In horse racing, a “good bet” isn’t always the one that wins — it’s the one that offers better value than the risk you’re taking. Whether you’re a beginner or a seasoned handicapper, understanding how to identify strong bets is essential for long-term success, both online at MyWinners and at Winners retail venues.
A Good Bet Has Positive Expected Value
A Good Bet Has Positive Expected Value
The core of smart wagering is expected value (EV). A good bet is one where the potential payout exceeds the probability of the horse winning.
Example:
If you think a horse has a 25% chance of winning (implied odds of 3/1), but the tote board shows 8/1, you’re getting more value than the market suggests. That’s a good bet — even if it doesn’t win this time.
Overlays vs. Underlays
Overlays vs. Underlays
Overlays = horses offering more value than their odds suggest.
Underlays = overbet horses offering less return than they're worth.
Successful bettors look for overlays and avoid favorites when they’re underlays, even if they seem “safe.”
Betting with a Plan
Betting with a Plan
Even the best bet can turn bad without a plan. A good wager should fit your strategy — whether that’s taking calculated risks with exotics or grinding out profit with straight bets.
Key considerations:
Bankroll size
Wager type and cost
Race conditions and field size
Your own confidence in the pick
Timing Can Make It Better
Timing Can Make It Better
In pari-mutuel betting, odds change up until post time. A good bet early in the pool can become a bad one if late money floods in and kills the value. Check the tote board and bet accordingly.
💡 Did You Know? In horse racing, you’re not betting against the house — you’re betting against the crowd. That means your edge comes from better insight or smarter timing.
Frequently Asked Questions
What does it mean to get value in horse racing betting?
What does it mean to get value in horse racing betting?
Value means the odds you’re getting offer a bigger reward than the true risk. A good bet has more payout potential than the horse’s actual winning chance.
Can a losing horse bet still be considered a good bet?
Can a losing horse bet still be considered a good bet?
Yes. If the value was there and your read on the race was sound, that’s part of the process. Even pro bettors lose most of the time — it’s about long-term edge.
How can I find overlays in horse racing?
How can I find overlays in horse racing?
Compare the tote board odds to your own assessment of a horse’s chances. Look for horses being overlooked by the public.
Are favorites always a bad bet in horse racing?
Are favorites always a bad bet in horse racing?
No, but they’re often overbet, turning them into underlays. Only bet favorites when you believe the odds still offer value.
Does timing my horse racing bets matter?
Does timing my horse racing bets matter?
Yes. Odds shift in the final moments before post time. Placing bets too early or too late can turn a smart bet into poor value if the odds drop too far.