No sports betting event excites risk-takers and racing lovers more than Preakness Stakes. The Preakness Stakes is part of the Triple Crown racing series, also known as the highest standard of horse racing and an avenue of fame for jockeys, horses, and aspiring sports bettors.
With so many games and wager types the event offers, starting can be a little daunting. As such, we made a quick guide for you to prepare and play like an expert on your exciting sports betting journey.
1. Keep Your Emotions in Check
To start betting the preakness 2023 games and circuit races, you must first keep your emotions in check. Sports betting, in general, can be a wild and adrenaline-pumped experience.
If you’re familiar with horse racing, you’d know that every race can be a loud mess, from excited spectators to frustrated bettors, and there’s no wonder why there are cases of hostility and violence amongst the crowd.
The actions that affect your decision-making process make it easy to be lured in. To win big, you must be objective and keep your emotions from influencing your actions. Playing like an expert requires solid emotional fortitude and making decisions based on critical thinking and logical reasoning rather than personal biases and public opinion.
2. Take Advantage of Betting Platforms
It is almost a disadvantage for you to start your betting journey without using an online betting platform. Such websites offer a plethora of advantages and conveniences for you.
To begin with, betting platforms have lucrative incentives when you make an account and bet your money through them. Each online platform is different; some may offer early bird discounts, cashback promos, and other rewards the longer you play with them.
Another significant advantage that you should take is that most sports betting platforms publish the latest news, reports, scheduled matches, and more! Information is a bettor’s greatest weapon to win; find a platform that offers the best deals and convenient services to make the most out of your time and money.
3. Learn To Diversify
As mentioned earlier, the Preakness Stakes 2023 offers a plethora of wagers and all kinds of games to bet and earn money. For example, while most bettors place wagers on potential race or seasonal winners, you can instead bet on specific finish orders or long-term series winners and other odds and ends.
We recommend taking safe wagers on common wager types; find something you’re comfortable with, and eventually, you can pick your wagers and increase your win streaks.
4. Take A Second Look at Beaten Favorites
Beaten favorites is a term named by top-performing horses that brought impressive performances but recently lost a season or race before or during Preakness. They are commonly tagged on most betting platforms.
The thing about beaten favorites is that these horses have strong performers who only lost a recent race, but their past performances are something you have to take a second look at. Also, bookies often change the odds and risks, especially if inflated odds are due to public favor.
As a result, you can take advantage of the inflation and get more significant rewards from safer wagers. And if you’re early enough, you can get various deals that bring the most value.
5. Build Your Bankroll Budget
Cash is the most crucial part of your journey; most average bettors might have used more than they can afford and garnered financial issues. Sports betting can be a dangerous avenue for addiction, and you’d want to set realistic expectations on maximizing your emotions and resources.
Before starting a budget, understand and research the fees associated with sports betting and make quick price lists of the games you would attend and their subsequent feed. With that, you can easily organize and keep hidden things hidden.
6. Consider Former Derby Winners Playing at Preakness
No doubt winning on Preakness raises your status as a unique entity amongst the public. Most bettors would support this and even support other horses performing teachers in the long run.
If you see a horse that recently performed well on a circuit, take a second guess and make investments in that horse. Chances are they are all from the attack and have been training more than ever to improve from their mistakes and gain a competitive edge on the actual race.
7. Expect Losses
Part of everyone’s betting journey is to lose at some point, and unless you can predict the future, it’s implausible that you’ll never lose playing bets throughout the season.
The question is not how to avoid losing in a bet but how to recover from it. The above statement about keeping your emotions in check and diversifying your bets is one of the best ways to slowly build your bankroll and keep playing on the sports betting field.
The worst thing you can do when losing is to chase it. Chasing refers to a betting behavior where you make repeated wagers on a similar value to recover your losses. Chasing losses only brings you further down the hole until your bankroll runs dry or you see yourself using your savings.
If you see yourself on a losing streak, take a step back and re-strategize, it helps to take a break and slowly pick yourself up to be a better bettor.
8. Rely On Your Wits
How you prepare and understand the wagers dictates whether you win or lose. Some people share professional insights, suggest what odds to bet, and go as far as predicting outcomes.
When this happens, try to avoid them and be skeptical of their claims. The best person you can rely on is you, and as long as you equip yourself with the proper knowledge and understanding, you can be objective and make clear, concise choices.
The Preakness Stakes is full of fun-filled action and a promising sports betting avenue for you to win big and get the jackpot. As such, this sports betting avenue is always on its high spirits and adrenaline-fueled audiences while using engagements and posts when possible.
You do ample research, set realistic goals, and learn how to calm yourself against your personal biases. Remember, winning in any sports betting event requires information, critical thinking, and muscular mental strength to win like a professional, no matter what wagers you’re playing in.