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Originally Posted by DaHoss9698
You're "gambling" and not "investing"
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When you've placed a wager with thought and reason which has a chance of returning a profit, it's no different than investing at that point. I trade derivatives for a living. If you don't reduce the volatility of your bankroll you'll get crushed. Same thing applies here, especially with multirace wagers whereas you have an opportunity to diversify your position in the payoff leg.