BE A GREAT RECORD KEEPER
To be successful you MUST keep meticulous records on a few levels. First, as a handicapper and student of the game, you need records on all your wagers for money management purposes. You need to know where you stand at all times. Depending on your citizenship, you may need to pay taxes on net profits. Next, keep handicapping records and notes on your selections for future play.
BE A STUDENT – KEEP SEARCHING AND LEARNING
Specialize in a certain type of race, become efficient before moving on. Statistics and data are your friends. Subscribe to different databases to further your education and always check for the latest horse racing news and odds. Before having success with a sophisticated computer programs, the general consensus always preached there was “no way to beat the races”. Had I given up learning, I would have never known success.
DON’T EVER LOSE YOUR SHIRT
This is always easier said than done as emotion enters the equation. Don’t bet more than you can afford to lose. Set a budget for each session and if you lose it, stop playing. If you have a losing streak, don’t chase. Come back and live another day. Remember the numbers are working for you…Let them work.
TAKE A STAND – BET AGAINST THE PUBLIC
The logic is simple: Always bet against the public and you will be a winner. There is a reason why Bookmakers are in business, because the wagering public are losers. Become a “Lay Bettor” not a “Backer of winners”. It’s always better to have 8 to 10 horses running for you, than putting your hopes, on one horse and jockey doing everything correctly. It’s scary at first, but with a good system…You move from the losing seat to the front of the class.
IF YOU WANT TO KEEP YOUR MONEY – MANAGE YOUR MONEY
This is without a doubt one of the most important aspects of wagering and possibly the most neglected. Winning at racing is not a sprint, it’s a marathon. If you bet your whole bankroll in one race , you will be more than likely to chase your losses. Chasing bets is a losing proposition almost every time. Spread your bankroll and make identical bets, you are much more likely to make a profit.
DON’T TRY AND GET CUTE – BANK YOUR WINNINGS
Declare a payday when your winnings are 50% of your wagering bank. For Example: Using a 1/50th bankroll and you need a £5,000 bank to start. When your bankroll reaches £7,500, withdraw your £2,500 profit from your bookie. Many things can happen, and there all bad when you keep too much money in your account. Treat your profits as profits, not poker chips in a casino. Take the money and run.
HANDICAP THE SITUATION – NOT THE RACE
This is one thing important fact that separates winners from losers. The general public always looks at the obvious. Remember, horses are never as good as they look winning, and they are never as bad as they look losing. Many times winners or horses than have run a good race exert tremendous energy in that winning performance. They rarely repeat those efforts unless they are high quality stock. Look for horses that are on the improve, ready to run their best.
SAVE THE BOOZE FOR THE CELEBRATION
Stay away from your favourite drug and Alcibiades while your in the heat of battle. If you haven’t heard, alcohol clouds your judgment. Always operate with a clear mind, free from drugs and alcohol. When the day is over, pop the champagne while driving home…Just kidding about the driving part.
THINK OUT OF THE BOX – BE CONTRARIAN
Spontaneous betting is never a good thing. Forget hunches, horoscopes, favorite colors, etc. Be different, most of you friends are losers, bet against them.
BE ON THE LOOKOUT FOR SOMETHING NEW
If you are backing horses, look for trainers who run especially well at this track. Look from trainers bringing in a lone starter from a far way (Could be a reason they made this long trip). Look for equipment changes, either additions or or the removal of pieces that can effect today’s run. When laying horses this is also important, as it can change a consistent loser into a winner. Finally look for horses undergoing the “ultimate equipment change”. That change is when you make a colt a Gelding…you can never change it back.