However, bookmakers/tracks usually only offer poor odds if you bet place or show on such a horse. The key point: is stay away from horse races where there are lots of runners!
In a race with only six horses running, you have a 1 in 6 chance of picking a winner. For this reason, I do not always place my money on the horse that is predicted to win. Often the odds on the horse most likely to win is poor. Of course, if you placed a win bet and the horse does win, then you will come away with lots of money. If the odds are less than 4/1, then I suggest passing such a horse race. However, let us say that the race has just six runners, then you have a 1 in 6 chance of winning. In a race with 20 runners you have a 1 in 20 chance of picking the winner. I suggest that you choose horse races with nine runners and 1/4 odds on the first three, or six runners with 1/4 odds on the first two. Therefore, it is statistically speaking, a bad race to bet on. And do not forget, the horse still has a chance of winning too. Thus, you can see that the fewer the runners there are, the better your chances of winning. In this case a favorite will place almost 100% of the time.
In my opinion, the secret of winning on the horses is to look at the statistics. Thus, I suggest that you limit yourself to horse races with either 6 or 9 horses running to have the best chance of winning.
Thus, the question asked is if you should bet on the horse most likely to win? Sometimes the answer to this is "no". The reason being that the odds are often better than the favorite winning the race. Remember, when you use this system, you are making your predictions on the odds. Why does the horse predicted to place actually wins so many races? Maybe because the favorite usually only wins 1 in 3 races. Thus, place your bet around 20 minutes to race time.
If the horses just below the favorite have better odds, such as 4/1, 5/1 or better; then place your bet on those horses. . You really need odds of at least 4/1 to win anything if the horse that you bet on places second or third. Remember, that your horse only has to come in the first three in a six or nine horse race for you to come away with a profit. Look at the odds being offered and if they are better on the second or third horse, then go for it.
In order to win a horse race, you might want to predict the winner by using statistical calculations instead. Of course, this is providing that you placed a place or show bet. In 2 out of 3 races some other horse wins.
As one can see, it often is better to bet on a horse you think is going to place.
As a general rule, the favorite will win about 1/3 of the time, but what is amazing is how often the favorite will place, especially when less than half of the field is 5-1 or lower