"Professional Race Betting - Now!" as a PDF file
* Professional Race Betting - Now! *
How To Set Up And Run
A Profitable Race Betting Business
This report is for those who are determined to make a good
income from betting
on thoroughbred horse racing.
Pursue Your Dream!
Right now, for the first time in history,
betting the races as a perfect home based business - is within your reach.
Read on to find out why, and find out how you can get your slice of the
horse racing pie.
Becoming successful at betting the races can provide you with a great
lifestyle . . .
You are your own boss. Work your own hours and days. Bet from your home
- wagering by phone or online. Play at your local satellite simulcast
wagering center, or at the track itself.
- You can bet and play from anywhere. Live in the
outback of Australia or a penthouse in New York City. Twenty-first century
handicapping combines a computer and Internet access to allow a freedom
- You never need to worry about lay-offs, cut-backs, or
downsizing. Professional handicappers are recession-proof. Horse
racing even carried on right through the Great Depression! Physical
abilities or age have little or nothing to do with it. The infirm or
house-bound can handicap and bet on horse
races - no problem.
In a nutshell: Live where you like, work when you
want, and make money doing something that is always new and exciting!
The future is uncertain.
There are increasing
signs of an economic slowdown in the u.s. - possibly another recession. An
alternative source of income, especially one that can be gained from your
own home, is highly desirable. It could protect you and your family in the
months and years to come.
We suggest a home-based office for your business
You might love going out to the track - we
still go on occasion ourselves, it's exciting, but there are many
draw-backs. Here's a quick look at some of those when compared to a
It is often a long drive requiring precious
time - and fuel costs are high and getting higher.
Running your business from home saves a lot of time -
- Driving can
put you on 'tilt' - a near collision, other
foolish drivers, slow moving traffic, worrying about getting to the first
race on time - etc. etc. These can completely upset your racing day. What if
it's snowing, icy roads, or a downpour? A home based betting operation is far more convenient
and much less stressful
- Got 30 or 40 minutes between bettable races? That's
usually just time wasted at the track or satellite center. At home you have options - lie dawn and rest for a
few minutes, get some other work done, make a sandwich, putter around
the yard - etc.
- Your choice of tracks is limited. Some venues simulcast
only a handful of tracks, and few, if any, offer all tracks running that day.
Phone or on-line betting from home opens up the full
spectrum of tracks available every day. This is a huge advantage ( more
on this later ).
- You don't have to subject yourself to the circus-like
atmosphere of the track or satellite wagering center. Distractions are a
real enemy of the serious bettor. Screaming fans, crying babies,
blaring loudspeakers, people asking your opinion and volunteering theirs,
lines to stand in, etc. etc. You must establish a business setting and at all
times maintain a business-like approach. For many this is only possible
from a home or an office.
in this report can, of course, be used at the track or satellite center for those of you
who can't manage to get a home office set up.
These are the sections of this report:
Section I - "Horse Racing's New Reality"
- multi-track wagering
- volume is the key to "new reality" race playing
Section 2 - "Setting Up Your Race Betting Business"
- a proposed routine
- a word on taxes
- services and software you may need
Section 3 - "Setting Goals"
- initializing and imprinting your "success mode"
Section 4 - "Betting Philosophy"
- the three subtle dynamics of race betting explained
Section 5- - "Bankroll Management"
- size matters!
- the "portfolio" approach
- an initial plan
Section 6 - "Expectations and Projections"
- comparison to other business start-ups
- profit projection tables
Section 7 - "Contact Information"
- all the links you'll need
Section 8 - "A Final Word"
Let's get into it . . .
Section I - "Horse Racing's New Reality"
Volume betting opportunities - online betting from home -
real-time odds on the computer - these and a host of other innovations
in recent years have created a whole new, more profitable ballgame.
Even just ten or twelve years ago it was extremely difficult
to make a living betting on horse racing. There were few off-track wagering
centers, and satellite feeds from multiple race tracks was in its infancy.
The bettor was usually limited to wagering on one track. Bets of $20 or $30
a race with only 4 or 5 playable races per day - even at a good 25% ROI
would only gross $20 to $40 a day before expenses! Hardly worth the effort.
Horse racing information was limited. Computers were just
coming into their own as far as application to handicapping was concerned.
Making a living betting on horse racing was just a tough way to go.
In the past few years, the horse racing scene has
- Satellite wagering centers now offer a minimum of 6-8
tracks per day.
- The player can bet all tracks from home by phone or
- In home cable-televised racing is readily available.
- Real-time live odds are offered by several providers.
- There are real-time video feeds from a growing number of
tracks and services.
- Tons of racing info of every type is available for instant
- New wager types abound - including the 10-cent
- And the beat goes on. It's a fascinating and wild new
horse racing reality.
Multi-track wagering is here to stay. Volume is
now the key.
The serious race player can "cherry-pick." He can
limit bets to situations that present a real edge and still get a sufficient
number of wagers.
