The Facts: Horse Racing
Know the facts. Don't fall for the myths. It will help you gamble responsibly and stay in control.
Myth: `Knowledge ensures success.’
Fact: There are always unforeseen events that influence the outcome. In horse racing, a favourite would attract a lot of bets (paying a small amount), while a long shot would attract only a small mount of action (paying a larger amount).
Myth: `Betting with the majority increases my chances of winning.
Fact: Firstly, it is important to realise that the majority of bettors lose money. Secondly, the payout rate is a direct function of how the majority bets: favourites pay out less than long shots.
Myth: `If I wear certain clothes, or perform certain rituals, I’m more likely to win.’
Fact: These actions make no difference to the outcome.