While @DecapitatedSoul's answer may be linguistically correct, my answer is much more similar to how @CowperKettle's describes things. It's based on how I learned English and phonics in a English language elementary school in Canada in the 1960s.
In general, English vowels come in two flavours (note the non-American spelling). Those are: short and long. For example, mope has a Long O while hop has a Short O.
So you end up with
| Vowel | Short Examples | Long Examples |
-------------------------------------------------------
| A | apple, hat, cap | cape, hate, grape |
| E | end, den, hell | free, eat, he |
| I | hit, bill, dip | kite, pile, dike |
| O | mop, pot, bob, hop | mope, hope, lone, pole |
| U | hum, tub, cub, run | cure, rule, cube |
Note in the examples I've given, the rule that @CowperKettle mentions mostly holds (except for Long-E, which is special it seems (something I'd never noticed before)). So, if you were to take some of the verbs and form the "-ing" version, you'd end up with
| Vowel | Short Examples | Long Examples |
-------------------------------------------------------
| A | capping, batting | hating, mating |
| E | begging, betting | -doesn't really work- |
| I | hitting, dipping | kiting, piling |
| O | hopping, bobbing | moping, poling |
| U | humming, running | curing, ruling |
English, being English, that's the rule but there are tons of exceptions. However, learning this rule is a great way to get going. It's something that got me through spelling and grammar as I learned English in elementary school.
It's one of those useful language rules (like learning how to conjugate "-er" verbs in French) that gets you 70% or 80% of the way.