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Common Mistakes You Need to Avoid in Horse Racing Handicapping

Horse racing is one of the most popular forms of sports betting among bettors in the US. Watching the horses run to the finish line is thrilling, not to mention that you can win big in horse racing, especially if you know what you’re doing. However, as a punter, you want to maximize your winnings as much as possible with every bet you make.

That said, handicapping is a must-have skill for this sport. But even if you’ve already handicapped horse racing a lot of times before and consider yourself a veteran, there are still mistakes that you can sometimes make, and these mistakes can cost you a lot if you’re not careful. That said, here are some common mistakes that you need to avoid in horse racing handicapping.

Losing Value in Parlays

Did you know that when you make the most out of your winnings in a parlay or in any exotic wagers, you lose some value to your sportsbook? When you build a parlay, the payout you should get is the odds that those bets would likely win. You can calculate your payout by multiplying the probabilities of your bets. However, these odds are slightly reduced by your sportsbooks. This is because sportsbooks figure that you won’t notice that much since the payout is already big for your smaller bets.

As a serious bettor, you should not ignore this. These values affect your winnings greatly, and you’d be missing out on bigger payouts. But does this mean that you shouldn’t make parlays? No, but you should be aware of what is going on when making a parlay. One way to avoid having much of your value given up is to bet online when making a parlay.

Another thing you can do is to not make your bets have odds of -110. This is because sportsbooks pay parlays based on a chart. This chart tells them what to pay 2-teamers and 3-teamers, which means that they already know what to bet with a -100 odds. And as we know it, this shaves off some of your value. That said, make bets that total to -115 or -120. This way, the sportsbook is forced to calculate your true odds.

Chasing

If you ask any sportsbook the quickest road to the poorhouse, the answer will most likely be chasing. Increasing your bets if you’re behind is absolute madness, and if you’re constantly doing it, you will never break even. If you believe that a win is due after a string of losses, that’s completely false. The chances of you winning will still be the same in every horse race. That said, even after a string of losses, your win will not be due because your chances of winning will not increase.

For example, if you’re behind in your eighth race, you should not get all your losses back by increasing your bets significantly. If anything, reduce the size of your bets to minimize your loss. In fact, the only time you should increase your bets is when you’re winning, and the size increase should be gradual.

Trusting in Systems Too Much

Systems are great, and every serious bettor is constantly looking or making one that can help them win more bets in horse racing. Of course, we won’t rule out that there are systems out there that are accurate enough to help you win significant bets, but you have to admit that there are also systems out there that are not useful and can make you lose significant money. There is no system out there that you just have to plug some numbers in, and then you win all of your bets. That’s not realistic at all.

But does this mean that you shouldn’t use systems? No. In fact, a lot of veteran bettors are encouraging people to use systems since they are helpful. Also, there are people out there smart enough to make their own systems and make them work for their own good. We’re saying here that you shouldn’t just blindly trust a system that you think is good. In short, never put too much faith in systems.

Here’s something to remember about systems. Once a system tells the winner of a race, their creators would then do a sniff test and see if the results are accurate enough to bet on. This means that even though they are the creators, they don’t put too much faith in their systems. Thus, you can check online platforms for some tips, such as TVG Wagering Guide, to keep informed about the latest odds and wagering systems in horse racing.

In fact, before they make their own bets, they apply some personal opinions, predictions, and gut feelings and add them to the mix. And that is what you should do as a bettor. In short, they know their system is good, and they trust it, but they shouldn’t just blindly follow everything it says.

To Conclude

These mistakes are common enough that some veteran bettors out there still make them in horse racing. Veteran or not, you should not be careless enough to make these mistakes as they can affect your performance in horse racing handicapping, leading you to lose more winnings in the process.

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