The Most Popular Betting Myths

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Updated: February 16, 2017

Sports betting has its facts and myths. Horse racing has its fair share of myths that are propagated by the stakeholders of the industry, perhaps with the intention of maintaining the industry, or boosting the profits they earn from the venture. Here are some of the most popular horse race betting myths.

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Bookmakers Are Always Right

This is perhaps the most popular myth in sports, and not just in horse racing. Novices and experts alike hold the belief that the odds set by bookies reflect the outcome of the result, which is entirely not true. Even though the odds only predict the most likely results of the race, they do not guarantee it will end in a particular way.

No bookmaker can confidently claim the ability to predict the outcome of an event; being experts and well-versed in the history of the industry, they can only analyze an event critically, review the previous performances of the steeds, and using this data, they can come up with odds for each race, which in most cases, are less than the fair value. Cheltenham Festival 2017 info and Grand National 2017 betting-related data are some of the most sought-after right now, as these events are approaching. The Melbourne Cup is also one of the most important of the year.

Tipsters Have Inside Information

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Let know one lie to you that the info fed by tipsters are always legit. It all boils down to doing a critical analysis when setting up the odds, which then informs the tipsters on the likely outcome of an event; therefore, it has nothing to do with fixed matches or anything of that sort. Many novices tend to rely on their tipsters for betting, and end up burning a hole in their pockets.

Rather than rely on the tipsters, it is better to conduct your own analysis and determine the best options on which to wager your money. With horse race betting, you can review the performances of the steeds and get to understand how they’ll handle a particular race, and use this information to place your wager. Who knows, you may end up smiling as you cash out your winnings for the day.

You Can’t Make A Living From Betting

We can’t deny there’s risk involved in betting, and if you don’t have your strategies in check, you will not earn a dime from gambling. Horse races aren’t any different because if you don’t use the right methods of betting, then it’s not doubt that you will lose out on your investment. However, many punters are raking in huge winning from gambling in horse races.

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They do extensive research on the available races, review the participating steeds, and wager their money on the horse that shows the most potential to win the competition. The end result is substantial winnings for them.

However, if you think you can just wager your money on any horse and cross your fingers hoping to win, then you will lose out without a doubt, and with such results, you will end up thinking that gambling is a sure way of losing your money. The truth is you can make a living from betting on horse races, provided you play your game using the right strategies.

Avoid High Odds, They Rarely Win

This is another myth we need to debunk. You need to understand that odds are just a probability of the chance of a race ending in a certain way, and just like life, it’s inevitable for an unusual upset to occur. Even though bookies offer low odds to the most likely winner, chances are that the underdog can cause an upset in the game by edging out the big players, and this is where many punters reap lots of profits.

Case in point: the 2015 Cheltenham Grand National meeting where an underdog, Many Clouds, caused an upset by edging out Thistlecrack, a legend, during the horse race competition. If you conduct a thorough analysis on the given odds and compare the competing steeds, you will find some high value odds, where the underdog has more potential to take the win, and you can end up winning big if the race ends in your favor. So avoiding the high odds only affects your chances of winning big in horse race betting, and you should review your betting strategies if you want to boost your winnings.

Risk Free Betting Doesn’t Exist

If you are one of those skeptical noobs who think you need to invest a lot of money to win substantial amounts, then here’s a shocker for you, you can make a lot of profits from risk free techniques! Arbitrage betting works for many punters who understand the workings of profit betting. Matched betting is also quite viable considering that you get the opportunity to earn more from the bonuses and free bets.

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