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Wednesday 16 October 2019

Should You Bet On More Than One Horse In A Race?

It's an interesting question.

Betting on a single horse in a race or an each-way wager can be a tricky business. The number of variants becomes complex and opinions varied. It's funny how punters either love or hate betting each way. So what are we to make of betting on more than one horse in a race? 

I can only speak from my perspective of betting on two-year-old races and even with over 30-years experience it is a topic of conversation which tumbles about my mind. 

Should I or shouldn't I?

I bet the other day and backed two horses in one race. To be fair, thinking about the result, I am a touch annoyed with myself although, as so often, there were mitigating circumstances. 

I can't go into details about the reasoning for the bet but it did bring about a few moments of thought, assessment, and consideration.  

Betting on more than one horse is the same as cutting the odds of the winner in half. Whether this is a good bet, again, depends on the point of winning or losing money. Because I bet on the exchanges, I often lay my bets in running at shorter odds (so another variant on a complex topic). So betting on two horses in  given race doesn't mean I cannot win on both. This wouldn't be the case betting with traditional bookmakers.  

The answer to whether betting on more than one horse in a race is a good idea depends on profit or loss. If you are in profit, then, unsurprisingly, you are making the right decisions. Betting on more than one horse isn't anything new. When you think about it, it's very much like a traditional bookmaker who lays potentially all horses to lose. 

Whether you bet on one, two, three or every horse in a race (if you have the odds in your favour) there needs to be continued assessment. Betting is always about learning what makes a profit. It is trial and error. It is the best way to learn.

For most gamblers, the option of betting on more than one horse isn't taken. I would put this down to the level of gambling success and whether it is taken as a professional endeavor. 

Have you ever bet on more than one horse in a race? What is your reasoning for this type of bet and are you in profit?