As discussed in other sections, volume betting is now the
crux of the professional race player's approach. The edge can be small and
the bet amounts can also be fairly small, yet the volume of wagers will
compensate, and the
'churning' of the bankroll will make it possible to bring in a good income.
The hours of play are now unrestricted. Horse racing runs
day and night with feeds from Japan and Australia. The modern player is
limited only by the amount of his own time and energy.
If volume is the key - betting strategy is still the
lock that prevents so many good handicappers from entering the gilded room
reserved for real professionals.
But - what others have done - you
too can do.
Some horse racing fans just love the grand spectacle and
excitement of it all. For them, making enough money to pay for the
day's expenses is a major score! Okay, and good for them - they don't aspire to
make a lot of money, and they won't.
Other handicappers really like the delving in depth into
each race - trying to figure out and fathom every little nuance. They spend
hours handicapping one card. They may be very good at what they're
doing, yet they also won't make any real money betting on horse racing.
These analytical types usually know little about betting strategy. All their
time is spent finding the best horse - i.e. trying to "pick" winners.
In 2lst century horse racing's new reality, the
of time- intensive handicapping is lost volume - and lost volume equals
But therein lies the problem.
How much time does it take to handicap a horse race? Let's
conservatively estimate l2 minutes to give a race a decent going-over (more
likely l5 min). Multiply that times 9 races on an average card - I2 min. x 9
races = 108min or 1.8 hrs.
Now multiply that times 5 tracks = 9 hrs. Nine hours
just handicapping the horse races?! When do you bet? Or - if you do
your handicapping at night and bet those five tracks between 10:30 a.m. and
5:30 p.m. - when do you sleep?
It's just not feasible - if even possible. And be sure, the
race player trying it would soon be completely "burned out."
Again, the modern race player who uses volume betting
into positive edge situations as his way to professional status can no
longer afford time-intensive handicapping procedures.
The astute player will endeavor to find a "quick scan" approach that gets handicapping time
down to 5 min. per race or less (and still holds a positive expectancy!),
and then learn how to optimize his wagering.
Purchasing Quality Information
The trick, of course, is finding valid and profitable
at a fair price. Touts and system sellers abound, and
shylocks and charlatans.
Others, who actually are experts (though this
doesn't necessarily translate into "profitable"), can charge $10 -
$20 a track for info with no guaranteed return on investment. Using
those figures - $15 x 5 tracks per day: $75 a day x 5days = $375 per week x 4
= $1500 a month!!
We would estimate that 90% of all race players would be
happy to make $1500 a month at race betting . . .
. . . my gosh, if the player has to pay that just for the
information - !?!
We've tested several services over the years, including some of the "big
name" sites. Most are outright bottom-line losers. A few show meager profits
on a grind-it-out primarily favorite oriented approach.
Then there are the sellers of handicapping methods,
systems, and software . . .
A few of these are real experts, and their materials
are very good. Most are liars.
The serious player will opt for educating
themselves, and discovering viable handicapping betting and
handicapping methods that will stand the test of time and still be
profitable in the long-term.
To sum up what's been discussed in this section:
Even a small edge/advantage can be enough to make big
To turn a small edge into large profits requires volume
The volume opportunities exist via multi-track wagering
But handicapping multiple tracks daily is an extremely
time-intensive "burn out" scenario.
This time and energy must be reserved for the crucial
aspect of betting and money managing.
You need to find a "quick scan" handicapping method that
is actually profitable.
If you are still keen on participating in horse racing's
wild new profitable reality - read on through the other sections in
this e-book. An alternative income as a professional race player awaits you.
Section 2 - "Setting Up Your Race Betting Business"
Get organized -
Efficiency is a must. As with any
business, much of your time will be consumed by the necessities of running
your home-based race betting business. You'll need a life outside of racing
- but unless you're careful, you might find fewer and fewer hours to give to
family and friends.
Have a set routine and follow it.
Don't waste time. If you have a break between races (which is not that
common when playing 4-5 tracks a day) use it to work on other tasks
relevant to your business, or take a needed break to "recharge."
As stated elsewhere in this e-book, it's
close to impossible to do "in-depth" handicapping on enough tracks to get
the bet volume needed to make this a real business.
We feel the professional race player needs to get around
10 - l5 solid wagers a day.
Remember the time projection numbers from the
"New Reality" section?
According to the time zone you live in and
the time zones of the tracks your betting - your "live action" work day will be from
around 10:00 a.m. to 5:30 p.m. - give or take.
You'll need to be up and running, i.e. have
all races and tracks for that day sorted out and entered on your betting
forms, be connected to two on-line tote boards, have whatever visual feeds
you need ready, etc. - and all this at least l5 min. before start of the
The LAST thing you want - believe us - is to
be trying to handicap in the middle of your race day. Your complete
concentration and full energy must be directed towards wagering, and
It's your livelihood - no shortcuts here!
Lack of concentration, distraction - any lapse, can and will
cost you money. When you lose money because of a silly mistake, you
get down on yourself and emotionally upset. You'll then make more errors -
It's an inevitable compounding of the negative that we've
dubbed: "The Black Snowball Effect."
