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How to read horse betting books to read ny times sports betting

How to read horse betting books to read

My third assumption is you have at least a slight interest in finding out how and why certain things work in horse racing. For example, commenting on blinker changes on a horse and its impact on your handicapping is one thing. But I assume you want to know how and why blinkers work on the horse so you have a better understanding of how that affects your handicapping.

Wondering what in the heck blinkers are? I get to that eventually. When I organized the Table of Contents for this book, I tried to put myself in the reading chair of a newcomer. Some people like to read every word and devour each thought like a morsel of caviar.

Hurry up with the hamburger and small fries, and make it snappy! Of course, plenty of readers lie somewhere in the middle of these two extremes. Each chapter is meant to be self-contained, meaning you can read a chapter in the middle of the book and understand it without reading everything before it. And because a winning horseplayer is built up layer by layer, each chapter has a progression from start to finish.

No form of gambling is ever that easy to master. Part I begins with me telling you everything you need to know in a nutshell, that is about betting on horse racing. After you have all that down, you get into the many different types of horse racing. You need to be familiar with the horse, jockey, trainer, owner, racing surfaces, and equipment changes. If handicapping is comparable to cooking a good meal, then you need to know the ingredients and how to use them. Any horse racing recipe begins with the Daily Racing Form.

In this part, I show you how to read it and point out key information to look for. Then I introduce betting ideas and money management. In this part, I bring you into the world of exotic wagers, where your chances of winning go down, but the payoffs go sky high if you do win.

Not enough? Playing the ponies from any place but the racetrack is easier than ever. Here I also introduce two breeds of horse racing, harness and Quarter Horse, that are as exciting to watch and bet on as the Thoroughbreds. The Part of Tens is in all For Dummies books, and this book is no exception. Read the lists, decide whether you agree or disagree, and let me know what you think.

Horse racing has its own jargon. They point out bits of information that you should pay particular attention to, or that you can skip altogether in the case of the Technical Stuff icon. Following is a brief description of each icon that appears in this book:. This icon highlights those stories. Ideally, you should read from cover to cover. The information is sequenced to take you through the horse racing and handicapping process step-by-step. For the recreational handicappers, this book is an excellent reference tool.

If you want to bone up on a topic or two, read over the Table of Contents and find the chapters that look interesting and helpful. Good help is often hard to find. Good luck betting on the horses! H orse racing is unlike any other American spectator sport. In this part, I introduce the different types of horse racing and the inner workings of the horse races.

Contrasting the different kinds of horse racing. Getting a grip on handicapping. Introducing yourself to the world of parimutuel wagering. Exploring the basics of successful betting. Finding out where to bet. Testing your knowledge: A horse racing quiz. Nearly 40 states in the United States conduct some sort of live horse racing. It has been a legal form of gambling a lot longer than casino gambling. In fact, back in the s, horse racing was right up there with baseball and football among the leading U.

Horse racing has slipped in popularity. But since the mid—s, the game has been making a steady comeback. Both lost the Belmont Stakes to narrowly miss a Triple Crown, but record television ratings were set, and crowds of more than , people came out to see them try to make history.

I try to give you answers about horse racing before you even ask the questions. I focus a lot on betting, but I still take the time to explain the nuances that makes horse racing such a uniquely great game. Horses have always been a part of American culture. In early times, the animal was used in farming and transportation — so much so that when the automobile was invented, carmakers used the term horsepower to define how powerful the car engine was.

It was a term that people could easily understand. Three types of horse racing have evolved in the United States, each of which has its own peculiarities that attract a loyal following:. Standardbred or harness racing: In this form of racing, a driver sits behind the horse in a small cart called a sulky instead of riding atop the horse like a jockey. Chapter 19 is devoted to harness racing information and handicapping tips.

Quarter Horse racing: These horses are bred for break-neck speed, and the races rarely exceed yards. Head to Chapter 20 for the ins and outs of this exciting form of racing. All races are run at a racetrack that holds licensed race meets. Each state has a racing commission that ensures that all the rules of racing are being followed.

