Can You Make Money with Off Track Betting?

How People Make Money With OTB

While some don’t think off track betting can be a profession, you can still hope to make some money out of it if you follow some simple steps. One way to definitely benefit from off-track betting is to become a bookie. Another way is opening your own horse race betting website. In this article, we shall look at some simple strategies that may help you make some money with placing off-track bets.

Diversity is Key to OTB Success

Some people actually manage to make quite a bit of money out of their passion for off-track betting. And the key to their success is an open secret. They just have a diverse gambling portfolio. By definition, off-track betting involves any races taking place on a track, at which the individual placing the bet isn’t physically present. These include but are not limited to horse racing, hound racing, harness racing, etc. And the more races you place bets in, the higher your chances of success.

Make the Most of Your Bets in Off Track Betting

off track betting guide

Having mentioned the importance of diversified OTB, let us now focus on the value of up-to-date information. Speaking of gambling, luck is certainly the most important factor to consider. However, there is something else about people who make money out of off-track betting. They are always armed with the right information about the most important races of the day.

They can thus weigh the favorites’ chances of winning and also predict events that would otherwise be surprising. If you want to be like them, take some time to read all the event reviews beforehand. You can also join some off track betting groups on Facebook, follow topical forum threads, etc. 

The More You Read, the Higher Your Chances to Make Money from OTB

Ironically, placing more and more bets every day will not make you an OTB guru. Reading and following OTB channels online is what matters. You’ll thus develop a strong gut feeling of when the right time to bet is and when it’s best to pass.

Knowing when and how much to bet is the difference between the professional gambler and the enthusiastic rookie. There will always be surprises on the track, of course. The important thing in off-track betting is to make more money than you lose at the end of the day.

Minimize Preventable Losses

This means that you should choose an online gambling website that charges its users reasonable fees for account maintenance and transactions. Also, a good off-track betting website gives you a small rebate for every bet you place. That’s something you should be asking for.

Keep your eyes open for any extra charges that may apply when placing your bet. For instance, your bank may not allow you to register on certain online gambling websites for security reasons. So, you’ll have to use different electronic wallets like Skrill or PayPal. These might charge a fee per transaction. When opening your account, take the time to read the website’s Terms and Conditions, especially the section on charges. Also, make sure that the website covers a wide variety of off track betting events. If you are out of luck in horse racing, you may make a killing in hound racing instead.

Odds Aren’t all That Matters in OTB

6 to 1 is better than 12 to 1 when it comes to odds, but better odds don’t always guarantee success. Professional handicappers know that there are many other factors to consider. These include the type of track and whether a certain horse has had a winning streak at that particular circuit. The current condition of the turf is another factor. The people who make money out of off-track betting have lots of luck complemented with the right knowledge.