How do YOU back up your bet...or DO you?

[timmgirvan]

When I used to bet the horses across the board, I had friends who just put money on the nose! Time after time these guys "lost their shorts" cuz they didn't have a Place bet on their horse. How about you folks....do you WP,or use an exacta or what?

[timmgirvan]

I guess I just wondered about the current thought of strategy when Liking a horse to win, but using a saver. Probably more conservative to make a place wager than an exbox!

[Scav]

For me it depends on how the day is going.

If I am alive to a pick three that is paying $40 and $50 per $1 and I have it 20 times, and I started with $400 on the day, I have $200 in my pocket, I will try and figure out how to spread that $200 into the race to get me to +$100 guaranteed on the day. When it works, and I don't hit the Pick three, I always toss that "+100" on a 6 or 7/1 for the hell of it, usually on the turf somewhere.

Now if I start the day with $400 and I am already up $200, and alive to the above, I'll look at the race to make sure I didn't miss something, but i'll trust my eyes in this spot.

My eyes are deceiving me now though. I better turn it around come three weeks

[Scav]

Originally Posted by DaHoss9698

You're "gambling" and not "investing"

Dude, DIFFERENT DAYS. Most days I am gambling and can care less what goes on, doing it for fun and the action. But they are days that I am investing, the days where I place larger wagers on horses I have been waiting on.

If you don't see the difference between the two, I am not going to argue about it

[philcski]

Originally Posted by DaHoss9698

You're "gambling" and not "investing"

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.

[timmgirvan]

Originally Posted by philcski

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.

Those derivatives....are from a vine ,tree or outta the ground?

[philcski]

Originally Posted by timmgirvan

Those derivatives....are from a vine ,tree or outta the ground?

Half the time they're outta my ass. Seriously.

[timmgirvan]

Originally Posted by philcski

Half the time they're outta my ass. Seriously.

I hesitate to ask what they are....seriously?

[Scav]

Originally Posted by DaHoss9698

Phil I hear what you are saying, I was busting Scavs balls about a discussion we had the other day. I maintain that while it's cool to say you are investing, you're still gambling.

Is the stock market gambling to you?

[Scav]

Originally Posted by DaHoss9698

Yeah.

Well then you are obviously on the opposite end of the spectum when it comes to the world thoughts.

While I agree it is gambling, all investing is a 'gamble'. But the stock market is not classified as 'gambling' like going to the boat, racetrack, casino, or your poker game is.

I personally consider the stock market as investing. Just like I consider carefully calculated wagers on something like a race horse or a sports team.

If I put $100 on the Mariners when I am out in Vegas, I am doing it to 'gamble' and watch the game. But when I put dimes on the Cubs against the White Sox, it was an investment becuase I had a huge read on how they were playing, and knew the Cubs would sweep them.

Matter of fact, and this obviously can't be confirmed, but when I was in the WSOP, I asked my table if anyone knew where I could find odds on the Cubs sweeping the White Sox that weekend.

[Scav]

Originally Posted by DaHoss9698

Dude, spare me the lesson. I realize that the stock market isn't the same as going to the boat, racetrack, etc. I see no point in wasting more time with this. But do me a favor and don't talk down to me like you are some big timer. You are right, keep investing.

Yo, I am a big timer. I have put through like 300k this year, probably be at 500k by the end of the year. I can verify this if you really want. Ask Kev, he has seen my action.

As for your talk about attitude, I am not the one that has done a complete 180 like you have recently. Totally changed, for the worse