This year will be yet another huge one for those that follow horse racing, with some of the biggest races on the calendar set for captivating renewals.

For fans of the sport in the United States, the racing action will step up a gear when the Triple Crown series gets underway with the Kentucky Derby in early May. Check here more info: twinspires.com/kentuckyderby/

Meanwhile, European fans will be counting down the days until the start of the Cheltenham Festival in March.

So, what are some of the key tips that horse racing bettors should be following to ensure that they stand the best chance of returns on their selections this year?

Set A Budget

One of the most important tips that all bettors must follow in order to ensure that they stand the best chance of gaining long-term success is to set a budget. This ensures that bettors don’t over-spend when wagering on the action, and ensures that there is always room for long-term profit to be made.

Bettors should ensure that a budget is set before making a deposit into their online betting account, and under no circumstances should the budget be exceeded. The vast majority of bettors will set a budget for each race, while a budget for a day at the racing should also be set. Only if you set aside money to wager with will you have long-term success when wagering on horse racing.

Study The Form

It goes without saying but studying the form of all horses involved in a race is a must before making a wager on the racing action. Bettors should go through all the different form lines on offer, and assess the pros and cons of each runner in the field before making their selections. That includes assessing the distance that horses excel over, and whether they underperform on certain ground.

This could help shorten the number of potential winners of a race, and will enhance your chances of finding the winning horse in the field. As well as looking at the distance and terrain that horses have won over, it is also important to assess the grade that they have experienced success. For example, a horse that has won nothing better than a listed race will have more to find in a Grade 1 against runners with proven records at the highest level of the sport.

Jockey-Trainer Form

An essential factor to consider before making a selection on horse racing action is the form of trainers and jockeys. Proven winning records over the last 14 days will show that trainers are hitting form, and there will be more chance of another victory for one of their runners from their stable. Meanwhile, jockeys that are enjoying winning records on track will be riding with extra confidence, and that could count for a lot when it comes to the business end of races.

However, trainers will a poor recent strike-rate could prove to be down to something being amiss in their yard. Therefore, trainers with a poor recent winning record will typically be overlooked by bettors. The same also goes for jockeys with a poor recent record, as this could be a sign that they are riding with no or little confidence. Trainers and jockeys with proven records in graded races should also be assessed, as these trends can typically point to the most likely winner of another race at the highest level.

Assess The Betting Markets

Horse racing experts will typically assess all the betting markets before making their selection, as it could be worth making their selection on a different market to ensure the best chance of a payout. For example, if you like a runner at a bigger price in a race with a short-price favourite, then it could be worth making your selection in the without favourite market.

Furthermore, outsiders will also be very popular selections among bettors in the place or each-way markets, which ensure that returns can be achieved if their selection finishes second and third, adding some insurance to their bet in case the selection doesn’t win the race.

Some of the most popular strategies to achieve payouts on horse racing revolve around exploring the different markets, meaning that you should become familiar with what each entails.

Weigh Up Expert Opinions

Bettors should always do all of the hard work themselves in terms of research, but many will still look to get some validation for their beliefs by assessing the views of an expert.

You should ensure that the expert that you select has a winning strike-rate, as there are many on social media that have poor records and will not be worth following in terms of getting winning selections. However, as mentioned, bettors should ensure that they do their own research, as this will be the best way to make a neutral and unbiased selection on the race that they are betting on.