Applying Wattles' Principles to Horseplaying!

[JustMissed]

While attempting to write a Betting Plan, I decided to go whole hog and write a Business Plan with the Betting Plan incorporated in same.

Using Wallace D. Wattles 1910 book "The Science of Getting Rich" as a template I was stumped in applying some of the principles.

On the surface and at face value, his principles seem to apply to commerical activites like merchants, craftsmen, trademen, etc. and not all principles would seem to applying to Gambling, particuliarly Horseplaying.

I know for certain that instead of questioning how these principles work, one needs to simply accept them and begin to practice them.

The problem is that for the process to work and enable one to get rich playing the horses--all principles should be applied and not just some.

#11 gave me a particuliar problem as to how could one incorporate this to Horseplaying. After standing on my head, looking at it backwards and forwards and finally "looking out of the box", I found this principles as important to the sucessful horseplayer as any other priinciple.

I have copied below Wattles' own summary of the "Science of Getting Rich".

If you would like to read the entire book(64 pages), do a google search for Wallace D. Wattle and it available for free at many sites.

Hope you enjoy the summary:

THESE ARE THE SCIENTIFIC LAWS OF GETTING RICH:

# 1: THERE IS A THINKING STUFF FROM WHICH ALL THINGS ARE MADE, and which, in its original formless state, permeates, penetrates, and fills the spaces of the universe. This formless, thinking stuff is INEXHAUSTIBLE. This limitless original substance is alive with CREATIVE energy and is CONSTANTLY producing more forms. When ONE is exhausted, ANOTHER will be created.

# 2: A THOUGHT in this formless substance PRODUCES THE THING that is IMAGED by the thought. A person is a thinking center and is the only being capable of originating thought. All the forms that a person makes must first exist in their thought. THEY CANNOT FORM A THING UNTIL THEY HAVE FIRST THOUGHT THE THING. Therefore THOUGHT IS THE ONLY FORM WHICH CAN PRODUCE TANGIBLE RICHES from the formless substance.

# 3: A PERSON CAN FORM THINGS in their thought. By IMPRESSING THEIR THOUGHT upon formless substance can cause the thing they think about to be created. To do this, a person must pass FROM THE COMPETITIVE TO THE CREATIVE MIND. Otherwise they cannot be in harmony with formless intelligence, which is always creative and never competitive in spirit.

# 4: A person comes into FULL HARMONY with the formless substance only by having a SINCERE GRATITUDE for the BLESSINGS it bestows upon them. Gratitude unifies the mind with the intelligence of substance, so that a person’s thoughts are received by the formless. A person can remain upon the creative plane only by uniting with the formless intelligence through a deep feeling of gratitude.

# 5: A person must form a CLEAR AND DEFINITE MENTAL IMAGE of the things THEY WISH TO HAVE, TO DO, OR TO BECOME. They must HOLD THIS MENTAL IMAGE in their thoughts, while being deeply grateful to the supreme that all their desires are granted to them.

# 6: The person who wishes to get rich must spend most of their time, including their leisure hours, in contemplating their vision, and in earnest thanksgiving that the REALITY IS BEING GIVEN TO THEM.

# 7: Too much stress cannot be laid on the IMPORTANCE of FREQUENT CONTEMPLATION of the MENTAL IMAGE, coupled with UNWAVERING FAITH AND DEVOUT GRATITUDE. This is the exact process by which the impression is given to the formless and the creative forces set in motion.

# 8: The CREATIVE ENERGY WORKS THROUGH THE ESTABLISHED CHANNELS OF NATURAL GROWTH, and of the industrial and social order. All that is included in their mental image will surely be brought to the person who follows the instructions given above, and whose faith does not waver. What they want will come to them through the ways of established trade and commerce.

# 9: In order to receive their own WHEN IT IS READY TO COME to them, a PERSON MUST BE IN ACTION in a way that causes them TO MORE THAN FILL THEIR PRESENT PLACE.

#10: A person must keep in mind THE PURPOSE TO GET RICH through realization of their mental image. And THEY MUST DO, EVERY DAY, ALL that can be done THAT DAY, taking care to DO EACH ACT IN A SUCCESSFUL MANNER. When every efficient act is a success in itself, and every act of your life is an efficient one, then your whole LIFE MUST be a SUCCESS.

#11: A PERSON MUST GIVE TO EVERY OTHER PERSON A USE VALUE IN EXCESS OF THE CASH VALUE THEY RECEIVE, so that each transaction makes for MORE LIFE.

#12: A PERSON MUST HOLD THE ADVANCING THOUGHT SO THAT THE IMPRESSION OF INCREASE WILL BE COMMUNICATED TO ALL with whom they comes into contact. GOD WANTS YOU TO GET RICH because God can express Itself better through you if you have plenty of things to give IT expression. So God desires you to have everything you want to have. God is FRIENDLY to your plans. Everything that comes your way is NATURALLY FOR YOU. DECIDE it is true and consider it DONE.

Those who practice all this will CERTAINLY GET RICH. The RICHES THEY RECEIVE WILL BE IN EXACT PROPORTION to the DEFINITENESS OF THEIR VISION, the FIRMNESS OF THEIR PURPOSE, the STEADINESS OF THEIR FAITH, and the DEPTH OF THEIR GRATITUDE.

