Horse racing continues to be one of the most popular sports in the world for betting purposes. Few sports are able to capture the imagination of bettors around the world, as the adrenaline levels experienced when gaining a winning in a big race surpasses the feeling enjoyed on a wager on another sport.
Significant races on the racing schedule throughout the season typically ensure engagement from those that wouldn’t typically bet on horse racing, with the most famous in North America coming in the form of the Kentucky Derby. You can find out more in TwinSpires.
However, if you are new to betting on racing, what are some of the common betting strategies that can be adopted to enhance your chances of gaining profitable returns?
Laying The Favourite
Horse racing is difficult enough to predict, meaning a solid option for bettors looking to gain returns on a regular basis could see them finding value in laying favourites.
This is a dangerous tactic, as markets would typically suggest the most likely winner of a race. However, there can often be value in taking on favourites, with simply laying them being the best option. Stats show that two-thirds of favourites lose, but finding the ones that are weak enough to support in a lay market is key.
Experienced bettors will still do extensive research before taking on a favourite, which includes examining official ratings, course and distance form, and the records of trainers and jockeys over the last two weeks.
If a horse doesn’t tick every box, then there could be reason to suggest that another runner may stand the best chance of claiming victory in a given race.
Dutching
A very popular horse racing betting strategy comes in the form of Dutching. This is a relatively simple tactic to understand, as it will be when a bettor covers two or more horses to win a race in order to gain returns.
For example, one bet could be placed on a selection at $10 at odds of 3/1, while another angle could also be covered at the same stake at odds of 4/1. In most cases, this will see a bettor walk away with profit regardless of the horse that wins the race, providing it is one that has been selected.
Dutching enables bettors to cover more than one runner in a given race, which will immediately enhance their chances of gaining returns. However, it does come with its own downfalls, with the obvious being the fact that two stakes could be lost if neither of the selected runners win the race.
Many experts will also avoid this tactic, as they will have one strong feeling in a race, and limiting their stake on the selection will lower the returns that they can pick up.
80-20 Betting
The 80-20 betting strategy is a more evolved version of Dutching, as a bettor can still cover two selections in a race. However, using this tactic, a smaller wager is placed on the second selection, as it is chosen as an alternative in case the main selection doesn’t win.
For example, if you have $100 to wager on a race, $80 can be staked on the shorter-priced selection, while the remaining $20 will be wagered on a bigger-priced horse. Either way, the bettor will win significant returns on their bet, without diminishing the amount picked up should the number one selection come out on top.
This strategy is more preferred to Dutching, as it covers the main selection, but offers an insurance bet should the main play come up short. However, like Dutching, it also comes with its setbacks.
Mainly, both bets can still be lost should another runner win the race. Therefore, extensive research must be completed to ensure that the two main chances of winning a race are selected.
Parlay Betting
A popular betting strategy in this modern day comes in the form of parlay betting. This strategy has gained popularity in recent years, with a growing number of online sportsbooks enabling multiple horses to be added into one longer bet.
It is an excellent value angle for bettors looking to wager on a two or more short price favourites, as it will see enhanced odds available. Selecting multiple horses from different races also ensures that bettors will have continued excitement throughout the day, as they will have covered more runners at a given meeting.
There have been countless big payouts for winning horse racing parlays, including in 1996 when one gambler put all Frankie Dettori runners at Ascot into one bet and gained returns at odds of 25,000/1.
However, parlay betting comes with one massive drawback. A bet is settled as a loser if one selection loses, meaning that the only way to gain returns via this strategy is by including horses in a parlay that all win.
