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Horse Racing Betting Strategy

Looking for ways to improve your approach to horse race betting? Whether you’re new to horse racing betting or an experienced player, there will be something for you to learn in this article. Indeed, here are some horse racing betting strategies that you can use next time you are gambling on the races in Ireland.

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Lay betting

The first horse racing betting strategy is lay betting. This is a bet where you are essentially betting on something not to be happy. For instance, you may wager on a horse not to win rather than to win.

This is a more unique wager to place, as you will not be at odds against the sportsbook. Instead, these wagers occur on betting exchange sites within Ireland, and you would be at odds against another player who is predicting said event will happen. Thus, you both place a bet, and if you win, you receive both wagers, while if you lose, you receive none and lose your bet.

Advantages of lay betting

  • Offers flexibility; therefore, you are no longer restricted to conventional markets.
  • Better odds: you may find that lay bets offer increased odds, which is good news if you are successful.
  • Easy to learn: plenty of resources are available online to help show and guide you into lay betting. Some bookies, such as 888Sport, even offer their own guides and articles on the popular horse racing betting strategy.

Disadvantages of lay betting

  • Accessibility: You will most likely have to find a betting exchange to use this horse racing betting strategy.
  • Intimidating: Some new players may find these types of bets intimidating and lack confidence.

How do I place a lay bet?

Placing a lay bet is simple and straightforward. Here is a step-by-step guide:

  1. Find an exchange betting site or a new betting site that offers lay bets.
  2. Create an account or log in if you are an existing player.
  3. Browse the horse racing bets until you find one that you wish to wager on.
  4. Click the odds of this bet and the lay to your bet slip. Here,  it will be up to you to pick the odds and choose how much you wish to bet.
  5. Confirm the bet and wait for it to settle.

In-Running betting

The next horse racing betting strategy we will discuss is in-running lays. These are bets that wager on the horse race once it has begun, like an in-play bet. The advantage and key to this horse racing betting strategy is that you need to watch the odds, as they will change once the race starts.

Advantages of running betting

  • Entertainment: increase the thrill of watching the sport and betting simultaneously.
  • Race day: in running, betting allows you to understand what the race day is like, such as the weather, form, crowd, and atmosphere. All these external factors may influence your betting decision.
  • Cash out: players will likely have the option to cash out their bet early. This is a great benefit because if you are losing, you can cash out to prevent further losses, whereas if you are winning, you might choose to cash out to secure the win.
  • Resources: Similar to lay betting, you will find various online resources to help guide you through this strategy. Sites such as Befair even have a dedicated page discussing the horse racing betting strategy.

Disadvantages of running betting

  • Internet connection: as you are betting live, if you do not have a steady internet connection, it may hinder your gambling experience.
  • Delays: risk time delays ruining the betting strategy.

How to place an in-running bet

Here is a step-by-step guide to placing running bets on a horse race within Ireland.

  1. Sign up or sign into the betting site, which offers live horse race betting.
  2. Make sure you have deposited funds into the account via the cashier section.
  3. Head to the live betting area. This will likely be in the horse racing section, highlighted in live betting, or under a live betting header.
  4. Select the event, and the live betting markets should display.
  5. View the live odds once the game has begun.
  6. Choose, place, and wager your bet.
  7. Wait for it to settle, unless you wish to cash out early.

Value betting

Value betting is often a horse racing betting strategy aimed at beginners, but it can be used by anyone. The aim of this horse racing betting strategy is that you work out the real odds of the event occurring and then compare these with the bookies odds to help support your decision.

Advantages of value betting

  • Logic: This approach is very logical and thus uses evidence and statistics to support your decision and help you make informed decisions.
  • Value betting calculator: if the process of value betting seems daunting, some sites and online articles have calculators you can use to do the hard work for you.
  • Long term: if you play over a longer period of time, then value betting could be good for creating long-term profits and outweighing profits.

Disadvantages of value betting

  • Knowledge: This type of bet requires some type of knowledge to work out the odds. For example, you need to know what the odds are in betting and understand the concept of probability betting.

How to use value betting

Here is a step-by-step guide to using value betting as a horse racing betting strategy within Ireland. This will show you how to work out the value bet odds and their probabilities.

  1. Log into your betting account or register. Head to the horse racing section.
  2. Pick a market you wish to work out and place a value bet.
  3. Find the bookmaker’s probability percentage of the horse racing bet by dividing 100 by 2.4.
  4. Then you need to find the true probability, which is done by checking the odds and finding the average out of them.
  5. Then you divide the bookies probability by the true probability, which you worked out, and then divide the bookies probability to get your outcome.

