Horse & Dog Can you rely on odds?

[maxspencer90]

A lot of players greatly rely on the odds that the animals running the race have been assigned. I believe that these odds have a lot of flexibility and at times, can be altered a few hours before the race opens. How can you ensure that the odds are a reliable way to formulate a strategy?

 

[Smokey]

The odds are constantly changing right up until the windows close and all the odds tell you is which horses are favored based on the bets placed. The more people bet on a specific horse, the less you'll win if that horse actually wins.

 

[zohan]

The more people bet on a specific horse, the less you'll win if that horse actually wins.

I never knew that this was the case. For this reason, is it better to bet on different horses based on their ability to finish the race in a good position?

 

[Tolly]

The odds aren't just about how good the horses are, they are about making sure the bookies who set the odds make a profit or don't lose too much. If lots of people bet on a horse, they will shorten the odds so they don't have to pay out as much. That's true whether the horse places or wins.

When you place a bet on a horse you can either place the bet at what the odds are at the time you place the bet, or go for Starting Price (the price when the race starts). If the horse is good, the odds on it will shorten nearer the race, so if you think the horse will do well, it is worth making sure your bet is locked at the odds that were set when you placed the bet.

 

[steve]

All professional gambling is odds vs payout.

In the context of horse racing and sports, its identifying value bets.

 

[Muay]

So I guess this means that looking at the odds alone isn't really a good way to determine where to place your bets. It's more like just following the herd.

 

[kenzow]

So I guess this means that looking at the odds alone isn't really a good way to determine where to place your bets. It's more like just following the herd.

Looking at the odds is a good starting point, not only in dog and/or horse racing but overall as well. There are many times when I have taken a risk and placed bets where chances of winning were least likely. You can imagine what the feeling can be like when you place a stake worth $100 when the odds are at 7.0. Yes, worth trying but you won't always win, you know.

 

[zephyr 12]

So I guess this means that looking at the odds alone isn't really a good way to determine where to place your bets. It's more like just following the herd.

Pretty much. You'll make more money on a long shot that few if any people are betting on. You never know, long shots have been known to win or place.

 

[Muay]

You're right about the fact that you'd make a lot of money on a long shot, but what are the odds of that happening on a consistent basis? I'm guessing nil - so I'd really rather rely on something else in addition to the odds.

 

[steve]

In any form of professional play, you need to think LONG-TERM, not just one bet.