Sharing is caring!

There is few more exciting horse racing events on the international calendar than the Triple Crown. The series begins with the Kentucky Derby in early May, before the Preakness Stakes takes place two weeks later. The Triple Crown then comes to an end in early June, with the Belmont Stakes.

Betting on all three Triple Crown races is exceptionally popular across the world, with millions dreaming of finding the winners in each of the races that are staged. But, what are some of the key tips that should be following to ensure that you manage your bankroll over the exciting period?

Stick To Your Budget

Before making your first bet on the Triple Crown races, you should first determine what your budget will be. It is a very basic step to maintaining your bankroll, but it is one that should be followed regardless of your wins and losses. 

For example, if you put aside for $100 worth of bets for the three races, then you shouldn’t spend a penny more. This can be furthered by setting yourself a $50 budget for the Kentucky Derby, and $25 budgets for the Preakness and Belmont Stakes. 

Sticking to your budget is one of the key factors that must be followed to ensure long-term success with betting. So, even if you guess the next name to headline the Preakness winners list, don’t spend all your earnings on Belmont three weeks later.

Set Your Stake

After assigning the budget that you wish to spend on bets throughout the Triple Crown series, you should then examine the amount that you wish to spend on each selection that you make. This will be different depending on the bettor, as some will be happier to put higher stakes on their selections. 

You should also ensure that the stake doesn’t see your budget exceeded, which may mean that you will have to limit your selections in each race. Like the budget, you should never exceed the stake that you wish to bet on horses as this would be a poor long-term strategy. 

Don’t Bet On Every Race

While each of the Triple Crown races are the standout contests on the days that they are run, there is also a stacked undercard of high-quality action. There could be potentially seven races before the Triple Crown race on the card, and therefore it could be a poor tactic to bet on every race to try and build a purse for the race that you wish to bet on.

This could see you exceeding your budget before the Triple Crown race even starts. It doesn’t hurt to watch a few races on the undercard, as you can learn more about how the track plays, and study whether the track bias could play a part in the big race. 

Welcome Bonuses

One of the best ways to get ahead from your first day as a bettor online is by taking advantage of a welcome bonus. All the sportsbooks in this modern era boast a welcome bonus, and it is encouraged that all bettors take advantage after signing up for a new account. All welcome bonuses offer something slightly different, with some offering a free bet, while others may give bettors a risk-free wager on their first bet online.

Taking advantage of a welcome bonus is an important factor for those looking to manage their bankroll, as it would offer players an immediate opportunity to boost the amount of money that they have to play with. It could also present an educational experience for newcomers, as they could wager a small amount of money on a new market. This would be the perfect way to learn more about the betting markets available when betting on horse racing.