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I recently wrote an article here on how you can make some nice pocket money, or even earn a full-time living betting on horses or betting on greyhounds. I have reproduced the article below:

Many people out there are confused by betting on horses and betting on greyhounds. They are confused about how the odds are calculated for a horse or greyhound, and they don’t know how to pick a winner. In this article I will show you how a payout is calculated and I will also give you some pointers on how to make money betting on horses and betting on greyhounds.

As a way of explaining how odds are calculated, let’s assume that $10000 is bet to win on all horses or greyhounds in a particular race. The particular betting shop will take a certain percentage of the top to keep themselves in business. The percentage taken off the top varies between organisations. Lets assume that in this example it is 10% or $1000. That means there is $9000 left in the pool. Lets say horse number 1 wins. The winning pool is divided amongst all those who bet on horse 1. If 1000 people bet on this horse the payout would be $9.

There is no such thing as a “sure thing” in gambling but below is outlined my five tips for making money betting on horses or betting on greyhounds:

5. Learn How to Read the Form Guide: To many people, the form guide can seem like a foreign language, but it has some very important information on a horse or greyhound’s recent form, career form, and how it has previously raced at the track it is about to run on.

4. Follow Current Form: Current Form is generally a good guide about how a horse is going, but take note of blocked runs and other mishaps that could have marred previous races.

3. Look at overall Percentage Placed ratio: if a horse has won or placed in more that 50% of its races in similar fields.

2. Don’t Chase the Big Money: There is no point betting on an outsider if it has no chance of winning. Making small wins on more short price horses makes more sense than continuously throwing away money in the hope that one day you might get your long-odds winner.

1. Bet For A Place: The odds might not be as high, but there are more chances for a payout.

In this article, you have learned how to understand the odds and been given some tips on betting on horses or betting on greyhounds. Now all you need to do is put these tips into action and hopefully you can see some winning results.

If you are after a horse racing betting system, check out my article here.