Once set in motion, the problems and errors just keep
getting and bigger, and your emotions just keep getting darker.
Practicality Goal #1 is to keep wagering errors to
the bare minimum possible. There's no such thing as error-free play, but
strive for it anyway.
Getting shut out will happen, an occasional miscalling of a
horse's number, computer glitches, misplaced betting forms or handicapping
info - these things will happen. To keep them to a minimum requires your
full, undivided attention during the betting day.
Okay - so, when do you handicap?
After the races? You'll need at least 30 min. to update your
records and "books" after the betting day is over, and we estimated in an
earlier section that it would take even a sharp, fast handicapper around 4-5 hrs. to 'cap five race cards - that would be 45-50 races per day to
Your nice 7.5 to 8 hr day has just become a 14 hr. day - can
you say "burn out"?!
Burnout is always just around the corner in this business.
Stress is a very real problem when you're stepping up to the plate and
risking your money 12-15 times every day. Then you need to spend 4-5 hrs.
handicapping after a stressful day? Your handicapping will suffer - then the
next day's increased number of losses will cause more stress and worry . . .
Remember the "Black Snowball"?
You already know our recommendation - get yourself solid
and viable handicapping and betting methods from a reputable company
that cut your handicapping time drastically.
A Proposed Routine For Those Who Are
This should be modified by you in any way
that better fits your situation (those wagering at the track or satellite
center, etc.) while still maintaining the spirit of total commitment.
- Up at 7:00 a.m. - at the latest. Do
whatever you do to wake up - brew some coffee, take a shower, whatever.
- Now go over the previous day's wagers with
a critical eye. What errors did you make? What were your strengths and
weaknesses? Spend maybe 30 min. here - make notes to yourself - try to
improve - find areas where time could be saved, etc..
- Then, get at least 30 min' of exercise - 45
min. would be better. Include some deep-breathing to get the brain
- Have a light breakfast.
You're at around 9:00 a.m. now - you have an
hour or so to ready yourself for today's campaign.
- Use 10-15 min. to do some visualization.
Countless studies have shown the benefit of this. Don't pooh-pooh it -
just do it!
Visualize yourself going through your betting
day without a flaw or hitch. "See" yourself hitting winner after winner.
Visualize calmly raising your betting amounts and continuing to hit good
winners. See your end-of-day bankroll up 20% higher than projections.
See yourself entering that figure in your accounting books. Visualize
having quality time with your family or friends afterwards. See
yourself going to bed tonight - happy, confident, and secure.
The highest truth is that we create our
own everyday realities.
Now take 15 min. to go over your written
goals - both long-term and short. These goals should be all inclusive:
daily, weekly, monthly, quarterly, yearly, 5 year and 10 year. They should
also cover all aspects of your life: spirituality, health, education,
business, family, retirement, etc..
When your betting day has begun, take 5 min. every hour or
so to get up and stretch - walk briskly, do a few "jumping-jacks" or some
push-ups - deep breathing - get outside - RECHARGE!
This is especially important if you've just committed a
foolish error or taken a bad beat that has upset you. Get over it - you're a
pro. Recharge and reload - there's another opportunity coming up right away!
Speaking of maintaining calm and keeping energy levels high,
here are a few suggestions:
1. Have a small fountain in your home office - very soothing
without being distracting.
2. Use full-spectrum light bulbs in your
3. Keep the window open - even in winter, at
least a crack.
4. Once or twice during the day have some:
coffee, fresh juice, bee pollen, ginseng tea. Use these stimulants in
moderation to maintain alertness throughout the day.
5. If you are the type that can take cat-naps
and you have a 30 or 40 min. break between races - go
Start slow (see the "goal-setting"
section) then after you've organized your schedule and feel comfortable
with a business that is running smoothly with few surprises - you'll be
ready to kick up the volume.
Apply a good money-management plan. Aim
for slow and steady growth of the betting bankroll - and reap the rewards
of a successful thoroughbred wagering business.
Services and Software You Will, or May Need
You'll need access to real-time tote boards for each track
you are playing. There are several - and more coming online all the time.
Always have two browser windows open on your computer. Put a
different tote board in each. Use the tote you feel most
comfortable with - minimize the other window and have it as a backup.
Many times services just go down - or stop reporting one of the tracks in
the middle of the racing day. Who knows why? They lose their
signal or whatever, but you'll have the other one ready to call up and
miss a beat.
If you insist on spending 4-5 hours everyday handicapping,
you'll need a good computer program to crunch the numbers. To do everything
by hand is tough unless you have a true 'quick-cap' method.
The possibility of human error,
mathematical or otherwise, is great and ever-present.
There are several good pieces of handicapping software out
there, most have long learning curves (no matter what the authors would have
You'll need a betting outlet. There are scores of
them now, and the list is growing.
Optimal is to have two phone/online bet accounts set up and active. Redundancy is
the best insurance. Always have a back-up for every aspect of your business.
