These days there are so many ways to bet a race and unlimited simulcasting you can choose from, so why limit your options on how you bet. What do I mean by this you ask, well I hear the following statements all the time;
“I don’t bet favourites”, “I only bet win, no place or show”, or “I don’t bet exactors or trifectas”.
As soon as you limit what you bet or don’t bet, or make up betting rules you are restricting you from certain situations. I always shake my head when people tell me they don’t bet favourites This is one of the more stupid statements to make. Favourites win about 33% of the time, so to begin you are missing out right off the bat. Also many favourites can be overlays. If you think a horse should be paying $4.00, but is going off at $5.00 that is a 50% more return than it should be. When ever a horse is an overlay and you like him, it should be a play.
Restricting to only win betting can be a mistake as well. Many times you can find holes in the place and show pool. A hole in betting is when there is not much money in the pool on a certain horse. For example in the win pool there is 45% to win, 10% place, 25% show. Clearly place is the bet. I wouldn’t even bet the horse to win with those %. Another example is a horse is a standout but paying nothing and you do not think your other horse can win, so you pass, you say. NO, make a place or show bet or an exactor bet. Obviously if you are a guy that doesn’t bet show and there are bridge jumpers on a horse, clearly it is a must play to find another horse to bet to show. You never know when there are jumpers.
Simply put, keep all your options open and adapt accordingly to each race and each betting situation. The more of an open mind you have the better chance there is a way to find a way to make the most money on a race. We all know it isn’t only about picking winners but so much about betting correctly.
OFF TO VEGAS: I will be at the Orleans in the Fall Classic Horse Racing Contest next week, anyone going to be there come and say hi and discuss the races. I will also post some blogs during the contest