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Originally Posted by Bill Olmsted
If you can't show a long term profit with flat bets then no betting scheme in the universe will convert that loss into a profit. When starting out, keep it simple. Bet the same amount for a couple of hundred bets. If you win, THEN raise your bet size. If you are a really a good handicapper, THEN you can bet different amounts according to how you "feel" about a certain horse's chances of winning (or placing or showing, etc. etc.) Good luck!
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True, but there are a lot of decent cappers who don't control their betting as you mentioned. They either chase losses or bet too much after a win. Anybody who hits a $30 winner has no business going home broke but I have seen it happen many times.