An online account allows you to place your bet online using your computer. A
few of the phone-bet companies also offer automatic input from your phone by
keying bets into the phone pad.
With two accounts set up you assure yourself of timely access to placing your
wagers. As with betting at the track, the closer to post time you can place
your wager the better. Being shut out and missing a good winner can be one
of the most emotionally upsetting things that can happen in your betting
day. Two accounts can help avoid this.
You may wish to have satellite television feeds into your
home as well. Only - make sure you aren't the type who gets all wound
up, and emotionally upset over losses. If you like to blame jockeys for
"stiffing" your horses, you might be better off without it. Video
taping the races is another possibility that can add a "trip" handicapping
element to your approach (but this can be very subjective at best and
downright confusing at worst).
But - it is nice to be able to "see 'em run." There
are a couple of companies at present: TVG and Horse Racing TV -
also offers live video
(2 races at once available) from all the tracks it has
signals for. Some other services, and many of the tracks provide live video and/or audio to
your computer as well.
A Word On Taxes
Here are a few "blurbs" on the tax ramifications of your
race betting business - with the AVISO that we are not tax accountants
- consult one of your own if you have questions. These are just "for
your information" tidbits - please do not consider us expert in this area or
make any decisions based on this information.
- In general, if you're winning and actually reporting all
your gambling activities to the IRS - you'll end up paying taxes on them.
- Gambling losses are deductible only up to the amount of
gambling winnings reported.
- Big wins - anytime the gain is 300 times or greater the amount bet -
you are taxed on the spot at an approximate 28% clip. But -
the gambler is liable and required to report all winnings over $5000 in any
year. It doesn't matter if these winnings accrued in a $20 here, $65
there manner - legally they must still be reported.
- Many players buy separate tickets on anything that might
put them into a taxable payoff situation, but the IRS has that covered too
(you don't think they would miss any chance to glom onto your money do
you?!). There is a rule that states that all separate wagers on a single
event are still considered as one wager for tax purposes.
- In order to take tax deductions at all, you must file an
itemized form. You can't do the "E-2" form and take the standard deduction -
and also claim gambling losses.
- Substantiation of losses is critical. The IRS may require
"multiple proofs" of all losses. Good record keeping is a must. Record
everything: dates, tracks, race numbers, amounts bet, results, location and
address of establishment where you placed the wagers, names of anyone
present on that occasion, etc..
If you keep the kind of records for your race betting
business as you would any other business - that is full, complete, accurate"
organized and with verification - there should be no problem.
Section 3 - "Setting Goals"
Setting goals is extremely important to your success -
don't overlook this!
Set your initial goals somewhat lower than you hope and
It is very important to
meet and exceed the original goal level. It sets the right tone.
It begins right off to instill a "success" mode in your psyche.
Consistent, small successes are key at the
beginning. Don't rush it - don't press too hard - it will come.
Write your goals down on paper, and keep these in a notebook exclusively for
Here is a plan - we strongly suggest you
follow it fairly closely . . .
Play no more than three tracks for the first two weeks.
Play no more than $20 per race during that time.
Allow for a 20% error factor in your projections
Here is a suggested
goal first two weeks run:
5 days x 3 tracks x 4.5 races per track per
day x $20 wagers per race x 8% ROI
5x3 = 15 / 15x4.5 = 67.5 / 67.5 x $20 =
$1350 x 8% = $108
$108 profit per week - for two weeks in a row - that
would be a good, conservative and do-able goal.
Remember - Your purpose in this initial period is to meet, or
exceed your projections.
This is not yet your business. You aren't trying to
make a lot of money here - you're getting a "feel" - you're initializing
your success mode - you're "imprinting" the reality of setting and meeting
Don't want to bet $20 a race? No problem - bet $10 and just
cut the above figures in half.
Can't play 5 days a week yet? No problem - just plug, say, 3
days into the formula above, or multiply the final figure by .6 etc.
If you cut down the number of days per week you must go for
a longer number of weeks to make it a true test - keep it at 10 racing days
- two full racing weeks (if you don't meet your goal - extend the test
period another week)
You will meet that projection - and when you do you
will immediately set a new two week goal.
Always be your own best critic and mentor. Ask, "What were
my strong and weak points during those last two weeks of betting?" The
answers will help you set realistic goals for the next two week period.
- Let's say that keeping control of three tracks
simultaneous wagering was tough - then don't change that aspect yet - don't
increase the goal for this factor - don't add pressure!
- On the other hand - let's say that you usually wager more
than $20 a race and that seemed kind of light for you during the initial
test - okay that would be where you could "bump up" the new goals.
- Conversely - if you don't like betting that much per race
- don't push it yet.
- Or maybe you weren't bothered at all playing three tracks
For one kind of player, the new goal for the next two week
period would be: Play the same number of tracks but raise betting level to
New projection/goal: 5 x 3 x 4.5 x $30 x.08 = $162
For a different player - You could lower bet levels to $15
per race - but increase # of tracks played to 4.
