Quote:
Originally Posted by VigorsTheGrey
I tend to see that there are 2 sides to this...the handicapping, and the wagering. If a person doesn't wager correctly, then the handicapping, no matter how good, won't be enough to gain any traction. That said, I have resolved to focus for a time on the wagering aspects...
...And then I stall out, what next...? What are the important questions to ask yourself...?
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My bankroll is $300 per race day....What amount of profit should I be aiming for on a consistent basis...?
I guess I need to make a decision to be a grinder or swing for the fences and absorb short terms losses...at $300 a day bankroll, how much loss should I be prepared to absorb/ withstand before it turns around...
Is a bankroll of $300 a daylarge enough to make any headway...?
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I just think people need to look at it differently. If you need to make money, or feel like you need to for the effort than I would shoot for 15% profit after all expenses. So that would be about 20% for me. Thats no easy task with the takeout.
I broke even last year.
I feel like I won big though. Racing provided me I estimated over 2000 hours of entertainment for a net cost of 0 cents, thats pretty dang good. My wife owns, trains, boards horses, she spent about 7k net losses after everything for roughly an equivialnt amount of hours, by my account my business venture kicked her butt.
Not everyone will see it like that.
I have a buddy, he bets very aggressively, losses on a lot of days....then he hits that big day and makes a lot of money, he is still down for sure but he says, lets go party I made a killing....see he only looks at it what happened today, he financially accounted for the money yesterday so its all profits today. If that makes sense.
So set a goal and figure out what works for you, I dont bet 300 per day anymore, more like 100, I am more than happy at the end of the year to be even.
