Betting without the favourite is a strategy employed by some horse racing bettors to find value in the betting market. This approach involves placing bets on horses other than the race favourite, with the aim of achieving better returns. In this article, we’ll delve into the concept of betting without the favourite, discuss its advantages and disadvantages, and provide examples to illustrate how it works.
Understanding Betting Without the Favourite
When you bet without the favourite, you are essentially ignoring the horse that the betting market considers to be the most likely winner of the race. Instead, you focus on other horses in the race that you believe may offer better value or have a good chance of winning.
Bookmakers sometimes offer “betting without the favourite” markets, where you can place bets on the outcome of the race as if the favourite were not running. This means that if your selected horse finishes second to the favourite, you would still win your bet, as you are betting on it to win the race “without the favourite.”
Advantages of Betting Without the Favourite
Betting without the favourite offers several potential advantages:
- Better odds: By avoiding the favourite, you can often find better odds on other horses in the race, which can lead to higher returns if your selection wins.
- Reduced competition: With many bettors focusing on the favourite, there may be less competition for other horses in the betting market, which can lead to more favourable odds.
- Potential for value: If you believe that the favourite is overvalued by the betting market, betting on other horses can provide an opportunity to find value and potentially profit from the market’s inefficiencies.
Disadvantages of Betting Without the Favourite
However, there are also some disadvantages to consider when betting without the favourite:
- Increased risk: Favourites are often the most likely winners of a race, so by avoiding them, you may be increasing the risk of your bet not succeeding.
- Reduced chances of winning: While betting without the favourite can offer better odds, it also means that you are not backing the horse that the market considers to be the most likely winner, which can reduce your chances of success.
Example of Betting Without the Favourite
Let’s consider an example to illustrate how betting without the favourite works:
Suppose there is a race with a clear favourite, “Speedy Sam,” whose odds are 2/1. However, you believe that another horse, “Dark Horse,” has a good chance of winning and offers better value at odds of 7/1. You decide to place a £10 bet on Dark Horse in the “betting without the favourite” market. If Dark Horse wins the race, you will receive:
- Profit: £10 x 7 = £70
- Total return (including stake): £70 + £10 = £80
In this scenario, even if Speedy Sam wins the race, you would still win your bet on Dark Horse, as you were betting on it to win the race “without the favourite.”
Conclusion
Betting without the favourite is a strategy that can offer the potential for better odds and value in horse racing betting markets. By focusing on horses other than the race favourite, bettors can sometimes find opportunities to profit from the market’s inefficiencies. However, it’s essential to understand that this approach also comes with increased risk and reduced chances of winning compared to backing the favourite. As with any betting strategy, it’s crucial to do your research, manage your bankroll effectively, and always gamble responsibly. By understanding the concept of betting without the favourite, you can make more informed decisions when placing your wagers and potentially improve your long-term betting success.