Any seasoned punter will be able to attest to the fact that learning how to properly manage a bankroll is one of the most important factors in higher success rates, regardless of the kind of sport that they are betting on. The bankroll essentially works as a budget, giving the bettor an idea of how much money they have available, how much they can spend on bets, and how often every month they can indulge in their favourite pastime.
When it comes to success with horse racing betting, having a bankroll on hand can usually mean the difference between a series of wins or a series of losses. Keep reading to learn more about bankroll management when utilised on horse racing betting.
Short Priced Horses
It’s incredibly popular to back short priced horses, which means that the horses in question usually have odds of around 3/1 or under. This means that starting with rather small bet amounts is the best way to approach this specific wager. The small amounts greatly reduce the overall chance of going broke when betting on the course, although it doesn’t entirely remove the risk.
The strategy can be quite painful in the long run, as it means making small, incremental profits that might take years to accumulate into something meaningful. It does, however, make a lot of sense of new bettors to give this strategy a try as they gain more experience and learn how to manage a larger bankroll.
A punter will need to take the time to try and calculate their projected returns, rather than focussing on just the stage. With a bankroll of, say, $100, it would be best to try and earn back around $10 on every single win that occurs, which represents 10% of the total bankroll. At 3/1, a smaller $2.50 bet is most efficient, but if the horse in question is priced by bookies at even money, then doubling the betting amount is a good idea.
With horses that have much lower odds, such as 20/1 for example, a much smaller bet of 50 cents would be far more appropriate. Now the bets that are out are much more likely to earn back that much needed 10% for every win that takes place. Ultimately, and with enough time, even a small bankroll can be expanded, meaning that after a certain number of bets, the punter can expect to double or triple their bankroll, which they can also use on other betting, such as when playing at mobile casinos in Canada.
While frequent small wins can eventually add up to a substantial amount of money, a punter will want to try and temper their expectations. There’s no type of betting on earth that can guarantee a life-changing amount of cash, but if a punter takes the time to learn how their bankroll can be made larger through incremental but consistent wins, even if they are only a few percent, it won’t be long until the numbers start adding up in a big way.