To many the call of the horse track is a siren call that cannot, nor should it be, ignored. There are plenty of people that are content to just put their money down on whatever pony catches their eye and hope to win. While this has undoubtedly worked from time to time and can be chocked up to beginner's luck most of the time, it is not a viable winning strategy.
To put together a viable winning strategy a player should at least be aware of how horse racing betting odds are determined. At the track, or online, the odds are decided based on the amount that is bet on each horse. The more that a horse has bet on it the less that the horse will pay off is the horse wins. The more likely people are to bet on a horse indicate, to some degree, how likely that horse is to win.
Also in determining horse racing betting odds an elementary piece of information that is essential to know before betting is what the odds mean. If a horse is favored 3:1 for example, it means that if a player bets a ten dollar wager on that horse and they win the person wins thirty dollars. So for every dollar wagered the player gets three in return. This is obviously a very good bet to win and the more of a long shot the horse is considered to be the better the pay off. There are betting systems and handicapping systems that claim to be able to pick the winning horse from any race. While it's true that a winning horse in a weak field is fairly easy to come across and pick out it truly is the skilled person that knows how to play the horse racing betting odds and pick the long shot from the crowd and walk away with loads of cash.
Horse racing betting odds are very easy to calculate on races where there are a number of people making wagers. But if the people aren't making wagers yet, or if the race is a low one with very little action or attention horse racing betting odds can still be accurately determined. To do this the people that are in charge of making the horse racing betting odds use what's called a morning line. The morning line is designed to assist people making horse racing betting odds to place odds on the individual horses for the upcoming races without a large supply of betting information. To do this the people making the horse racing betting odds make informed estimations on what horses the betters will be betting on throughout the day. As the day progresses from the morning line information the horse racing betting odds are updated and the odds become more and more accurate as people that are informed as to the condition of the horse, etc' begin to handicap them and place their wagers.
It is important for a person that is interested in the exciting, fast paced sport of horse racing to pay attention to the subtle trends that occur in horse race betting odds. By paying just a little extra attention to the way that people are betting a player has a very real chance of scoring some serious cash if they are able to pick a winner from a four to one favorite as opposed to a three to one favorite. And the difference between a four to one favorite and a three to one favorite may be something so slight that it is almost imperceptible to a person that is not totally cognizant of what is occurring on the track and the tote board.
A person has to be able to read a tote board and be able to understand the forces behind the board to realize how horse racing betting odds are determined and how they are useful to the person making the bet. A person cannot be swayed by sensationalism and lose sight of the very real physical determinates of why a horse will win and why a particular horse is favored by the horse racing betting odds. There are, of course, times when the proverbial gut feeling or hunch is a good bet to make. That's the stuff that horse racing legends are made of, but they should never take the place of real homework and the ability to read the horse racing betting odds. It is a skill that will absolutely make or break the most ardent horse racing enthusiast.