Dol you think this is possible?

[Conquer]

First off I want to thank those who answered my odds question in my intro thread. Now I have another question for all of you. Do you think it is possible to make $500 a month PROFIT with beting the horses? You know, something to supplement my regular income? And if so, have you or do you do it?

[dav4463]

Anything is possible. You want $500 to dupplement your regular income. Let's say your income is $5000 per month now. See how much it takes to make $500 per month extra.....then bet ten times as much and quit your regular job ! Too bad the racing money will not be that consistent !

[DJofSD]

I think you need to ask another question: can I make $500 a month profit betting horses making this kind a bet?

Only making $2 win bets on the weekends? I don't think so.

How much do you push through the windows, how's your hit rate and are you honest with yourself?

DJofSD

[joeyspicks]

Of Course.....its very possbile providing you know what you are doing. Like DJofSD says you must know your hit rate, how many plays you make during the month, how much you must "put through the windows" to achieve your target result. You must know yourself....what type of bets are best for you (win, w-p,
or exotics.....etc,etc)....AND your personal hit rate history along with avg price.
Bottom line is you must know yourself and keep very good records of your performance. Know what you are good at and what type of plays you are good at. Unfortunatly its NOT as simple as buying a good program and playing the picks out of the box.

There have been many discussions about making a profit on this board and I have a feeling there are many here who do make a consistent profit considering the high level of handicapping skill that is displayed.....but its not just handicapping....its a combination of good handicapping, self awareness, and money management.

[DJofSD]

its a combination of good handicapping, self awareness, and money management.

Well stated.

DJofSD

[JustRalph]

This is some question. It is very possible. In fact from some people on this board, very easy. I look forward to some of the answers ..............

[kenwoodallpromos]

Find out what bets you can beat the para-mutuel crowd at and exploit those.
Find out how the industry and tracks make races more competitive and use that to sort them out. The track's job is to increase competition and betting- yours is to find ways to sort out competitiveness and value bets.

[Zaf]

Sure it is possible, but those who do usually have many years experience playing this game. And you must put in the time and work to make it happen.

ZAFONIC

[twindouble]

First off I want to thank those who answered my odds question in my intro thread. Now I have another question for all of you. Do you think it is possible to make $500 a month PROFIT with beting the horses? You know, something to supplement my regular income? And if so, have you or do you do it?

I don't know why but I still get the impression your pulling our leg with these questions. Maybe it's what you say, like " supplement my regular income." You sound a lot smarter than the questions your asking. That's OK though because your at least creating some conversation here. Well, it's not a dumb question more naive than dumb. I'll tell you why, I wouldn't go to Joe's bar, get invited to the back room where there's a serious card game going on and ask any player if he thinks he can win playing poker, you would be quickly tossed through the window. :eek:

You don't have to worry about that here, so I'll throw my two cents in. Just like poker your bankroll is the boss, without knowing how much risk money you have I can't predict to any certainty how successfull you'll be, even if your a good handicapper, so yes it can be done if you have a reasonalble bankroll and that can vary from player to player depending on what king of wagering strategy you employ.

Good luck,

T.D.

[GeTydOn]

You wanna make $500 a month extra guaranteed. Find a part time job. Stores are hiring with the holidays coming!
:D

[joeyspicks]

Doing this correctly IS a part time job!:jump:


(but the pay is better...much better!):ThmbUp:

[GeTydOn]

but I said in my post "guaranteed." I never said handicapping wasn't a part time job.

[Steve 'StatMan']

You wanna make $500 a month extra guaranteed. Find a part time job. Stores are hiring with the holidays coming!
:D

Yes! I'm convinced the most assured way of earning $10,000-$12,000 a year at the racetrack is to work there selling hotdogs.

[joeyspicks]

GeTydOn: oh I didnt really "catch" the GUARANTEED part. Now re-reading this post I think maybe TWIN is correct and this guy might be having us on......or is so new he thinks there is a guarantee in racing:lol: :lol:

[cj's dad]

Here's what's guaranteed ! The vast majority of race track bettors have little or no clue as to what they are doing. Most have no control of their bankroll or emotions. Last of all, I think that the most common mistake is not having a consistent wagering pattern,i.e. have a nice hit,bet big, lose big, lose confidence and then bet small again. Good luck making $500 a month EVERY month !

