3 Horse racing betting tips you can use on the 2022 Kentucky Derby

Three horse racing betting tips you can use on the 2022 Kentucky Derby

Horse racing is one of the most popular sports in the U.S and the sport itself has millions of fans; notably, most of them are bettors. If you're a horse racing fan or simply a fan of horse racing to make a profit, you know that there are a lot of horseracing events all year round.

One of the most famous horse racing events there is the Kentucky Derby. This home to rts event is home to some of the most prestigious names in the horse racing industry, from famous owners to horses.

Also, it's pretty popular among fans because it's the starting point of the Triple Crown tournament, which starts with the Kentucky Derby, the Preakness Stakes, and finally, the Belmont Stakes. With all that said, a lot of money will be going around these events, especially the Kentucky Derby. This event is essential because to become the champion in the Triple Crown tournament, a horse should win all three of the events, which makes the Kentucky Derby a significant ticket to winning the tournament itself.

If you want to join in on the fun and make yourself a pretty hefty profit in the Kentucky Derby, there are some tips you might be interested in hearing that might just land you big winnings. Here are some of them.

Manage Your Bankroll Accordingly

It's common for people just to set a tiny amount in their bankroll, hoping to make it big down the road by betting it all on a single race. Unfortunately, it often ends up being lost, and then the person will deposit again and again to chase the losses.

Overall, it's a pretty stupid thing to do. Instead, an intelligent bettor would allocate money that they are okay with losing and bet on races with only a tiny percentage of the bankroll. A common thing to do is bet only 5% of your bankroll on a single race. For example, if you have a bankroll containing $100, you would only bet $5 for each race.

For most people, when they are winning straight, they would increase the percentage of their bets. However, you can play around and remain in the 5% on a single race instead. It doesn't need to be just one horse, but you can spread it among other horses that you have a feeling with, like allocating 2.5% to two horses in a single race.

You can play around with your bankroll all you want, but remember that your goal is to increase your bankroll as much as possible, retaining only minor losses. Also, a rule that you should remember is that whenever you're nervous about allocating any amount of money on a single bet, you have bet too much money on it.

Back Multiple Runners

Speaking of spreading your bets on multiple horses, this strategy is a way for you to maximize your profits and minimize your losses.

Veterans usually bet on 2-4 horses on a single race, which involves backing most of your bets hard on a single runner and allocating the rest on safer bets. Let's have an example:

Horse #1: $36 / Return: $108
Horse #2: $7 / Return: $49
Horse #3: $7 / Return: $49

As you can see in the example, we have sacrificed potential winnings if horse number 1 wins. This is to ensure that if one of the other two horses won, we would get back our original bet with very minimal loss. This helps us sustain our bankroll longer by minimizing our losses while, at the same time, maximizing our profits without the risk of loss.

Of course, you can choose to bet all of your $50 on a single horse, but you should only do this when you're highly confident with the horse you're betting on.

Shop the Odds

Shopping the odds is a relatively simple way to further increase your payout. The best thing about it is that it's compatible with most sports betting forms, whether it be NFL betting or MLB betting. However, it only works on fixed odds, so pari-mutuel betting is out of the question. All you have to do when shopping the odds is to look for other horse racing websites that you can bet on, along with the in-location bookmaker.

If you decide which horse to bet on the top contenders for the 2022 kentucky derby, look for different odds online and see if you can find better ones. If you manage to find better ones, you can bet on those and make yourself a few dollars in your payout. Sure, it might only be a few dollars, but you would be surprised how much it can stack up in the future.

Final Words

The Kentucky Derby is fast approaching, and there's no better time to learn and use these tips in your favor when the event arrives. By following the tips discussed above, you will surely maintain your bankroll much more efficiently and land yourself a pretty hefty payout at the end.