Basketball Sports

When you tell someone that you bet on horses for a living it is amazing to see their reaction. I remember at one party this very proper woman looked at me and said “But you look so normal”. I am not sure whether to take that as a compliment or not.

The point is that most people have a lot of misconceptions about gambling and horse racing in particular. Some believe it is just a case of picking a horse out with a pin whilst other think that if a horse is favourite it must win so all you have to do is back the favourite. Oh if it was so easy.

Backing the favourite in every race is a certain route to the poor house. Statistically favourites only win about a third of the races and as they are usually at short prices it is impossible to make a profit. Of course you could be more selective and only back favourites in certain types of race were they have a better record for winning favourites.

I do most of my betting in the UK and I think if you want to back favourites the best bet is to back the market leader at Chepstow in a 4Year old Stakes race where they have had a 67% success rate or the same at Chester where they have a 65% record. The Chepstow statistics are a little suspect as there have only been 3 qualifiers and 2 winners.

Another approach is to look for longer priced horse which if successful will give you a good return for your bet. This is probably as good an approach as any if you are just going for a day at the races and a bit of fun. However, trying to consistently find long priced winners is not very easy and a lot have people have gone broke trying.

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