Due to the fact that people are betting on the outcome of horse races, the racing commissions place utmost importance on protecting and policing the integrity of the sport. In any gambling game, having lady luck on your side is always better. But when it comes to handicapping, brains and intellect win out much more often than luck.

Handicapping is the art and science of picking winners. You can do it several ways, though I prefer to stay away from using hat pins, coins, darts, and rabbit feet to pick my horses. Most have studied the races the night before, marking their notes in the newspaper. Instead, I go through and eliminate the losers. The losers are those horses I think are too slow or overmatched to win that day.

Getting the losers out of the way creates a smaller pool from which to pick winners, making your job a lot easier. Each label is self-explanatory. Speedballs prefer to take the early lead. Pace horses stalk the early pace. Their past performances show more 3s and 4s, indicating their running position. I like to look for the race shape, which is how I project the race will be run.

For example, if multiple speedball horses are racing, the early pace will be fast, and a speed duel will hurt their chances of winning. Conversely, if only one speed horse is racing, I call this the best bet in horse racing — lone speed. I take into account the overall class of each horse. The classier horses win races when facing lesser rivals.

For example, cheap claiming horses exhibit less class than allowance or stakes horses. I cover the class and classification of horse races in Chapter 2. Winning a horse race is never a one man show. See Chapters 7 and 8 for more. Publications like the Daily Racing Form and the racetrack program print statistics that are paramount to your handicapping.

Both publish statistics on the jockeys and trainers. Equipment changes are also duly noted, such as whether the horse has blinkers on or off, is using Lasix medication, is wearing front bandages, and so on. At minimum, the change is a signal that the trainer is trying something different to win a race. Chapter 10 is all about equipment changes. In addition, the program and Daily Racing Form list the track condition such as fast, good, muddy, and sloppy for the main track and firm, good, soft, and yielding for the turf course from race to race so you can see whether a horse runs its best effort on a certain type of dirt or turf surface.

See Chapter 9 for more on track surfaces and conditions. Parimutuel wagering is the accepted betting system in the United States. The French invented it, and the word parimutuel means betting amongst ourselves. In parimutuel wagering, the money wagered goes into a common pool. After deductions are taken out to cover racing expenses and taxes to the state, the remaining money gets paid out to the winners.

The win odds on each horse, which reflect the probable win payoff, are determined by the betting public. The more money bet on a horse, the lower its odds. Horses called long shots have higher odds because very little money has been bet on them to win. A tote board on the infield and displayed on television monitors all around the racetrack relays the odds and potential payoffs for parimutuel wagers.

In horse racing, betting overlays is the key to success. Overlays are horses going off at odds higher than their real chances of winning the race. For example, professional horseplayers put their own morning line on each race to determine overlays. A simple way to find overlays is to trust the oddsmaker at major racetracks. Then bet on horses that are going off at odds much higher than their morning line.

Although you can make all kinds of wagers, newcomers should focus on straight bets, meaning to win, place, and show. You collect on a win bet when your horse finishes first, on a place bet if it runs first or second, and on a show bet when your horse ends up first, second, or third. The concept is a simple one to grasp. Bet one horse to do one good thing for you to win money. In betting, you can use multiple horses, giving yourself a chance to cash a sizeable ticket and still keeping your investment small.

Exotic wagers see Chapter 15 give you a chance to win a sizeable amount of money with a small investment. With a small bankroll, the main exotic plays are the quinella, exacta, and daily double. The last two plays produce high rewards but are also very high risk wagers. But because you beat both race favorites, the daily double payoff is overlaid. The ultimate wager in going for the score is the pick 6. My recommendation is to bet the pick 4. That price is much more affordable than the pick 6.

Beat a couple race favorites in the pick 4, and you could take home a nice windfall for the night. Planning your wagers and managing your bankroll with discipline are vital contributors to winning at the horse races — so much so that Chapter 13 no pun intended is devoted to that topic. No ATM withdrawals allowed! If you tap out, no chasing good money after bad. I like to plan my overall day of gambling so I have some idea how many races interest me.

