It wasn't long ago that many horse players agreed that the best bet in horse racing was the straight bet to win. Now, as the scramble to attract more players to the race track heats up, that isn't necessarily the case. The problem of making a profit wagering on the ponies is twofold and that is where the complications begin.
It isn't enough to just successfully evaluate each runner's chances to win by handicapping the race. You must also find a value bet if you're going to make a profit for your hard work and risk. While finding value starts with being able to accurately access a horse's chances of winning, that information must then be converted into a morning line.
The process of computing accurate fair value on just one horse is difficult enough, so it has often been thought that trying to play exotic bets with multiple runners or even multiple races, is just too difficult and fraught with risk. That is starting to change, however, as race tracks try to offer better value to their patrons.
With the advent of the fifty cent trifecta, pick three, pick four, and even pick five, things are starting to change. It isn't just the amount of the minimum bet amount but also the fact that tracks are lowering the takeout on these exotic wagers, sometimes taking nothing at all out of the pot.
Any savvy horse player will tell you that the number one reason most players can't beat the races is because of the takeout or "vig," as it is sometimes called (short for vigorish). Back in the golden days of horse racing legal bookies competed for business and would lower their takeout to the very lowest figure they could and it was possible for a shrewd handicapper to make a profit. With the advent of pari-mutuel wagering and the outlawing of bookmaking, that changed.
Race tracks had a monopoly on legal betting and since the gambling opportunities for most people were so limited, the tracks had it their way and horse racing suffered. In my opinion, the number one reason that horse racing has been in decline is that you just can't beat the vig. Now that race tracks are lowering that figure on certain bets, however, it is possible to make a profit and the wise horse player who shops around may find that multiple race wagers are the sweetest deal in town.
The best bet in horse racing is the one that allows you to make a profit. The best way to make a profit is to find a bet that doesn't cost more than the actual price of the bet. No hidden fees and no takeout are the ways you can finally start making a profit betting on the races.
If you want to learn how a horse owner and insider handicaps just go to http://horse-racing-handicapping.co/ and get the truth about betting on horses and winning. Bill Peterson is a former race horse owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.
No comments:
Post a Comment