Can you make money from horse racing... that is a $64,000,000 question! There is no magic formula and it can be frustrating trying to find and fine-tune a 'reliable' horse racing betting strategy that generates consistent profits. To compound the problems when you come across a good system that generates profit, you might find that it is only applicable to a large number of races – and this means placing a lot of bets and staking a lot of money... and we know that the more you bet the higher the risk of wiping out any small profits that you make.
Unsurprisingly, many people each year want to know “can you make money from horse racing?”, and the answer is simple: yes, but only if you’re willing to make some effort, this could be either by becoming familiar with how to read form or investing in a proven horseracing tipping service. The former means devoting many hours a week to the craft of reading form accurately to beating the bookmakers, the latter means there's no work on your part but placing the advised bets but obviously there is a cost involved.
However, it is certainly possible to develop a betting strategy based around backing, laying and matched betting. In fact, approximately 1% of horse racing gamblers make a living from the sport.
When adopting a strategy based around trading, laying and backing, it is really important to treat your gambling funds like any other financial investment. You need to assess how you can minimise and spread risk – just like you would on the stock market. You should find a way to generate consistent profits and for steady growth in your betting bank rather than trying to 'get rich quick'.
Finding a winning system...
Of course, you may be wondering whether you have to put hours of research in if the experts have already established several tried-and-tested methods – and the good news is that for a reasonable monthly fee, many of these tipping services will share their advice based around the following strategies:
Backing to win
Backing to win based horses whose form says that they should really be at shorter odds than they are quoted in the betting market can yield large profits, particularly when it's a favourable outsider running at long odds, this is what we call a 'value bet'. When subscribing to receive betting tips, you can also expect to receive expert analysis on the horses most likely to be first past the post.
Laying to lose
Making money from horse racing isn’t all about backing the winners. In fact, it can be lucrative to lay the odds for weak favourites on an exchange site like Betfair. Many profitable lay systems concentrate on flat turf racing, all-weather events and jumps racing, with a fixed-liability approach to help keep profits to a maximum.
The most reliable way to make money from horse racing involves trading on Betfair’s pre-race markets. With the right knowledge, you too could learn how to trade effectively and enjoy profits of around £200 per day.
Subscribing to a system or a tipping service
A reputable gambling system that provides you with the strategy needed to make a profit should entitle you to lucrative daily back bets, access to videos that teach you about lay systems, information on Betfair trading and a little bit of personal mentoring from your expert of choice, as and when you need it.