Earliest handicapping lessons...

[dylbert]

This post is memorial to my grandmother who passed away last Christmas Eve. She, not any male members of my family, introduced me to greyhound racing and thoroughbred horse racing. My fascination with numbers lead me to analyzing dog racing programs long before I could attend races. And, betting by proxy -- it was always great news when she and my dad returned from West Memphis with my winnings. I was delighted when I turned $6 into $20 betting two quinella boxes and winning one. Too bad that 50 percent success rate and great ROI did not hold forever!

The lessons I learned were many --
1) Never bet more than you can afford to lose.
2) If you are losing, stop betting, & just enjoy watching the races.
3) Hot jockeys do exist, don't ignore them... conversely, cold jockeys do exist, ignore them at your own peril (and expense).
4) A longshot show winner that pays $5.00 is more fun than $3.80 chalk winner; and even better, when in the same race!
5) Always a show bettor -- she excelled in exactas & daily doubles. My favorite was cashing her just-short-of-signer winners.
6) Her excellent memory was her key to victory, and as Malcolm Gladwell terms it in his book, Blink!, she was superior "thin-slice" decision-maker. She would read race results fully and carefully everyday. She paid attention to also-rans (3rd/4th/5th) that became today's longshot winner. Also, she would couple past performance from race program with jockey switch -- and find value plays. I still haven't unlocked how her black box worked... because it was uniquely her's.

In her last years, we could not attend races. But, my final fond memory was 2004 Breeders' Cup when she was hospitalized with pneumonia. She and I sat and watched the entire card. I don't remember any of the results as we didn't wager from hospital room... but we had great fun just like we did many times in grandstand in West Memphis, Hot Springs, and Bossier City.

Rest in Peace, Mamaw

I hope others here will share their stories of how someone older and wiser -- family or friend -- influenced them as young bettors. Merry Christmas to All...

[maxwell]

I was always interested in racing due to the fact that I had several uncles who were either jocks or trainers. Having Irish blood helped as well. My dad liked to go to the track, and brought home the Form on many weekends. I can't say that he ever did well in those prehistoric days of no speed figs, or
printed material. He is long gone now thanks to a 30-year career of smoking.

I can remember going to the track with him and betting $5 to win on a horse
and then hiding in the washroom because my stomach was tied in knots .:D

Some great memories!

[xciceroguy]

My grandma tought me how to play poker. I treasure those penny ante games.

[gregrph]

I was also introduced by my grandmother and aunts and uncles. She would take me once or twice a summer to Saratoga. She would get her selections from the Times Union and Daily News, always play the 2-4, 4-2 double (probably because she won once with it!) and not bet a lot of money but had fun. I remeber being with people that I loved (my parents didn't go very often.) My dad went a couple of times but hated to lose but always gave me a couple of bucks to play a double for him.

I learned to read the on track program and learn which jockeys and trainers were hot, etc. I would "refine" my betting handicapping (if that's what you really want to call it!) and analyze my picks when I got home that night.

When I moved out of my parents house, I always took my vacation in August so that I could go to Saratoga one day. I'd always take my grandmother (her sisters had passed away one by one until she was the last). The last few years I would get a wheel chair for her and we would sit outside underneath the trees out back or try to get grandstand seats. The last year she went before she passed away, I took her along with my wife and sister and we got a table I believe in the Carousel underneath the grandstand. She had been complaining to my mother (her daughter) that she was getting old, hurting all over, tired, etc. Not once that afternoon did she complain! It was a perfect way to spend what would be her last visit of many to Saratoga.

Of course, over the years I learned to read the main parts of the Racing Form (trying to get back on topic here!) but not completely. I've read some books, understood and tried to practice them (Beyer, Ziemba) with varying success, still trying to read and follow others and not making much headway.

I love the math but don't really have the time to study and practice the principles before playing "for real". I "play" a couple of times a year, not NEARLY as knowledgable as most of the folks here, love reading the forums, mostly as a "lurker" and maybe one day it will all click!
Greg

This post is memorial to my grandmother who passed away last Christmas Eve. She, not any male members of my family, introduced me to greyhound racing and thoroughbred horse racing. My fascination with numbers lead me to analyzing dog racing programs long before I could attend races. And, betting by proxy -- it was always great news when she and my dad returned from West Memphis with my winnings. I was delighted when I turned $6 into $20 betting two quinella boxes and winning one. Too bad that 50 percent success rate and great ROI did not hold forever!

The lessons I learned were many --
1) Never bet more than you can afford to lose.
2) If you are losing, stop betting, & just enjoy watching the races.
3) Hot jockeys do exist, don't ignore them... conversely, cold jockeys do exist, ignore them at your own peril (and expense).
4) A longshot show winner that pays $5.00 is more fun than $3.80 chalk winner; and even better, when in the same race!
5) Always a show bettor -- she excelled in exactas & daily doubles. My favorite was cashing her just-short-of-signer winners.
6) Her excellent memory was her key to victory, and as Malcolm Gladwell terms it in his book, Blink!, she was superior "thin-slice" decision-maker. She would read race results fully and carefully everyday. She paid attention to also-rans (3rd/4th/5th) that became today's longshot winner. Also, she would couple past performance from race program with jockey switch -- and find value plays. I still haven't unlocked how her black box worked... because it was uniquely her's.

