Betting on horses or dogs is one of the most popular forms of gambling, says Jorge Hank Rohn from Grupo Caliente’s Mexican Sports Betting Company. Why? Because it is one of the most accessible gambling activities. Laws that cover this type of sports betting are often exempt in racetrack betting. However, if you have never been to the racetrack before, this can be intimidating. Knowing how to have fun at these races comes with knowledge on how to bet. The most common bets you make at a racetrack are called, “straight wagers.” However much you win will depend on how many bets you make. A simple example of the most used bets is:
The “Win Bet” is the most basic bet you can make. Place a bet on the horse/dog you think will win first place.
The “Place Bet” is a bet you place on a horse/dog you think will either win 1st or 2nd place in the race.
The “Show Bet” is a bet you place on the horse/dog you think will win 1st, 2nd, or 3rd, in the race.
These are the most common bets used. Knowing this information when attending one of these types of sports betting activities will make the experience much more enjoyable.
More experienced players will practice bankroll management. Bankroll management is an important aspect of being a successful sports bettor. What it does is ensures that you are protecting your bankroll over a long term, which is where winning sports bettors will eventually see profits. There are 3 easy steps to manage your bankroll.
- Determine the Size of Your Bankroll. How much money should you deposit into your “sportsbook?” It really depends on your financial situation and overall comfort level. Note: Never bet any money that you personally cannot afford to lose. Once you determine how much money you would be willing to lose, pick a number that reflects the amount of time you are eager to invest. If you are going to place bets around 3 to 5 times a year, then invest less money than if you are planning on making one bet a day or more. Select a number you are comfortable with and stay with it.
- Choose a Unit Size. Once you set aside your bankroll amount, then you need to determine the percentage of your bankroll that you will wager on any one occasion. For beginners, keep the bets consistent. Choose a unit size between 1-5%. Conservative bettors select unit sizes between 1-2% of their bankroll per single bet, while the more aggressive bettors might consider betting 3% of their total bankroll. Now, if you are extremely confident, then you could increase the unit size to 4-5% of your total bankroll. However, it is recommended to stay somewhere between 1-3% of your bankroll.
- Reevaluate Your Bankroll. In bettingthere are alwaysadjustments that need to be made if you are wining or losing.If you are losing, then you need to dial back on your unit size. When you cut back on your unit size it prevents you from losing more. When you are on a winning streak, keep your unit size at an even percentage that positions your risk leniency.
Losing is a part of sports betting – no matter who you are. Having some knowledge of these rules will help assist you in making reasonable bets and enjoying the experience. It’s important to remember that fun is what it is all about says, Jorge Hank Rhon of Grupo Caliente.