[skate]

i guess i can agree with all of the above. i like the answer by twin d.

ill add, that about five or six years from now, you'll still be learning. and then you may get serious. some hit at 30% and lose while some hit at 10% and win.
which might mean that it'll be up to you, how you handle the situation.

when you're talking $500 average, you'll be betting bout $70,000 per year.it will be an average because "luck" will come to play also.

[joeyspicks]

Here's what's guaranteed ! The vast majority of race track bettors have little or no clue as to what they are doing. Most have no control of their bankroll or emotions...... (CJ'S DAD)

.................................................. ......................
Cj's dad .....I could not agree with you MORE. Some knowledge goes along way but AWARENESS, AWARENESS, AWARENESS, is the real key. Awareness of your OWN emotions and knowing WHY you are making a bet. Most are pulled up and down by emotion which leads to NO CONTROL of their bankroll (the kind you hear at the track making a bet to "get even" on the day).

However this IS exactly what creates opportunity for the aware and awake few to make profits. Most claim this is very, very hard to do (make a profit over the long term)....and in truth its not easy, but the real obsticle to be conquered is yourself.

Ok..................... done "preaching" for the day:jump:

[twindouble]

Here's what's guaranteed ! The vast majority of race track bettors have little or no clue as to what they are doing. Most have no control of their bankroll or emotions...... (CJ'S DAD)

.................................................. ......................
Cj's dad .....I could not agree with you MORE. Some knowledge goes along way but AWARENESS, AWARENESS, AWARENESS, is the real key. Awareness of your OWN emotions and knowing WHY you are making a bet. Most are pulled up and down by emotion which leads to NO CONTROL of their bankroll (the kind you hear at the track making a bet to "get even" on the day).

However this IS exactly what creates opportunity for the aware and awake few to make profits. Most claim this is very, very hard to do (make a profit over the long term)....and in truth its not easy, but the real obsticle to be conquered is yourself.

Ok..................... done "preaching" for the day:jump:


Joey; Lets not lose sight of the enjoyment players get out of the game, to me if your doing close to the right things you enjoy the essence of horse racing. I've known people for many years that I know haven't come out ahead ever and didn't mortage the house to play. They still love the game and still take week long vacations near a track. That's just one type of player and there's many. I'll tell you this, there's nothing else in this world that would take me away from playing the horses, win or lose. Sure as heck beats bingo at my age or pulling slots. If I did come out a looser, I'm sure it will be because I lost my mind, not that I haven't sprung a small leak here and there. :D

[Overlay]

Just like poker your bankroll is the boss, without knowing how much risk money you have I can't predict to any certainty how successful you'll be, even if you're a good handicapper, so yes it can be done if you have a reasonable bankroll and that can vary from player to player depending on what kind of wagering strategy you employ.

As twindouble indicated, adequate starting capital is a must, in my opinion, along with an appreciation of how much you're going to have to put through the mutuel windows to make your desired profit (without relying on the proverbial 50-1 longshot at a strategic time, or a sizable winning streak right at the beginning). For example (just to pick numbers out of the air), 30% winners at an $8.00 average mutuel would require consistent betting of $2500 a month to reach that $500 profit goal. That would certainly have to be a significant up-front consideration to take into account.

[oddswizard]

Using a good handicapper like Steve Fiero or Michael Hammersly, or the Wizard to help you handicap along with a good money managment program will give you the results you desire. Breaking it down to money with a $50.00 per day profit goal (double your goal) you can select the top 3 selections in each race. It will require a bankroll of $600.00 total. You should bet $30.00 per race broken into 3 equal bets of $10.00. Two of these bets to win and 2 $5.00 exactas keying the low odds horse on top of your win selections at 3-1 + will do the job! Good luck.