Ways and Means

[BELMONT 6-6-09]

Does anybody recall Ray Taulbots Ways and Means . I am interested in the premise of the booklet which I believe was to cease betting after a certain
amount of money has been reached.?

Would appreciate if anyone could let me know what was the focus of the work.

Thank you in advance.

Zappi

[GameTheory]

You can still get this booklet from American Turf Monthly last time I checked.

Anyway, there are two basic ideas in there:

A) Betting -- Flat bet with a certain amount each month. Make the net equivalent of $20 based on $2 bets for the month, and then stop betting for the rest of the month. Always start the month with enough capital to sustain 20 consecutive losses, and set your bet amount for the month accordingly. In this way, if you start with a "lowly $40" and don't tap out (and the selection method works as it is supposed to, giving you 50% winners), you'll build your bankroll to the amount of $4740 by the end of the year.

B) Selections -- the "Hit and Run System" -- bet only on those horses that moved up in class in one of their last two races, with various other qualifications, exceptions, etc.

Naturally, you can't play the system as given in this day and age and expect it to work (if it ever did), but like any system might give you something to think about. Or maybe not. Probably some of the least interesting of Taulbot's work...

[BELMONT 6-6-09]

Many thanks Game Theory.

[jcrabboy]

Hi zappi:

I don't like systems or strategies that suggest walking away when you are winning. This can be a very streaky game even with the best handicapping, so I see nothing wrong with riding a positive streak. Just be sure to keep to your normal wagers, because a streak can snap- leaving you holding the bag if you step out of your wager routine.


Due Column wagering is another trap to avoid like the plague.

Jimmie

[BELMONT 6-6-09]

I agree. However it (IMO) is a sound measure to initiate a stop/loss amount maybe on a daily or weekly play to insure that like you said when things are goning bad it helps limit the level of loss that can be had with the real bad streaks. food for thought.

[jcrabboy]

I agree. However it (IMO) is a sound measure to initiate a stop/loss amount maybe on a daily or weekly play to insure that like you said when things are goning bad it helps limit the level of loss that can be had with the real bad streaks. food for thought.

Hi zappi:

What really makes this a great game is how well different approaches may work. If you prefer a more conservative approach and it works for you then that's the way to fly.

Many would consider the way I wager conservative. I eschew exotics except for daily doubles and pick threes (one horse in each leg-a very inexpensive wager with takeout extracted once only). I bet W, WP or P depending on the odds. That's it.

This is a game for profit. How you get there is half the fun.

Jimmie

[BELMONT 6-6-09]

Jimmy, I have been in the game for 35 years and to be honest it's amazing how many unigue approaches players are taking to this game most tailored to individuals psychological makeup and simply what "style" they are comfortable with.

Myself, I very rarely play exotics. This is not a put down of this style of play but I simply do not have much success with the various exotics. My play is concentrated on win and place with occasional show spots where i believe the public is overlooking that position. On occasion a one punch exacta or double adds some 'muscle' to my wager when I have a clear understanding of the race.

I have seen some real tough players who have shown positive results for years self-destruct and go on full tilt and crash in this game .It's ugly and damaging and years of profitability is wiped away in the course of a very bad six months or so. Thus that is why my suggestion of a built in stop/loss somewhere in the wagering frame work is a good thing.

Zappi

[jcrabboy]

Jimmy, I have been in the game for 35 years and to be honest it's amazing how many unigue approaches players are taking to this game most tailored to individuals psychological makeup and simply what "style" they are comfortable with.

Myself, I very rarely play exotics. This is not a put down of this style of play but I simply do not have much success with the various exotics. My play is concentrated on win and place with occasional show spots where i believe the public is overlooking that position. On occasion a one punch exacta or double adds some 'muscle' to my wager when I have a clear understanding of the race.

I have seen some real tough players who have shown positive results for years self-destruct and go on full tilt and crash in this game .It's ugly and damaging and years of profitability is wiped away in the course of a very bad six months or so. Thus that is why my suggestion of a built in stop/loss somewhere in the wagering frame work is a good thing.

Zappi

Hi zappi:

Rather than a stop loss I use a wager to bankroll ratio. I would have to lose 200 races in a row to suffer gamblers ruin and, trust me, I would be doing some serious examination of my methods before that happened.

Really enjoying the thread.

Jimmie

[BELMONT 6-6-09]

Real solid play Jimmie I am sure your style or strategy prevents any careless or reckless play and insures that each individual wager is equal in that it has no more imortance than the next one.

I am a bit of a grinder in that I need my sense of security with a set betting bank to insure that the usual 'ups and downs' of the game has virtually no psychological impact. I am content to win a lttle lose a little or occasionally win big in the course of every calendar month. In this manner I am in total control of myself, situations, my money and my profit.

Zappi:ThmbUp: