How to lose money in racing
 

Use your own money to wager.

Sounds stupid doesn't it? I've won four figure
bets and I've lost four figure bets. My buddies
and I have tried every betting scheme and racing
system out there. Using your own money with
large bankrolls will eventually fail.

When I moved to Vegas, I actually befriended some
players that consistently made money. Their approach
was to bet most of the time using other people's money
(OPM). They put up a small wager at the beginning of
the day using their money, then they use their
winnings to bet the exotics. Believe it or not,
they actually stay ahead of the game most of the
time. Try it, it works.

agtale.com

no doubt about it, you got the right system.. my only problem is i can't find anyone that wants to put up for me to bet pari-mutual racing

Has to be satire…

_____________



should probably have gone in the Quotes thread but anyway -

has to be the greatest quote about gambling ever

a guy heads to the roulette table

he sees another guy with a large mound of chips sitting next to him

he says to the guy - "looks like you're doing real well"

the guy with all the chips replies:



"sure am - I'm playing with the house's money"




truly a classic - he won it - but its still not his money - he knows he won't have it for long______________(~:/




.

When I play Black Jack and i'm up significantly ....

I make 2 stacks , one is my original buy in and an extra 50

The other stack is my winnings........

I know for sure I won"t leave broke cause I won't dip into original buy in

at least on that same table....

2 things will make me stop ......

Dwindling winnings .....

And a fast change in dealers.....

I always have an eye on the pit boss to see if he's staring at my table

If I see something change ..its FU Charlie...I'm out of here!!

Oh, the days of the "racetrack tout". Too bad there is not enough people at most tracks today, to "start an argument".

The wealthy don't get that way by risking much of
their own money and neither should you.

You need to be a good handicapper, you need a lot
of patience, but you don't need a lot of money.

For example, at the start of the day look for a
relatively easy race to wager. One where you can
identify a winner at 2/1 or 3/1 odds. Make a small
wager from $8 to $20. For example, $4 to win and
show (insurance). You will get back around $18.

Next, place that money on an exotics wager.
For example, a Pick 3 with the combination of
2 X 9 X 2 or 3 X 4 X 3. The cost for a $.50 bet
is $18.

You will soon be wagering with money won, otherwise
known as other people's money (OPM), and
none of your own.

You control the game when you are wagering with
OPM.

The game controls you when you are betting with
your own money. You may get lucky for awhile, but
the deeper you get into it the more it will control many
aspects of your life. Eventually, you will wind up
wasting far too much time and money trying to get
back to even.

The racetrack touts and their lore is legendary.

Some were the bad side of touting. They'ed have people in different parts of the track. Each got a different horse He'd get a tip from whomever won. Not good.

The other old school touts had much more class and flair.

I worked at DRC in the mid 80's.

There was a mutuel clerk there named Kaz. Really good handicapper who would share his opinion with players. They would take care of him if the horse hit.

But just to seal the deal. Kaz had plastic bag of straw in his locker.

He'd put a few strands of the straw on his shoulder. When people would notice it he'd say yeah thanks. I was at the barns this morning getting the inside scoop steam. Must have got some straw on me.

Could only work a few times a meet. But boy did it work. He must have had 20 guys all betting $200 and $20 for him!

No risk!

I knew another clerk in the Bay area. Bay Meadows, Golden Gate and the fairs. Wayne.

Back in those days your box would go back into the money room at the end of the day. But it didn't have to square up till the end of the week.

He may have been the first ever Cash Call. If you were tapped. You could always go to Wayne's window and get a 1 day VERY short term loan.

He wouldn't charge vig. But it was well known when you paid him back a win ticket of $20 to $50 would be much appreciated. :cool::cool:

I've always been of the opinion that when I win any money, then that money is MINE...and not "other people's".

Long ago, I had almost bottomless credit with several tellers. This led to some great scores. It also led once or twice to me nearly fleeing the country.

Keith..Elmer..Freddie.. They thought I was infallible. So did I. We were all mistaken.

I knew a few tellers that thought the money they had in the draw was their personal bankroll and wound up in a bit of trouble when the manager decided to count the draw at the end of day (as they always should) instead of just taking the envelop and accepting the total written down by the teller.

I knew a teller and he used to wager when
the trainers put big money on their horses.
One day he made a large bet and didn't
have the cash to cover it. Wound up in jail
for a couple of years. It works most of the
time but not all of the time.

Excellent stories - all with the ring of truth.
:ThmbUp::ThmbUp:

:ThmbUp::ThmbUp:

Besides, what happens when you start the day LOSER?

Wining at the races has nothing to do with bankroll size or whose money you are playing with. Winning is a state of mind.