Horse Racing Betting – Know Your Funding Limits

If you’re a gambler, you’ve probably bet at a sportsbook at one time or another. And you’ve probably bet on any number of sports; baseball, football, soccer, etc. The problem I have found with sports betting in general is that you don’t get very good odds. In fact, you get less than your money back when you win. That requires a win rate above 60% to be profitable. Not many people can be that precise when it comes to picking winners. Horse racing is the friendly alternative to sports betting for one simple fact: you get odds. But to win the track in the long run, you need to learn how to manage your bankroll.

What is a bankroll? It is the amount of money that a player has set aside to invest in sports betting. This should be a fixed amount of money, like $1,000 or $500 or $5,000. You should not deposit more money weekly or monthly. If you continually deposit money into your betting account, it will prevent you from realizing whether or not you have the ability to become a professional player. When you open an account with an online bookmaker, or open an online horse racing betting account, start with a set amount and then let the balance decrease or increase on its own.

How much should you bet? The general rule of thumb for horse racing betting is to never wager more than 2% of your bankroll. So, if you have $1,000 betting capital, you should never bet more than $20. If you really want to play conservatively, you should stick to 1% bets, which would equate to $10 bets based on $1,000. And, this is important, your bets must be winning bets. The Win bet is the standard bet for professional players.

Should you adjust your bets over time? The simple answer to this question is yes. If your bankroll drops to $500, then you need to adjust your bet amount accordingly. In fact, I think you should adjust your funds in 25% increments. Example: If you start with $1,000 and go down to $750, you need to adjust your betting limit to the budget of $750. And if it goes up to $1,250, you need to adjust your minimum bet to 2% or 1% of $1,250.

Money management, or ‘fund management’, is the key to success in horse racing. After all, if you can’t place a bet because you’re out of funds, then you’re out of the game entirely. You must learn to manage your money if you want to be successful in horse racing!