Here’s the truth: every time you place a bet, you take a risk. There’s no sure way of telling if your wager will have you on top or end up with the bookie. People have placed thousands of dollars, sure of a win, only for their dreams to come crashing down, leaving them frustrated, angry, and even shocked. It’s a gamble, and the risk will always be high. On the plus side, the returns are also high, and if you get it right, you’ll be the one singing to the bank.
No. All forms of betting carry a risk, and none is riskier than others unless you bring in issues such as illegality. As long as you put in some homework and understand what factors influence the risk level, you should be fine. For example, if you bet with an unlicensed bookie and they refuse to pay out your winnings, you may feel that motorsports betting is risky. However, this can happen with just about any other sport.
As far as the safety component raised by punters, times have changed. Yes, back in the day, many accidents rendered punters to lose their bets when their favorites did not make it to the finish line. But of late, there are more safety measures, with motorsports attracting some of the best technology and structural experts in the field. While there may be a few incidents here or there, you are almost always assured that your favorite will not suffer an accident. Again, this can happen with any sport. Even in sports, you may bet on a football team and have your eyes on a player scoring X number of goals only for them to suffer an injury or a red card.
All factors considered, betting on motorsports is just as risky as other markets. Thus, you should not avoid it for fear of losing your money to risks specific to this kind of market. Betting is a gamble, and the chance of losing is always higher than that of winning regardless of your market.
Let’s consider some factors which may make your bet riskier than it should be under normal circumstances:
There are tons of bookies in the market and when choosing who’s the best for you, keep an eye on factors such as customer feedback, payment methods, if the site can operate in your region, revenue generation, and others. While you may have made a good bet, you may find that accessing your funds may become a problem once you win. It happens with all sports, and you need to work with reputable sites to avoid such occurrences.
In motorsports, you mainly place your trust in the driver and not the car as such. Even with the best car in the race, a driver can still end up lagging. You’ll find that most cars share technical characteristics, and once you combine this with the long set of rules governing the races, it ultimately comes down to the driver. As such, the only way for you to get a good profit margin is to understand who’s driving the car by looking at the past statistics, comparing these with the present conditions, and making an informed decision.
Some series, such as formula 1, feature a whole team that ensures the car makes it to the finish line fastest. The team comprises the manufacturers, the strategists, and mechanics, among other skilled professionals, whose work creates a solid foundation for the drivers. By focusing on these people, you can understand how likely a driver is to make it to the finish line because most of the groundwork will already be in place. Look up the teams that have been doing well in the last few years and see what you can use from this data to predict the next event’s outcome.
Here is a factor over which you have no control but affects the cars and the drivers. Some drivers do better when it’s rainy, while others do their best in calm weather. Figure out where your preferred driver is likely to rank if the weather takes a turn for the worse and factor this into your decision.
All in all, betting is risky, regardless of the market. However, by doing your homework, you can reduce the risk by a great deal. All the best!