Peter Watton, from matched betting specialist OddsMonkey, explains how even horse racing novices can make a bit of money over the coming season.
Always fancied having a flutter at the races, but worried about making a loss? There’s more to betting on horse races than sheer blind luck, and by studying the odds and using some clever tactics, you can boost your chances of picking a winner. Plus, British horse meets are some of the most glamorous events in any sport, so it’s as good an excuse as any to don your best clothes, quaff some champagne, and rub shoulders with the crème de la crème of society.
Here, I’ll share some tips for maximising your profits, including which horse racing events are set to be the most lucrative during the 2020 season.
How can you increase your chances of netting a profit?
It probably goes without saying that the best way to make a healthy profit at the races is stake your money on a winner. Short of predicting the future, that’s never going to be possible, but there are plenty of factors you can consider that will help you to determine which runner is most likely to come in first.
One of the easiest ways to pick a horse is to look at the bookmaker’s odds. Of course, you don’t necessarily need to go for the favourite: horses with shorter odds are riskier, but you could potentially win more money. You can also find lots of information on each horse in the racecard given out at each event — many will even include a star rating which predicts which runner is most likely to win, with five stars indicating the favourite.
Finally, if you’re serious about making money and minimising the risk of a loss, you could also try matching your bets. This is where you place a qualifying bet on a particular outcome, and then match that bet using the free promotional bets offered by bookies, so you’re covering every outcome. This means it’s lower risk than traditional betting, although it’ll take you a bit longer to gradually build up a decent pot of money.
One major advantage of matched betting is that you don’t need to know anything about the sport, so it’s ideal if you don’t know Aintree from Ascot and you don’t fancy analysing the going, form, handicap, and distance before each race. To learn more about how it works, take a look at our guide to matched betting.
Five of the best race meets for the 2020 season
Here, I’ve shared five of the biggest and best race meetings for the upcoming season. These events have huge prize pots for the winners, which means they attract both the best racers and the biggest attendance numbers, which makes them more profitable overall. Additionally, well-known races tend to be a great opportunity for matched betting, as bookies will usually put on lots of promotional free bets around the time of a popular race.
The Randox Health Grand National
Even if you’ve never set foot in an enclosure or watched horse race on TV, chances are you’ve still heard of the Grand National steeple chase at Aintree Racecourse. Arguably the most famous horse race in the world, there’s a £1 million prize fund next year, which is sure to lure the punters in and ensure big winnings for those lucky enough to pick a champion.
Royal Ascot
Royal Ascot is the most valuable meet of the season, and the Prince of Wales’s Stakes alone has a prize fund of £750,000. It’s also by far the most glamourous meet, and the event is as much about fashion, high society and fine dining as it is about the races themselves. So, you certainly won’t want to miss out on an opportunity to soak up the atmosphere and indulge in a spot of celebrity-spotting. It’s not just the horses where you stand to make a bit of money, either: at Ascot, it’s become tradition for punters to place bets on the colour of the Queen’s hat.
The Cheltenham Festival
Over £4.5 million will be up for grabs over the course of the Cheltenham Festival 2020, which is seen by many as the most prestigious jump racing meet of the season. The Magners Cheltenham Gold Cup — taking place on the 13th March next year — is the highlight of the two-day event, with a prize fund of £625,000.
The Epsom Derby
The Investec Derby Festival is full of great flat races, but the Derby Stakes — or the Investec Derby, to give it it’s full name — is the one to win, with a huge prize fund of £1.5 million. Plus, the Epsom Downs racecourse offers visitors premium hospitality, including champagne receptions, luxurious suites, and exclusive after parties. So, it’s certainly a fabulous day out if you’d like to see the winner cross the post in person.
QIPCO Guineas Festival 2020
The QIPCO Guineas Festival sees not one but two major races: the historic 2000 Guineas Stakes, and the 1000 Guineas Stakes. Both are held on the Rowley mile at Newmarket every spring, offering a very tempting £500,000 in prize money.
Fancy making a few bets this racing season? Take my tips on board, and if luck is on your side, you could just pick a winner.
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