You’re ready to dive into the thrilling world of each way horse betting, aren’t you? Before you do, it’s essential to know the common pitfalls that can trip up even the most seasoned bettors. In this article, we’ll guide you through the top mistakes to avoid when placing each way horse bets.
One of the key mistakes to avoid when placing each way bets on horses is not fully understanding what each way betting is. It’s not a simple win or lose scenario. There’s a bit more depth to it. So, let’s delve in and get a solid grasp on it.
Each way betting, often referred to as EW betting, is a type of wager popular in horse racing. In essence, it’s two separate bets on the same horse – one for the win, and the other for a place. Betting each way provides somewhat of a safety net, allowing for a return if your horse doesn’t win but still finishes in a paying position (according to the ‘place’ terms set by the bookmaker).
The knowledge of what each way betting is – it’s this double-layered approach – can help you navigate your betting journey more effectively. Forgetting this key detail is one of the many pitfalls punters fall into.
When placing an each way bet, you’re essentially betting twice. One bet is on the horse to win the race, and the second bet is on the horse to finish in one of the place positions.
The number of places paid depends on the size and type of race, and the individual terms set by the bookmaker but typically it’s the first 2-4 positions. So, if your horse doesn’t win but still finishes within these paying positions, you’ll see a return on the ‘place’ part of your each way bet.
If you’re interested in making this type of bet, you can calculate the exact payout amount on David Dooley Tips. Remember, the betting stake is doubled in an each way bet. So if you put $10 each way on a horse, this will actually cost you $20.
One of the major mistakes to avoid when placing each way bets on horses is in the selection of the horse itself. Your choices could make or break your wager. The two common errors here are not investing enough time to study the horses, and failing to check the odds.
One mistake often made by people, especially those new to betting on horse racing, is neglecting to undertake a proper horse research. This research should not just focus on win-loss statistics, but also delve into critical factors like the horse’s form and class.
In horse racing terms:
- Class refers to the quality of runners a horse has faced in its previous races
- Form covers a horse’s past performances over a period of time, typically, their five latest races
Remember, your potential winnings don’t just lie with the horse that has been on a winning streak. A horse with a rough patch in its recent outings can still yield a positive return, especially if it’s been racing in a higher class or if there has been a noticeable positive shift in form that others might have missed.
Another misstep to avoid when placing each way bets on horses is not considering the odds, as they give you an idea about the likelihood of a horse winning a race.
Although odds never guarantee an outcome, they can guide your betting decision. The higher the odds, the less likely the horse is expected to win and conversely, the lower the odds, the better the horse’s chance of winning.
One simple rule to bear in mind is that in each way betting, look for horses with longer odds. These come with larger potential returns for place bets – landing you a tidy sum even if your horse fails to win, but still finishes in the top few places.
While there’s much talk about the importance of studying form, class, and market movements when making each way bets on horses, one key aspect often overlooked is the number of runners in the race. Making this mistake could severely impact your betting success.
Why does the number of runners matter? Well, in terms of each way betting, the number of runners directly influences the payout of the place part of your bet.
For example, let’s say you are keen on making an each way bet on a horse race with five competitors. Do remember that standard bookmakers only pay out for the top two finishers in such a race. Now think, what if you’re making the same bet on a race featuring 16 horses or more? In this case, you’re theoretically in a better winning position because the standard bookmakers will pay out for those finishing in the first four places.
This method is a nifty way of using the number of runners in a race to your advantage. It’s a part of horse betting strategy that isn’t always considered but can significantly boost your success rate if used correctly.
Closely related to the topic of the number of runners, and often perceived as confusing among punters, is the impact of non-runners on each way bets. Non-runners can indeed change the dynamics of a race and alter your betting strategy.
Should a non-runner reduce the number of horses in a race, it might impact the terms of the each-way bet. Say, a horse pulled out from a race featuring 16 competitors. This sudden change would shift your odds, as standard bookmakers only pay out for the top three in races with 15 competitors, as opposed to four in bigger races.
One of the common yet overlooked mistakes to avoid when placing each way bets on horses is the lack of understanding of the betting terms and conditions. Just like in every financial commitment you make, the devil is often in the details. Betting without taking the time to grasp each way betting terms is akin to gambling blindfolded.
Each way betting is a two-fold wager, one for your selected horse to win, and the other for it to place. It’s vitally important to comprehend what “place” means in terms of the bet you’re about to place.
Different bookmakers can have different interpretations for “place”. It can mean anywhere from the horse finishing first to fourth, or even fifth, depending on the bookmaker’s conditions and the number of runners. This scenario can change drastically when you’re dealing with handicap races. Ignoring these terms can lead to unanticipated losses.
With each way bets, an occasional benefit you may come across in popular horse racing events are the enhanced place terms. These are instances where bookmakers offer extra places for each way bets. On face value, these offerings might seem like a boon – but it’s imperative to double-check.
Occasionally, these offerings come with a twist, like reduced odds. Always scrutinize these enticing offers and verify if they will benefit you in the long term. It’s entirely possible that an enhanced place term could lead to decreased profits over time.
As the saying goes, there’s no such thing as a free lunch – and this phrase holds especially true in the world of betting. Remember to dig into the underlying terms and conditions before deciding on your bets to mitigate the chances of unwanted surprises down the line. Next up, let’s dive into how to decide on your stake…
Don’t let common mistakes trip you up in your each way horse betting journey. Remember, managing your stakes effectively isn’t about sticking to a fixed size or letting your confidence dictate your decisions. Instead, it’s about adapting your stake size based on odds and confidence.
Your betting strategy shouldn’t be a slave to your emotions. Make sure you’re making calculated decisions, not just following hunches.
Finally, don’t forget the importance of understanding each way betting terms, studying horse form and class, and keeping an eye on market movements. These elements are crucial to creating a well-rounded betting strategy.
By avoiding these common pitfalls, you’ll be well on your way to becoming a more successful horse bettor.