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Originally Posted by Greyfox
My point is the question was "How do you measure your handicapping?"
You should start a thread entitled "How do you measure your profit from horse racing?"
You are the one that added oranges to the apples, as lifestyle preferences would have to be included in answers to profits (eg. purchase of box seats, dining, drinks.)
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I think there is an easier way to clarify, given the prevalence of "winners" on this forum. Change the question to: "How do you measure your handicapping--when reporting your additional income to the IRS?"
There are few areas in which self-deception and denial exert as much influence as in horse race handicapping. I don't really care, other than I think people would do way better if they were a bit more honest with themselves. If one doesn't realize (or refuses to accept) that something is broken, there is little motivation to fix it.
I think a LOT of bettors could win a lot more if they bypassed the ego-saving interpretations of "profitability" and concentrated on making money. The ego-saving ploy of declaring costs and directly related expenses as "entertainment" or "having fun" or whatever is a costly one. Not for me. For them.
