An effective horse race betting strategy is what separates you from unsuccessful bettors. A strategy you can rely on will increase your chance of profiting and acquiring a higher return. So, if you plan to bet for this year’s Kentucky Derby, you might want to start choosing a strategy that fits you.
Here are five horse race betting strategies we recommend to use in the upcoming Kentucky Derby on May 6 and earn from your wagers.
Use Online Betting
The first strategy that is proven to be highly effective is betting online. Betting online isn’t just a betting option; it is also a great strategy. Online betting sites offer better racing odds than most land-based sportsbooks.
Aside from offering better odds, online betting sites also give out bonuses to their users, especially during registration. You can use these bonuses to bet on any horse racing event on that platform, which includes the Kentucky Derby.
For instance, if you sign up for a Fandule account, you can use the signup bonus to bet on any FanDuel’s Kentucky derby contenders you like. This is an excellent opportunity to increase your betting amount without spending additional money out of your pocket.
As a result, you can get a higher payout if you win your bet. Moreover, betting online offers safety and convenience. You wouldn’t need to leave your home and carry huge amounts of money just to bet for your favorite Kentucky Derby horse.
The Dutch Betting System
The next betting strategy we highly recommend is the Dutch betting system or the dutching. The dutching system is a betting strategy where you back more than one result on the same race. By using this strategy, you can manage the risk of betting. No matter what happens, dutching allows you to profit the same amount without risking too much.
If you want complete control over your bets, you must use the dutching strategy. You won’t be betting in fear of losing a lot of money. Instead, you will be able to enjoy the race without worrying about the outcome of your bet.
However, the Dutch system can be complicated. We highly recommend that you start researching the right way of using this strategy since you still have a few weeks before the big event. But if you think that the dutching system is not suitable for you, you still have other options, which we will also discuss later.
Beaten Favourite Strategy
This strategy is considered a counterintuitive approach. This approach needs you to bet on the beaten favorite. The beaten favorite is the horse that recently lost a race after a series of wins. You treat the loss as a slight irregularity and expect the horse to win again.
This irregularity will also help push the market odds making the horse’s win higher in his next race. If any favorite contender of the Kentucky Derby shows this kind of irregularity, you might want to consider betting on that horse.
The beaten favorite strategy is also referred to as the comeback strategy. However, before putting your money on the beaten favorite, you should investigate first. Figure out what went wrong in the last race where the horse lost. It will give you a better picture of the horse’s probability of winning the Kentucky Derby.
The Yankee System
If you are an experienced bettor looking for a new betting strategy for the upcoming Kentucky Derby, you might want to consider the Yankee System. The Yankee system is called the “grandfather of all betting strategies” due to how long it existed.
This strategy is a little complicated, which beginner bettors find challenging to follow. Using this strategy, you must pick four horses in multiple races. Two out of the four horses you choose must win or place within the top three for you to succeed in this strategy.
That said, choosing between using an each-way or a win Yankee will determine this. If you’re already familiar with this betting strategy, using this on May 6 can be straightforward. Otherwise, it’s best to study this system before using it.
80/20 Betting Strategy
The last strategy you might want to consider is the 80/20 system. There are no guarantees in horse racing. For instance, the favorite horse to win or those who came close to winning the race could end up not finishing first. That’s why you need a strategy to maximize your profit from these horses.
The 80/20 system is a betting strategy where you will be leaning more towards the place side of the wager than on the win. In this strategy, you will place 80% of your wager on the place and only 20% on the win.
It means that, for instance, if you wager $10, $8 will go to the place, and $2 will go to the win. If you use this strategy regularly, you will see the difference it makes to your loss and profit sheet. The 80/20 is also an easy strategy to learn, making it suitable for newbie bettors looking for the ideal strategy they can use on the Kentucky Derby.
Final Thoughts
There are many possible strategies that you can use in betting for the 2023 Kentucky Derby. However, when choosing a strategy, you must ensure that you are familiar and comfortable with it. You can research each mentioned strategy and see which is the ideal one for you.