Sports gambling is a popular pursuit because everyone understands the basics of how teams win and lose and why. Horses, meanwhile, are an entirely different animal”no pun intended. It is a complex discipline unto itself, and a sound background in handicapping sports doesn’t insure success, or even mediocrity in handicapping the ponies. In fact, the history of sports betting is replete with successful gamblers that had a weakness for horse betting, with an emphasis on the word weakness. Most notable, perhaps, is the former resident handicapper at CBS, Jimmy The Greek Snyder. The story goes that The Greek was a first rate sports handicapper, but he couldn’t pick the winner of a one horse race when playing the ponies. The bad news for The Greek is that he enjoyed playing the ponies nonetheless, and often frittered away the money he won at the other end of the sportsbook.
Below are some very basic concepts that you need to know to enjoy a day at the horse track. This information doesn’t even scratch the surface of what you’ll need to know if your goal is to become a serious horse betting devotee. If that is the case, you’re best advised to check out one of the many theoretical books devoted to the subject.
Arm yourself with information: The first step for any horse handicapper is to pick up a copy of the Daily Racing Form (DRF) and the track program. The publications give the names of the horses, jockeys and trainers, the morning line odds, and the types of bets available for each race. You’ll also have past performance charts, which are crucial for serious horse handicappers. These charts reveal a lot about a horse and what they’ve done on the racetrack, including its record, where it ran, the quality of competition it ran against, and what position the horse was in at various points in the race.
You’re not playing against the house: One thing to keep in mind when playing the horses that is drastically different from sports betting is that you’re not playing against ‘the house’, you’re playing against other betters. The track just accepts and pays bets, taking out a cut (called the ‘takeout’) for their services. The track odds are determined by the money bet on each horse. Long odds on a horse doesn’t necessarily indicate a ‘bad horse’ but just one that for whatever reason isn’t attracting bettor interest.
So where do odds in the newspaper or program originate? These are known as the ‘morning odds’ or ‘morning line’ and is basically an educated guess as to where the betting will go. They can be helpful as a handicapping tool, but may or may not reflect what will happen in the actual betting.
Horse handicapping basics: This is where horse racing gets complex–there are countless theories about how to handicap a horse race. Some handicappers consider the breeding lineage of the horse, while others are more concerned with past performance. Still others put more weight on the training a horse has received, or its workout performance.
Once a bettor reaches a conclusion about what he thinks will happen in a given race, it is still subject to the odds that are available when betting. This is similar to sports gambling, where an underdog may be more attractive due to an excessively high payback potential than he would ordinary, or, conversely, a clear favorite becomes an unattractive wagering proposition due to a prohibitively high price. Its all a matter of the math–if I could speak to the teenagers of America, I’d try to impress upon them the importance of doing well in math for no other reason than its importance in all forms of gambling.
Trainers and breeding: Some handicappers prioritize a horse’s breeding background–considering his bloodlines and the competitive quality of his parents and grandparents. Then training must be considered–a good trainer can often get a horse to ‘over perform’ much in the same way a good coach can get the most out of his team in sports.
Jockeys: Jockeys are independent agents, and thus to make the most money they need to win the most races. The more a jockey wins, the better ‘rides’ he gets and the more money he makes. Surprisingly, many serious horse players put minimal importance on the jockey. It’s essentially a case where even the best jockey can’t win with a bad horse. In other words, if a jockey is seen as ‘competent’ there are many other more significant factors for the handicapper to consider.
Don’t Go Overboard, and Try to Find What Works For You: As with any new betting discipline, its always sound advice to not go overboard with the amount of money you wager. These are just the basics of how to bet a horse race and what some of the salient factors are in determining who will win or lose a race, and doesn’t even to begin to scratch the surface of successfully handicapping the sport. If you want to learn more, Id suggest starting with the Daily Racing Form website, after which a simple Google search can expand your options from there.
Ross Everett is a experienced freelance writer experienced in travel, casino gambling and sports handicapping. He is a consulting handicapper for Anatta Sports where he is responsible for providing daily free sports picks. In his spare time he enjoys fine dining, falconry and scuba diving. He lives in Las Vegas with four dogs and a pet coyote.
categories: horse racing,gambling,sports,recreation,hobbies,travel,entertainment,animals,marketing