Your Bottom Line
my first article, I
about many of the factors
that need to be considered when setting a goal for gambling. I
one particular plan was flawed. How can you use the questions I posed
out a successful plan and increase your profits, or at the very least
much of a bankroll do you have to put towards gambling on horses? The
answer to this question for most people is -- at least initially --
going to be
a fixed amount. If the answer was $5,000, it’s
unrealistic to believe you
can magically make another $5,000 and increase your bankroll to
mapped out a goal, only to find
out your bankroll was too small to achieve it, what
can you do? My advice: Listen to what professional athletes are often
play within your abilities. Do your best with what you have as opposed
swing for the fences. You don’t have to be Albert Pujols to
win at the races.
You can be David Eckstein as well. As Clint Eastwood once famously
said, “A man
has to know his limitations.”
bigger bets and hope you will
succeed. I can't think of a better test than to try and build your
betting! If you can't do this, other methods of your plan are
need to be fixed. In “Pace Makes the Race,” Dick
Schmidt recommended starting
with $200 and building from there with solid bets. If you
can’t do that, he
reasoned, there’s no reason to think you can succeed with a
larger bankroll and
swinging for the fences.
What expenses do you
have that directly relate to wagering on horses?
instinctive thought here is to cut expenses as much as
reasoning is seemingly obvious: The less you spend on things for
the more you have for betting.
believe that instinct is wrong
here. If anything, I would recommend that you increase your
expenses if it
will help you achieve a better return on investment (ROI), or if they
allow you to play longer hours, or decrease the time needed to
people cringe at the thought of paying $600 for a piece of shiny new
guarantee, however, that there is software out there for any type of
that will move up your game in some manner.
you are an at home player, spend the
money for a very nice monitor and a great television screen, if at all
I could list many more examples, but anything that makes the experience
betting horses more comfortable and/or less time consuming is probably
days per week can you handicap and
wager? The best advice
I can give here is to map
out a schedule, and
don't deviate from it. If you decide you will not play on Sundays,
tempted to do it because you had a poor day betting on Saturday. Having
schedule is also important for those with a family. I'm no Ann Landers,
you are neglecting your wife and children to gamble, you should
probably find a
4. How many
race cards can you realistically
handicap and bet? It’s
become increasingly common
to try and wager on as
many cards as possible in order to find as many overlays as possible.
tempting but there is also the danger of overreach. Again, you have to
your limits and play within yourself. Go with what feels comfortable
all the tools you have available to expand your menu.
you are a Daily Racing Form
handicapper and like to watch replays and make notes of all the races
tracks you follow, it is highly unlikely that you can play more than
one or two
tracks successfully. If you are using software of some type,
you might be
able to play 10 or more tracks in a day without much difficulty. The
key is to
handicap the races where the expectation of winning is high, and don't
time on races with a poor expectation or where your own record is poor.
Finally, never bet a race you dismissed as unbettable after trying to
in some last minute handicapping.
weeks a year can you handle
wagering? This is a related idea
to #3 above. Set a schedule
and stick to
it. I doubt many horseplayers are going to be vacationing on the first
in May or on Breeder's Cup day. Plan ahead for days you know you don't
miss, but allow for breaks in the year. Breathers to recharge the
critical. In those periods forget about racing, and come back
to the fold
only when you planned to do so.
percentage of the races you handicap
do you find quality wagers? I
consider a quality
wager one where I
have a solid opinion not shared by the general public. The only way to
the quality wagers you make is to increase the number of solid opinions
have. There are many ways to do this, and I'll list just a few.
replays and making detailed
notes is a great way to find things the public will miss. Obviously, I
having solid pace figures and learning to use them will give you an
the public. There is some great pedigree information available
that is well worth the money. Other possible edges include
trainer patterns, foreign race information, post position and track
analysis, workout patterns, paddock behavior, form cycles,
bet primarily straight wagers (win,
place, etc) or exotics? This is
a personal preference. Some
consider include which tracks you are playing, what is the size of your
and are you betting into the pools or not. In the latter, if not, know
your betting service imposes on your wagers.
you are betting into the pools,
understand how your wager size can change the payoff when you win. A
exacta bet at Aqueduct will not have nearly the same impact as the same
a lower -- bet at Hoosier
your expected return on investment
based on previous success or expected success?
articles in this
space will deal mainly with handicapping and suggesting ways to
getting a rebate? If you are not,
can you? The recent closing of
Pinnacle to U.S.
- based customers came as a
major blow to a lot of players. However, plenty of options remain
the intrepid few, both off-shore and pari-mutuel. I recommend waiting a
months and researching the different possibilities. Then, create a page
all the pros and cons of the sites before making a final decision.
the first two
on this site will help you develop a solid plan for attacking the
matter what, however, you won't win money unless your ROI is in the
at least doesn't lose more than your rebate earns. You also need to bet
enough money to
your ROI. In the next article, I will begin examining ways to improve
while maximizing the amount of money you can put through the windows.
© 2007 Craig