Punters can learn to build their own horse race betting systems to make more efficient and profitable wagers. Betting systems have existed as same as betting has, with different punters utilizing different betting systems. While most betting systems work if the conditions are right, most betting systems can also result in losses if not applied at the right time. A punter’s betting system and strategy can help save time, resources, and funds in the long run.
How To Build Your Betting System?
A punter can start to build a betting system utilizing excel, R, or any other statistical software to read, analyze and interpret data. A punter also can compare different odds by different providers, select from a range of betting systems, participate in various types of betting markets, use incentives and bonuses, and apply bet sizing and bankroll management strategies.
1. Statistical Software
Punters can utilize statistical software such as python or R to develop their horse racing systems based on past results. Bettors can also use a predict function to estimate the most likely outcomes and make particular wagers on that system. However, learning to use such software may take a few weeks for someone utterly unfamiliar to them. The benefits of using statistical software outweigh the costs associated with learning or implementing such software in the long run. Punters can track horse race data, individual horse statistics, the performance of horses in different types of races, the performance of horses during additional days of the year or times of day, impact of injuries, profitable betting markets, variance, possible outcomes, and other essential data. One problem with utilizing statistical software is the availability of public data, which may not always be available without scraping.
2. Odds Calculator
A punter can calculate the odds of different gaming providers and make wagers on the most profitable bets. They can also make wagers on other betting platforms with varying providers for actual horse races and online events. Some providers may give better offers, while others may have a better return after at least 15 wagers. With the help of an odds calculator, a punter can evaluate the payout of different bets from different platforms.
3. Utilizing a Betting System
A punter can adopt a particular betting system when making wagers on horse races online. A betting system is an established betting method that can be profitable if executed properly. Some horse racing betting systems punters can adopt include:
- The Paroli betting system.
- The D’Alembert betting system.
- The Contra D’Alembert betting system.
- The Paroli betting system.
Apart from horse racing betting systems, punters can also adopt a combination of bet sizing and budgeting strategies to secure their funds. Punters can also choose to adopt specific betting strategies such as ditching developed for horse racing.
4. Betting Market
Punters can make wagers on the first, second, third, or combine all three chances. Choosing which betting market to wager on can be a tricky prospect. A punter can evaluate the different types of betting markets, the payout for each wager, the probability of winning, the risk associated with each call, etc. Each punter will have a personal preference for participating in a particular betting market. Moreover, the types of wagers and payouts vary from traditional horse racing to online horse racing.
5. Utilizing Incentives
Punters can utilize incentives such as bonuses, promotions, paybacks, extra rounds, referral bonuses, and more when making wagers. Rewards incentivize punters to win more than the actual amount wagers. Some types of perks, like rebates, are designed to restrict the number of losses when a punter loses a bet. A punter can win a little extra or lose less by adding bonuses and promotions in both cases. Rewards are key features that drive punters to make their first horse betting wager with a particular betting platform. Some incentives come attached with terms, conditions, or wagering restrictions. Punters need to read the requirements before choosing to secure a specific promotion.
6. Bet Sizing And Bankroll Management
Bet sizing is deciding how much to wager on any particular wager at any given time. A punter can set an effective range which is generally a fraction of the punter’s entire bankroll. For example, a punter can select 0.5% to 1.5% of their total bankroll as the maximum amount to wager on any particular bet. Secondly, a punter can wager a small portion of their bankroll on riskier wagers and a large cut on more predictable chances.