The added thrill of watching live horse races and the potential for substantial financial gains have made horse betting a popular form of entertainment and gambling in Southeast Asia. The winning potential, availability of vast information, and the ability to make wagers online have garnered the interest of gamblers over the years.
However, like any other phenomenon that becomes widespread, there are numerous misconceptions that surround the horse betting industry. Horse racing myths are considered risk factors in horse betting as they can cloud one’s judgment, resulting in poor betting decision-making skills.
Recognising false beliefs to correct unhelpful thinking patterns early on and improve future gambling plays is crucial. Here are some of the typical horse betting misconceptions you should know:
Events are Rigged
Among the biggest SG horse betting misconceptions is that many punters and fans still believe the races are rigged. One reason for this is many thinks there are corrupt individuals who have tried several methods to fix horse races. For example, they would bribe jockeys and trainers to keep horses from performing their best, while others use illegal performance-enhancing drugs.
However, horse racing events are highly regulated with strict rules which jockeys and breeders must follow. Furthermore, bookmakers quickly change their strategy based on the public’s actions. Anti-cheating measures, such as pre-race drug testing, are also conducted to guarantee every race is a level playing field.
Always Place Bets on Favourites
Wagering on your favourites can be the easy route, especially if you are a beginner. Rookie bettors have the tendency to think that the favoured horse will almost surely win. Yet, this is not always the case. Ultimately, odds can make a horse the favourite simply because it draws the most wagers for a particular race.
There were many instances where the underdogs defeated the favourites by a wide margin. Hence, when placing your bets on horse racing in Singapore, you should consider several things, including the horses’ age, the time since their last race, and how they perform on specific tracks.
All About Luck
This is one of the most evident horse betting myths still believed today. While it is not harmful to lean on luck per se, it is not advisable to rely on it solely. If you want to profit from horse betting long-term, keep in mind the horses’ winning patterns and performance trends.
Professional and seasoned gamblers know how to analyse patterns and understand how to examine a horse’s overall performance. Similar to other casino games and sports betting markets, your betting success or failure rate is contingent on your skills.
Horses with a White Foot
This misconception is exclusive to horse racing. A collective belief among horse racing bettors is that a horse with one white foot is a good omen, while those with four white feet are considered bad luck.
There is no logical reason behind this superstition. In fact, California Chrome, one of the most famous racehorses in history, won the Kentucky Derby and Preakness Stakes in 2014, which are two of the three events needed for a Triple Crown trophy.
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Separating fact from fiction is crucial because it helps make more informed decisions. Thus, learning these horse racing misconceptions is essential to prevent confusion, allowing gamblers to truly make the most out of their horse betting experience.
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