Horse race betting is a popular hobby for both seasoned professionals and newbies to the sport. With so many races held each season, one can consistently earn at least a small return with the right strategy. Yet it’s be difficult to know where to start and how to figure out the right methods. Here are five strategies that can yield horse betting success when mastered.

1.   Find Better Value by Wagering in Early Futures

Consider wagering in early “Futures” pools for the major races in order to find a better value, or longer odds. Individuals can utilize early high odds on horses they like by taking advantage of different types of wages, such as exacta betting and straight win betting.

For example, Pool 1 in the 2017 Kentucky Derby had Classic Empire as a future pool favorite. Classic Empire earned finished 2016 at the Breeders’ Cup and earned almost $1.5 million by the end of the year.

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2.   Better Predict Outcomes Using Computer Powered Tools

Many horse-betting groups are finding success by using computer-powered tools, like big data and predictive analytics, to better predict outcomes. Computers are able to analyze as many as 100 hundred variables at a time, which allows them to place a higher number of profitable bets.

As a larger amount of individuals and groups use computers to predict races, this also works to increase the overall size of the betting pool and increases payouts.

3.   Generate Bigger Payoffs By Using Exotic Bet Types

Learn how to use exotic bet types, like trifectas, in order to generate bigger payoffs while covering multiple potential outcomes in a race. A trifecta is a type of bet you can place on the top three finishing horses where you predict the exact order in which they cross the finish line.

Boxed trifectas allows you to win earnings if you select the top three finishers in any order, while trifecta key box bets lets you select additional finishers to cross the finish line with your key choice.

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4.   Discover Other Unknown Angles Leading Up to Races

Algorithms and data do not always reveal all aspects that contribute to a winning bet, such as a horse who raced poorly the previous week because they got cut off coming out of the gate or stumbled on a loose patch of track. These angles are often unknown to the majority of betters when leading up to a race.

Another angle to always be aware of is that both jockeys and trainers have hot and colds streaks, which can quickly be turned around at the beginning of a race.

5.   Exercise Patience and Set Ground Rules Beforehand

It is important to set ground rules for your betting strategy before getting to the track and to always exercise patience. One of the most common mistakes that bettors make is that they bet on every single race, which is an almost guaranteed way to lose money. Instead, you should only bet on races that you are confident about and can thoroughly evaluate.