The internet is full of tipsters claiming to show you how to bet on horse races and other sporting events. It is all too easy to give your money away whilst looking for that winning tip. Added to that are the sign-up incentives offered by online betting sites like Betonline, Beteagle and 5Dimes in the states, William Hill or Ladbrokes, etc in the UK, and the international sites like Betfair and Bet365. Knowing how to bet on horse races and make a regular profit is the dream of many working class people. The idea of being able to give up the job you hate and living off your winnings has led thousands of gamblers to bet irresponsibly with money they cannot afford to lose. If you want to learn how to bet on horse races and other sports and earn money like the professional gamblers do, sign-up to the FREE Betfan newsletter on this site and read up-to-date betting system reviews.

How To Bet on Horse Races - Rule 1 - Be Disciplined!

One of the key things to understand when you are considering how to bet on horse races and make money is the need for a disciplined approach. Although not an exact science, betting on horse races is a profession for some people and there are certainly many people making a good living from it. The one thing these consistent winners have in common is their professional, disciplined approach. If you follow your heart, pick horses because you like the name or the colors the jockeys wear you are of course doomed to failure! There are many good systems and courses which can teach you how to bet on horse races for profit but even if you have a winning system you need to discipline to apply it and stick to the rules. If a race doesn't qualify but you decide to have one more bet that day you are on the path to failure.

How To Bet on Horse Races - Rule 2 - Act Like An Accountant!

It's very important to be realistic about how much money you can make from horse racing. You must set aside a betting bank which is money specifically for your betting activity. It goes without saying this shouldn't be money you need for other things such as paying rent or household bills. It's perfectly possible to start with a small bank and build it gradually over time and this is by far the best way to betting success. If you have a $200 bank and expect to make $1000 a week you are not being realistic. Ideally you should bet a percentage of your bank (5% of your bank is advisable) on each race and this way your stakes stay relative to the size of the bank.

You must be organized in your betting activity and this is another key to success. Keep good records and know what's working and what isn't. Ideally you should maintain accounts with several bookmakers and you need to be organized in keeping account numbers and passwords in order. Bookmakers do not like it if you win too often or start to place larger bets and having several accounts allows you to spread your bets around.

How To Bet on Horse Races - Rule 3 - Don't Chase!

If there is one 'Golden Rule' when it comes to how to bet on horse races for profit it has be never to chase your losses. Even the professionals have losing days and losing weeks even. You must be prepared to accept that and keep your betting bank ready for the next time. The worst mistake you can make is to go for that final bet of the day for an increased stake to recover your losses. Instead, take a deep breath and tell yourself that tomorrow is another day.

Advantages of Betting Exchanges Over Traditional BookMakers

Betting exchanges have now been around for a good few years and they are firmly established and financially stable. But what are the advantages of betting exchanges over traditional bookmakers?

To understand the advantages of betting exchanges you have to look at exactly how they work. Some call what they offer 'matched betting' or 'peer to peer betting.' When you use a betting exchange you are betting against another user of the exchange. The exchange takes a commission for offering the means to match the bet. If you win, you are winning money from the person who has an opposing view of the outcome of the event and not from the exchange. Now I've explained how they work let's look at the advantages of betting exchanges.

Betting exchanges do not place limits on how much you bet. If there is enough money available from other users taking an opposing view you can bet that full amount. Some traditional bookmakers will limit your stakes which can be very frustrating.

Betting exchanges offer better odds than traditional bookmakers. This is a huge advantage and can make the difference between making a profit and making a loss. For example, let's say a bookmaker is offering odds of 8-1 on a horse. On the betting exchanges you might be able to get odds of 9-1 or even 10-1 for the same bet. You can ask for the odds you want on a betting exchange. In the example above, if the horse is only at odds of 8-1 on an exchange you can request odds of 9-1 and wait for the bet to be matched. With a traditional betting service you must take the odds on offer and there is no 'negotiation.'

Betting exchanges offer a huge variety of bets. Consider the example of a football match. Not only can you bet on which team will win of lose and by what score you can bet on hundreds of other factors. For example, you can bet on the player to score first, the number of corners in the game, the number of red cards which might be handed out. Of course the biggest advantage of a betting exchange is that you can act as the bookmaker and lay bets. You can bet on a horse to lose a race as well as betting it will win. This opens up the ability to trade on betting exchanges which is a great way to make money. Betting exchanges have opened up a whole new world of betting and give us the ability to profit from betting in hundreds of new ways.