New projection/goal: 5 x 4 x 4.5 x $15 x.08 = $108 This is the same bottom line as the original goal for the first two weeks
- but you've progressed - you're now handling 4 tracks, you've made some
money, so next week raise the bets and/or # of tracks played (again).
Like this, you can stair-step your goals to the desired
income level (see profit projection tables in the "Expectations" Section)
(Also, for a "pro plan" starting from scratch - see the "Money Matters"
If, after the initial two-weeks, a goal is easily met - you
can set slightly higher goals for the next week. That is, your goals can
step up weekly - but only if:
- You aren't trying too hard or going too fast
There shouldn't be any hurry here - you're trying to build
a Iasting foundation.
- You don't feel undo pressure
Pressure causes nervousness which can cause mistakes which
can lead to fear of losing - which causes more pressure, mistakes, and
- You aren't just trying to make the "big scores"
Money that comes fast and easy tends to dissipate in the
same way. If you're truly serious, consistent play and consistent profits
are all you should care about. There's an old saying, "Do what you love
and do it well - the money will come."
- You aren't playing in a fantasy world
Like horses, a race bettor's extraordinary performance
isn't often repeated time after time. Just because you catch a couple of
outstanding days or weeks - don't get overly
confident. Don't cater to or give in to your own emotional highs - or
lows. Remember, winning flows in cycles - you're after consistent
play and consistent profits first - and always.
In order to achieve the confidence and consistency required
for professional level play, we feel the player should have a well defined
philosophy to guide his race betting business. See ours in the next
And a p.s. - the 8% ROI in the above figures .
. . that also is a beginning goal. It will rise (if you have and are
using good handicapping and money-management methods). Double that
should be an early goal.
Section 4 - "Betting Philosophy"
Successful race betting requires day-in / day-out
consistency and efficiency.
However, "consistent" does not imply that the betting never
The one obvious and over-riding truth of horse racing is
that it is always changing. . .
. . . race to race - day to day - track to track - meeting
to meeting - year to year.
If you aspire to make serious money by betting on the
thoroughbreds, you must come to grips with this "slipperiness," this
variable nature of a game that lures you into the "now you've got me" -
then, out of nowhere, unloads a heavy dose of "now you don't!"
A stagnant approach will never work.
A method that worked great for a month, or a
meeting will suddenly be a bust - why? Race players are forever wondering why, after doing so well
for a period of time, the same approach can't seem to buy a winner.
At Horse Racing Gold, we have developed a philosophy
and an approach that deals beautifully with the three subtle dynamics of
race betting . . .
To start, let's think of these three dynamics in
their simplest, most universal form - the past / the present / and
the future. Every action in life is always an interplay between these
three - that, taken together, form a 4th dimension: TIME.
Past events cast their shadow into the present. We
can either ignore past lessons, or learn from them, but they will have an
influence - for good or bad.
The Present is paramount. It is all there ever
really is - the only true reality is the one that's presenting itself to us
at every new moment. This is undeniable.
Yet, the Future awaits - inexorable, slightly ominous
and mysterious. It will demand to be dealt with!
Okay, let's take it down a notch, and make it relevant to
betting on the races . . .
- The past is your own wagering history. Every bet
you've ever made has added to that history. If all were accurately compiled
and collated, you would have a precise and authentic account from which to
draw and learn.
We call this the "Missing Link Factor."
- The present boiled down to its essential truth for
the race player - is the tote board reality at the moment of betting. How do
you react to what you see? Can you recognize value? Can you recognize
emotional folly, and judgmental error on the part of your opponent - the
We use "Contrarian Value Positioning" to determine
when to pull the trigger and how hard.
- The future of your race betting will move in cycles
- this is a given. You will have winning and losing streaks - period.
They are there waiting for you, but you will never know when they will begin,
or end. How do you deal with them?
We use what we call "Structured Flow" bankroll
Anyone still scratching their head?
Okay - because success as a race player demands absolute
understanding of these points - here's an even plainer third version with a
few comments to follow:
To know who to bet - you handicap the horses. To know how to
bet you've got to handicap yourself.
The pari-mutuel system and human nature combine to produce one unbending
rule: You must (most often) go against the crowd.
The rate of growth or decline of your bankroll depends on - How you
handle streaks (both winning and losing) in your bankroll management plan.
Race players fail - 95% of them - because they do not
realize the extreme importance of these points. This is precisely where they
are weak . . .
They do not include themselves into
the handicapping mix - they are either unaware of this invaluable
"Missing Link" - or are too lazy, or busy to take the time required to
incorporate it into their race betting approach.
They are unwilling to shun
favorites, that is - to pass races where favorites are legitimate,
and bet against them in races where they aren't. They remain unaware of the
power of "Contrarian Value Positioning."
They do not know how to deal with
streaks - their betting plan does not systematically press up
their wagers when win streaking, and also just as systematically lower them to cut
losses when loss streaking - "Structured Flow" wagering is unknown to
If you are serious about succeeding in this business, you
must set yourself apart from the run-of-the-mill average player. To get
an edge in this game, you need something others don't have - in fact you
need several things others don't have . . .