For example, if I really like three horses to win, I must discipline myself to use a percentage of my bankroll on those three horses and races first. I still have enough flexibility to make a small unplanned action bet or two. If I win one of three, I have a chance to break even. If I win two of three, I make money for the day. If I win all three prime bets, consider it a lady luck afternoon.

I also have flexibility if any of my action bets win. This is just one example. I want you to understand the principle that some of the profits should be reinvested into your prime plays, which are your strongest plays, and not just frittered away on unplanned action bets. Chasing your losses can turn a bad betting day into a horrendous day. For the longest time, the racetrack was the only place to go for betting on the horses. Sign up to punters and receive a free copy of the punters bible Sign up.

Improve your betting reading these. Pages Recent. If however, you can see past his obvious flaws, Fooled by Randomness — The Hidden Role of Chance in Life and in the Markets brilliantly exposes how routinely we suffer from probability blindness, and how this misunderstanding of statistical significance manifests. His point of focus is the finance industry, but you can simply substitute bettors for city traders and start to understand how easy it is to confuse luck with skill.

A quick route to the poorhouse. Taleb uses probability theory, basic statistics and behavioural biases — along with a fair amount of condescension - to ram home his message. Taleb speaks from experience. His profile benefited hugely given his prescient warnings and substantial personal financial gain from — to use one of his own terms — having skin in the game.

Taleb continually asserts the dangers of listening to self-appointed experts and extols the virtues of producing your own objective analysis. Amen to that. Thinking, Fast and Slow Daniel Kahneman The second of our recommended books has even less specific reference to betting than the first, yet its relevance to bettors is enormous. One of the biggest challenges a bettor faces, apart from trying to beat the bookmaker, is trying to control, and counter-balance their own innate reflex toward irrationality.

Think Fast, Think Slow is written by the grand-daddy of behavioural science — Daniel Kahneman — who condenses a career of ground-breaking study into digestible chunks that every bettor should associate with. Kahneman was the first non-economist to win the Nobel Prize in Economics, back in in recognition of his work in partnership with the late Amos Tversky on prospect theory. It describes how people differentiate probabilistic choices that involve risk, but where the probabilities of the outcomes are known.

That should resonate with any regular bettor. The theory showed that people make decisions based on the potential value of losses and gains rather than the final outcome, and that people evaluate these losses and gains using certain heuristics — rules of thumb. In essence bettors are going through this process every time they make a bet, so knowledge of heuristics and how they work is critical, and Thinking, Fast and Slow provides a great introduction. It is packed with little puzzles and logic questions that you can challenge your friends with and will genuinely open your mind to a different appreciation of how to make better decisions under conditions of uncertainty, something every bettor should be interested in.

Nate Silver is considered by many as the poster-boy for prediction markets. He shot to fame after his success in predicting the results of every single state in the US Presidential Election, but his background and passion was in baseball analytics. In the Signal and the Noise he provides an engaging primer on probability, risk and why despite mountains of data in many areas — earthquakes, volcanoes, finance — predictive abilities remain limited and largely unsuccessful.

Plenty of conceptual lessons to be learned. Along with detailing those sciences where the record for accurate prediction remains poor, Silver highlights those that are getting things right, such as weathermen, and provides his take on their secret sauce. It's always interesting and encouraging for bettors to read about those that make a successful living from punting.

For anyone looking for a first insight into old Tommy Bayes other than our own article on the method that chapter is a great place to start, but this book is worth reading for more than a stats primer. View older comments 30 of Join the conversation. Live Blog see all.

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If you want to get into the head of a British professional horse bettor, this is the book to read. Geoff Hutson is an Australian anthropologist and horse racing enthusiast. He spent 20 months studying the pre-race behaviour of horses to see if he could pick winners and losers from their paddock behaviour. This book describes what he saw and why, once he finished his study, he threw away the form book and started betting on horses' behaviour instead.

The best book I've ever read about horse behaviour and how to profit from it at the races. This is the only book I've read that goes into depth about how the physique of a horse relates to its running requirements. Nick explains the difference in appearance between a stayer, a sprinter and everything in between.

