We all want to know how to bet on horses, especially when it comes to making a profit. Over 99% of people donate money on a regular basic to the bookmakers, which does not leave that many who are making a profit. Even so, if we take the number of professional gamblers at 0.75%, that still means that out of every 1 million people, 7,500 are making good profits, and a few million people bet regularly in the UK.

So if you want to know how to bet on horses for a profit, use the following advice.

• You are advised to have more than one account to bet with. You should definitely have an account with Betfair, and one or two bookmaker accounts. This is so that you have the option of betting at the best price. Most of the time you get better odds on Betfair, but when the horse is odds on, you may get better value with a bookmaker.

• If you are unable to select horses yourself that profit over the long term, then find resources that supply them. Win2Win supplies consistent profits to followers, both with the selections, and the systems. There are others out there though, but avoid tipsters in newspapers, as they are paid to tip in every race, profiting is all about being selective, and betting when the long term odds are in your favour.

• Always use a betting bank, without it you will have no control over what you are betting, and so you’ll have no idea if you are profiting or not. Many people who do not use betting banks kid themselves into thinking that they are profiting.

• Use a staking plan, and stick to it. I always recommend starting off with 3% for backing, and 1% for laying. In most cases you can start with a £50 bank. If you can’t profit with that for the first few months, then a larger one certainly isn’t going to make you more.

• If you are just starting off, you do not want to increase you stakes until you are comfortable with what you are doing. Once you have been betting for around 2-3 months, and you bank has at least doubled, then you can think about an increase.

• Backing is far more profitable than laying, although as I supply far more lay bets than win ones, the profits can level out over time. Laying is a lot more volatile though.

• Do not do fun bets, if you are, then use a separate betting bank, this way you quickly learn how much they are costing you.

By learning how to bet on horses like a professional, you are taking your first steps in controlling your losses. If you have been betting for years and losing, then you first have to learn how to stop losing, and the advice above can help you do that.