These are the ten rules which everyone regardless of experience should learn and apply in their own horse racing betting activities online.
Commandment # 1
Do Not Bet With Money That You Need – Before you say “not that old chestnut” I’d like to point out that this can also mean not to use borrowed money either. Online bookmakers accept credit cards with just a few clicks, and the temptation is to cover your losses with a larger bet. It never works in the long run and is potentially a very dangerous thing to do.
Commandment # 2
Get To Know Every Type of Race – When evaluating each horse on its merits, please be fully aware of the conditions of the race they are running in. There are probably more variations of races than you realise and by getting to know them all you are arming yourself with another tool in your arsenal of betting knowledge.
Commandment # 3
Keep a Record of Your Bets – This is very important mentally as well as practically. You need to be in the correct state of mind when placing bets online. Awareness of what you have done previously will help you keep focused on the main goal, which is of course to make a profit. You will also benefit from taking notes of any trends that appear in your betting plan.
Commandment # 4
Be Careful When Betting Odds-On – Although a lot of people avoid betting odds on and prefer to either trade or lay on the betting exchanges they do provide a lot of winners. And if you are clever and know what to look for you can pick out the most likely wins.
Commandment # 5
Avoid Large Bets at the Start of Each Season – Ground conditions can affect results drastically and at these times of the year it is best to sit back and observe. Forget about using form from one season to the next.
Commandment # 6
Do Not Base Selections on Just 1 Factor – Races are won or lost depending on any number of variables. Do not be mislead by attractive form figures, especially in handicap races. Always be aware that every race is different, every course is different, and you should go into each bet with an open mind to what could happen in the next unique race.
Commandment # 7
Get Better Odds by Using a Bookmaker Comparison Site – You may be surprised when you see the difference in odds that some bookmakers provide. Before they update themselves in line with other online bookmakers, as long as you’re quick enough, you can get a real bargain by checking Oddschecker.
Commandment # 8
Don’t get greedy – Trying to win too much too soon is a surefire way to disaster. You need a plan, and you need to stick to it. Only through carefully selected bets and pre-thought out stakes will you see a steady rise in your betting bank.
Commandment # 9
Learn That National Papers Reduce Odds – Daily rags such as The Sun and The Daily Mirror provide selections every day with dubious level stake results. This does not stop people following them at either the bookmakers, online or the racecourse. This flock of what I prefer to call ‘sheeple’ can shorten prices but that doesn’t mean that the horse is any likelier to win. The good thing about this is that if you fancy another horse in that race, you will get better odds.
Commandment # 10
Do Not Make Fun Bets – I am not saying not to have a cheeky punt on the Grand National each year, but don’t get consumed with placing bets for pleasure as you’re in it to make money, and you will only do that by getting serious and treating it like a business. Professional gamblers have patience and aren’t just doing it for entertainment.