Australian Horse Racing Betting Tips

Australian Horse Racing Betting Tips & Odds

Thoroughbred racing is Australia’s most popular and exciting form of betting. Aussies love having a punt on the horses, and there’s no better way to bet on horse racing than online with your computer at home. You can get much better odds than the TAB, there’s no traffic or parking to worry about, no lines or queues to stop you from getting that last minute bet on, and there’s so much information available at your fingertips from detailed online form guides to free tips and the lastest mail from the track, making online betting a much easier and extremely more profitable way to bet on the horses.

Free Betting Tips for Horse Racing Punters

Most people will often use the odds instead of the form guide as their main indicator of a horse’s chance of winning any particular race. This is one of the absolute worst ways possible to tip a winning horse. What you get here is a case of the blind following the blind, or what some marketers trying to sell you a fool proof software or betting system which allows you to “follow the smart money“, in reality this couldn’t be further from the truth and what you are actually doing when “following the smart money” is the exact opposite.

Betting Based on Odds is Like a Lottery, The Odds Are Against You And You’ll Probably Always Lose

I will use an analogy here which you may find helpful. Just like a stock market, TOTE’s and online bookmakers adjust their sports betting and horse racing odds based on the amount of money flowing into the betting pool. Think of a horse’s odds like a company’s stock price. Now, imagine a massive stock market trading room where people all over the country are either there in person, or watching the markets move over the internet via a a big live streaming odds screen. Now, imagine what would happen if some news came through that a favourite had just been seen acting lethargic before the race, akin to a company releasing a lower than expected quarterly profit report.

A lot of people would panic and sell their shares, which would cause the stock price to fall in the short term – then, people would see that fall and sell because others are selling, causing a snowball effect which isn’t really based on any reality. There could have been a pefectly good reason for the lower than expected profit report, maybe the company had spent a large sum on R&D, or perhaps sales had slowed due to something outside of the companies’ control. Of course, this “news” may have been made up in the first place.

The point I’m trying to make is that watching a horse’s odds shorten rapidly or drift suddenly by a few tens of cents could happen for any number of reasons. Perhaps a single large bet was placed by one of the bigger online bookmakers on a certain runner in order to cover their bases in case a certain horse had been backed heavily on their website, maybe a large punter or the owner of the horse dropped a large sum of money on one of their horses, or any other number of reasons. On the stock market floor, you’d probably hear screams of “SELL, SELL, SELL!” and the punters would be jumping over each other trying to offload their shares (bets) and buy another horse, pushing that share’s value up (or that horse’s in my analogy) simply because of the single large bet placed by a bookmaker in my scenario listed earlier.

I know, this isn’t a perfect analogy, but there are definitely some similarities to the stock market and horse racing. Surely you get my point.

Overs, Unders and Odds That Are True

The odds of a horse should only ever affect your bets when deciding whether or not the odds are overs, meaning that it represents good value, or unders, which I’m sure you can gather means the exact opposite. Even if the horse you are thinking of betting on has the best form, the best jockey, the best preparation and literally the only thing that could happen in order for that horse to not not win would be the jockey falling off the damn nag, if that horse is paying $1.05, then you would not be a smart punter if you chose to risk your entire bankroll on that one “sure thing”. First of all, when it comes to racing there is nothing that is a “sure thing” except for the fact that sure things often end up losing.

There are a lot of specific tips you should consider before placing any bet. Firstly, and most importantly, can you afford to lose? If the answer is no, stop reading now and find another hobby. Never bet your entire bankroll, or even a large percentage of your bankroll on a single horse race. Strange things happen in races, and I have seen a lot of strange things happen which have turned certain winners into another hard luck story.

Practical Tips for Winning Money on Horse Racing

Always Keep Track Of ALL of Your Horse Racing Bets

Keep track of your bets so you know how you are performing in reality, not just with your memory which has a habit of forgetting bad losses and romanticizing and sometimes even exaggerating your winnings. I find that using a simple spreadsheet is the easiest way for myself to keep track of horse racing bets, if you are proficient with computer spreadsheets you can create some really amazing betting trackers which keep track of everything from your online bookmaker accounts, your credit limits, winning bet percentage, average win/loss per day/per bet etc. But really, all you need to start with is a piece of paper and a pen. There are also numerous mobile phone apps, dedicated computer software programs or any number of other methods for keeping track of your horse racing bets.

Become a Better Bettor Than 50% Of All Gamblers Today

The single best tips I can give you when it comes to betting on anything, but especially horse racing is this: If you consistently make smart bets, never chase your losses and treat each bet as its own and on its own merits, you will start to become a much more succcesful punter than the majority of the population. Never bet more than you can afford to lose.

The Favourite Bet Fallacy, Betting on Favourites

Australian horse racing Favourites win horse races less than you would believe, it’s somewhere in the vicinity of 30%. When you consider that favourites in Australian horse racing usually pay anywhere from $1.10 on the very low end to maybe $4 on the high end with most favourites paying around $2, you should be able to use simple maths to understand that it’s never going to be profitable to be on the favourites every race and expect to win.

IF you follow these free tips, you’ll already be doing much better than the majority of Australian horse racing punters.

Good Luck, and Happy Punting!

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