1. You need a unique point-of-view. You need to be "on"
certain horses for different reasons than others are looking at - this will
help keep you "off" the over-bet horses.
2. You need a well thought out betting strategy. This is
simply too much for the average player - they never do the kind of research
needed to even begin to develop a full-blown strategy.
3. You need consistency and confidence. Again - as rare as
hen's teeth out there. Emotions reign: Flip- flopping and zig-zagging are
the norm - utter confusion, blame, and self-pity are the most commonly
observable traits at any race track.
Get an edge - even a slight one - develop the attitude you
need to succeed, and you can achieve what others think is impossible.
Take the next step . . .
Pursue Your Dream!
In order to gain the advantage you need to
succeed (and even succeed wildly!) in this game - take a look at the
materials we offer - here
Section 5- - "Bankroll Management"
How much do you need to start? Where
your bankroll is concerned - size matters!
A conservative suggestion is to
start with an active
bankroll that is 50 times larger than your average per race wager amount.
Say you want to start with an average per
race wager of $20 - you'd need $1000 in your active bankroll. These are
completely liquid funds - immediately accessible. If you are a $50 per race
bettor, you'd need $2500.
You should have a back-up bankroll of at
least 50% of the active bank.
$500 and $1250 in the above examples . This
money doesn't need to be liquid - but should be readily accessible on short
You can, of course, start with a smaller bankroll -
and the ratio to average bet size could be smaller. Some folks are
comfortable with a higher risk-to-reward scenario.
The above figures are for win betting only.
At Horse Racing Gold, we recommend that the serious player follow a
"portfolio" approach to money management. That is - separate bankrolls for
different kinds of wagers.
If you play the exotics, each type - exactas,
trifectas, triples - should have its own bankroll and backup bankroll.
Needless to say these ratios should be larger than the win-only bankroll to
bet size - as the win
percentages are lower and the likelihood of a long run of losers is greater.
If you wager to place - you have a place only
bankroll. This could be a smaller ratio than your win only bank because you
should be collecting on these wagers more often, so the corresponding "risk
of ruin" is proportionately smaller.
You should not share and/or rob across
Each is inviolate and is wagered according to
its own history, and reflects the edge/advantage shown by that history.
Escalation of bet levels is based solely on
how the individual portfolio has been performing.
Here's a plan for serious beginners -
starting from scratch . . .
(modify to more closely suit your particular situation)
This bankroll management plan is for those
who want to start right away with a smaller amount of start-up capital and
build towards a full portfolio.
Start with three bankrolls:
BR "A" = $500 - this is your
"active" betting bank of liquid funds.
BR "B'' = $500 - this is your
"active reserve" bank which should be readily accessible.
BR "C" = $500 - this is your
"reserve" bank - doesn't need to be liquid.
BR "P" = $0 - this is your
"profits taken out of play" - your bottom-line profits for your business.
Scenario 1 - "A" drops to $100: add
$300 from "B" / now "A" = $400, "B" = $200, and "C" = $500
Scenario 2 - "A" doubles to $1000: move half
the profit to BR "B" / now "A" = $750, "B" = $750, and "C" = $500
Scenario 1 - (continuing from 1 above) "A"
drops again to $100: add remainder of "B" and $200 from "C" / now "A" =
$500, "B" = $0, and "C" = $200.
Scenario 2 - (from #2 above) "A"
goes to $1500: Begin profit taking. Put 25% of the profit, $187, in your pocket, and add 25% to "B" - result = "A" = $1125, "B" =
$937, "C" = $500, and "P" = $187.
There could be any number of results, but
let's stop and take stock of what's been indicated.
When you've doubled for the third time -
know your win betting is solid - you've got a good track record, and you can
confidently make projections as to future win bankroll growth.
- Now you can
do one of two things: You can raise your basic win betting level, or you can
add one exotics bankroll to your active betting portfolio.
If you prefer to stay with win-only wagering
- consider raising your per race bet level. If it's been $20, go to $30 or
even $40 etc.. Now, if you've been "stair-stepping" your goals as
suggested in the "Setting Goals" section - you'll already be where you
should be - just continue as you have been doing - steadily increasing the
goals as each new one is achieved.
If you want to start betting the exotics,
it's time to redistribute your three bankrolls.
Take bankroll "C" and l/3 of bankroll "B" to start a new
exotics bankroll "D" (exacta recommended - not the trifecta, triple or pick
six - the run-outs of losers can be very long and require a much larger
starting BR). Result: "A'' = $2108, "B'' = $1,093, ''C" = $0, and "D" =
"B" is now the back-up for both "A" and "D."
Be very careful here - if your new
exotics bank runs down, back it up one time only with no more than half of
"B." Playing the exotics is a whole new ballgame. Do not jeopardize your
successful win betting business chasing the "big scores."
