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[Fastracehorse]

Originally Posted by Cratos

If you going to play this game to pay the mortgage (i.e., become a professional player) you must in my opinion decide on what type of gambler you are. According to Kenneth Arrow, the Nobel Prize winning economist who argues in his theorem on individual risk that there are three (3) types of risk: (a) Risk-Preferred, (b) Risk-Against, and (c) Risk-Neutral.

I bring this up because horseracing in terms of making money is about risk and if you don’t know where you fall on the risk continuum, you will probably not be a successful horseracing gambler no matter how good of handicapper that you are.

Once you have an understanding of your gambling risk profile you need to ask yourself if you have the discipline to control it. Opportunity in horse betting is rare and it doesn’t make any difference if it is flat win betting (my choice) or exotic betting, you must have the discipline to seize the opportunity.

You must also have patience and a good work ethic. That is you must be able to wait for that “rare opportunity” and work hard to find it.

If you have met the aforementioned criteria you must have a bankroll that is consistent with your goal of revenue earning. Yes, I understand that a $2.00 bettor can hit a boxcar exotic and be financially set for a long time, but the odds of that happening is very long; synonymous to hitting the lottery jackpot.

Another suggestion is become a loner. Many bettors lose because they “bet by committee.” This is okay if you and a group of friends go the track to enjoy the sport as a spectator and lay a few wooden nickels for fun. But if the mortgage, car payment, and all other financial liabilities are dependent on your winnings; then you must put in the effort and task to win as you would do with any other job.

Someone mentioned in one of the other posts in this thread that the bettor should wager at the larger tracks. I don’t disagree with this because the mutuel pools are larger, but with ITW and OTB wagering you don’t have to be physically at the big racetracks. However two of the best wagering venues are the KY Derby and the Breeders’ Cup races.

I am risk-preferred baby

fffastt