Today we are going to cover the great sport of greyhound racing. Covering everything that you need to know betting on the sport and some key concepts, to can help you become a profitable greyhound bettor!
In this guide we will cover the following:
- Greyhound Betting Terminology
- Types of Greyhound Bets
- Fundamental Greyhound Betting Strategy
- Mistakes to Avoid When Betting Greyhounds
- The Easiest Betting Strategy To Profit From Greyhound Racing
Table of Contents
Understanding Greyhound Betting Terminology
Before diving into greyhound betting, it’s crucial to familiarize yourself with the basics of betting terminology. Understanding these terms will give you the confidence to make informed bets and maximise your chances of winning.
- Handicap –A system where dogs are given an equal chance of winning by providing advantages or disadvantages. This is done by having different starting traps.
- Trap – The starting box from which the greyhounds are released at the beginning of a race.
- Form – A greyhound’s recent performance history, indicating its current condition and potential.
- Odds – The likelihood of a greyhound winning, expressed in fractional or decimal format.
- Non-Runner – A greyhound that is withdrawn from a race before it begins.
Types of Greyhound Bets
Learning about different types of bets is fundamental for any beginner. Here’s an overview of the bets you can make on greyhound racing:
Win Bet
This is the simplest type of bet, where you bet on a greyhound to win the race. If your chosen greyhound finishes first, you win.
Place Bet
In a place bet, you are wagering that your selected greyhound will finish in one of the top positions, usually first or second. This type of bet generally offers lower payouts but has higher chances of winning compared to a win bet.
Each-Way Bet
An each-way bet is essentially two bets in one: a win bet and a place bet. If your greyhound wins, you collect on both parts of the bet. If it places, you only collect on the place part.
Forecast Bet
Here, you are predicting the first and second finishers in the correct order. The payout can be substantial, but the difficulty level is higher than a simple win or place bet.
Tricast Bet
Similar to a forecast bet, but in this case, you predict the top three finishers in the exact order. This type of bet is often very low percentage in terms of win probability. When done correctly however it can be a huge value bet and result in significant profit.
Fundamental Betting Strategies
Let’s take a look at some fundamental betting strategies you can use to try and gain an edge in greyhound betting. Then I will give you my number one recommended strategy, that is very simple to learn and extremely profitable over the long term.
Greyhound betting strategies to consider:
Study the Form
Spend time reviewing each greyhound’s form. Look at their recent performances, paying attention to their win ratios, times, and consistency. A well-researched form guide can give you a significant edge.
Understand the Track
Different tracks can favour different types of runners. Know the track conditions and distance, and identify greyhounds that perform well under those specific circumstances.
Manage Your Bankroll
Discipline is key. Set a betting budget and stick to it. Don’t chase losses, and ensure that each bet is a small percentage of your overall bankroll to avoid major drawdowns.
All sports bettors go through winning and losing periods, what often separates the long term winners is how they deal with losses.
Watch the Market
Greyhound betting markets often fluctuate based on inside information and expert insights. Keep an eye on the odds changes leading up to the race, as they can provide valuable clues about potential winners. The best greyhound betting strategy we have come across uses market movement to pinpoint value in greyhound races.
Spotting outliers in the greyhound market can a great way to profit from the market!
By understanding the terminology, types of bets available, and employing smart strategies, you will give yourself the best chance of becoming a successful greyhound bettor. Remember, that patience and continual learning are key factors in winning over the long term.
Advanced Greyhound Betting Strategies
To elevate your greyhound betting game, consider implementing more advanced strategies. These techniques require deeper analysis and a greater understanding of the sport.
Analyze Split Times
Split times refer to the times recorded at various intervals during a race. By analyzing a greyhound’s split times, you can gain insights into its speed at different stages, which helps predict its overall performance. Greyhounds with consistent and fast split times are often more reliable bets.
Consider Trainer and Kennel Form
Just as with the greyhounds themselves, the form of trainers and kennels can fluctuate. Trainers with a strong track record are likely to continue producing winning greyhounds. Similarly, kennels that perform well at certain tracks or during specific seasons can provide valuable betting insights.
Monitor Weather Conditions
Weather can significantly impact race outcomes. Rain can make tracks slippery, favouring greyhounds that can handle such conditions. On the other hand, warmer weather may benefit greyhounds that thrive in dry conditions. Always check the weather forecast and consider how it might influence the race.
Factor in Trap Draws
The starting position, or trap draw, of a greyhound can greatly affect its performance. Some greyhounds have a history of excelling from specific traps. Analyze the past performance of contenders from different trap positions to identify any advantageous or disadvantageous patterns.
Use Staking Plans
A staking plan helps manage your bankroll more effectively by determining how much to bet based on the perceived value of a bet and your overall strategy. Popular staking plans include level stakes and percentage stakes (adjusted for odds), these are two of the better staking plans to implement.
Each approach has its pros and cons, so choose one that aligns with your betting style and risk tolerance.
Common Mistakes to Avoid
Even seasoned bettors can make mistakes that cost them money in the long term. By being aware of these pitfalls, you can avoid unnecessary losses and enhance your betting strategy.
Chasing Losses
One of the most common mistakes is chasing losses. After a losing streak, it’s tempting to place larger bets to recoup losses quickly. However, this often leads to further losses. Stick to your bankroll management plan, and remember that consistency is key.
Betting on Favorites Only
While favorites often have a higher chance of winning, this doesn’t mean that they will always be value. Rather then chasing the feeling of winning, you should adjust your mindset to long term profitability.
Ignoring Value Bets
Value betting involves finding bets where the odds offered by bookmakers are higher than the actual probability of the event occurring. An easy way to find value bets is by comparing odds close to the race, some bookmakers are slow to adjust to the flow of sharp money coming in to the market.
This is a really easy strategy to make a profit from in the long term!
Overlooking Recent Form
A greyhound’s recent form is one of the most critical indicators of its current capability. Bettors sometimes rely too heavily on historical data while ignoring recent performances. Ensure your analysis includes a balanced view of both long-term and recent form.
Emotional Betting
Betting based on emotions rather than logical analysis is another common error. It’s easy to get attached to a favourite greyhound or let a previous win influence your next bet. Maintain objectivity and base your decisions on data and sound reasoning. Avoid drinking alcohol and betting, it is a quick way to start making bad bets and losing money.
Conclusion
Betting on greyhound racing can be an extremely profitable side hustle or even full time income if you are develop your betting ability. In comparison to other sports there is a lot of value to had in the markets. Due largely to the fact that bookmakers are putting most of their resources into the major sports:
- Football/Soccer
- Horse Racing
- Basketball
- Cricket
This means that the sharp greyhound bettor can often find exceptional value in some of these races. That can lead to big profits for those with the right approach.
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