Saturday, December 7, 2013

A Winning Strategy

A trip to the race track or a session on your computer with can be a winning one or a painful loss.  So let's take a look at both situations and see if we can identify what may be 'a winning strategy'.

First, a look at the 'behavior of betting' is in order because the individual's mind set is behind the bets he makes. The first thing to consider is the size of your bankroll.  Your bankroll is money you have put aside to bet with.  There is a saying that goes like this: "you can't win them all but you can lose them all".  What does this mean?  It means that it is quite possible to lose every bet you place.  If that should happen to you then you may end up with a zero bankroll.  This is the very worse situation.

We will look at a strategy that will put money bet, that we win with, back into our bankroll.  So when we win a bet we will put this winning ticket aside and not use it again during the current betting day.  Quite simply what this will do for us is to make sure any winnings we have we do not roll over into losses.  Rolling winnings back into betting again with the proceeds and losing is the way many a horse player ends up with empty pockets at the end of the day.

Putting winning tickets aside and back into you bankroll is a strategy for at least preserving part or all of your bankroll for the day.  The second step in a 'winning strategy' is to never bet more than your have in your bankroll for that day.  For example, if you start with a bankroll of $200 you might want to allocate $10 in bets for each race if you have 10 races on the card for that day.  That assumes you want to bet every race.  If you have some discipline in your betting you may not bet every race but choose races that you have the greatest confidence in winning.  You can measure the size of your bets but never exceed your bankroll for that day.

A profitable day is one where your winnings exceed your bankroll that you started with at the beginning of the day.  In fact you may want to stop betting when you reach a profitable level that meets your expectations.

May the racing gods be with you.