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Originally Posted by nobeyerspls
Lots of stuff on here about handicapping but not much about money management. In my long experience with this I have become a very good handicapper but am only now getting better with wagering strategies. This game is a two-step dance and getting one right doesn't help as they are equally important. In the past my greatest handicapping achievements have often underscored my worst money management failures.
So forget about handicapping methods for awhile. Whether you are a pace handicapper, angle player, number cruncher, or someone who relies on class your method will help you find a horse (or horses). What do you do with it? How many of you simply make large straight bets? What kind of exotics work for you and how do you play them? What percentage of races do you skip? Uniform wagering amounts or the occasional plunge? Assuming you all keep very good records, how much can you pull out of the tracks over a year?
Among a small circle of acquaintances at my simulcast facilty, the style of wagering differs widely. I'm guessing that's true here.
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Hi Nobeyerspls,
It is very good to see you still posting on the ‘Net horseracing chat rooms because I have enjoyed your many informative posts and now to address the issue you have raised; money management vs. handicapping.
I believe that in horseracing there are many more good handicappers than there are good money managers and I think the reason for this disparity is the lack of bettor discipline and patience, in other words the desire to win to “big” quickly by some bettors by placing multiple small wager combinations in the same betting pool (typically the exotic betting pools).
I realize that "one shoe" doesn't fit all feet, but my betting preference today is win wagering only (many years ago I wagered on exotics, but not anymore) and I bet on only one horse in a race and the odds must be at least 3-1 or better. My choice of betting is on 50-60 stakes races per year (particularly graded stakes).
My most recent failure was in this year’s KY Derby and my choices were posted on the PA website as 1. Curlin, 2. Street Sense and I put all of my “wooden nickels” on Curlin who went off at 5-1. However, Street Sense closed with odds of 4.90-1 and won the Derby. There were friends in my Derby party who suggested that I split my bet because of the odds, but my personal bettor discipline and patience told me not too. Incidentally, I recently recovered my losses with a Todd Pletcher stakes win (no, it wasn’t Red Giant and how I wish that it was).
