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.

Overcoming the Vig is the Secret to Making Money on Horse Racing Bets

The vig, short for vigorish, is the amount of money taken out of the pools at the track before the winners are paid. For instance, if the bettors wager a total of $10,000 to win in a race, there is a total of $10,000 in the win pool. However, when the race is over and the winners are paid, $10,000 isn’t the amount that gets distributed amongst the winners. It is far less because the track has to take out a certain amount that is determined by the state. That’s the vig.

Part of the money that is taken out is paid to the state and the rest is the track’s share. So let’s say that the vig is 18% and there is $10,000 in the pool. After the race you would expect $8,200 to be distributed among the winners, right? Sorry, it’s not that easy. You see, there is also breakage. What get’s broken and how come you have to pay for it? Why doesn’t the clumsy oaf who dropped it or sat on it and broke it pay for it?

No, no, breakage doesn’t mean something actually got broke, it means that race tracks pay out in nickels and dimes, not pennies, so they get to round a bet down to the nearest nickel or dime. For instance, if a bet would normally pay $6.55, the race track gets to keep the nickel and you get $6.50. Talk about being nickel and dimed!

That breakage may not seem like much, but if you bet $100 and would receive $4.05 for every two dollars bet, but instead receive $4.00, you’ve just donated $2.50 to the track so their tellers don’t have to deal with handling pennies. That’s another 2.5% out of your winnings, too. That $2.50 can really add up after a while, especially if you are trying to make a living by betting on the horse races.

As if overcoming the vig isn’t bad enough, there are other expenses involved in horse racing wagering. On the last day of January I decided to go the horse races. I wasn’t interested in the races at Santa Anita, so I decided to play the simulcasts from Golden Gate Fields. I figured I’d go to Hollywood Park since they didn’t have live racing there and it figured to be much less crowded.

However, what I didn’t take into account was the fact that it was dollar day at Santa Anita so I could have gotten in for $1. When I got to Hollywood, they charged me $7 just for the privilege of going in and watching and wagering on simulcast races. Seven bucks right off the top before I even made a bet or bought a hot dog.

It is at times like these that I ask myself why I don’t just go gamble in a casino where I can park and enter for free and also get a free meal after I’ve gambled for a few hours. $7 to bet on simulcast races? Then they have the nerve to complain because attendance at the races is declining. Gee I can’t figure out why, can you? The last time I went to Santa Anita, I had to pay to park, pay to get in, pay for a racing form. By the time I was done I had invested a small fortune and hadn’t even made a bet.

With all the ways there are to gamble or be entertained now, you would think the tracks would get a clue and start to help us horse players out. As money gets tighter, and it is, the tracks are really going to have to start being creative. Horse players can sit in their own homes now and play the races over the internet. While some of those services do charge you to deposit money, another sore subject with me, at least you are at home and not paying to get into a race track that isn’t even offering live racing.

Well enough of the ranting and raving, I think you get the idea and I hope the race tracks do, too. I’d hate to see racing fade any more than it already has but if it does, it will be because management dove it into the ground. They have a thrilling, live drama, that people can bet on and take part in as gamblers. It is a great product but they can ruin it if they don’t start trying to offer more to the players.

Back to the vig. My expenses for the day were the gas I put in my car to get to the track, the $7 I paid for the privilege of entering the track, the past performances I bought so I could handicap the races, the food I bought while I was at the track. By the time I was done, my expenses were $20. Add that to the breakage and vig and you can see that I would have to make some very good bets that paid well in order to make a profit that made a day of handicapping and travel worthwhile.

That is what you are up against if you are trying to make a profit from betting on horse races, so here is some advice. Cut your costs as much as you possibly can. Get the deals online for past performances. Place your wagers through whatever venue is legally available to you and watch all those incidental expenses that eat away your profit.

It is possible to make money from betting on horse races, but there will always be people who are trying to take as much of it away from you as they possibly can and the first ones standing in that line are the tracks themselves.

Enjoy your days at the races.

Cooper’s Law – 14 Easy to Follow Rules to Make Money From Horse Racing

Betting on tri-casts seems an improbable means to punting profit, but professional backer Paul Cooper used it to win nearly £400,000 on a series of bets at Thirsk.

Cooper was one of the first to capitalize on the fact that horses drawn high seemed to have a pronounced advantage over the straight sprint course at Thirsk. There are a number of tracks around the country where, in soft ground, a particular draw can prove an enormous asset, but at Thirsk the same was true on fast going. It appears that the inadequacies of the course watering system left a strip of ground under the stand rails ‘un-sprinkled’ which was significantly faster than the rest of the track. By betting the five or six highest draw numbers – those most likely to grab the favoured ground – Cooper was able to pull off a series of major coups.

