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Is Betting on the Horse Races a Skill or Luck
Horse Betting

Horse Racing is an exciting event for both horse, rider and the audience observing.

Who didn’t thrill to watching Secretariat, Seabiscuit, and more recently California Chrome? Our hearts soared as they won, we cheered as they crossed the finish line and we held our breath as we watched them fight to win and give it all they had. Race horses and their incredible lives often touches the hearts of American as we get to know them, see their will to win and their ‘never quit’ attitude. Is it any wonder that horse racing has become a pass time for families, and horse lovers alike?

Along with observation is the thrill of placing a bet. Even if it was in the privacy of your own home who didn’t have a personal bet going for any of the big races like Kentucky Derby or Breeder’s Cup? Making a bet can be fun and profitable— it is just important to remember to be sensible and intelligent when making a decision to place a bet.

There was a successful horse racing bettor that said one big truth about betting on the races: you don’t need any skill to bet on horses, but you need plenty of skill to be a winner most of the time. Any person that has successfully bet on horses during his lifetime would agree to this in an instant.

For the occasional bettors betting on horses requires almost the same level of luck as when you want to gamble in a casino or you want to find where to play the best online casinos.

 But, occasional bettors don’t know that the skill in horse racing betting comes from time and thus from experience.

To be a good bettor that doesn’t rely purely on skill you have to be a good observer and study every past outcome, which includes studying the factors that influence the horse’s form, his previous results on different tracks and the weather conditions . The form of the jockeys and trainers is important too. When you take all of those factors into consideration, you will come to the conclusion that betting on the races actually involves skill, but only when you get into it on a deeper level.

Successful gamblers and bettors take gambling like investing. It’s not just picking a horse and wait for your luck to shine. Horse racing is about making the most of your return on investment. And to do that you have a lot of work to do.

 
In essence, picking winners is easy in many cases. You can just look for the horse with the best odds of winning. But the real trick is to pick the horse whose winning chances are higher than the odds assigned to him. That’s where profit lies. You have to understand value and what makes a good and a bad bet. That’s when you can say that betting on the races requires skill.

Here are some stats that you may have never seen. In 33.3% of cases the favorites win, while 66.7% of the time the favorites actually lose. In such cases the winning horses are 5/2, while the favorite is 9/5. Other times it could be a bigger longshot. What I am trying to point out is that it’s all in the math. If you bet on the favorite in every race, you will win only 3 in 10 bets on average, which means you will be left with less money than you hoped or came with. If you don’t believe, you can take a look at all the literature about horse racing betting where this is proved mathematically.

Try this site for more info. sportinglife.com/racing

In conclusion, you need to skills to be a successful bettor on the tracks: the skill to understand the game and evaluate horses, and the betting skill which comes down to knowing where you can generate the most return and how to manage your money. When you have mastered these aspects, you can say that betting on the races requires skill.
 

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