How to bet on horses safely

How to bet on horses safely

Although all the major races are over, thanks to the use of all-weather tracks, horse racing can now take place year-round. Whether you’re a devoted racing fan who keeps tabs on all the racing events happening around the world or a casual fan who only pays attention to the Triple Crown, it’s easy to get caught up in the excitement of betting on the horses.

When you’re placing your bets at the tracks, there’s a sense of security because the track has an established bookmaker, and the odds are clearly displayed throughout the entire day’s slate of races. If you can’t attend the track and still want to bet, it can be harder to feel entirely comfortable with placing a bet online. How can you tell which sportsbooks are legitimate and which ones are offering the best odds?

In this article, we’ll provide a short summary of how to identify the safest betting apps and the other steps you need to take to bet on horses safely. When placing a bet on a horse race, the only thing you should have to worry about is if your horse is going to win!

Identifying a safe betting app

When you’re first starting out with betting on horse racing, it’s sensible to create an account with a well-known brand. An established brand typically has enough history behind it, even if it’s fairly young, that you don’t have to worry about its reputation. When choosing from the various big-name brands, it can be very helpful to use a review site to narrow down your options.

There are two things that you need to check for to make sure a betting app is safe. The first is the licenses that they hold. A safe betting app will clearly show their licenses and be able to operate fully legally in your location. The second is whether they employ SSL encryption software. This security software is used to protect bettors’ personal and financial information.

Lastly, make sure that the betting app you’re using accepts a range of payment methods. Many of the leading digital payment methods have security measures in place that help to protect your funds should something go wrong. When a betting site offers trusted payment methods such as credit and debit cards, payment apps like PayPal and digital wallets, it’s a good sign that they’re safe.

Set a budget

One of the biggest risks in any form of sports betting is losing more money than you can afford to lose. A few losing bets in a row and suddenly you’re desperate for a win and will spend too much trying to secure one.

Setting a budget and sticking to it is the best way to avoid falling into this trap. Betting within a budget keeps the experience fun. Knowing you have a budget also encourages you to place smarter bets. As attractive as it might be to place bets solely on a gut feeling, it’s generally not the safest strategy.

Do your research

Once you’ve gotten started with betting on horse racing, it can be tempting to go all in and start betting on every equestrian event you can find. However, just because you know a thing or two about flat track or steeplechase, doesn’t mean you can place smart bets on polo tournaments.

Smart betting requires thorough research. You need to keep on top of the information about the horses, jockeys, trainers and even the track. The more legitimate information you have, the more informed a betting strategy you can develop. Plus, if you love horse racing, the research is part of the fun. 

Vet tips

Tips are a central part of horse race betting. More so than any other sport, tips have a long and colorful history in horse racing. Getting a tip, and acting on it, can make you feel like you’ve finally made it and are having an authentic horse race betting experience.

Not all tips are created equal though. Before you bet it all on the information of a random tipster, consider where that information is coming from. Anyone can start a tip website online, just like anyone can hang around a bookmaker’s and share their opinions. If possible, look up their betting success record and whether they have any connections to the equestrian world. 

Keep track

Part of betting safely is knowing your own weaknesses. Keeping track of all the bets you place and whether they pay out is essential to developing a smart betting strategy. If you keep track of your bets, you can notice patterns, such as a soft spot for trifecta bets or a tendency to bet on sprinters.

Tracking your bets also makes it easier to figure out how much you are spending on each bet and which odds pay out the best. Reading odds for more complicated bets can be confusing. Seeing all your bets, the odds and how much they paid out, gives you concrete evidence regarding how the odds work. This lets you bet with more confidence and more security.