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More and more bettors have gotten into Singapore horse racing live. Horse race betting has been one of the most popular gambling activities in the country. It continues to be an enjoyable pastime for Singaporeans.
When betting on horse racing, it can be easy to fall victim to unreliable strategies. This is why it is important to know the do’s and don’ts of the hobby before playing. With many emerging horse racing betting strategies, knowing which ones offer actual benefits can be confusing.
Consider this list of horse race betting systems you should avoid to protect yourself from significant losses:
Martingale System
The Martingale system is a type of negative progression betting strategy. It is based on the principle that doubling your bets every time you lose will help you regain what you lost and profit when you finally win.
Martingale originated as a roulette and coin-flipping tactic, as losing many 50:50 odds in a row is perceived unlikely. The strategy was adopted in different forms of gambling, like horse race betting.
However, the Martingale system is not reliable for achieving long-term success. It assumes that you have an unlimited bankroll, which most bettors do not have. If you keep doubling your bets each time you lose, eventually, you will reach a point where you cannot afford to wager.
The Martingale system is an extremely risky betting strategy, and it should be avoided for numerous reasons, including:
- Placing too much of your bankroll on a single bet,
- Growing bet size will limit your actions,
- Losing streaks are inevitable even in bets with 50:50 chances, and
Does not guarantee a win.
Labouchere
The Labouchere, also known as the cancellation or split martingale system, is another type of negative progression betting strategy. It involves creating a sequence of numbers and adjusting your bets according to them.
To do the Labouchere strategy, you must determine your desired profit goal. Then, create a sequence of numbers that adds up to that amount. Your initial bet amount will be the first and last numbers on the sequence.
Every time you win, you cross out the first and last numbers from the sequence and adapt the sum of the new extremes as your next betting amount. When you lose, you put your current betting amount to the end of the sequence and add it to the first number to determine your next wager amount.
On paper, the Labouchere betting system seems reliable for uncovering losses and ensuring profit within the next win. However, it is regarded as not a great betting system because of the following reasons:
- Complex and difficult to understand,
- Lacks long-term profitability,
- Requires a large bankroll,
- High-risk, and
Does not allow flexibility for unique circumstances.
Always Betting on the Favourite
Statistically, always betting on the favourite is not the best betting strategy. Favourites only have a win percentage of 33.44% which means you would lose a third of your overall bets.
Although betting on the favourites offers a higher win percentage than most, it is not a guaranteed win. Exploring other bets like a lay bet and finding information about the race that may support them would be more beneficial.
Besides being statistically inefficient, always betting on the favourite has multiple disadvantages, such as:
- Favourites have a lower potential payout,
- A favourite’s odds can be overvalued as it is influenced by public opinion, and
Upsets happen more frequently than you think.
Conclusion
Horse race betting systems can offer excellent guidance on approaching each wager. However, it is important to carefully research the betting strategies you want to apply, as they may not be beneficial in the long run. Win big in Singapore horse racing live odds by sticking to the basics of horse race betting and applying the best practices to create more long-term opportunities for profit.
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