How to Win at Horse Racing Horse racing is one of the only sports that allow fans to participate in the game directly, through wagering. Millions of dollars are bet each day on races in North America, enticing players to put their handicapping skills to the test. It truly is an art form, and getting great at it will take time – but it may pay off.
Decoding the Racing Form
1 Hone your handicapping skills. Handicapping is
the process of determining which horse has the best
chance to win a race. It is a test of your creative
intelligence, not systematic computation. To do this,
you’ll need the Daily Racing Form, which you can
buy upon entering the track.
The DRF is full of a whole bunch of stats and
figures, which we’ll be discussing below. Once you
know how to decode the racing form, you’ll have a
pretty good idea of which horses will (or at
least should) do well.
2 Look at the Beyer Speed Figures. Beyer numbers
often serve as a starting point in the handicapping
process. They are the bold numbers found in the
middle of each DRF, indicating the horse's past
performances. Handicappers often use the horse
with the highest last-race Beyer as their focus and
eliminate horses that have never run a figure close
to this horse's figure. There are two numbers: pace
and speed.
Pace projections. By scanning the past
performances, handicappers try to estimate the pace
of the current race and determine which horse will
benefit most from it. The first bold-face number,
pace, shows whether the horse likes to be on the
early lead or not.
Speed projections. This is not the same as pace.
Speed (the 2nd bold-faced number) shows the
horse’s ability to pass other less-speedy horses as
they near the finish line. Speed does not equal
consistency (which pace can).
Look at that race’s distance. Distance is one of the biggest factors when it comes to betting. If you’re looking at a horse that tires out around six furlongs
and you’re at the Belmont Stakes where it’s a whopping twelve furlongs, you probably don’t want to bet that horse.[1] How has your horse run in other races of this similar length?
Distance, pace, and speed are very powerful in
tandem. Looking at how your horse runs (and, as
importantly, how she finishes) in different distances
will clue you in to how she’ll perform in races of
different lengths.
4 Take into account the track and the weather. This
is called “track bias”: no single factor in
handicapping can change the complexion of a race
like a track bias. If wise bettors detect any kind of
bias in the racing surface, they incorporate it into
their decision-making. What is track bias? Every
horse has their preferred surface, whether it’s turf or
dirt. You want to know how your horse will perform
on whatever your track is.
Don’t forget the weather! A little rain quickly turns
that dirt into mud. Take into account how your horse
has performed in this type of weather, not just the
type of track.
5 Consider “form cycles.” Handicappers must ask
themselves questions about each horse. Is her last
race a true representation of her ability? Is she likely
to improve or regress on race day? Which horses
raced against a bias last out and can be expected to
offer a peak performance today? Horses, just like
humans, are never 100% consistent.
One thing to consider is the size of the purse and
where the horse is coming from. If the size of the
purse is large, this is one classy horse – she’ll
probably be pretty consistent (she didn’t get to the
big leagues for nothing). And if she got flown in from
somewhere, her owners paid a pretty penny to get
her there, so they’ll probably break out all the stops
to see her win.
6 Look at the horse’s post position. In the list of the
horse’s previous races, you’ll see her previous post
position. Sprint races around one turn usually favor
outside posts, while route races (races with 2 turns)
at longer distances often favor inside post
positions.[2] What’s this race? And what is your
horse’s post position? Has she run a race like this in
the past and done well?
You may want to consider other horse's post
positions, too. If a certain horse seems to be
speedier on the inside and for this race is on the
inside, this horse will be serious competition.
Placing Your Bets
1 Get familiar with your track, the tracks being
simulcast, and get your papers.With your umbrella
and binoculars in hand, get going to your track. Step
out onto the track before the races begin – what’s it
like? Find the bettor’s window, and sit down to read
your DRF. There are a few other pieces you can get
for purchase, too:[3]
’’A racetrack program.’’ This has information on all
the horses, jockeys, trainers, and owners. The cost
is usually $3.
’’Public handicapper selections.’’: If your racetrack or
OTB (off-track betting) is covered by the local
newspaper, they may pay a handicapper to make
daily horse selections. The cost is usually 50 cents.
’’Handicapping tip sheets.’’ These are daily
selections published by handicappers at the
racetrack. The cost is usually $2.
Tracks often simulcast from other tracks, too. This
means you can watch the races live in one track and
watch ‘’and bet on’’ races at other tracks being
simulcast on TV. Imagine the bank you’d make if you
won both!
2 Buy a Daily Racing Form. This form is the most
important weapon in a handicapper's arsenal. It
provides detailed information on each horse running
in the day's races. It costs $4 at most race tracks
and is outlined in the above section. At first glance,
it’s quite intimidating – but once you learn what all
the numbers mean, it’ll be your best friend.[4]
Give yourself some extra time to sit down and study
it. As you get better and better you'll need less and
less time, but for now work at least a few races in
advance. Being patient and doing your homework
will increase your odds like little else.