In her last years, we could not attend races. But, my final fond memory was 2004 Breeders' Cup when she was hospitalized with pneumonia. She and I sat and watched the entire card. I don't remember any of the results as we didn't wager from hospital room... but we had great fun just like we did many times in grandstand in West Memphis, Hot Springs, and Bossier City.

Rest in Peace, Mamaw

I hope others here will share their stories of how someone older and wiser -- family or friend -- influenced them as young bettors. Merry Christmas to All...

[speculus]

Lessons that could have made me a better handicapper-bettor if I had followed them all the time:



There is no virtue like patience.
There is no substitute for discipline.
It is foolish to believe you can earn your bread n butter (and jam) as a handicapper/bettor just because you can separate contenders from non-contenders often enough.
Never believe a man who says his long term strike rate is 40% betting only one horse for WIN.
The greatest gap between theory and practice happens to be in MONEY MANAGEMENT.
Chasing losses is the first sign of a gambler who is on the way to ruin.
When you get into NOG zone (need-oriented gambling), you close all doors for sanity to return.
Do not go looking for a bet. Let the bet come looking for you.
The beauty of racing is that it is not at all compulsory to bet in every race.
Learn to unlearn.

[1st time lasix]

Speculus has much to say about patience, dicipline and the emotional pull of the action. We all could be better at the game if we practiced what he preaches. I find that using some self imposed "filters" on myself helps me pass races...I just avoid certain races which do not fit into my preferrerd style. Plenty more coming along n the simulcast era. For example..... I don't play claiming races at or below $10,000....I don't play sprints that are less than 6 furlongs....i don't play races without 8 entries or more. I don't play 2L races at ANY claiming level. I never play under the infuence. {I have my cocktails when the day is done} As part of my money mgt. I don't wager more than 6% of my bankroll on any individual race. 3-6% is my standard and it could come in any pool I percieve an overlay possibility. Have a great year ladies and gentleman.

[Kelso]

[QUOTE=1st time lasix]

I just avoid certain races which do not fit into my preferrerd style.

..... I don't play claiming races at or below $10,000....I don't play sprints that are less than 6 furlongs....i don't play races without 8 entries or more. I don't play 2L races at ANY claiming level.

QUOTE]


Have you discerned a specific logic that explains why certain races don't work well enough to bet ... or has it been simply a matter of learning-by-burning and not getting involved with a rationale? If you have developed insights into why certain race types don't fit your style, would you kindly share some of them?

Thank you.

[cnollfan]

I was in love with horse racing by high school but had not met any truly skilled handicappers until a friend of mine introduced me to his homeroom teacher, Mr. G. We started going to Centennial together that summer (1970). One of the first days we went to the track together he picked a horse named Traveling Shoes. It was a maiden race and his form was terrible. But Mr. G had noticed that Traveling Shoes, in a losing effort at Golden Gate, ran 1 1/16 miles as fast as the other horses had run 1 mile 70 yards. I can't remember if he won or not, but he was right there at the wire between horses at 30-1. That was the first time I realized in my bones that if you knew enough, you could win. It's been my pursuit since.

[nobeyerspls]

Some handicapping and wagering advice:

1. Don't be influenced by the board. The favorite is the collective wisdom of a bunch of people just like you.
2. Be patient - another race is coming.
3. Always bet the same amount. When you win you're not playing with "their money". "Their money" is behind the wickets, yours, no matter how obtained, is in your wallet.
4. Don't brag when you win or whine when you lose.
5. Be honest with yourself by keeping records. There are more than a few guys who always win or break even driving old cars.
6. Don't blame the jockey for every loss. Sometimes you'll back the wrong horse.
7. Don't borrow money or lend it at the track.
8. Be patient with newcomers. If they ask what you think is a dumb question, answer it in a polite manner. Remember, you were new once too.
9. If you are behind late in the day don't press by looking for that longshot. The ""get even" horse usually is a "get even worse" bet.
10. Finally, enjoy the sport. If it's not fun find something else that is.

[betchatoo]

It was my uncle who first took me to the track and developed my love for watching horses run, but it was my friend Ken (gone too long from cancer), who taught me how to win. His rules:

1. Never bring money to the track that you can’t afford to lose
2. Expect to win. If you go in with a “it’s all in fun” attitude, fun is all you ever have at the end of the day
3. Learn the game. Understand the conditions of each race and which horses fit those conditions best. Know which horses run fast and under which conditions they run their best race
4. Trust your instincts. If a horse “jumps off the page,” don’t be afraid to back that horse to your limit
5. All other things being equal, class will tell
6. Treat each bet separately. Don’t get to high after a big win and don’t get too low after a tough beat
7. You don’t have to bet a race. There will be more races tomorrow and more the day after that
8. Look for the reason your horse didn’t run as well as you expected or the reason another horse ran better than expected. Learn from what you find out
9. When you leave the track, leave it behind. Enjoy life to the fullest

[Grits]

Dylbert, I've read many fine things over the internet, and your post on lessons learned from your grandmother, certainly, deserves a spot among the top of my list. I'm sure that you miss her.

Thanks for posting your tribute.