Money Management Tips for Horse Racing Betting

By Bill Peterson

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While the skill of being able to accurately evaluate each horse's chances of winning is essential to making money betting on horses, the best handicapping in the world is useless if you can't also manage your money well. I often say that good money management will get you through a tough run at the races better than good handicapping will. When you think of wagering on horses as an investment, it only makes sense that how you use your bankroll is crucial to success.

It's the same in any other form of investing, after all, that's all investing really is, moving money around and putting it where it is most likely to earn a favorable return. So here are a few thoughts on using your bankroll the very best you can. If you've been handicapping the horse races and still losing money, you might want to think about improving your money management rather than trying to learn that next horse racing angle.

First of all, the number one reason that most businesses, including horse racing ventures, fail is being under funded. If you are betting with the rent money or making two dollar bets and hoping to make a living, it just isn't going to work. You must be realistic and understand the kind of money the successful professional handicappers spend in order to eke out a living.

If 10% is a good return for a horse player, how much do you need to wager in the course of a year in order to make $100,000? The answer is $1,000,000. That's a staggering sum for most people, but it's true. Of course, if you only wish to make $10,000 then you need only wager $100,000. For most people that figure is out of reach.

The Magic Horse Racing Betting Formula for Profit

By Bill Peterson

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There is no magic formula for picking winners, but there is a method of making a profit from horse racing bets. That may sound contradictory, but it's not, because there is a difference between picking winning horses and picking good bets. The difference between a horse player who looks for winners and a horse player who looks for good bets is the difference between a successful gambler and a gambler.

Regular gamblers take some comfort in being right and sometimes they even take comfort in commiserating with other losing gamblers. Winning gamblers take comfort in making a profit and usually keep their ROI and other secrets to themselves. You'll hear a lot of horse players complaining about how hard it is to make a profit or about the losing streak they're on, but you'll rarely if ever hear one talking about his positive return or method of picking those good bets.

Let's be clear on what a good bet is before we talk about the magic formula for determining that bet. A good wager is one that will show a positive return over the course of a season or a meet. That means that is you make the same bet under the same circumstances at the same track, it will pay you back all the money that you bet plus a profit.

I realize how difficult it is to find such bets, so please don't think I'm being glib. Making money wagering on horse races is one of the toughest things most of us will ever tackle. It requires certain skills, such as good math skills and the ability to keep accurate notes, whether by using a good computer program of just keeping hard copies that you jot down. Fortunately, a lot of the record keeping is now done by the major suppliers of past performances.

Finding Good Bets With Horse Racing Jockey Changes That Lead to Winners

By Bill Peterson

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Following a horse through its career is one way to cash winning tickets. Very few handicappers actually do this, but it is a solid way to make money betting on horses. Of course, you have to have some knowledge of training and horse racing to be successful. If you understand what a trainer is doing with a horse then you will understand that some races are for exercise and conditioning while other races are meant for a real serious effort to win.

The problem with that method of making money betting on horses is that you have to follow quite a few horses in order to make any real money. You may have to wait weeks between races and that can get tedious, especially if the horse is in races where it can't win.

That's why more handicappers follow trainers or jockeys. Most good jockeys race almost every day, making for a lot of action. Learning the strengths and weaknesses of a few good jockeys and then following them can lead to some very good bets. I like to check to see when a good rider is on a horse that he has won with in the past. That's a big advantage.

When a trainer claims a horse and his regular rider happens to be a jockey who has won with that one before, that can often signal a good ride and a finish in the money if not in the winners circle. Some of the leading suppliers of past performances now supply that information which shows whether the trainer has won with the horse and also whether the jockey has won with it in the past.

Most of the opportunities for good bets will come in the claiming races, if you decide to use this method of finding winners. Start by noting all the horses that have been claimed in their last few races. Then note who was riding it before it was claimed and whether the jockey who is on it today has won with it before. Note the same for the trainer.