Having bet can be a lot of fun, however there are times when you need to really consider whether or not a bet is a good bet, in fact whether or not any bet is a good bet.
In a previous post I discussed the value that can be found in large fields (Value Bets In Big Races). Often the opposite can be true as well. Take a big race with a small field and you may find that a good value bet is hard to find.
A good example is the Golden Slipper, the worlds richest race for two year olds being held in Sydney, Australia today. Think about all the factors in this race. First, they are two year olds - always unpredictable. Second, it is a smallish field. Add to that the track conditions (very wet), a big noisy crowd, and you have a recipe for uptown aces online casino disaster.
Many professional punters steer clear of these types events, and for good reasons. The favorite may 2/1 today. It is well tried and a winner over the distance. It has won in the wet. So far, everything looks good.
However, think of the other 14 horses. Most are untried in the wet (one may be a wet track champ waiting for the right conditions). Most are not very experienced in the racing game particularly when it comes to big crowds and noise. I think 2/1 starts to look a little shaky now. The favorite may have a good run or it could get knocked rotten.
Gambling is all about risk assessment. When placing a bet, sometimes it is better to work out the risks against your selection, rather what your selection has going for it. Once you have worked out the risk, you can then determine whether or not the bet is a good bet, or a very risky bet.