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Take your time, and ingest everything that it has to offer. This book is intended for the more disciplined bettor and a staple for a sports betting enthusiast. Do not bother with this book if you are not an avid bettor, here you will get into the nitty-gritty of the subject. Joseph Buchdal covers the concepts needed to build your sports betting foundation. This book also gives insight on prediction and how to go about it, so be sure to check it out!

Beth Raymer wrote this book after spending 4 consecutive years as pay and collect agent for a bookie. This book is considered more of a memoir and through it, you will get a clear insight into the sports betting world which may come across to some people more like an abyss. If you are looking for a book dedicated to the more darker side of the sports betting industry than this book is just for you.

An interesting note, this book is the only book on this list that was later made into a film. Wayne L. Winston is a business professor by trade. He is an MIT — educated operations research specialist who also happens to be the producer of one of the most unparalleled sports betting texts yet to be written.

As the title of the book suggests, the author applies mathematics into the betting game in order to increase your chances of winning. He reviews various sports such as baseball, basketball, football to explain maths concepts.

The author also moves on to debunk various long-standing sports betting beliefs and the truth to debunk them all. This books goes over and beyond betting. This book is a recommended tool in your sports betting education. This text is a smooth transition into concepts relating to probability and risk. He explains why it is so challenging to predict the outcomes of our bets. This should also be your go-to book for a thorough education about predictions in sports betting. Amongst bettors and bookmakers, this book is regarded as a classic.

This is unarguably a must-read for any bettor who is honestly willing to invest. This book is the sports betting bible, and upon reading it you will soon find out why. It is long, and for some that may be disheartening but give it a chance. If you are familiar with the basics then you can skim past the first few chapters and get into the heavier stuff.

This book covers everything there needs to be on sports betting. This book has changed the game and the way we view sports betting. This is due to the successful strategies in the industry when it comes to conquering risk. George Howard is a psychology professor and Elihu Feustel is a professional bettor and gambler hence you can expect that you are getting a detailed book written both from a psychological perspective and having them backed up by someone who is actually making a profit in betting.

This book might not be the best choice for beginners so we suggest starting with a different book if you are just starting out. Know your potential profits when you make a wager with this betting odds calculator. American odds are presented as either positive or negative odds. As previously stated, understanding and calculating the implied probability in betting odds is key to long-term betting success at, for instance, Pointsbet Sportsbook.

What is the implied probability of these odds? So the implied probability of the Lakers winning the game is 0. In this instance, the bookmakers believe the Lakers are a Calculating the implied probability in negative American odds is fairly straightforward:. So in our example, the Bulls are at odds of to win the game.

So the implied probability of the Bulls winning the game is 0. In this case, the bookmakers see the Bulls as a As stated earlier, the key to successful betting is to bet only when there is value. In our example, we should only bet on either the Bulls or the Lakers if we determine that they are a better chance to win the game than what the odds represent. If we believe the Lakers are a better chance to win than If we believe the Bulls are a better chance to win than Understanding betting odds is crucial to long-term betting success.

Possessing an intimate grasp of betting odds and their implied probabilities is fundamental to profitable betting. Many states allow for online horse racing betting and you can see odds at most of the big horse racing tracks around the world. Betting odds represent the probability of an outcome occurring and the return profit you will receive if your bet is a winner.

It could be the likelihood of all of your final four betting picks being correct. Understanding the implied probability is crucial. Because you should only bet when you believe the probability of an outcome occurring is higher than the implied probability. But if you would like to learn more about betting odds and alternative odds formats, try this odds converter.

The Giants are at odds of to cover the betting line of

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As the title of the book suggests, the author applies mathematics into the betting game in order to increase your chances of winning. He reviews various sports such as baseball, basketball, football to explain maths concepts. The author also moves on to debunk various long-standing sports betting beliefs and the truth to debunk them all.

This books goes over and beyond betting. This book is a recommended tool in your sports betting education. This text is a smooth transition into concepts relating to probability and risk. He explains why it is so challenging to predict the outcomes of our bets. This should also be your go-to book for a thorough education about predictions in sports betting. Amongst bettors and bookmakers, this book is regarded as a classic. This is unarguably a must-read for any bettor who is honestly willing to invest.

