Horse Race Betting and Managing Your Bankroll

There are many reasons why people indulge in horse race betting. One of these is the entertainment factor. Horse race betting also gives people an opportunity to make money. If you are new to horse race betting, there are many things that you will have to learn in order to be successful. For example, when you begin horse race betting, it is important to make sure that you have a proper strategy in place to manage your bankroll or you may soon find yourself running out of money. Here are a few important things to remember about horse race betting:

• Betting tips will work for you only if you implement their advice.
• You should only bet against the favorite if you have a legitimate reason to expect them to underperform.

When the horses that you are betting on, are not paying much every individual result effects your overall fortune even if it is in a small way. When each bet returns a giant amount, however, that is another story altogether. For example, if you win on an exotic bet, the winnings could even make your year. On the other hand, losing a small fortune could take your finances in the other direction.

To learn more about horse race betting and for tips managing your bankroll during horse race betting, contact us at Horse Race Handicappers. You can also purchase our horse racing picks packages to see our tips for which horses we recommend placing bets on in each race.

Reasons for Losses Sustained During Horse Race Betting

There are many reasons why people sustain losses when they indulge in horse race betting. Let us consider two handicappers. Both have a $3000 bankroll. One bets $10 a race while the other one takes it higher and bets $100 per race. The handicapper who is gambling on horse racing with $100 has not only increased his chances of losing his bankroll, his fluctuations will also be huge. One day he may have a $5000 bankroll, the next he may have only $1000.

If you think that just because you have a high bankroll you can take more risks in horse race betting, be prepared to face wild swings. One of the main underpinnings of successful betting is to know how much to bet. Many handicappers do not bet enough money in horse race betting and so they don't make as much money as they could.

On the other hand, if you are betting too much on each bet, even on a normal run, you could wipe out your bankroll and in the process end up destroying your confidence and optimism. The reason why most people lose at horse race betting is because they have not studied handicapping and horse racing and they do not have a strategy. In short, they bet blindly and hope that they get lucky.

The Correct Way to Manage Your Bankroll for Successful Horse Race Betting

At Horse Race Handicappers, we often receive this question, "What should the size of your bankroll be in order to begin horse race betting?" This question is somewhat personal and all the more important since it is directly related to your finances. Therefore, you will ultimately have to make your own decision regarding the size of the bankroll you can invest. However, we can offer some guidelines to help you decide the approach to use during horse race betting.

Mr. Whitley bets on six to twelve races per day on four or five days per week. Normally his wagers are dutch wagers. This means he will bet on two horses to win in the same race. Win wagers are usually $200 or a total of $400 for a race. Mr. Whitley includes two to four exacta wagers in his daily wagers as well as two to four trifecta wagers.

Mr. Whitley's usual exacta wager is $50 and trifecta $20, in increments of $1. However, our horse race betting clientele ranges from people who wager just $50 on an average on each day they visit the tracks to wagering partnerships that may bet up to $10000 on a single race.

Mr. Whitley says that if you normally wager $2 on a single race you should increase this wager to $5 while being more selective in your choice. This larger bet will force you to pay attention to your bet and lead to fewer mistakes. Therefore, when your horse race betting wager is $50 instead of $20, you are less likely to be distracted when the race begins.

For more information and tips on horse race betting from the Whitely Group, purchase our horse racing picks packages or contact us today.