Best Strategies For Sports Betting In 2024
Sports betting is incredibly popular across the world, with the main goal of all bettors being to win returns on their selections on a regular basis. However, long-term success when it comes to gambling is often dependent on following a sound strategy, and sticking with it.
This is especially the case when it comes to betting on horse racing, with bettors needing to remain extremely focused on their long-term goals in terms of results.
Under no circumstances should bettors alter their strategy if they have made plans for potential bets, but what are some of the most popular strategies that many bettors have achieved success with when betting on horse racing?
Backing & Laying
Sports exchanges are an increasingly popular betting option for bettors when it comes to wagering on racing, but newcomers will need to understand the difference between backing and laying when it comes to this strategy.
Backing a horse will require the selection to win in order to win returns, while a preferred option among many experienced bettors is laying short priced favorites that they don’t believe will win the race. Laying a horse means that a bettor is placing their stake on a runner to not win the race, meaning that they will have money riding on every other entrant in the field.
Just by basic numbers this should increase the chances of gaining returns. For example, if there is a race with 13 runners and you have laid the second favorite, then you stand to win returns if any of the other 12 runners in the field land victory. It can be an incredibly lucrative betting strategy, especially when it comes to gaining long-term success.
Betting On Longshots
Many experienced bettors will typically look to increase their funds in their betting accounts by siding with short-priced favorites, but there could often be better value in the markets by siding with a selection at a bigger price. Races that have big fields, such as the Kentucky Derby, will typically see horses out-run their odds, which can increase the chances of a long shot claiming victory.
Backing long shots is popular among newcomers to the sport, as it can often be the best way to find value in the market. One of the biggest reasons for this is due to the option of taking advantage of other markets that you typically couldn’t when betting on selections at shorter prices. For example, if you’re looking at making a wager on a horse at odds of 14/1 or bigger, then it could be wise to make an each-way selection, and you can stand to win profit on your bet even if your runner comes second or third.
This betting strategy is most popular when it comes to some of the biggest races on the calendar, including the Kentucky Derby, Kentucky Oaks, and Grand National where there is greater depth than there traditionally would be in less prestigious races.
Dutching
A very popular strategy when it comes to betting on horse racing among experienced bettors is Dutching. Here, the bettor will wager stakes on two selections with leading chances, covering extra bases in the contest in the hope to win returns on their selections. For example, you could bet $10 on one selection at 5/1, and then another $10 on a selection at 6/1.
An outlay of $20 in total is put into the race, but the bettor stands to pick up returns that equate to profit of either $50 or $60 depending on the winning selection. Dutching has a lot of positives for bettors, as it covers off two likely outcomes in a race, but bettors will need to ensure that the bets that they make still return a profit, even if it is a small margin.
However, Dutching does still come with its setbacks, as one bet is guaranteed to lose. Meanwhile, if you’re using this strategy on a big-fielded race, then it’s potentially likely that both selections may lose. Therefore, it is important to weigh up all potential angles before following this strategy.
Key Horse Racing Betting Tips
While following strategies is a preferred option among many bettors when it comes to wagering on horse racing, it is still important to complete all the necessary research before coming down on a potential selection.
This includes weighing up the form of all the runners involved, assessing the conditions that suit each runner best. For example, in the Preakness Stakes betting you should look at the performance of horses in the Kentucky Derby, as the who races are normally correlated.
That means looking at the form of each runner involved and assessing the number of wins that they have recorded, and over what distances the victories have been achieved.
Furthermore, bettors should also examine the strike-rates of both trainer and jockey for each runner to weigh up whether the stable is in high-flying form, which could enhance the prospect of the horse winning again.
