Novice Tips for Betting on Horses

There are a few tips that you may want to follow when you wager on horse racing. These tips deal with being smart when handicapping the horses and the races.

• Establish the bankroll you will use. Use only money that you can afford to lose and not money that you need. The amount of your bankroll has to an amount that you are comfortable with. Come up with a percentage of your bankroll that you can wager on a certain horse race. 2% is a reasonable amount to bet on a race. This is the rule of thumb for any legit horse racing betting system.
• Look hard at the favorite. In your first look at a horse race you should try to find out if the favorite is a solid favorite or one that is vulnerable or simply false. You should not waste your time on horse races where it looks as if the favorite is a tough pick. It is a good idea to attempt to limit yourself to around 6 through 8 quality races in a day if you look into the circuits. 3 to 5 races is a good number of races to concentrate on when looking at one track. However, this number can be increased if there are good opportunities available to you.
• Pick some possible contenders. It does not matter what type of handicapping system you use, but you have to make a preference of the contending horses. Come up with a value line in order to make it easier for your track decisions you make.
• Go outside the box. Do not be afraid to use your imagination in terms of visualizing on how the horse race will be run. You should not be afraid to go against the flow. If you do not see a clear picture of what will happen in the race before it takes place it may be the case that you are not sure which horse or horses you want to wager on.
• Plan out your race day. Take out the races that are not playable and come up with a good plan, which you should write down, with bets that are potential winners, singles bets, various exotic bets, to name a few. Basically, you should have a general idea what action you will take before you check out the track. The horse racing system you use should be your guide.
• Be sure not to waver. When you are in the action do not bail your system. You should allow the tote-board to determine the final moves you make and not some tip you heard from wherever. When you bet it is your cold hard cash and it is up to you how you win it or lose it based on the system you use and your opinions of the races.
• Have disciplined money management. Do not get jumpy when you lose a race or two and also do not up your wagers when you win. Keep your bankroll protected and do not be too aggressive. There are always more chances for you to bet another day. On one day losing and winning does not matter, but what does matter is long term winning.
• When it is smart adjust your action. You have to be able to change how your think if there is solid evidence to support it. Be ready to move your money to your second or third wagering options if that is where the value is. If your number one wagering choice is over-bet in the win pool and you do not have any solid second wagering options, you may want to look into the short priced exotic horse wagers.

Part #2 – for Intermediates can be found here