The Kentucky Derby takes place every year on the first Saturday in May, and its a race that many horse racing novices like to follow. Along with the Breeders’ Cup and the other ‘Triple Crown’ races, the Derby attracts the most mainstream attention. Understanding the intricacies of horse racing is a very involved study.

Despite the complexity of understanding horse racing, there are a few basic rules that can help the novice watch the Kentucky Derby with a greater degree of enjoyment. Until recently, the Derby was a race dominated by the favorite. In the 1970’s great horses like Secretariat and Seattle Slew blew away the field but since Spectacular Bid’s winning run in 1979 there have been only a couple of favorites to win the big race. While a serious horse player might not want to categorically dismiss the popular favorite, for the horse racing novice this is a helpful way to narrow down the field.

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Sports betting futures wagers can be an entertaining and profitable investment, but there are a number of pitfalls. These are some things to avoid:

Don’t bet at the first place you look: In other words, shop around for the best price. This is essential to all aspects of sports betting, but especially important with futures wagers. You’ll find more disparity between prices from book to book on futures than any other betting proposition. From a theoretical standpoint, a little work can yield much better value. From a practical standpoint, that means a higher payout should you win. The reason for this is that individual sportsbooks’ aren’t as worried about what the other guys are doing as they are with most other bets. Once the futures “market” is set books move the lines almost exclusively on their own financial position. The market simply doesn’t respond as quickly to futures wagers as it does to individual game lines so it is essential to do the extra work to get the best price on your proposition.

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There’s a strange dichotomy between the complexity of high level sports handicapping and the amount of theoretical literature on the subject. While successful sports betting is a complex and difficult pursuit, there’s very little that’s been written on the subject from a serious theoretical angle. For that reason, it can be helpful to delve into the wealth of books available to the serious poker player for insights that can be applied to sports betting.

On one level, this is likely due to the fact that poker”like sports gambling”is a pursuit in which the knowledgeable and skillful practitioner can overcome the theoretical odds against him. To paraphrase the great poker theoretician Bob Caro, there are some professional blackjack players and sports gamblers in addition to professional poker players. There may even be a few professional horse players (though the house edge against the horse player is a hefty 17% or so). In the entire world, however, there is not one professional roulette player.

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