Horse racing betting sits in something of a grey area when it comes to the kind of profits that a punter can expect from their wagers. Some people can go to the track and lose all of their savings in a day, while others can use horse racing betting as their primary source of income.
It can take serious dedication when it comes to making money from horse racing betting, but often those that take the time and dedicate themselves to it can walk away with enough money to live extremely comfortably.
Short-Term Profits
Most punters on the circuit are usually just casual betting enjoyers, and while they are certainly looking to make some extra winnings on the side, there’s usually not a desire to become rich from it. This is the kind of betting that the vast majority of people tend to indulge in. This usually involves going to the local bookie or finding one online, searching for any upcoming events, and then putting money on a winning horse and jockey combination.
Most people are going to put their money down on the favourites, and these kinds of bets tend to be quite low risk, but a punter should also expect any winnings to also be quite low if they are successful. For the punter that just wants to have some fun with friends and have a chance at winning money, casual betting is definitely the way to go.
Long-Term Profits
A lot of punters eventually fall in love with horse racing betting, often to the point where they can see themselves taking it up as a full-time career. Taking up betting as a career is not easy at first, but it can ultimately become a viable way of making serious money, more than enough to live extremely comfortably.
The professional bettor will devote a large portion of their time to this type of wagering, which usually involves doing countless hours of research into the various horses that are going to be competing. This research can extend back months or even years to get a good idea of how the horse might perform in any upcoming races.
Like a pro slots player, taking up horse betting as a full-time career is not something done on a whim, and is recommended to those punters that are excellent at doing background research, have gained valuable insight into the world of horse racing, and are able to win consistent amounts of money over time.
Increasing Profits
One of the best ways to start bringing more profits in, as mentioned earlier, is by learning to how do research on the horses. Injuries, rest times, and previous win/loss ratios make for vital information that the punter will need when placing their bets. All this information needs to be combined into a single dataset that can then be used to make much more accurate predictions of how a specific event will turn out.
