Horse racing is among the oldest sports that continue to gain popularity among equestrian sports enthusiasts and bettors in the 21st century. At present, it has become one of the most recognised sports competitions in the world and a platform where betting is prevalent.
With horse racing’s long history and continued popularity among punters, the is surrounded by numerous horse racing misconceptions and myths. Bettors considering engaging in horse racing betting must first learn about the truths of these false beliefs to avoid problems in their bankroll and other aspects of their betting journey.
MYTH: Horse Race Outcomes are Solely Influenced by Luck
FACT: While luck plays a role in horse race betting and other gambling activities, the outcome of individual horse races is far from being solely dictated by chance.
Although horse racing outcomes are unpredictable, punters can still profit from betting on matches. Most seasoned horse racing bettors leverage the best practices in making informed bets, such include:
- understanding of the sport;
- employing strategies; and,
- careful analysis of horse form, jockey skills, track conditions, and performance statistics.
Patterns and performances of racehorses, jockeys, and trainers, as well as understanding the dynamics of a race all contribute to the outcome. Thereby, analysing them plays a pivotal role in making well-informed betting decisions.
MYTH: Favourites are the Best Bet
FACT: Relying solely on the bookmakers’ favourites when betting on horse races can lead to missed opportunities. While favourites do win races, blindly betting on them can lead to lower payouts due to the lower odds assigned to them.
Horse racing bookmakers typically set odds based on a multitude of factors, including the total amount of money wagered on the race, the amount of money bet on each racehorse, and a horse’s probability of winning.
Hence, bettors must seek value in their bets—look beyond the favourites and identify racehorses with higher Singapore horse racing odds that have a realistic chance of winning—to safeguard profitability with their horse racing betting activities. Value betting can yield higher payouts when horses outperform expectations. Thorough research and analysis can help identify value bets that have the potential to generate substantial bet payouts.
MYTH: Any Horse Can Race
FACT: Not every horse is suited for all classes and levels of competition, despite horse racing’s alluring inclusive and competitive nature.
Horses have unique characteristics, strengths, and weaknesses that determine their racing potential. They also undergo thorough training, conditioning, and further evaluations before participating in any horse race. Racehorses are then categorised based on their racing experience, previous performances, and racing abilities.
MYTH: Never Wager on Rested Horses
FACT: Betting on a rested horse can still be profitable for bettors. In fact, rested horses may actually be more prepared and rejuvenated for their upcoming races.
Rest periods during a horse’s training program are as important as the recovery period of human athletes. These allow them to recuperate and recharge from the physical and mental strain of racing.
Some trainers even use the rest period to address their horses’ minor injuries and fine-tune their fitness. They do this to ensure that the horses reach peak performance when they return to the track.
Accordingly, punters considering wagering on rested horses must consider their training program during the rest period. They need to thoroughly look into the horses’ workouts to gauge their fitness and readiness.
MYTH: Horse Racing Events are Rigged
FACT: Similar to other sports, there are racing authorities and governing bodies that regulate and closely monitor horse racing. They implement strict rules and regulations to maintain a level playing field, deter cheating, and uphold the equestrian sport’s integrity.
There have been attempts, often by criminal organizations, to control the outcome of some races. However, these are exceedingly rare as horse racing events undergo so much scrutiny. Regulators, industry professionals, and the horse racing and betting community prioritise fair competition and are vigilant for any unsporting behaviour that could affect the welfare of the horses as well as tarnish the sport’s reputation.
MYTH: You Can Make a Living with Horse Racing Betting
FACT: Any betting activity involves a mix of luck and skill, and horse racing betting is not exempted from this. It would not be easy to make a living by wagering on horse races.
Some individuals have had success in horse racing betting; however, they are a small percentage of the overall horse racing betting population. These individuals have made wagering on horse races a professional activity, spending extensive hours on research, data analysis, and strategy development. Professional bettors also possess a deep understanding of the equestrian sport as well as the various factors that influence race outcomes, such as track conditions and horse forms.
In contrast, average bettors may have a much more challenging time making a living with horse racing betting. Just as with other betting activities, horse racing betting odds are stacked against bettors, and their winnings may be smaller compared to their initial bet. Bettors should treat horse racing betting as a source of entertainment for a healthier betting journey. This can enable them to effectively manage their expectations and enjoy the thrill of the races.
MYTH: All Horse Racing Bookmakers are Reliable
FACT: Not all online horse racing bookmakers are trustworthy—the industry is not immune to dishonest bookmakers and betting platforms seeking to take advantage of horse racing bettors. Thus, it is crucial to choose a sportsbook betting Singapore platform that is safe and secure to use.
A trustworthy online bookmaker, like 88ProAsia, licensed by reputable regulatory authorities generally adheres to industry standards and safeguards fair play, timely payouts, and transparent practices within the platform. It also employs security measures to protect its client’s personal and financial information.
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