If you succeed - great - you'll be spreading
your bet amounts around and taking pressure off win pools on your horses,
thereby helping your average win price a bit. You'll also be
increasing your bottom line profits - by as much as double and more!
All of the above figures are, of course,
examples only. Your own betting and bankroll growth will likely be
very different. It's the organization that you want to emulate. STEADY is
"Plan your work, and work your plan."
Section 6 - "Expectations and Projections"
Most are skeptical about the possibility
of actually making a living betting on the races - thinking it's all just
pie-in-the-sky wishful thinking. Maybe you are among those - good! A healthy
helping of "prove it" is always wise.
Prove it? Okay, here goes - straight from the
horse's mouth (!?):
Right off - betting on horse racing is not "investing."
Sometimes you'll see it called investing by
some who have made consistent profits - and by others who have never even
tasted a profit - but . . .
Betting on thoroughbred horse racing will
never be investing. It is a risk taking.
At it's worst, it can be addictive and
ruinous - but then, addictive personalities and self-destructive people will
always be able to find an outlet for their problem - be it gambling, food,
drugs, relationships - whatever. Those types are a small minority - and if
you even have an inkling that you are like that - PLEASE stop reading this
right now and delete it from your computer - this in all seriousness!
For the large majority of "horse players," it
is a slightly expensive recreational pursuit - equivalent to many other
expensive hobbies like; skiing, golf, car racing or restoring, photography,
At a business level - betting the races
most closely approximates "day trading" of stocks or commodities.
For the serious player - for you if you have
what it takes - it can become a profitable "controlled risk" business venture.
I hear someone saying, "Yeah - but this ain't like no real
business - this is really risky!"
I hear you, but then all business is a
risk - let's do a quick comparison . . .
It is estimated that 85-88% of all new business start-ups
fail sometime in the first two years. That's plain fact. It's also
estimated that 95% of all race players lose money. Looking at those figures
- starting a home-based race betting business is only about 5 to 12% more
risky than starting any business - like say, a shoe store.
Now, consider the start-up costs. You can set up your race
betting business for about $1000. It would probably cost $150,000 and up to
start the shoe store!!
At only a 5-l0% greater risk of not succeeding - but while
risking only 1/150th the amount of money - do you really want to put up, and
probably lose most of 150 grand while being bored to tears every day?
- Or would you prefer to give the race betting business a
shot - risking as little as $1,000 while participating in one of life's most
"How much can I make?"
Good question . . .
Some might not realize the potential return - but
look at the following table:
(key for the table)
Column 1, # tracks: the number of tracks you're betting each
Column 2,# days: the number of days you wager per week
Column 3, # races : the number of races bet per track each day (based on HRG
Column 4, $ amt. bet: amount of money bet per race on average
Column 5, ROI%: return on investment (profit)
Column 6, profit week: average profit per week
Column 7, profit month: Weekly profit multiplied x 4.2 (weeks in a month)
Column 8, profit year: monthly profits multiplied x
l0 (a l0 month
year prevents "burn-out")
Let's use 18% ROI - which is a good, solid number to
shoot for - though some will achieve much higher figures than that
(see the +25% and +30% ROI results in the last two rows below).
The third to last line in the table shows what a serious
player with a $100 "comfort level" could expect to gross. The second to last
line in blue is the high-water mark - something to shoot for! The red line
is likely the limit for a $100 per race bettor.
Most other permutations you might want to check out should
be easy enough by using basic math.
Example - say you want to bet $25 per race - just figure
half the $50 dollar figures. If you want to project a $40 bet level - just
double the $20 figures - etc.
If you want to project a 30% ROI - just use a multiplier of
1.364 (30% divided by 22%) and so on.
Expenditures must be subtracted from the above projections -
and for an even more conservative look - we would suggest subtracting I5%,
from all figures as an added "error factor."
However; All above figured on a 10 month working year.
For players with a portfolio bankroll management plan, and working of
separate "exotics" bankrolls - for a very few of these players - doubling
the above figures is a distinct possibility.
Section 7 - "Contact Information"
For those ready to take the next step towards
professional level race wagering - and meet or exceed the high
projections above . . .
We would recommend getting all, or most of our
materials and using them to create you own unique horse system. It
could all start here.
On line tote boards:
need to set up an account to access it)
Telephone and online betting:
There are a host of others - a simple online
search will get you dozens. Those above are large
super-legit companies with whom you can have confidence.
U.S. track locations - and links to the track's web
(if they have one).