3 Familiarize yourself with different types of
bets. When you go up to window, you need to know
what you want! Here are your basic options:
Show – your horse can get 1st, 2nd, or 3rd and you
win
Place – your horse can get 1st or 2nd and you win
Win – your horse must get 1st to win
Quinella – bet 2 or 3 horses to finish 1st or 2nd, in
any order
Exacta – bet 2 horses that must finish in 1st and 2nd
in exact order
Trifecta – bet 3 horses that must finish in 1st, 2nd,
and 3rd in exact order
Superfecta – bet 4 horses that mush finish in 1st,
2nd, 3rd, and 4th in exact order
4 Know your odds and payouts. Let's say you bet
$2 on a horse to win (which is the standard minimum
bet). To determine how much you would win if she
wins, take the odds of your horse and multiply the
first number by 2 (your bet), then divide that by the
second number, and then add $2 (again, your bet).[5]
Let's say your horse has 3/1 odds. You multiple 3x2
to get $6. Divide that by 1, which is still $6. Then you
add $2. You would make $8 on a $2 wager.
Let's take a bet where lots of people are betting, like
on a horse with 1/9 odds. You multiply 1x2 to get $2.
Then 2/9, which is about 20 cents. Plus $2, and your
winnings is $2.20.
5 Consider each horse’s individual
characteristics. After you’ve gotten down all the big
numbers, you also want to look at other tidbits of
information in the DRF. There’s some information on
there about each horse that can give them the edge
to win. Consider:
If a horse was recently claimed, or bought. If
someone is willing to shovel out a chunk of change
for a horse, they probably have potential.
If there are any recent equipment changes. The
owner is zeroing in on how to improve their horse's
chances.
Look at her workout speeds. Are they consistent? If
she's running at the same speed every day, she's
probably in top form.
Consider the gender and breed. Generally speaking,
males are faster than females. Only three fillies
(females) have ever won the Kentucky Derby, for
example.[6] And better-bred horses will outperform
others, too.
6 Consider working out of two pockets. Any good
bettor sometimes bets big and sometimes bets
small. To keep yourself going and to keep from
being bored between races you're very excited
about, have a smaller pocket to work out of. You'll
be $2 here, $2 there, and then when that big race
comes up, you'll turn to your other pocket, and bet
$20.
Betting, quite frankly, in any arena, can be
dangerous. It's always important to know when to
stop. Having 2 separate pockets can help you keep
your head above water, too.
7 Place your bets at the window (and later collect
your winnings). Remember this order: racetrack,
race, dollar amount, bet type, horse number.[7] So
when you walk up to the window to talk to an actual
human, this is the formula you follow. Here's an
example:
"At Saratoga, I'd like to bet on the 5th race – a $4
exacta on horses 3 and 7." Make sure to do
this before the 5th race, of course. Check your ticket
before you leave the window, just to make sure it's
correct.
The racetrack is specified as many tracks are likely
simulcast at the track you are currently in.
Improving Your Game
1 Track your own records. Just like you would if you
were playing poker, keep track of your own
performance. Where do you seem to be making
assumptions that aren't correct? What tidbits are you
missing, resulting in betting on the wrong horse?
What are you strong points? Knowing how you bet
can help you overcome any personal weaknesses,
too.
When you go to the track, bring a pen and paper
with you or a type of scorecard, just like avid fans of
other sports do. Keep track of the results in addition
to how you bet to jog your memory later.
Establish what types of bets produce the highest
returns for you and make them the focus of your
wagering.
Determine what types of races you have the most
success with and which you can't decipher. If you
conclude that you seldom pick winners on turf, avoid
betting on grass races until you improve your
handicapping.
2 Read books on the subject. You don't have to
depend all on your own ingenuity and ability to see
outside the box – this is a very established field, so
take advantage of it. Read reputable books about
the art of horse racing. Knowing the strategy behind
it like the back of the hand is one of the best things
you can do for your odds.
Of course, a lot of what's out there is just a giant
scam to get your money. Research the author and
preview the book before purchasing. Some people
are out to make a dollar however they can.
3 Attend workshops or seminars. Some tracks hold
monthly (or even more regularly) seminars or
workshops on horseplaying. They'll be full of tips and
tricks, where you can meet other aficionados, too.
To find this information, just inquire at your track.
You're likely get put on an email list for their
newsletter that will be full of the necessary
information.
4 Bet with friends. There's such a thing as a "parlay
bet" and it can make betting on the horses even
more fun. If you're with a group, get everyone to chip
in, say, $5. Then, each person picks 1 horse to show
on a certain race. Place the first bet, and then if you
win, place the next bet including the winnings. If you
hit a streak, that $5 can add up very quickly.
Make sure the winnings (and the losses) get split
evenly. Have everyone agree to a basic set of
guidelines before participating in any betting. Some
people may argue that they won while others lost –
establish protocol before this happens.
5 Become a high-roller in the National
Thoroughbred Racing Association’s annual
National Handicapping Championship. Of course
you have to qualify, but if you do you could win $1
million dollars. To get to this level, this basically has
to be your job. But don't quit your day job just yet!
Again, any type of gambling can be dangerous. Try
to set yourself a limit – if you hit that point, you'll
walk away. It's to easy to get into trouble in
situations like this; always be looking out for
yourself.
Remain dispassionate when betting. Increasing the
size and scope of your wagers to try to recoup
losses often only results in more losses. Even the
best horse players sometimes lose; they accept it as
part of the game. What winning horse players don't
do is wager recklessly when their emotions get in the
way.
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