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Betting on horses is without doubt very exciting but it can also lead to immense headaches if things go wrong. Unfortunately, people tend to make a few mistakes again and again when they place bets and these can work out to be very costly for them.

#1-Not Using Betting Banks

The failure to keep a sum of money aside just for gambling can prove to be very costly in the long term. This money should always be kept apart from your main finances so that you do not dip into them in order to keep on gambling. This also means that you need to maintain a dispassionate and professional attitude towards gambling, no matter how much you enjoy it, or else you will end up wagering (and most likely losing) your gambling funds as well as your main funds.

#2-Incorrectly Computing the Amount to be Staked

This can leave you without any protection in case you encounter a losing run. Once you know exactly how much you can wager then you should break that amount up into the number of wagers you can place during that session. Therefore, it is necessary to decide the correct amount to stake per bet and then to stick to it. This will help you ride over rough patches and enable you to gamble for a long period.

#3-Chasing After a Loss

If you have had a bad run at the races then it is best to call it a day and try again. However, most punters are quite ill-informed and they make erratic and aggressive bets as the session draws to a close. In fact, this is such a common mistake that the final race on any day is normally the one with a handicap or some reason that makes winning money very difficult.

#4-Looking for Quick Money

This is a very human weakness and one that leads you to place risky bets at high cost. In fact, bookmakers employ a very common tactic of offering you a selection of bets that can supposedly make you rich in an instant. The fact that experienced punters rarely place these multiple bets should say something about their lack of reliability.

#5-Not Having a Disciplined Approach to Betting

Placing random bets just for the fun of it, and without appraising all factors fully, will lead to losses. It takes a lot of self-discipline to not bet on certain races if you feel the price is not right, and this will be beneficial in the long term.

#6-Being Emotional When Betting

There shouldn’t be any place for emotion when you are betting because it will cause you to throw all caution to the winds. For instance, betting on a horse because its name has sentimental value for you will not get you results unless you are really very lucky. Its best to be calm and rational when betting on horses so that you know what exactly to do.

Horse racing is a truly spectacular sport to watch and you can enjoy yourself tremendously by participating in it as a punter. Avoiding the mistakes listed above will help you make money from it as well.