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A Basic Guide To Playing The Ponies
One of the reasons that the popularity of sports gambling has skyrocketed in recent years is its accessibility. It's easy to bet on most major sports because everyone understands the basics, which teams are good and why they win. Horse handicapping, on the other hand, is a completely different and somewhat arcane discipline. Where there are some shared concepts, success at sports betting doesn't guarantee the same playing the ponies. Legendary sports handicapper Jimmy 'The Greek' Snyder was famous for killing the books with his sports plays--and giving it all back with his inept horse bets.
The information below is the bare bones basics of what you need to know to enjoy a day at the horse track. If you're interested in becoming a serious horse handicapper, you're best advice to start with one of the countless books or DVDs that deal specifically with the discipline.
Reading in Fundamental: The first thing you should do when you arrive at the horse track is to purchase a track program and a copy of the Daily Racing Form. The Daily Racing Form (or DRF for short) is the Wall Street Journal of the horse handicapping set. The track program will offer much of the same information about the specific track, but is frequently in a more user friendly format than the often arcane DRF. The basic stats you'll find in these publications are the names of the horses, jockeys and trainers, the morning line odds, and the types of bets available for each race. You'll also have past performance charts, which are the bread and butter of serious horse handicappers. These charts reveal a lot about a horse and what they've done on the racetrack, including its record, where it ran, the quality of competition it ran against, and what position the horse was in at various points in the race. Most tracks have customer service types that are helpful in clearing up anything you don't understand. While asking the personnel in a sports book who they like isn't a wise idea, its OK at the track for a reason well now discuss"you're not playing against them.
The House Doesn't Care Who Wins: One thing that is important for the sports bettor to remember when playing the horses is that its a parimutuel situation. In other words, you're not playing against the house, you're playing against the other bettors. The track just facilitates the betting and acts as a middleman, handling the money for a fee (15 to 25 percent of the parimutuel pool). Another difference is that the track odds are determined by how much money is bet on each horse. If everyone bets on one horse"whether it is the best horse, or just has the catchiest name"it will go off as the favorite. Long odds on a horse doesn't necessarily indicate a bad horse, but just one that the wagering public isn't investing in. Sometimes this can be one and the same, but not always.
The odds in the newspaper are known as the 'morning odds' and are essentially educated opinions. They're not much different than 'overnight lines' in sports betting. They can serve a function for handicapping, but often will not reflect what will transpire when the actual betting begins.
The Basics of Handicapping: Even expert handicappers approach the sport differently and, like his sports gambling counterpart, may place greater emphasis on the importance of certain data than other handicappers. Some handicappers place a great deal of weight on a horses past performances, including the quality of opposition hes run against. Others place greater value on recent workouts, and still others go to the paddock to eyeball the horses and try to determine which ones are ready to run.
Once a bettor reaches a conclusion about what he thinks will happen in a given race, it is still subject to the odds that are available when betting. This is similar to sports gambling, where an underdog may be more attractive due to an excessively high payback potential than he would ordinary, or, conversely, a clear favorite becomes an unattractive wagering proposition due to a prohibitively high price. Its all a matter of the math--if I could speak to the teenagers of America, I'd try to impress upon them the importance of doing well in math for no other reason than its importance in all forms of gambling.
Training and bloodlines: Handicappers often focus on a horse's breeding lineage, considering the quality of the bloodlines and the racing pedigree of his parents and grandparents. Others put great focus on a horse's trainers. An 'A-list' trainer can often get the most out of a horse much in the same way an elite level NFL coach can cause a team to 'over perform'.
The Jockeys: In the simplest terms, jockeys are independent contractors and thus to make money they need to do well. In theory, a jockey wants to get on the best horse possible in each race to maximize his chances of winning. That also results in sort of a chicken and the egg conundrum--are the horses winning because the best jockeys are aboard, or are the best jockeys merely adept at getting on the best horses? Most serious horse players look to the jockey as a secondary consideration. Its sort of a situation where a good jockey cant win with a bad horse, but a bad jockey can cause a good horse not to win.
Find your own style, and maintain discipline: Basically, there's not a 'right' or 'wrong' way to handicap a horse race. Figure out what works for you, and develop and refine your own methodology. As in any form of gambling, don't bet more than you can afford to lose and in particular when you're starting out there's no reason to be making big wagers. If you want to learn more, there's a number of good internet resources including the Daily Racing Form website.
Author Resource:-
Ross Everett is a experienced freelance writer who covers travel, poker and sports handicapping. He is a staff handicapper for Anatta Sports where he is responsible for providing daily free sports picks. In his spare time he enjoys fine dining, fencing and deep sea diving. He lives in Southern Nevada with four dogs and a pet coyote.
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