The Derby, a hallmark of American sports since 1875, isn’t just about mint juleps and fancy hats. It’s also a high-stakes betting event where fortunes can be won or lost on a horse’s nose. Betting, indeed, is the lifeblood of horse racing, adding an extra layer of excitement and strategy to the spectacle.
You might already know some of the most common betting tactics used across various races. However, if you want to wager on those dark horses with high odds but potentially massive payoffs, we will equip you with the insights you need to win big!
A Closer Look at Longshot Betting
In horse racing, a long shot is a horse that has high odds due to its perceived low chances of winning. This underdog status, however, can lead to big returns if the horse does cross the finish line first.
Now, let’s take a step back in time. The Kentucky Derby has seen its fair share of surprising longshot winners. Who could forget Donerail in 1913, who won at odds of 91-1, or Mine That Bird in 2009, defying the 50-1 odds? These horses, initially overlooked, ended up in the winner’s circle, and those who bet on them enjoyed hefty payoffs.
Now, when it comes to 2024 betting with TVG, among other legal betting platforms, you can engage in such thrilling wagering scenarios. Betting on longshots, though risky, comes with its perks. The potential for massive returns is one, but there’s also the thrill of rooting for an underdog, the suspense of the race, and the satisfaction of a well-researched bet paying off. Plus, it keeps the betting market healthy and unpredictable, adding an extra layer of excitement to the race.
How to Identify Potential Longshots
Identifying potential long shots involves research, understanding, and intuition. Start with the history of horses and jockeys. Look at past performances, their compatibility, and any notable strengths or weaknesses.
Race conditions also play an undeniable role. Weather, track surface, and distance can all impact a horse’s performance. A muddy track may favor a horse known for its stamina, while a dry, fast track might benefit a speedster.
Pre-race workouts, often overlooked, can also reveal a horse’s current form. They can provide insights into a horse’s current form and readiness. Similarly, post positions can influence outcomes. Some horses perform better from specific starting gates.
You should also look out for underrated horses. These are often overlooked due to recent poor performances or a lack of familiarity among bettors. However, they may have hidden potential or favorable conditions, making them ideal longshot candidates.
Strategies for Betting on Longshots
Giving longshot betting a go can be both exciting and complicated. Here’s a simplified guide to help you navigate through it:
- Know When to Bet – Timing is crucial when considering longshot bets. Long-shot bets are most effective in large races with no clear favorite, making it harder for bettors to predict the outcome. Also, consider changing race conditions, such as weather or track surface changes. These factors can impact a favorite’s performance and give an underdog horse a surprising advantage.
- Budget Wisely – while potentially rewarding, long-range bets carry a higher risk. It’s important to manage your bankroll effectively to sustain your betting activity over time. Consider setting aside a small portion of your bankroll specifically for these high-risk wagers. This way, you ensure that you have sufficient funds left for more predictable races, maintaining a balance in your betting portfolio.
- Explore Exotic Bets – Exotic bets like exactas, trifectas, and superfectas involve wagering on the outcome of multiple horses in a single race. This increases your chances of a payoff because you’re not solely relying on a single horse to win. For instance, you could still gain a return if your longshot finishes second or third in an exacta or trifecta bet.
- Balance Your Bets – A balanced betting strategy combines longshot and safer bets. While long shots offer the potential for substantial returns, they are less likely to result in a win. Safer bets, although offering smaller returns, are more likely to yield a payout. By balancing these two types of bets, you can enjoy the thrill of chasing a big win while ensuring steady bankroll growth.
- Research and Understand Horse Racing Form – When betting on long shots, understanding each horse’s past performance is essential. This includes their performance on different tracks and conditions and against various competitors. By studying the form, you might find that a ‘longshot’ could have an unexpected advantage in the race. This can help you spot potential winners that others may overlook, giving you an edge in your betting strategy.
Takeaway
As we approach the 2024 Derby, do not be afraid to consider the underdogs. These horses, often overlooked, can sometimes defy the odds and emerge victorious. But remember, success in betting isn’t just about luck. Channel your passion for the sport into diligent research and enjoy the potential for significant returns!