Winning at horse racing isn’t just about picking winners — it’s about picking the right winners at the right price. That’s where value betting comes in. Instead of chasing favourites, value bettors hunt for horses whose odds are higher than their actual chance of winning. At MyWinners, understanding this principle can turn casual bets into sharp plays.
What is value betting in horse racing?
What is value betting in horse racing?
Value betting means placing a wager when the potential payout exceeds the horse’s true chance of winning. It’s the core principle behind all serious gambling — and it’s how professionals stay profitable, even if they lose more often than they win.
Let’s say you believe a horse has a 25% chance to win (or 3-to-1 fair odds), but the tote board shows 6-to-1. That’s a value bet — your edge comes from the public undervaluing that horse.
How to find value in the betting pools
How to find value in the betting pools
Create your own odds based on past performances, pace setup, surface preference, etc.
Compare them to the actual odds on the tote board at MyWinners.com.
If the public odds are longer than your estimate — you’ve got value.
Avoid horses that are overbet (shorter odds than their real chances).
💡 Top Tip Value doesn’t necessarily mean “longshot.” Even a 2-1 favourite can be value… if they should really be 4-5.
Why value betting works long-term
Why value betting works long-term
You don’t need a high win rate — just a good return when you’re right
It takes emotion out of betting — you’re playing percentages, not feelings
Over time, spotting overlays (horses priced too long) makes you profitable even with small bankrolls
It works across bet types — Win, Place, Exacta, even multi-leg sequences
💡 Did You Know? Legendary bettors like Bill Benter and Andrew Beyer built entire systems around value. For them, the horse didn’t matter — the price did.
Frequently Asked Questions
Can favourites still be value bets?
Can favourites still be value bets?
Yes — if their odds are better than their true chances. If a horse should be 4-5 and is offered at 2-1, that’s a sharp play.
Do I need a computer model to find value?
Do I need a computer model to find value?
No — just basic handicapping skills and a willingness to think independently. Trust your analysis more than the tote board.
Why do casual bettors miss value?
Why do casual bettors miss value?
They bet based on names, hype, or fear of losing — not statistical edges. The tote board reflects public emotion, not truth.
Is value betting legal and supported on MyWinners?
Is value betting legal and supported on MyWinners?
Absolutely. MyWinners.com uses the pari-mutuel system, which lets sharp bettors profit when the public misprices a horse.
Can value betting work with exotic wagers?
Can value betting work with exotic wagers?
Yes — even more so. Multi-leg bets (like Pick 4s) often hide overlays that are undervalued due to field size or bias.