Heres a few tips and also a few things to watch out for when you're picking your horses.

Focus on a few racetracks

This may seem obvious but its better to get a thorough knowledge of a few racetracks because especially in the UK they can vary enormously and can have a significant effect on the outcome of a race. If you watch lots of races at a few tracks it will help you considerably when it comes to picking a winner.

Betting on horses to win

If you're spending a significant amount of time working out which horses will win a race then you are usually better off placing bets to win. If when you have thoroughly looked into all the horses and still don't have an accurate idea of which horse will win don't bet on it. If however there are a couple of stand out horses and one has long odds then it can be worthwhile betting this horse to place.

Grade the amount you bet.

Bet different amounts depending on how confident you are of the horses chances of winning. For example if you think it is a dead cert bet £20 but if you think it only has a good chance of winning bet £5. Maximise the winnings from your best bets.

Only bet on favourites when you are absolutely certain.

Betting on favourites is not an easy way of making significant earnings when choosing your bets. It is best to try and find the overlooked outsider. Remember picking one winner at 10/1 is the same as picking ten winners at evens.

Shop around for price

Its always worthwhile shopping around for price. Odds can vary significantly between bookmakers. At the racecourse check with a few bookmakers before placing your bet. If you are betting online sign up with several different companies. Many offer free bets when you deposit funds for the first time.

Beaten favourites are often underbet

For some reason horses who were beaten as favourites tend to be underbet in their following races. Look for horses that were beaten on their last outing and you could find healthy odds for decent horses.