Rillito Downs (QH) (TB)
Turf Paradise (AP)
Oaklawn Park (TB)
Hot Springs, AK
Bay Meadows (TB)
San Mateo, CA
Del Mar (TB)
Del Mar, CA
Golden Gate Fields (TB)
Hollywood Park (TB)
Los Alamitos (H)
Los Alamitos, CA
Santa Anita (TB)
Arapahoe Park (AP) (AR)
(H) (TB) (QH)
Delaware Park (AR) (TB) (SC)
Dover Downs (H)
Calder Race Course (TB)
Carol City Branch
Gulfstream Park (TB)
Pompano Park (H)
Pompano Beach, FL
Tampa Bay Downs (AR) (TB)
Les Bois Park
(AR) (PH) (QH) (TB)
Arlington Heights, IL
Balmoral Park (H)
Fairmount Park (H) (TB)
Hawthorne Race Course (H)
Maywood Park (H)
Hoosier Park (H) (TB)
The Woodlands Race Track (QH) (TB)
Kansas City, KS
Churchill Downs (TB)
Ellis Park (TB)
The Red Mile (H)
Mountain Meadows (AP) (AR) (H) (QH)
Turfway Park (TB)
Evangeline Downs (TB)
The Fair Grounds
New Orleans, LA
Louisiana Downs (TB)
Bossier City, LA
Bangor Raceway (H)
Scarborough Downs (H)
Ocean Downs (H)
Laurel Race Course (TB)(SC)
Pimlico Race Course (TB)
Rosecroft Raceway (H)
Fort Washington, MD
Foxboro Park (H) (TB)
Suffolk Downs (TB)
East Boston, MA
Hazel Park (H)
Hazel Park, MI
Jackson Harness Raceway (H)
Mount Pleasant Meadows (AP) (AR) (QH) (TB)
Mount Pleasant, MI
Northville Harness (H)
Saginaw Harness Raceway (H)
Sports Creek Raceway (H)
Swartz Creek, MI
Canterbury Park (TB)
Yellowstone Downs (AP) (QH) (TB)
Atokad Park (TB)
South Sioux City, NE
Fonner Park (TB)
Grand Island, NE
Rockingham Park (TB)
Atlantic City, NJ
Freehold Raceway (H)
Garden State Park (H)(TB)
Cherry Hill, NJ
Meadowlands (H) (TB)
East Rutherford, NJ
Monmouth Park (TB)
Ruidoso Downs (QH) (TB)
Belmont Park (TB)
Monticello Raceway (H)
Saratoga Springs, NY
Syracuse Mile (H)
Vernon Downs (H)
Yonkers Raceway (H)
Grove City, OH
Lebanon Raceway (H)
Northfield Park (H)
Raceway Park (H)
River Downs (TB)
Scioto Downs (H)
Blue Ribbon Downs (AP)
Remington Park (AP) (QH)
Oklahoma City, OK
Grants Pass (AP) (QH) (TB)
Grants Pass, OR
Lone Oak Park (AP) (PH) (QH)
Portland Meadows (TB)
Penn National (TB)
Philadelphia Park (TB)
Pocono Downs (H)
Bandera Downs (AP) (AR) (QH) (TB)
San Antonio, TX
Sam Houston Race Park
Lone Star Park (AP) (AR)
Fort Worth, TX
Colonial Downs (TB) (H)
New Kent, VA
Harbor Park (AP) (AR) (QH) (TB)
Sun Downs (AP) (AR) (QH) (TB)
Yakima Meadows (TB)
Charles Town Races (TB)
Charles Town, WV
Mountaineer Park (TB)
Section 8 - "A Final Word"
Lets talk about "beliefs."
If you believe you can make it betting on thoroughbred horse races - you
On the other hand, if you don't believe it
can be done - you're starting in a very deep hole - one you may never climb
Cynicism and doubt become a self-fulfilling
prophecy. It's a hard enough game without having to fight against yourself
too. Lack of confidence can be a real killer.
If you believe the never ending parade of touts, and system sellers with
their outrageous claims, you're in for a rude awakening and you'll be very
disappointed with the reality of betting.
Don't be gullible enough to believe them when
they scream; "Hit 85% winners," or "Make $1000 a day on $5.00 wagers," or
"Turn the race track into your personal bank," etc., etc., ad nauseum.
If you believe you'll be successful enough to be buy a yacht, and a
mansion on Maui - wake up - you're hallucinating again!
Now, I won't say it's never been done - making that kind of
money - but keep your expectations real. You can expect success at playing
the races to equate closely to success in any other job or small business.
Leaving off the extremely poor and the extremely wealthy - the social
security mom with 8 kids and the doctors and big shot lawyers - what do you
and your friends make a year on average?
That's what you should expect of racing. Let's ballpark it
at $15,000 to $ 150,000. Double the low figure and halve the high
figure and you've got your best estimate of "reality" for the professional
handicapper - $30,000 to $75,000 a year.
"If anyone else can do it - I can do it!"
This belief, this kind of self-confident bravado, could
almost be applauded - if it were only true. Actually, anyone could make a
living betting the races if they could;
*be meticulous and conscientious in
all their work
?!? How many people like that do you know?
Are you like that?
It's tough - human nature itself mitigates against it.
Professional handicapping is not right for everyone - but it just might be
right for you.
We'll wrap it up now.
Hope you've gotten some good things out of "Professional
Race Betting - Now!
We at Horse Racing Gold put together this e-book in
order to inform many and attract a very few. Our commitment is to help
more players get into the ranks of "full-time pros."