Horse Racing: The Secret Of Thinking Big Money And Not Thinking Small Money

The secret of thinking big money and not thinking little money is a frame of mind the player need to have if he or she is to make big money. The mass majority of players that consider Return On Investment (ROI) in racing usually consider making a few hundred dollars in profit over a few wagers spent. Or an ROI of a few cents or nickles on the dollars. There’s another way which is as simple and straight forward but much more powerful. This is the case where you intend to play racing as a job or career and play 1,000’s of races over several or more years and not as a pass time.

An example: in the course of 10 years exact at any major track in the USA when the money is summed for all wager types for such a time period it adds into more than several millions of dollars. If you sum the total for 4-5 major tracks it reaches over $30,000,000 for that same period. $30,000,000: THAT’S REAL NAVY, SON! If you’re thinking about getting 5%-70% of that then you’re thinking big money, big business and not gambling. Why? Because you’ll never see the day when gambling will net you that type of money. You need design and not luck.

Thinking small money will not do so either. And you can put your money down on that and win. The secret of thinking big money and not thinking small money in racing is to think big money in the right way. To repeat: the right way. Of course you can play the pick 6 and get lucky but you can’t repeat it at will. It was just an accident. The money is just as real of course. There’s a way to know statistically and of seeing the game a certain way. There’s a way to create a flexible firm plan.

An example of Return On Investment or ROI. In one year exact you put $500 in A and $600 in B investments. You get back $75 on A and $90 on B in profits. Turn each into a fraction and turn each into a percent. Such as: $75/$500 = 15% and $90/$600 = 15% respectively. Another example: in one year exact you put $1,000 each into investments A and B. You get back $75 and $90 respectively in profit. Turn A and B into fractions and turn each into a percent. Such as: $75/$1,000 = 7.5% and $90/$1,000 = 9% respectively. This is called rate of return.

To obtain a large percent of that money and the way to do that is to know and practice handicapping and profitcapping very well. Handicapping is predicting the order of finish positions of races well. Profitcapping is predicting the profit to be made from the in money positions from wager types and the payouts over months and years while dealing with each race on an individual and personal one on one basis. Don’t seek to make a few hundred dollars but 100’s of 1,000’s of dollars or a few millions of dollars. For this you need a business, a statistical and a thinking big money view-point. This is partially the secret of thinking big money and not thinking small money.

Betting on Horse Racing – Learning to Spot the Secret Signs to More Winners

There are many things to consider when betting on horse racing. Indeed so many that it can seem a daunting task with so many thousands of races throughout the year. There are key signs to look out for however if you want to consistently find more winners.

Nothing is set in stone and as with any form of gambling there are no guarantees. That said, if you learn to follow the advice below you are sure to start understanding when a bet on a certain horse may offer more value.

Given that one of the most difficult aspects of picking winners when betting on horse racing, is whether or not your selection is running to win on the day. You can often scratch your head in amazement in lower class races as horses that would seem to have less chance than others go in day after day!

What signs can you now look out for in order to back more winners?

Annual stable patterns

Firstly start to realise that sometimes results are not as random as they seem! Check the racing post to see which horse won the race last year and therefore which trainer. You will find many trainers targeting certain races throughout the year.

This may be because they have a good feel for the race and train one specifically for that event. Or that quite often certain stables start to perform at specific times of the year. This training ‘pattern’ is very worth keeping an eye out for. Nicky Henderson really starts to fire in November and early December, as Clive Britain tends to get his three year olds off to a flying start in April and Early May. These trends can change over time, but begin to understand that due to varying training methods and facilities, these patterns are not as random as you might first think!

Trainer Strike Rates

Making money long term betting on horse racing is about picking winners? To do that, if you consider that the more you focus on horses that cannot win a race the more likely you are to find a winner that can!

If you use this theory and start looking to find favourites that are short in price and can learn to get them beaten then you are on route to more betting success. So learning to use trainer strike rates when considering every bet is a shrewd and necessary method of form reading.

A 6/4 favourite that is being over hyped in the market from a yard that let’s say has a strike rate at this imaginary track today of zero winners from forty two attempts is most definitely worth taking on! One of the horses fancied with a bigger price from a yard with a twenty percent strike at the track is very likely to upset the favourite backers.

It is not your job as a punter betting on horse racing to work out why a trainer strikes well at a track. Just use the statistics to your advantage, as they do not lie! Let others follow in these false favourites and enjoy winning their money.

Betting on horse racing successfully is about thinking outside of the box, and where possible going against the common train of thought! Around 98% of punters lose, so the majority are not right most of the time! Really learn to use these tools above to start uncovering more winners at the races when betting on horse racing.

Horse Racing Tips – Who Can You Trust?

Horse racing tips are something that people at the racetrack are always trying to get their hands on. If someone has a hot tip about a horse in the second race, other race fans will clamor to know everything about it. After all, everyone at a racetrack can use a little help every now and then when it comes to picking a winning horse.

