If you’re not very familiar with horse racing, then you may be wondering about all of the different terminology that comes with the sport.
The Pick 3 betting system is a popular betting strategy and is considered one of the best value bets. The most basic definition is that it requires the bettor to choose the winners of 3 successive races on one stub. If all three horses finish first in their races, then you stand to win a substantial amount of money. Keep reading for Pick 3 betting explained.
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Pick 3 Betting Explained
How to Use a Pick 3 Betting Strategy
The Pick 3 betting strategy isn’t a quick bet. To be successful, a bettor needs to consider a wise betting strategy, mixed with solid handicapping. The construction of your ticket is what will make or break your profits.
There are different types of Pick 3 betting strategy bets available.
The minimum Pick 3 $1 wheel, is an affordable option for a player to tie up numerous horses without spending a fortune.
Then a Pick 3 wheel combines horses 5 & 6 to win the first leg. Horses 2, 3, and 4 to win the second leg. Finally horses 7, 8, and 9 to win the third leg. This gives a possible combination of 18 and will cost $18 to wager.
The straight Pick 3 includes a horse in each leg, and can also be bet for a minimum of $2. This is available at most tracks. As an example, let’s say you picked horse 7 to win on the first leg, and horse 8 to win on the second leg, and horse 9 to win on the third leg. It would appear as follows: $2 Pick 3 – 7 with 8 with 9 = $2.
This is not to say that you can’t pick your favorite horse to win in any of the above. However, sometimes it might be better to have a closer look at all handicaps and choose wisely.
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Tips for Success
With a solid Pick 3 betting strategy, the more combinations you play, the higher your chances are of winning. You can, of course, get carried away as well. The best course of action is to decide on how much you’re willing to bet. Then work within that amount to the best handicaps.
To get regular wins in the Pick 3, we recommend betting around $48 or more. That works out to be $16 for the $1 variety. Even though it’s considered a ‘cheap’ bet, the Pick 3 is, in fact, not a poor man’s wager as you need to lay down some cash to get a payoff.
Keep in mind that focusing on a heavy favorite is often not the best way to go. Most other bettors are doing the same thing, and the payout will be low. On the other hand, the favorite does win about one in every three races.
So what’s the best option if we want to back the favorite? The best opportunity for this bet would be when you feel that the other two races in your Pick 3 mix have an excellent chance to both yield prize horses.
There may be instances when you feel strongly about your pick and the contenders. Many people would say just bet it, so perhaps you should.
This sport is not only about winning, partaking in this age-old game is fun too. If a simple bet of $10 for your Pick 3 turns out to be correct, then you are technically winning multiple times. Even if the winnings are only around $40. Many people are quite comfortable with this type of Pick 3 betting strategy, and if it’s comfortable for you, then stick to it.
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The Pick 3 betting strategy has had some stunning results for many bettors. We’ll break it down for you step-by-step:
Step 1: What is the win percentage of the trainer and the jockey? Add those two figures.
Step 2: Now look for the win percentage of your horse’s post position. Add 40% of that figure to the total from Step 1.
Step 3: Work out the percentage of the horse’s winnings over the past years. Add that to the total from Step 2.
There are a couple of exceptions to look for here:
If an animal has only one year’s stats, figure the percentage on the stats alone if it has six or more starts. If less than six starts and the win percentage is better than 25%, reduce the number by 40%. For example, if the figure were 25%, it would be reduced to 15%. This helps to ensure that the statistics aren’t skewed in the animal’s favor.
Take a look at maiden races. If the horse has had 12 or fewer starts, use the horse’s ‘in-the-money’ percentage. If it’s had more than 12, reduce the rate by 33%. This helps to keep horses that regularly lose from having an unfair advantage.
A 5-point bonus must be given to each horse whose rider is winning at 15% or better. The same goes for each horse whose trainer is winning at 17% or better. If only one of the two applies, then add an extra 5 points to the horse. If both apply, then give the horse an additional 10 points
After working out all of the above, you’ll need to add all of these points together. It will give you the final amount for each competitor.
This process might seem a little daunting but, bear with us and we’ll explain how to make sense of the figures. Now that you have the figures, what’s next? The following method has given some success to bettors.
Get all your figures together and circle the horses with the top 3 amounts. These are now your primary contenders.
If any of the horses have a lead of 8 points or more, then this horse should be seen as the logical ‘singleton’ on your ticket. If it turns out that the horse is the heavy favorite, then you might want to reconsider wagering the Pick 3, unless the other two races are wide open and ready for good-priced winners.
If you happen to have two horses that are 5 points or more above the others, then it would be a good idea to use both of these horses as runners.
If the amounts for the top 3 are all very close together, then you can consider using all of them if your budget allows you to.
If you’ve the budget to spend, and will be playing a hefty ticket, then consider using the 4th and 5th rated horses as well.
Some days you might not get singletons, but other days everything will work out fine. The underlying premise of this strategy is to isolate the contenders and then decide how to bet on them. It may seem complicated in the beginning, but don’t give up on this method. Many bettors have used it with great success.
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As social sportsbooks and social casinos don’t involve real-money gambling, they allow players to try out various approaches without risking any money. In particular, social sportsbooks like Sportzino can give sports enthusiasts the chance to use virtual tokens like Sweeps Coins and Gold Coins to practice and help build familiarity with strategies in a fun, no-pressure environment.
If you’re interested to find out more about the best sweepstakes sites, take a look at our top picks below.
Don’t try going to the races without doing your homework on the horses, jockeys, and trainers. Many people go to the races without looking at any information beforehand. They play the ponies on a whim or because they like a specific racer’s name. That’s a sure way to throw money into the wind.
Tip No.2 – Place Different Bets
We’ve been focusing on the Pick 3 betting strategy. However, there are many different types of bets. Explore them, and see which one you like best. A couple we can mention are place, show, and across the board bets, but there are many more available.
Tip No.3 – Odds Shopping
Once you’ve chosen the horse you want to bet on, and have decided on what kind of bet you will place, then it’s time to shop the odds. You can do this by checking with the on-course bookmakers, or with the various online gambling sites. After that, go with whichever option gives you the highest chances of winning.
Tip No.4 – Bankroll Management
This can’t be stressed enough, control your budget! Control your cash. Don’t use your living expenses to play the ponies. Before you begin betting, go through your finances carefully, and decide how much money you can afford to spend on betting.
You cannot expect to max out your savings account or credit card and then have money appear somehow. Play only with what you can afford to lose.
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Conclusion
Pick 3 betting strategy can sound like a complex and involved system. However, if you take a closer look at the information, and Pick 3 betting explained guides that we’ve provided here, then you will find that once it’s mastered, it can be a very successful strategy.
Like any new sport or hobby, it takes time to understand the fundamentals of the Pick 3 betting strategies needed to get success. Keep in mind that as long as you keep within your budget, and go to the races with a solid strategy, you’re sure to be successful.
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