When we think about gambling, the first thought that comes to most people’s mind is that the whole thing is a sucker’s proposition. Almost every gambling game out there is set in a way where you are 100% guaranteed to lose in the long run.
So, a very clear conclusion is that there is no money to be made in gambling. You can do it for fun, but expect to pay a handsome premium for that entertainment.
There are, however, outliers. Poker is one of the best examples of a game where skills and knowledge give players an edge over their competition. In the long run, the best players come out ahead, but poker also isn’t a traditional gambling game. You aren’t playing against the house, so you don’t have to beat the house edge.
Beyond this, there is card counting in blackjack, but that’s becoming increasingly hard to do, with casinos becoming better and better at recognizing card counters and backing them off before they can make any real damage.
There is still one area of gambling where skills can help players prevail, and that’s sports betting. Much like in poker, a proficient bettor (often referred to as a “sharp”) will keep track of stats and historical information to make the best decisions.
Sports bettors have many options available to them, but one sector that seems to feature the largest number of sharps is horse racing. While most punters still continue to lose money and base their decisions on a “gut feeling,” there is a group of people out there who make consistent money betting on ponies.
Skillful Horse Race Betting: Is It a Myth?
When it comes to gambling, some people remain forever skeptic about anyone’s ability to make money from it. Even today, despite vast amounts of reliable information, many persist in their conviction that luck is the main factor in poker.
Those pros who have been crushing it for years, making millions in the process, know better, but at the end of the day, it is in their best interest for people to keep believing it’s all about luck. That conviction keeps fresh blood coming into the game.
But what about sports betting, and more specifically, horse race wagering?
Every time you go to place a bet, you’re going up against a betting company with large resources and a bunch of people working behind the scenes to create lines in such a way where it’s nearly impossible to win. After all, that’s what the entire business model is based on.
Most of them are happy to lure in new punters with a nice horse racing sing up bonus and treat their loyal bettors to some free bets. However, all of this is carefully calculated into business expenses.
But, even with all that, some people have found ways to make money out of betting on horses, staying ahead of the bookies. Unlike the rest, these people spend time studying races, runners, and jockeys. They look at numbers, search for patterns, and aren’t afraid to go against the market if their numbers back it up.
To dispel any illusions, this isn’t an easy way to make big bucks. You don’t just become a horse betting sharp overnight, much like you can’t become a great poker player after watching three poker strategy videos.
However, for those willing to put in the hours and not afraid to take some risks – because taking risks is inherent to any type of gambling – possibilities are there. And, just like with poker, most of those who try, fail at it, but some make it.
You do have to be passionate about it, yet able to keep a cool head when things don’t go your way. Sharps stay patient as they don’t feel the need to immediately recoup their losses. They’ll accept it as a part of the game and wait for the next +EV opportunity.
Obstacles to Be Aware Of
When you are a great poker player, you are allowed to make as much money as you can. Whether you play live or online, a poker room doesn’t care. It’s not their money that you’re taking.
Bookies, on the other hand, really dislike consistent winners. Even if they make up a super small percentage of the entire betting pool, bookmakers will actively ban and restrict anyone who they recognize as a sharp.
This makes it much harder for the winners, as they need to constantly find new places that will accept their bets. Alternatively, they can use exchanges, but the quality of these places varies, and there are often hefty fees in place for those who consistently make good decisions.
So, if you’re considering taking up gambling seriously and looking for ways to make money out of it, poker is still the best choice by far.
There is money to be made betting horses, but you’ll have to learn a lot and overcome many obstacles, one of them being lack of reliable information.
Unlike poker, where you can easily access a host of training videos and other quality resources, you won’t find much to guide you on your journey to becoming a winning horse bettor. Sharps tend to keep their secrets close to the vest, and for a good reason.
It’s up to you to make that call, but be aware that there is no easy money waiting for you. Like in most things in life where skill is involved, those working the hardest get rewarded.
