Betting on the race track is not only fun and exciting, it also gives you the chance to win a lot of money. Of course, it also gives you the equal opportunity to lose money. The latter can happen if you don't make discipline a part of your betting.
Traditionally, gamblers (which, in essence, is what you are the moment you start betting the races), relied on Lady Luck to make them win. When Lady Luck smiled on them, winnings came in without effort. The opposite happens when she frowns.
Today, however, most wise bettors have decided to give Lady Luck a hand. You would do well to follow their example. It all starts with discipline.
You might not think that doing homework is part of horse betting, but it actually means the world if you want to win big and avoid huge losses. In much the same manner that you need to discipline yourself to study your lessons in school, wise horse betting entails looking at which stable the horse comes from, its winning percentage, the trainer and the jockey of the horse you want to place your bet on.
Bigger, well-established stables most likely have the funds to hire more experienced trainers and jockeys. Look out for horses that come from there. Get to know the jockeys riding the horses. If they already have a lot of wins under their belt, then chances are they are going to win more. Obviously, horses who have won before are most likely going to win again.
Another source of information that you will also find helpful are the daily picks given by horse racing programs. These programs are usually given in race tracks or online websites. They are also safe horses to put your money on.
Let's move on to the betting itself. How do you put discipline there? When you go out to the race track, always make sure that you have a betting plan and make sure that you stick to it. Determine beforehand how much you're going to bet, the type of bet or bets you are going to place and what your stop loss limit is. Always have a betting strategy with you so that in case things don't go your way, you don't get tempted to start accepting wild bets and losing even more. Also, while playing too many tracks can be potentially lucrative, it also makes you vulnerable to bigger and more expensive losses if your bets take a dive. If you do decide to play multiple tracks, make sure that your bankroll is sufficient to cover any potential losses.
Horse betting isn't an exact science- yet. But with discipline, you can protect yourself from going bankrupt so you can live to bet another day at the races.
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