Aussies love to have a punt on things, hoping to maybe get lucky and score a big payday. We gamble on practically everything, from poker machines, sports betting, the lotto and of course, horse racing.

In order to win big on a horse race, you generally have to risk a sizeable sum of cash, whereas with something like lotto you can potentially win millions for just a few dollar’s spends. While that lotto payoff has the potential to be huge for such a small outlay, the chances of winning a big prize are close to zero.

Horse racing might not pay millions for a $2 bet, but it’s a lot easier to win money punting on the ponies than sending yourself crazy trying to snare a lotto jackpot.

So how can you win bigger money on the horses? Is it even possible without risking thousands of dollars in the process?

Exotic Bets Can Help

Exotic bets are more complicated bets. They involve more horses, and often more options and combinations. Exotic bets really start with the quinella bet, which is the most basic of them all and they get more involved from there.

As exotic bets are harder to get right, the odds are higher and therefore so are the payouts. Of course, this all depends on what horses feature in the placings. For example, if the first 3 race favourites come home, the payout for picking this trifecta is going to be considerably lower than if even one of those horses was way less fancied.

Focusing on exotic bets for Melbourne Cup betting can be a challenge as the odds get skewed on this race due to so many people placing bets based on all sorts of novel criteria. This could potentially work in your favour regarding payouts or against you. It just depends.

If you’re only placing bets on a win or a place, or an each way bet, the payouts are so low for the most part that you actually have to risk putting down bigger money in order to see a decent payday.

Exotic bets give you the opportunity to win bigger for smaller wagers, but the obvious trade off is they are harder to get right.

Trifectas are a very popular exotic for a number of reasons. One is that it’s easier to pick the first three horses past the post than it is the first four, such as with a quadrella, but also because many trifectas can pay out quite handsomely. It’s not always the case, depending on the odds of the horses and the size of the field (which will also affect the odds), but regularly just a simple $1 bet can net you hundreds or even thousands of dollars if you get it right.

So should you just constantly gamble on exotic bets, randomly picking horses and hoping for the best?

If you were to take this approach you’re putting yourself on the road to failure. You will get lucky some of the time and get one right, but most of the time you’ll just lose your money without any real betting system in place. You could snare a big win that keeps you in profit for a while, but any sort of random strategy is going to prove fruitless in the long run.

Another strategy that’s sometimes used is the “lotto” approach, where you might have 3 favourite numbers and use that number combination when placing your trifecta bets. The same idea could be applied to the quadrella, by sticking with the same 4 numbers.

Again, while this is some semblance of a system, it’s not based on odds, form, track conditions or any of the other very handy data at every punter’s disposal. With all this information literally at your fingertips on the internet, punters would be crazy not to take advantage of it.

With many forms of gambling you get very little to nothing to go on. It’s all down to chance, but with the horse racing industry there is a wealth of stats and info to use to your advantage. That’s a big plus.

You can definitely win decent money and win consistently with exotic betting, but it also takes research and a commitment to learning how to choose the right horses at the right time. That can only come with time and dedication.

 

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