Ideally horse racing tips would be insider tips from the owner or a jockey’s agent. Of course 99.9% of the gamblers at the racetrack do not have that kind of information. There are many phone services and online handicapping services that claim to have such information. But because they cannot “reveal” their sources, the whole idea of it is sort of sketchy at best. We’ve all called these praying for it to be true and all you’d have to do is plop a $200 win bet on a nice $30 lock – but somehow those tips NEVER seem to pan out that way.

The best kinds of horse racing tips that people are using today are not really tips at all. Many avid horse racing gamblers have discovered certain gambling systems that allow them to plug in stats and other variables to produce a prediction relating to the horse that truly has the best chance of winning the race. Although these systems are not a quick way to get rich, it is possible to make a good amount of cash over the long haul.

These wagering systems give you a much better chance of picking horses that should win each race. By using a gambling system, it is possible to take away some of the luck that many people believe is a part of the game.

Remember the best system will include spot betting, hedging your picks and wise money management. There have been many systems floating and re-appearing in the mail and online claiming to be “new” and most are the same old same old.

The best case scenario is a “try before you buy” strategy. Track the sellers picks (free work best) and then determine if their horse racing system is for you. Or you can create one yourself. I’ll show you how in an article I’ll be posting soon.

See you in the winners circle!

Great Record Keeping Leads to Horse Racing Handicapping Success

Do you cringe when you see horseplayers toss their non-winning tickets on the ground at the track or on the floor of the Off Track Betting (OTB) parlor? You should. Good record keeping in any endeavor leads to success. This not only applies to your cash management, but your handicapping as well.

The Tax Man Cometh

Your tickets are the basis for good record keeping both for cash management purposes as well as handicapping. According to the Internal Revenue Service (IRS), “Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and also the fair market value of prizes such as cars and trips.”

A winning ticket over $600 (USD) requires the track or OTB to forward your information to the IRS. Commonly called a “signer” in horseplayer parlance, the track has you fill out a form with all the pertinent information required by the IRS and in turn you receive a “W-2G” from the payer. Should your handicapping lead to this kind of success, it is very important to save your losing tickets. You can then offset your winnings.

In order to offset your winnings you must claim your full winnings on line 21 on IRS form 1040 (2009) and then deduct your losses on IRS form 1040, schedule A. Your losses claimed cannot exceed your total winnings. However to do so you must have accurate back-up records. Again, according to the IRS, these records must include date and type of wager, name and address or location of gambling venue, amount won or lost, and believe it or not, the names of the people with you. Those tickets contain most of this information, which is why they are so important.

Record Keeping for Handicapping Success

Those tickets are important as are the notations you make on your past performance sheets for each race. Utilizing this combined information can lead you to further handicapping success. It enables you to see what type of race (conditions) you handicap the best. With accurate record keeping you can go back and examine what wagering angles you are good at and what you missed in certain types of races. More importantly, you can evaluate your overall handicapping statistics. Great records that help you analyze race-by-race, conditions by conditions, distance-by-distance, trainers and jockeys, and wagering interests (horses) give you a superb review of your strengths and weaknesses in your handicapping. Careful notations of key horse performances help you identify those that are improving which in turn helps you make a great choice next time out.

Great record keeping will lead you to handicapping success and keep the taxman from muddying up your day. Start now. Begin your journey to handicapping success.

Betfair – The Pros and Cons of Lay Betting

When the first betting exchanges were launched in April 2000 it heralded a new dawn in gambling especially in the case of horse racing. The basic concept was that instead of betting with a bookmaker the bet was struck between two punters with the exchanges acting as “go between”.

In the UK punters also had to come to terms with using decimal odds instead of fractions. However, the big change was the fact that for the first time it was possible not only to back a horse to win or be placed but also to lay it to lose. This was a totally new concept and one that has become increasingly popular during the last decade.

It is often pointed out that it is far easier to select a loser than to find a winner. Consider in a fourteen runner race only one horse can win but there will be thirteen losers. So one assumes that a great number of gamblers have made huge sums backing horses to lose. But strangely enough that does not appear to be the case as Betfair report only a very small percentage of its millions of users make more than £15,000 per annum from their betting activities.

The drawback with laying horse to lose is that if your horse does win you will have incurred a liability. For instance if you lay a horse for £10 that is price at 3.0 (2/1) and it wins you have to pay out £20. In the event of the horse had being priced at 11.0 (10/1) you would then have to pay £100. In either case if the selection did lose you would win just £10 (£9.50 after paying Betfair commission). You could of course restrict yourself to laying just short priced horses but they statistically tend to win more often. If you concentrate on higher priced horses they may win less often but when they do your liability is considerably higher. It is also worth noting that for the outsiders the Betfair odds are usually considerably larger than the bookies starting price odds.

On Betfair the prices tend to be around 20% above those offered by the bookmakers. Of course you also have to take into consideration the 5% commission charged by the exchanges. If you are thinking of trying lay betting another point to consider is that you will have to lodge enough money with the exchange to cover any liability that you might incur. For instance if you laid £10 on a horse to lose priced at 11.0 you would have to have at least £100 in your exchange bank to cover the bet in the event of the horse winning.

If you think the risk of possibly losing £100 just to try and make £9.50 then lay betting may not be for you.