When you wager on horse racing you need to make sure you exercise a solid bankroll management strategy or you’ll find yourself running out of money early in the day. There are several reasons why people bet and they include the entertainment factor plus the fact that you can potentially make money. If you aren’t having fun then you really shouldn’t be wagering on any events.
If you have $50 on your 888 account and you would like to wager on the day’s races at the Saratoga for instance, then you’re going to need to have a strategy coming into the day. The worst thing you can do is wager your entire $50 on the first race of the day because if it doesn’t hit then you’re going to be out of money right away and most likely not want to watch the rest of the races.
You should set-up a unit value for each of your bets and you should keep them simple such as a 1 unit bet, 2 unit bet and 3 unit bet. For a 1 unit bet you want to keep it small when compared to the size of your bankroll so ideally a 1 unit bet should be a $1-$2 wager. For a 3 unit wager you need to feel really strongly about the chances of the bet winning and you might want to make it an increased wager such as a $5-$10 wager. You should always assign a unit value to each of your bets so that you never have any bets that are larger then they should be.
When betting on horse racing you also need to look for the value bets and not always the horse that is favoured to win the race. Often as the race is close to starting there will be a huge influx of wagers on the race which cause the odds to change at a rapid pace. When a lot of cappers are backing a certain horse the odds will begin to go down for that horse which makes it lose value. The other horses in the race will typically see their odds go up to entice action and you can often find some value in one of these horses. The only time you should be weary about going against the favoured horse near the start of the race is when the horse just jumped into the favoured position. Often serious cappers in the big races won’t drop their huge wagers until right before the race starts and often they have lots of inside information on the race. In this case I would put a small 1 unit wager on the horse just jumped into the favoured position.
As your bankroll starts to increase you will need to adjust the amount of money you wager on each of your unit values. For instance, when you have $50 and you’re betting $1-$2 on a 1 unit wager this is fine, but when you have a $500 bankroll betting $1-$2 isn’t going to win you much money. You should increase your unit size based on how much you’ve increased your bankroll. So in this example if you increased your bankroll to $500 your 1 unit bets should become $10-$20 wagers.