Credits: from Rebecca Fine's adaptation of Wallace D. Wattles "The Science of Getting Rich" as posted on http://www.scienceofgettingrich.net

JM :)

[NoDayJob]

While attempting to write a Betting Plan, I decided to go whole hog and write a Business Plan with the Betting Plan incorporated in same.

Using Wallace D. Wattles 1910 book "The Science of Getting Rich" as a template I was stumped in applying some of the principles.

On the surface and at face value, his principles seem to apply to commerical activites like merchants, craftsmen, trademen, etc. and not all principles would seem to applying to Gambling, particuliarly Horseplaying.

I know for certain that instead of questioning how these principles work, one needs to simply accept them and begin to practice them.

The problem is that for the process to work and enable one to get rich playing the horses--all principles should be applied and not just some.

#11 gave me a particuliar problem as to how could one incorporate this to Horseplaying. After standing on my head, looking at it backwards and forwards and finally "looking out of the box", I found this principles as important to the sucessful horseplayer as any other priinciple. JM :)



Once you realize that handicapping and betting the horses is a business, and you treat it as such, you'll see that ALL the principles will fall into place.

NDJ

[freeneasy]

iam not doubting the mans intention to do right by others but when you read rule 12 this guy just lays to void all his previous 11 principles.
first off he talks about openly having and demonstrating ones gratitude towards whatever endeavor it is that one serches to succeed at. ok fine, its better to search out one's purpose with gratitude then it is to search out ones desire for the purpose of greed.
but in rule 12 he states "GOD WANTS YOU TO GET RICH because GOD can express ITself better through you if you have plenty of things to give IT expression.
the man just blatently two-faced/two faces GOD down to a lowly single solitary word, IT. and not only that but regresses god down to an it all in the same sentance!
i mean talk about greatfulness and gratitude, that expression shows nothing for the ONE PERSON WHO who pursued him with such goodness and caused him to have so much success.
if he was so greatful to GOD for all the good things that GOD has done for him and wants to give his GOD all the credit for all his successes then when speaking or writing of or about the ONE PERSON WHO IS THE LOVER OF HIS SOUL, then express HIM in all the manners, fashions and ways that HE deserves to be expressed in.
ahh thank you IT, i mean ITself, or is that GODit or itGOD
sorry jm, but he's ashaned to say what he believes then iam afraid he doesnt really understand and believe's what he is saying. its just way to much superficiality that shows the shame and hesitation on his part to speak the truth as he seemingly see's it.
sides, to much goop to remember anyway :bang: boing, boing, boing
also i can understand that maybe he was being considerate of those who dont believe in god but if he found some princeiples that only work with god then how can these same principles work without him.again :bang: boing, boing, boing

[JustMissed]

Free, Ms. Fine in an effort to update the original 1910 text so it would be more usable for modern readers, eliminated the gender references like he/she and also the masculine reference to God as a He.

I have not read the original text but I am certain Wattle referred to God as He.

I am from the old school and would prefer to see God referred to as He, but did note that Ms. Fine did use the capital letters "IT", in respect for the deity.

JM

[freeneasy]

making a living at the races is a tough bussiness and you have to approach it with the right attitude certainly as well as with the right tools. one dont work without the other. you just cant talk it into existence you have to work it into existance and that takes much endeavoring.
heres what will generally happen. you get lucky and find a system or method that makes you money but generally along the way a person is going to try a bunch of things from other peoples systems and idea's that just dont work or didnt work for them, add a little bit here, subtract a little bit there and son of a gun you popped a $40 winner. well this is going to quite inspire you and as it all goes along your going to see some pretty good ideas that made some pretty good sense and with a little bit of gained experience your going to start tinkering around with some of these idea's and throwing in a few of your own your going to come up with a way that gives you a nice little edge. and then when everybody on this board ask you "hey JM how in the hell did you pick that old poor excuse for a horse" your going to say "trial and error my friend, time and experience" ;)

[JPinMaryland]

is this another Monty Python reference I am not getting?

[acorn54]

i'd say it's as hard to make one's sole income from investing in horsebetting as it is making one's sole income from the stock market
in the stock market you can analyze corporations along the same lines two different years and get different investment results for both years.
in the stock market one year will be a banner year for stocks and the next year not
same in horse racing. one way you analyze and bet on the horses it shows a nice profit. the same analysis the next year it won't.
acorn

[jorgie]

I like #2 - THEY CANNOT FORM A THING UNTIL THEY HAVE FIRST THOUGHT THE THING. Therefore THOUGHT IS THE ONLY FORM WHICH CAN PRODUCE TANGIBLE RICHES

If anyone ever calls you a "dreamer", remind them that you have to dream something before you can be it or do it. Even the lottery, you have to think about winning before you go buy the ticket that wins you the millions. When I was in high school, I used to tell my uncle "you'll never win". He said, "At least I've got a chance."

As an Economics student, I also like #10 and #11.

