It can be difficult to get a straight answer for most topics in the modern age. Where a study claims one thing, another will claim something different. Everyone has a differing opinion about just about every matter imaginable, and while this is mostly harmless, it can breed misconceptions and myths that permeate certain industries, with horse racing betting being a great example.

A bettor will have no issues at all finding information about betting on horse racing, but it can be difficult to quantify all that information and make it applicable on a human scale – especially when we’re talking about making a profit every month. To that end, let’s look at this comprehensive breakdown of whether horse racing betting can be profitable or if it’s worth switching over to different sports betting endeavours.

Let’s Start With The Statistics

It’s easy to think that every single horse race is completely up to chance, but this isn’t the case at all. In fact, chance plays a relatively small role in the grand scheme of things – and it’s why bookies will tend to set specific odds on certain horses. It doesn’t take a lot of digging to figure out whether a horse is going to have a better chance of winning or not.

In fact, lots of experts believe that once a horse is on a winning streak – as in it’s won one or two events within the last week – it’s much more likely to find success on the track. Of course, this may not always be the case, things can change at a moment’s notice, but when we’re looking at the overall statistical averages, it’s a safe bet to wager on a horse that has been doing well over the last week.

Finding The Right Sources

Focusing on a good source of betting information is another way of claiming more success when it comes to horse racing betting. Don’t ever rely on word-of-mouth; most people tend to have no idea at all what they are talking about, and those that do have an idea typically don’t want to share their secret to success, whether it’s for horse racing or golf betting.

Thankfully in the Age of Information, it really doesn’t take much to get a hold of the latest info and use it to make better informed decisions. Many expert bettors will even use the local newspaper as a means to determine whether they should put money down on a particular horse or not.

Make The Bankroll Work For You

Ultimately, horse racing betting can and will make a bettor rich, but only the bettor that knows what they are doing. And a part of the process is learning how to create, maintain, and manage a long-term bankroll. This is a backbone of a good betting system, one that doesn’t focus on major profits over the short period, but rather on meeting small profit margins as many times as possible to maximise total gains by the time the month comes to an end.