Is Horse Racing A Lucrative Hobby: Dos and Don’ts

Horse racing is one of the wealthiest industries in sport, with the sector being worth billions across the world. Nothing captures the excitement and raises the adrenaline more so than correctly predicting the winner in one of the season’s most defining races.

Therefore, it is little surprise that those that adore the sport continue to follow the action on track despite enduring setbacks in their pursuit of a winner.

So, what are some of the dos and don’ts to ensure that horse racing remains a hobby that you are able to enjoy?

Do The Research Yourself

There are so many social media accounts around these days that pride themselves on being the best horse racing tipster out there.

However, for the most part, these accounts are defrauding their followers, and instead handing out tips that will shape a market in the way that they want.

If you want to be informed about competitions like Breeders Cup focus on the racebooks like TwinSpires who have been in the business for many decades.

The best way to enjoy the racing as a hobby and give yourself the best chance of gaining returns is by doing the research yourself. After all, the research is one of the most enjoyable aspects of breaking down a race, and not doing this will ensure that you’re going into a raceday blindly without much of an interest.

Doing the hard graft yourself will enable you to find potential angles of value in the market, and the reward will far exceed the experience that you can expect to get if you have followed a tipster blindly, after all, you would have done the work yourself and found the winner alone.

Follow The Action Throughout The Season

Horse racing is staged daily across the world, with little courses typically having no impact on the season-defining moments that could occur later in the season. However, only by watching the live action throughout the season will you be able to unearth a potential star that you can foresee going onto bigger and better things.

Prep races are common for big championship races such as the Kentucky Derby and Cheltenham Gold Cup, and these are the must-watch events for many with one eye on the future.

However, when it comes to pinpointing a horse that could be pointed toward a Cheltenham Festival race, you may have to watch undercard action at tracks such as Carlisle, Warwick, or Stratford. Watching more racing will only make you gain more knowledge about the sport, and that can never be a bad thing.

Ill-Advised Betting

Ill-advised betting is something that all bettors should avoid, no matter whether it is a selection on horse racing or any other sport.

You should make up your own mind about a potential result, and not look for online tipsters that will sway you in one direction or another. Making ill-advised selections can quickly guide you into a rut when it comes to gambling, and it can often be challenging to work yourself back from that situation.

As a general rule, you should avoid looking at unproven tipsters online. If you’re searching for a second opinion after making your selection, you should only trust industry experts that have a proven record of delivering results.

Exceeding What You Can Afford

The key to ensuring horse racing remains a hobby and not something that you are looking to avoid is making sure that you’re betting smartly with what you can afford. Setting yourself a set total to bet per week or month is key to maintaining a healthy bank roll balance, and this shouldn’t be exceeded under any circumstance.

Therefore, if you set yourself a budget of $100 for a weekend of racing at the track, once this has been spent, you shouldn’t add any more funds to your account.

Exceeding what you can afford to spend on betting can have hugely detrimental effects to your well-being, and at the worst case, it can leave you stressing in terms of finances when it comes to food and paying your mortgage. Being safe with your betting is key to ensuring that the sport remains a hobby that isn’t consuming you.

Attend The Racing

It goes without saying, but if horse racing is your hobby, then you should attend the racing in person as often as possible.

This can often be a challenge if you don’t have a local track, but you can always get together with a group of like-minded friends once a month to have the day out.

Not only will you be able to get up close and personal with some of the equine stars in the sport and get a better understanding of the care that they receive after racing, but it will also get you out in the fresh air for an afternoon, which can never be a bad thing. For racing fanatics, there is nothing better than getting into a course nice and early and soaking up the atmosphere.