Sport betting is one of the most favourite hobbies of people in Australia. Betting enthusiasts wait for the top horse racing events, such as Melbourne Cup, Epsom Day, Caulfield Guineas Day and Caulfield Cup Day, to enjoy betting. They spend millions of dollars on horse races. However, you can make profitable bets only if you know how to go about.

First of all, let’s take a look at the types of bets you can choose from:

  • Straight Wagers

Straight wagers allow you to place your bet on a single horse only. If you put your money on Win, you’ll collect the amount if the horse comes first. Place implies that you can win if the horse comes first or second, whereas Show means you’ll win if the horse achieves first, second or third positions. Across the board is an expensive bet in which you can combine Win, Place and Show bets and increase your chances of winning.

  • Exotic Wagers

With Exotic wagers, you can invest your money on multiple horses in a single bet. It is an expensive type of bet that is suitable only if you have experience in straight bets. With some past experience and careful planning, you can make it big.

How to Win Horse Racing Bets?

  • Specialise in One Area

A large number of horse racing events take place around the year. Instead of trying to engage in different types of races, you should stick to a single area. It will allow you to get a better grip of the game and develop an effective winning strategy.

Gather as much information as you can, about the type of horse racing you are most interested in. Look for some expert tips and develop your strategy accordingly.

  • Set Odds on Your Own

Expert opinions and predictions can help you win, but you need to set your own odds if you want to make it big. Be smart with your bets and refrain from putting money on a horse just because you want it to win.

Online gambling sites allow you to place your bets on horse races conveniently. Check out BlueBet review and bonus bets.

  • Consider Weather Conditions

Weather conditions tend to affect the results of racing events. Therefore, update your betting strategy accordingly. During summer months, the weather gets hot and dry, which affects the performance of horses and the surface of ground. Consequently, the race results may vary from your expectations.

  • Record Your Bets

It is recommended to keep track of the bets you have placed on horse racing events. Review this record from time to time in order to improve your betting strategy. It will keep you disciplined and increase your winnings in the upcoming events.

  • Place Bets on Emerging Stars

Stay away from mainstream opinions if you want to make profitable bets. Beginners tend to put their money on big names. However, you can increase your earnings by opting for emerging stars. Analyse the results of past events to identify the riders that can beat favourites.