[Exceller]

Originally Posted by SentToStud

No, not wealthy (at least I don't think so), but I've been working a long time and I've done ok. Exceller, you've got to get this gambling thing down a bit better. I'll even let you in on a few of SentToStud's secrets of successful horse wagering...

1. First, by "budgeting" a set amount, you're limiting upside and you cannot do that. After all, if you like 3 horses that are 2-1, 2-1 and 10-1 and you've gone through most or all of your "budget" by the time your 10-1 rolls around, you're gonna want to kill yourself when that 10-1 wins.

2. Never bet to place or show.

3. If a favorite looks deserving and looks fair value, it probably is. Pass the race. You'll lose in the long run betting on or against deserving chalk.

4. The key to making money is to set your own line. Lots of people know this. However, that effort alone is useless unless you are able and willing to wager more as the odds on your selection increase vs what you determined as fair odds. For example, If you are willing to bet $100 on a horse if he goes off at 5-1, you MUST be willing to bet MORE on your horse at 6-1, 7-1, etc.. This is single the most important factor in making money on horse race wagering. If you truly have family in the bookmaking business, ask them about this. Nothing makes a bookie's ass twitch faster than a larger than average wager from a customer on a longer priced horse. If they tell you this isn't true, they're lying.

I am not a great gambler, that is why I set budgets. I anticipate losing what I bet. I have a percentage of a couple of horses and I have been told I can expect to lose money there too. I don't mind losing, horses are my entertainment.