subject: Simple Betting Secrets for Horse Racing Profits [print this page] Simple Betting Secrets for Horse Racing Profits
Trying to make money betting on horse races is tough as you probably already learned if you're reading this. First and foremost, there's the vig, the amount of money the track takes out to pay the state its taxes and make their overhead and profit. Then there's the cost of good past performances and any other information you need to make your decisions.
As if that wasn't bad enough, try going to a real horse track and not spending any money on admission, seating, parking, or what have you. Some tracks are trying to keep costs down, but it can still be expensive and you'd better pack a lunch, too, because buying food at the track can really add up if you go often.
Here are a few simple secrets or ideas you can use to save money and therefore, hopefully, add to your bottom line.
1. Shop around for the best track to play based on takeout figures and breakout. Remember that vig I just mentioned? Well it isn't the same at all tracks. Some tracks charge much less than others for win bets and exotics. While we're on the subject, unless you're really attached to those exotic bets and make a good profit on them, stick with win bets. Overall, at almost all tracks, win bets have the smallest takeout and biggest chance of making you money.
If you're really concerned about takeout, and have access to an otb or track that offers simulcasting, think states. Each state has a different takeout figure and you can find them online or by asking the race track management. So secret number one is that all tracks and bets are not created equally.
2. Set limits. Did you know that a survey of casino patrons found that most of them were ahead at some point during their visit to a casino and yet, by the time they left, most were behind? I never did a survey but I'll bet the same is often true of horse players. I know it is easier said than done to know when to quit, but if you set a win limit as well as a loss limit, you may just start putting together a string of winning days.
Money management is the single biggest factor in success at gambling whether it is at a race track or in a casino, and yet, that is the one thing most gamblers have the most trouble with.
While we're on the subject of money management, let's talk about record keeping. It doesn't have to be too complicated or time consuming, but if you don't write down what your bets were and why you made them, how do you ever expect to make a profit? What other financial endeavor would you engage in without keeping track of the money?
I know these sound like really simple things, but simple secrets like these will make you a winning horse player much faster than a complicated system, though a good horse racing system is also a must.
