For as long as sporting events have been a popular pass time, betting on the outcome has been right alongside it, adding to the thrill and excitement of the game, match or race. Sports betting has become one of the most favoured forms of betting in the gambling industry and generates unthinkable amounts of money each year, with big events like the Grand National and the World Cup being responsible for billions of pounds on betting alone. But you can’t just rely on your luck if you want to make some real money, so here are a few tips and tricks to maximise your chances of winning.
Get to Know the Basics
Sports betting has endless possibilities, with sites and bookies offering fans the opportunity to bet on any sport o their choosing, such as football, horse racing, boxing, basketball, tennis and any other you can think of. The best thing to do is to focus on the specifics of the sport that you are planning to bet on as the lingo and rules can differ between sports, but luckily Timeform has guides to give you knowledge on many different sports but lets now focus on of the most popular sports that fans love to bet on - Horse Racing.
Brush-Up on the Lingo
If we are focusing on horse racing, there are many different bets that you can place and so it’s important to ensure you know what all the different sporting lingos mean, here are a few of the best examples…
Backed - this refers to when a certain horse has a lot of bets placed on it and so will generally have reduced odds.
Each way bet - this type of bet is effectively like placing two bets on the same horse and so half of your wager is on the horse winning the race and the other half goes on the horse placing.
Ante-post bet - this type of bet is made in advanced and so no final declarations have been made, meaning that you have the risk of your horse not even running in the race and so you would lose your wager, but it can also lead to a big payout if things go your way.
Multiple bet - this bet is not just for one race, but many. This can be a double or treble bet which means you place your bet on two or three horse in different races and only receive a return if all are successful.
Things to Remember…
As with any betting, it is important to know your limits and to be smart, which involves more than just knowing what you are doing. Setting a budget or rules for yourself can allow you to make educated decisions and not go beyond your reach, landing yourself in financial trouble. These rules can also ensure that you do not make to many impulse bets based on emotion, as although going with your gut can be beneficial, you need yo keep your emotions in check.