#10 - When every efficient act is a success in itself, and every act of your life is an efficient one, then your whole LIFE MUST be a SUCCESS.

I'm not sure that your whole life "MUST" be a success (unforseen things happen), but you certainly increase the chances of that. Efficiency, getting the most output for a given level of input, is very important.

#11 A PERSON MUST GIVE TO EVERY OTHER PERSON A USE VALUE IN EXCESS OF THE CASH VALUE THEY RECEIVE, so that each transaction makes for MORE LIFE.

The professor that has taught me the most about "life" and not just books, would love this one. He gives his "where economics meets spirituality" speech and it goes something like this: If a man asks you for money on the streets, and you have the money with you, then give it to him right there! From a spiritual standpoint, the other man and yourself came to be in the same place at that moment for a reason. From an economics standpoint, money is "currency" - it is meant to move, to flow from person to person, and to be ALIVE. Money that is invested or used to purchase/pay for things is in motion and alive. The physical money in your pocket is not doing ANYTHING, and therefore, is not "currency". It's dead like a lightswitch being off.

I'm still digesting this one - my nature is to accumulate and protect what I have, but I guess this goes along with #3 from the book........get away from the competetive spirit and allow the creativity in. In other words, for me, just let go and give the man his $5.

[JustMissed]

I like #2 - THEY CANNOT FORM A THING UNTIL THEY HAVE FIRST THOUGHT THE THING. Therefore THOUGHT IS THE ONLY FORM WHICH CAN PRODUCE TANGIBLE RICHES

If anyone ever calls you a "dreamer", remind them that you have to dream something before you can be it or do it. Even the lottery, you have to think about winning before you go buy the ticket that wins you the millions. When I was in high school, I used to tell my uncle "you'll never win". He said, "At least I've got a chance."

As an Economics student, I also like #10 and #11.

#10 - When every efficient act is a success in itself, and every act of your life is an efficient one, then your whole LIFE MUST be a SUCCESS.

I'm not sure that your whole life "MUST" be a success (unforseen things happen), but you certainly increase the chances of that. Efficiency, getting the most output for a given level of input, is very important.

#11 A PERSON MUST GIVE TO EVERY OTHER PERSON A USE VALUE IN EXCESS OF THE CASH VALUE THEY RECEIVE, so that each transaction makes for MORE LIFE.

The professor that has taught me the most about "life" and not just books, would love this one. He gives his "where economics meets spirituality" speech and it goes something like this: If a man asks you for money on the streets, and you have the money with you, then give it to him right there! From a spiritual standpoint, the other man and yourself came to be in the same place at that moment for a reason. From an economics standpoint, money is "currency" - it is meant to move, to flow from person to person, and to be ALIVE. Money that is invested or used to purchase/pay for things is in motion and alive. The physical money in your pocket is not doing ANYTHING, and therefore, is not "currency". It's dead like a lightswitch being off.

I'm still digesting this one - my nature is to accumulate and protect what I have, but I guess this goes along with #3 from the book........get away from the competetive spirit and allow the creativity in. In other words, for me, just let go and give the man his $5.

Interesting that you commented on #11. This, to me, is the most difficult principle to apply to Horseplaying for several reasons:

Number 1. Who is a Horseplayer's customer. As far a I can tell, he has no customers.

Number 2. Horseplaying, like stock market investing, is a 'net sum' game. If you make money on a stock--someone else has lost money on the stock. If you cash a big ticket at the track, someone else has lost a wad of cash.

Albeit, there are some forms of investing that appear to be very favorable to both parties, i.e. You buy a bank CD and the bank loans money for someone to buy a nice house; or you buy a local school district bond and the money is used to built a nice school for the kids, etc.

Anyway, if Horseplaying is in fact a 'business', you would think you could apply all of Wattles' principles of getting rich to that business activity without any problem.

Quite a conundrum isn't it?

JM :)

[jorgie]

#11: A PERSON MUST GIVE TO EVERY OTHER PERSON A USE VALUE IN EXCESS OF THE CASH VALUE THEY RECEIVE, so that each transaction makes for MORE LIFE.

Yes, if you were to look at this statement literally, it would make you wonder who your customer is. But, if you think out of the box, there are plenty of ways you can give back - if you have a big night at the track, put $2 win bet down for a pleasant employee next time you're at the window. Hit a trifecta, ask the old man next to you who he'd like 2 bucks on in the next race - or just bring him a beer without asking. I don't know.......I'm not saying I do this, but then again, I'm not the one trying to apply Wattles' principles to horse racing.

I do like some of his principles for every day life, but applying them to racing is a whole other thing.

Good luck with the business plan!

[hurrikane]

I think this is more about giving back to the sport than buying a beer for rail bird.

donations to the retired thoroughbreds, injured jockies, education etc. Things that have more than monetary value.

[Nosebob]

#11 gave me a particuliar problem as to how could one incorporate this to Horseplaying. After standing on my head, looking at it backwards and forwards and finally "looking out of the box", I found this principles as important to the sucessful horseplayer as any other priinciple.


It seems to me that there is no need to be concerned about "giving back".

I think the takeout of 15 to 25% will help spread the wealth!

Nosebob :)