Once you understand how it works, it can be widely applied.

Dutch strategy

This is another common horse racing betting strategy that involves betting on multiple horses. Therefore, the reasoning behind this horse racing betting strategy is that you are wagering on more horses to increase your chances of winning. Indeed, rather than betting all your wager on one horse, this strategy suggests spreading it across the highly likely horses rather than just one.

Advantages of dutching

  • Simple: This strategy is easy to wrap your head around, making it great for new players.
  • Widely applicable: dutching can be applied to many horse markets in Ireland. This means you can be flexible with what you wager on.
  • Less risk: this helps to decrease risk by spreading the risk across multiple horses.

Disadvantages of dutching

  • Reduced winnings: even though expanding your budget across different horses increases your winnings, it will reduce the amount you get from the win if successful.
  • Expensive: This can be a pricey horse racing betting strategy, as it requires a higher budget to spread the costs.

How to use the Dutch horse racing betting strategy

Here is a simple step-by-step guide to applying the horse racing betting strategy of dutching to Ireland.

  1. Log in or sign into your chosen betting account.
  2. Ensure you have funds in your account.
  3. Find the horse racing markets
  4. Select a market you wish to wager on and do your research on a few of your best choices.
  5. Place separate wagers on a singular market.
  6. Wait for these to settle and see the results.

Each-way betting strategy

Each-way betting is a bet that involves two separate bets. One bet is the self of the bet, and the other is the second bet. Therefore, this increases your chances of winning and can also increase your winnings in general. A common horse racing example of an each-way bet is where you bet on a horse to win and whether your horse will finish in a certain place if they don’t win.

Advantages of each-way betting

  • Popular: This is a popular horse racing betting strategy within Ireland due to the fact that it increases the player’s chances of winning by expanding your betting opportunities.
  • Beginner-friendly: This horse racing betting strategy is also ideal for those new to betting on horse racing; therefore, it is easy to understand and will help improve your betting confidence.
  • Accumulator bet: if you wish, you can place an accumulator bet with each-way betting, again providing more flexibility to this horse racing betting strategy.

Disadvantages of each-way betting

  • Odds: Due to the fact that these odds have less risk, sometimes the odds may be less favourable due to this.
  • Double risk: there are two bets within an each-way bet, so don’t forget that your risk is therefore doubled. This could lead to your financial losses being larger than anticipated. So make sure to keep an eye on budgets.

How to place an each-way bet on horse racing

Here is a step-by-step guide to placing an each-way bet on horse racing within Ireland.

  1. Sign up or log into your betting account.
  2. Make sure you have funds in your account.
  3. Head to the horse racing section.
  4. Find a race you would like to wager on.
  5. Select the each-way bet market and place your wager.
  6. Wait for it to settle and see whether you were successful.

 FAQ on horse betting strategies

Here are some commonly asked questions regarding horse racing betting strategies within Ireland.

Can I place a lay bet or an accumulator bet?Most of the time, you will be able to make an accumulator bet using lay bets. This can be found on the betting exchange site, where there will either be a prepaid layout or you can make your own. When you get to the stage where you add the lay bet to your betting slip, you will simply add more than one.
What are some recommended sites for lay betting in Ireland on horse racing?Here are some regulated sites if you wish to place lay bets on horse races in Ireland: Bzeebet, BetVictor, All British Sports, and Tote.
Is in-running betting and live betting the same?Yes, in-running betting is a horse racing betting strategy used within Ireland to take advantage of live odds when wagering.
How do I know if the horse racing market can be used as a value bet?You simply apply the bookmaker’s calculation and take away the true probability, then divide the outcome by the bookmaker’s probability. As long as you understand how this horse racing betting strategy works, you should be able to openly apply it.
What is the best horse market for the horse racing betting strategy of dutching?Try a matched outcome, as you can bet on the different horses to win.
What is the purpose of using dutching in horse racing?The point of dutching as a strategy is to help reduce the risk of your losses by betting on more than one horse in one market.
Does using a horse racing betting strategy guarantee a win?While they can help provide a methodological approach to betting, they will not guarantee your success. So keep in mind that just because you use a strategy, it does not guarantee the win; it just increases your chances. Therefore, make sure to consider this when placing your wagers.
What are some good betting sites available in Ireland for each-way betting?Good horse racing sites in Ireland for each-way betting are the following: Tote, BetUK, LeoVegas Sport, Bet365, and Betfair, to name a few.