The Long Shot Bet
By: Richard Bleuze
The Long Shot Bet
f you place a bet in every race, you will most likely go home a loser more often than not. I have learned that picking winners does not mean anything. Especially, in this information age when many horse bettors use the internet.
If you like two horses in a race and one of them is the odds-on favorite and the other horse, the long shot, is going to post at 6/1, which horse should you bet? Most horse bettors will follow the crowd and bet the favorite, yet the better bet every time is the horse with 6/1 odds.
In general, odds-on favorites will never win enough races for you to make money long-term. Although, I must confess that I do like betting the odds-on favorites once in awhile! However, long shot betting is where you can make money. In general, you would have to pick fewer long shot horses to win just to break even. On the other hand, for a 1/5 favorite, you need to cash a ticket 84% of the time to break even.
So, why do you bet on odds-on favorites if you really cannot make money.
However, most horse bettors get suckered into betting on odds-on favorites over and over again rather than the long shot. Why?
I believe the that most horse bettors would subconsciously rather lose a bet on a low-priced horse that finishes second or third than they would a bet on a 9/1 long shot that finishes seventh or eighth. These horse bettors let their ego get in the way of making sound wagers.
Many horse bettors have been brainwashed into thinking you can make money following the guidelines outlined in books, TV commentators, and seminars and from the comments you hear tossed about by so-called experts. I suggest that you do not since you are beaten before you have even started.
Believe it or not, you can start making money by horse betting if you can get past the need to find "the winner" in every race and ignore your natural "follow the herd" mindset.
Once you get the long shot mindset and that you must pick a "winner" in every race, you will start making money. Afterall, that is the reason I bet on horses races. Don't you?
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About the Author:
Richard provides articles and information about horse betting on his website at http://www.bettingthehorsesonline.com
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Major racetracks
Major horse racetracks in the U.S. were opened
- at Fair Grounds in New Orleans, Louisiana in 1853;
- at Saratoga Race Course in Saratoga Springs, New York in 1863;
- at Pimlico Race Course in Baltimore, Maryland in 1870;
- at Monmouth Park Racetrack in Oceanport, New Jersey, opened in 1870;
- at Churchill Downs in Louisville, Kentucky, opened in 1875;
- at Aqueduct Racetrack in the Ozone Park neighborhood of Queens in 1894;
- at Oaklawn Park in Hot Springs, Arkansas in 1904;
- at Belmont Park in Elmont, New York, just outside New York City on Long Island, in 1905;
- at Fairmount Park Racetrack in the St. Louis suburb of Collinsville, Illinois in 1925;
- at Hialeah Park Race Track in Hialeah, Florida, near Miami in 1925;
- at Arlington Park in the Chicago suburb of Arlington Heights, Illinois in 1927;
- at Santa Anita Park in the San Gabriel Valley community of Arcadia, California, in the Los Angeles area, in 1934;
- at Keeneland Race Course in Lexington, Kentucky in 1936;
- at Del Mar Racetrack in the San Diego suburb of Del Mar, California in 1937;
- at Hollywood Park Racetrack in another Los Angeles suburb, Inglewood, California, in 1938.
Thoroughbred horse racing in the United States has its own Hall of Fame in Saratoga Springs, New York. The Hall of Fame honors remarkable horses, jockeys, owners and trainers.
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