Dumb Betting

[Amazin]

As we all know,handicapping is only half of the equation.The other half is how do you bet and make a profit and not let your emotions come in the way.Yes I've read Barry Meadow's book(on money mangement),but frankly it didn't tell me anything I didn't allready know.The unique thing about it is that it was a serious attempt to deal with this more important aspect of the game which is sorely lacking.
For example last week I cost myself over $500.00 not because I couldn't handicap but poor betting.I came up with 3 horses that I thought would comprise the trifecta cold at GGF.One of the horses(the winner appropriately named Elusion)was 0-27 the last 2 years.So I didn't put him on top in the tri which paid $144.00.I also left him out of the Pick 3 (I had the other 2 legs around him)paid $398.00.Yet my system had him tied for tops(personal system).It would have cost me only $2.00 more to get the tri and $4.00 more to get the Pik-3(if I put him on top)Its results like these which make me say to myself"why go through all the trouble in the first place if you're just going to blow it with stupid betting".
I'm now making a scrapbook on dumb betting for personal reference.Does anyone else have some dumb betting story to share.

[ranchwest]

On my only trip to Santa Anita, there was a well-bred horse who had lost 10 maiden races in a row. He went down to Agua Caliente and won by 10 lengths. He was back at Santa Anita for a NW race. I gave it and another horse to a friend who hosted me in his box. The horse was 16-1, so I decided that the locals probably knew more about AC than I did. I bet him to place. My friend cashed his $5 exacta for $420 when the horse again won by 10 lengths. That was a long time ago, but it haunts me as if it were yesterday.

Don't bet someone else's horse and don't get off a horse just because nobody else is on it. Play your own picks.

[BillW]

Amazin,

One of the most difficult parts of this game is determining exactly what is a good wager. Mainly due to the lack of data. I was reviewing the last few month period the other day and noticed that wagers that I passed due to "lack of value" were hitting 45% (as opposed to the 27% of wagers that I had made). An eye opener to be sure, until I looked at the ROI for those wagers ... a negative $0.12 per dollar wagered, i.e. I would have been spinning my wheels with those wagers had I made them. Still not enough data to be statistically significant, but at least encouraging. The point is, evaluating wagers one at a time, the only conclusion is that a win is a good wager and a loss is a bad wager, which in the long term is not necessarily true. Best of luck in that search for the perfect wager in the new year.

Bill W.

[superfecta]

Originally posted by Amazin
As we all know,handicapping is only half of the equation.The other half is how do you bet and make a profit and not let your emotions come in the way.Yes I've read Barry Meadow's book(on money mangement),but frankly it didn't tell me anything I didn't allready know.The unique thing about it is that it was a serious attempt to deal with this more important aspect of the game which is sorely lacking.
For example last week I cost myself over $500.00 not because I couldn't handicap but poor betting.I came up with 3 horses that I thought would comprise the trifecta cold at GGF.One of the horses(the winner appropriately named Elusion)was 0-27 the last 2 years.So I didn't put him on top in the tri which paid $144.00.I also left him out of the Pick 3 (I had the other 2 legs around him)paid $398.00.Yet my system had him tied for tops(personal system).It would have cost me only $2.00 more to get the tri and $4.00 more to get the Pik-3(if I put him on top)Its results like these which make me say to myself"why go through all the trouble in the first place if you're just going to blow it with stupid betting".
I'm now making a scrapbook on dumb betting for personal reference.Does anyone else have some dumb betting story to share.
I can relate to the "but for two dollars a kingdom was lost":)
I don't know how many times I lost a bet by not betting enough,had the horses,wrong order,etc.
I keep saying if I would have spent enough to cover all the combos,I still wouldn't have made money.....I almost believe it now.
Story:
On my failed mission to qualify for handicapper of the year,I went to Sam Houston.I finished next to last.On the way home the next day I stopped at Lone Star.Played for a couple of hours,gettin close,but still far away.I was talkin to a guy next to me and he was telling me who were the whales,the longball hitters,and who had no sense but more money than god and the like.
I figured a race at Bay Meadows that was on the turf,turned to this guy and asked him if it was still on the lawn.He says no,it's been raining there.So I refig the race and go bet.Well ,my numbers come in,my original numbers,the ones I didn't bet cause it was off the turf.Even in the order I wrote them down,no fine tuning needed.Straight.
He leans over and says "you get it ?!".
"no " I say,"I changed my numbers cause it was off the turf"
I was bummed a little ,mad at myself for not playing a small ticket ,just for goofs,on my original picks.
He gasps,it pays seven thousand and change for a $1 super.He looked scared for a second,but I told him it was my fault,no big deal.
But he wouldn't talk much after that....I guess he felt responsible,but he didn't tout me off a winner,I did it all by myself.

[sq764]

If you could label my betting career, those 2 words would fit (Dumb betting). I consider myself a good handicapper and a horrible wagerer. If there was a book or pamphlet or seminar that explained how to wager, I would be there first in line. I cost myself so much money by betting the wrong way or not structuring my wagers properly.

Its very frustrating when you handicapped the race correctly, especially when you have a 12 horse field down to 4 and 3 of the 4 hit the trifecta ticket, and because of your dumbass wager, y ou get nothing..


Scott

[Amazin]

My dummest bet of all time makes my original message pale in comparison.April 1991,GGF.Came in with a whopping $36.00 bankroll due to having just paid taxes.Studied the Pick-6 and entered an $8.00 ticket.One minute to post I decide I,m not going to hit it anyway and eliminate one horse from the ticket to reduce the amount to $4.00.I figured I needed to conserve every dollar I could with my lowly bankroll.Sure enough the horse I eliminated(who only paid $8.00),was all I missed in the Pik-6.Nobody had 6 that day.I would have been the only one.Carryover:$51,000.00.
I walked out with $2,000.00,from 5 out of six and a couple of pik-3.But I was furious with myself.I literally was talking out loud going back to my car in the parking lot.I wanted to kick my own a--.I was cursing so bad you'd think I lost two grand.Yet here I am 10 years later,making the same mistakes.