What are some ways to manage money on a full day of horse racing?

Question

What are some ways to manage money on a full day of horse racing?

Answer 1

Arrive an hour early.  Handicap all of the races and then place all of your bets for the day before the first race starts.  That way, you will not give in to any emotions as the day wears on-- plus you can sit and relax between races instead of running to bet every 15 minutes.

Answer 2

I like to do my "homework" the night before by getting the Daily Racing Form in advance.  Once I've handicapped the entire card, I make my "paper" bets by how confident I am of my picks (i.e. a $20 bet on a horse or exacta I really like and a $5 bet on less likely choices).  I add up all my bets and that's my bankroll.  Once at the track, I only bet on the current race in case something changes my mind during the day (i.e. late scratches, a horse not looking as good as I would expect, or if I have won some money and like a horse or exacta better than before).  This makes sure you have enough to bet all the races the way you want and then with some winnings bet a bit more if you feel so inclined.

Answer 3

The most reasonable is to divide your money equally between the races you are most interested in (which may be different from the races you bet on).

The logic is simple; wagers in any given race should be totally independent of the results of other races. The horses have no idea whether you won or lost the last 3, 4, or 5 races, and in any event, would not alter their performance one bit in response.

That may be contrary to a lot of "advice" about parlaying wins, pressing bets after wins, "betting with the track's money" and similar ideas. It is, however, the method used by the majority of professional bettors.

For those professionals, it is clear that one win can often make the difference between a profit or loss on any given day. By diversifying your wagers among the most likely races, there is a strong possibility that one or more will prove to be that one race that makes a difference.

Finally, try to avoid the notion that every day should be profitable. Some very successful bettors--especially those who favor exactas and Pick 3 wagers--may go several days without a win, yet finish nearly every week (or month) with a substantial profit.

That is particularly true of bettors who restrict choices to "cold" combinations, rather than boxes or wheels. The win frequency is lower, but the return is much higher because there are fewer losing bets.

Lastly, you might check out:

http://www.ddssratings.com

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