This book is the sports betting bible, and upon reading it you will soon find out why. It is long, and for some that may be disheartening but give it a chance. If you are familiar with the basics then you can skim past the first few chapters and get into the heavier stuff. This book covers everything there needs to be on sports betting. This book has changed the game and the way we view sports betting. This is due to the successful strategies in the industry when it comes to conquering risk.

George Howard is a psychology professor and Elihu Feustel is a professional bettor and gambler hence you can expect that you are getting a detailed book written both from a psychological perspective and having them backed up by someone who is actually making a profit in betting. This book might not be the best choice for beginners so we suggest starting with a different book if you are just starting out. Similar to our previous mention regarding mathematics, this book applies theory to increase profits in games and sports.

This book will reveal a lot about calculating statistics and probabilities of betting. The writer claims that readers will only need to know the basics of algebra to understand the book. Some of the topics covered in the book are counting, distributions, discrete mathematics, data analysis, averages, combinatorics, bonuses, probability and others.

Ronald J. Gould writes in a very easy and flowing manner so understanding the book should not that much of a challenge. The writer uses examples from real-life situations in sports. Grab a book and take a break, invest some time into research and you will reap the benefits quickly because you will start betting in a much smarter manner. BeGambleAware GameCare. We use a self-learning algorithm which predicts outcomes of football games with high accuracy.

It crunches tons of numbers in order to allow our users to maximise their ROI when betting. We supplement our algorithm with a team of betting experts who use their advanced knowledge to make sure that all the predictions, stats and news pieces we provide are on point.

This information applies for each race and is a valuable element of a guide to identifying the horse that can Win, Place or Show. Horses walk around the paddock before a race. You can pick up some clues about the mood of each horse which are identified by the silks and race card number. The silks are registered by the owner and some owners have favorite tracks. Jockey and trainer statistics are also useful when you are following guidelines for how to read a racing program.

The distribution of the prize money is shown for each race and this gives an indication of the level. The purse defines the quality of a race. The objective of online horse betting is to pinpoint the runners with the best chance of winning or making the payout places. The historical records will not feature an analysis of how each horsed performed in previous races. The information is generic and will include overall records in each type of race, by conditions and distance.

Even though this information will not compare relative form, it is still worth examining as part of a horse racing program. This part of a race guide provides a good indication of the ability of a horse and the suitability to a specific race. The next section examines how a horse has performed in specific races.

The life records for each horse are relevant but there is much more value in the records in each race. The following information is available by race and can be used when comparing the form of each horse in a race:. A good horse racing program will highlight the key elements of the form guide for a specific race. The type of race, restrictions, conditions and course are the most important pieces of information. Past performances are a useful guide but other factors may influence the outcome of a race.

However, you should have a good idea of how a horse will race from previous form. Space is at a premium when creating a useful racing guide. Horse racing terminology can be confusing. There is potentially a vast amount of information for each track, race and horse. Online racing programs can be more creative than offline publications. However, both types of horse racing program uses symbols and abbreviations in the following areas:. Readers should look at a track dictionary to become familiar with the range of race type abbreviations.

However, here are the most common types of race:. The going report describes the underfoot conditions at a track. Horses are suited to different types of going and past records on similar track conditions are important when reading a horse racing program. The weather and amount of rain determine the track conditions. Knowing how each horse has performed on the prevailing going is a key element of race analysis.

The objective is to identify the horses with the best conditions and the going is important in this context. Both types of information provide a comprehensive guide to the nature of a track. Horses aged two can only race in restricted races for their age group. From the age of three, a horse is eligible for different types of race. At that point the following abbreviations become relevant:. Race-day medication and equipment are not major past form element s when comparing horses.

However, it is useful to compare form on and not on medication and with and without equipment. A horse could have shown improvement on medication and with equipment applied. A good horse racing program will help in the battle to beat the bookmakers with horse betting. There are many variables and factors when examining a race. Overall records, past form, track conditions and medication and equipment are part of the puzzle.

A horse racing program brings together each element and provides a guide to the best horse in each race. Online and offline versions perform the same function but in different formats. How to read a horse racing program includes the same elements across each type of media. Gambling Problem? Call Gambler.