Horse Racing Trading Tips – with the advent of the Internet, there are many different ways that you can use horse racing to make a profit.
One of the best and quickest ways to make money from betting on horse races is through online horse racing trading.
Horse Racing Trading Betting Odds
You may have heard of betting odds, but you may not understand how they are actually used.
Betting odds are a mathematical calculation based upon the statistics of previous races and past performances in which the horses competing are compared.
Before a horse race starts, each horse will be given certain odds to rank them in each race, from the fastest to the lowest. All the odds are based on previous performances.
Just before a race starts is the time when most of the bets are placed by the punters.
To make money in trading horse races, this is exactly what you want to happen. You want the odds to rise and fall, because then you can buy and sell and make a margin.
The same is true when the race starts and you will need your wits about you as fluctuations increase rapidly.
How To Make Money Horse Racing Trading?
So, how do you make money this way? Here is a simple explanation and example.
About 15 minutes before the race you have a look at all of the odds for the horses that are running. Most websites will show you what the past 3 odds have been and you will be able to see if the price is rising ot falling.
Most prices will rise the closer you get to the “off” although if s lot of people start backing the favourite, then that price could fall.
Let’s say we take a horse that is in the middle at maybe 5.0. We can have a look at the history which shows it was 4.75 and before that 4.5.
This is indicating a rise in the odds as we get closer to the start of the race.
We could put on a lay bet of £20 at 5.0 and watch to see if the price goes up. Please read this explanation on placing lay bets at exchanges first on the Matched Betting page.
So, the price rises to 5.75 and we could cash out for a profit. How?
Basically by selling our £20 @ 5.0 to someone for 5.75.
£20 x 5.0 = £100 and £20 x 5.75 = £115. £115 less £100 = £15 profit! Nice for 2 minutes work.
With experience you will get to know movements in the markets and you should always use very low amounts when practising, say £1.
It has to be said that the movements can go up or down and there will be times it doesn’t return a profit, but hopefully this will give you an idea of how basic trading works. Have a look at the Oddsmonkey website.
See also betfair trading strategies.