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Start with $200. Bet 1% of your bankroll to win only with a $2 minimum bet. When your bankroll doubles, you can raise your bet to $4. When it doubles again you can raise your bet to $8. If your bankroll should fall back down to a previous level--lower your bet to that old level.
If you're a winning player, your bankroll will increase. If you're a losing player, you're bankroll will eventually reach zero. You can then start over with another $200 and try again.
By the time your bankroll doubles, or reaches zero, you should have a pretty good idea whether or not you're doing something right.
Too slow for you? Not enough action? I wouldn't dream of only betting $2 a race. 1-800-Gamblers Anonymous.
If your bankroll keeps doubling, you'll be raising your bets accordingly--and most importantly--you will never be "overbetting" your bankroll.
Earn the right to bet more money.
[By the way, most horseplayers have no concept of money management whatsoever. One race they'll bet $20 to win and on another race the'll bet $60. And in yet a third race, they'll bet $50 to win and $50 worth of exactas, tris and pick 3s. Why? Two reasons: 1. No plan. 2. They had a better "feeling " in the latter two races.]
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