‘I was hooked on betting at a very young age,’ admits Cooper. ‘But even then I knew that you had to be in control of it – otherwise it would control you.’

During the 1970’s, the ITV Seven was introduced. It immediately caught Cooper’s eye. ‘One of my first wagers was a £1.90 bet which won over £800. I was in business! A couple of years later, I collected £13,365 on a £3 accumulator and I was really on my way.’ Cooper is still fascinated by multiple bets – the prospect of huge returns for a small outlay – and believes serious punters should not treat them in such a cavalier fashion.

‘The Lucky 15 is a value bet.- it is a Yankee that also has four win singles, and the different bookies offer a variety of bonuses and consolations. For instance, if only one of your selections wins, you may get double the odds. So just one 7/1 winner virtually guarantees your money back.’

Cooper’s penchant for what Barney Curley calls ‘miracle bets’ is not his only apparent similarity with the man in the street. Like all betting shop regulars, he is irresistibly drawn to competitive handicaps where they bet 6/1 the field – but he hits the target far more often.

Cooper insists that studying trainers is the key to his whole business operation. The fact that, as an owner, he has chosen to have horses trained by Barry Hills, Jimmy Fitzgerald and Robert Williams gives a clue to the men he most respects in the game.’ ‘There are certainly some trainers I much prefer to back,’ he says. ‘What I really look for is someone who is perhaps underestimated and as a result their horses start at bigger prices than they should do.’

So what can we learn from the fastidious, immaculately turned-out Mr Cooper? Well, here are his 7 great Do’s and Don’ts, known as “Cooper’s Law!”

Cooper’s Law – Dos

1: Do stay cool, calm and collected when making a selection, and don’t go in head down. Weigh up all the possibilities and then have the nerve to go through with it.

2: Do bet only when you are getting good value and shop around for the best early prices.

3: Do back horses that have winning form. Shy away from maidens – the form is unpredictable and unproven.

4: Do bet in sprints. The form is often more reliable than in longer distance flat races.

5: Do find a small, competent yard to follow; because it isn’t fashionable, you’ll almost certainly get a value price on their horses.

6: Do look at horses in the paddock, especially in the spring and autumn. You can usually discard quite a few which are obviously not ready or are showing all the signs of a hard season.

7: Do bet within your means. Reduce your stakes when having a bad run – and increase them when things are going well.

Cooper’s Law – Avoid

1: Don’t get drunk or mix alcohol with betting. You need your wits about you to pick winners and to deal objectively with losing.

2: Don’t back short-priced favorites. The returns simply isn’t good enough, and let’s face it, they often get turned over anyway.

3: Don’t chase your losses. There’s always another day.

4: Don’t bet heavily when there’s been a sudden change in the going.

5: Don’t back out of form trainers or stables or jockeys carrying overweight.

6: Don’t back heavily at Chester. The tight track is a law unto itself.

7: Don’t bet in races over 18 runners. This is when the horses will split into two or more groups, effectively making it two or three different races.

The Capitalization of Dead Money

Pretend you’re sitting in a 10 handed $5/$10 NL cash game and you raise to $40 from early position with pocket 6s. The action folds to the big blind, who defends and calls your raise. The flop turns over Qs5d3h. Your opponent checks to you and you’re looking at a pot of 85 dollars. Should you bet? Why? What would you be trying to accomplish if you bet? You most likely wouldn’t want your flop bet to get called because you know your opponent either would be likely beating you or at least live (has some number of outs to beat you). Also, if we know our hypothetical opponent in this example would never fold pocket 7s or better, then you wouldn’t be looking to bluff him out of the pot with your flop bet. However, there is 85 dollars sitting dead in the middle of the table. You could win it just by betting.

This may sound like a value bet but there is one main difference. A value bet is generally a bet that you want your opponent to call with a hand worse than yours. You clearly would rather not be called here because you would have no clue if you were actually ahead in the hand or not. You definitely wouldn’t want to get check-raised because pocket 6s cannot stand much resistance on a Qs5d3h board. When you bet with a hand that is probably winning but overall fairly weak, you’re generally hoping your opponent will fold and you can pick up the pot immediately. The primary reason for your bet is not value; it’s strictly to win the pot. This concept is called the capitalization of dead money. If your bet makes your opponent(s) fold, whether or not you had the best hand, and you win, you just capitalized on the dead money that was sitting in the pot.