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Originally Posted by thew92
Hello Everyone I am new to Horseracing handicapping and need to know where to start. Forgive me if I am asking some dumb question.
I was a online poker player and if you haven’t heard the US DoJ shut down the major sites. So now I am going to try to get into Horseracing handicapping. There are a few comparisons I am going to try and make with this.
1. Bankroll management: I was a limit hold’em player and there you should aways have at least 350 Big Bet for the limits you play as to withstand the swings in the game. Is there a rule of thumb about how much you should bet on a race as far as your Bank-Roll goes?
2. Rake/Takeout: What is the avg. takeout pure race? Or where do I go to see how much is taken out?
3. Rakeback/Rebate: In poker some sites gave you rack back if you knew where to get it and other had a VIP system that was equal to rake back. Do any of the American ran sites offer any kind of rebate system or a VIP equivalent? (I am not interested in betting in offshore sites after what has happen to the online poker industry.)
4. Coaching Sites – In poker there are coaching sites out there that teach you how to play poker and so on. Like Card Runners and Deuces Cracked. They also had one on one coaching available. Is there anything similar in the horseracing world?
5. Software – In poker I had PT3 and HEM to work with I see all kind of software avilible for horseracing and some of them seem a little pricey to me.
6. Books – What books would you recommend reading for a beginner?
7. Sucker Bets – Any time there is gambling a casino will offer beginners sucker bet are there any in horseracing that you would recommend I stay away from?
8. When betting on horses I see about 20 tracks running races every day what track are the most popular and have the best horse and simulcast? I really like the way Churchill Downs does their simulcast.
9. Who are all the American ran online sites out there and should I open an account with all of them just to chase the sign-up bonus?
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I have played some poker over the years. I enjoy it, but it is nothing like my love of (or addiction to ?) the game. Beware. If the game truly grabs you, you may never get rid of it. I know I can't.
I am a newbie (3 years in the game) compared to most on this site. As others have said, this is the best site about the game on the web. I continue to learn things that hone my skill. My opinions as someone who was where you are a few short years ago:
1. Bankroll management: In my opinion the most important aspect. I have success with certain plays. However, I make too many action bets and though unit wise my action bets are small they add up quickly. Unlike poker where you can fold and another hand is coming in just a few minutes, if you sit on your hands you are waiting for at least another 20 minutes before your next opportunity for action occurs unless you are playing multiple tracks. Even then, you can only properly handicap and play so many tracks at a time. (Some of the advanced handicapping software that some use will really cut down on handicapping time, but there still is only so many hours in the day.) To stop making a short story long: Discipline. Discipline. Discipline.
2. Takeout: As others have said, depends on the track and type of bet. As stated elsewhere the HANA site is the place to go.
3. Rebates: A must. Look around PA. There are authorized ADW (U.S. licensed) advertisers that will get you a much better rate. The difference between the rate I get with my favorite smaller ADW and a large corporate one (that shall not be named), really shocked me at first. Guess who gets the vast majority of my action?
4. Coaching sites: I consider PA my coaching site. Some threads can get heated, but I have never seen anyone trying to learn not receive good advice or denigrated for asking a "newbie" question. Plus not all advice happens on the Board. I have had skilled posters be quite helpful and kind via pm exchanges.
5. Software: The portion of PA on software is very informative. I have yet to make a foray into software, though it is next on my list. Some of the software does seem a bit pricey, hence why I am still just dipping my toes in. Some posters swear by certain software. (Check out the contest sections.) Also, some posters have created their own software apps and posted them for free.
6. Books: Pretty well covered by others. Personally, I think I got the most from Davidowitz's Betting T'Breds. To this day, if I am leaving the house and need pleasure reading material, I will often take it with me. I don't know how many times I have read it, but it often jogs my thoughts with new ideas.
7. Sucker bets: In my opinion, I think one person's suckerbet is another's bread and butter if they find something that gives them an edge.
a. For someone new, I would agree that show betting would be a sucker bet unless it is a bridgejumping situation where you perceive the favorite to be false. Someone new should not be betting large units at first anyway, and the difference in ROI between Win (or even Place) and Show is significant.
b. More complicated exotics Pick 6, Pick 5, higher minimum Pick 4, Supers, etc.). Some say exotics are sucker bets even for the advanced and properly bankrolled player due to the high takeout. Either way, a newbie should not be betting the amount need to properly play exotics. Jumping into the exotics with its longer losing droughts are a quick way to the poor house.
Personally, if you want to play exotics from the get go, I would look to those tracks with .50 tris and Pick 3's. The payouts can be severely depressed depending on the pool and take, but they can be a lot of fun on the cheap and can help you learn to construct your vertical tickets properly.
8. Tracks: Obviously, the "classier" or larger tracks are going to be more popular. No doubt those track's pools are larger giving you the chance at higher payouts. However, it depends on where you find your edge. The great thing about the game is that with all the different tracks, race conditions, types of bets, there are so many more angles or potential for an edge. (Much more opportunity for an as of yet undiscovered edge than poker, in my opinion.) Personally my better triumphs have come at tracks that are considered "bush league."
9. Signing up to collect the bonus: Depends on your personality. Is that extra $50 or $100 worth it to you? I have never opened an account simply for a sign-up bonus. Though I have never had a problem with the three US based/licensed ADWs I have or have had an account with, giving out my SSN number to a third party for what amounts to peanuts is not my style.
My best advice:
Use PA as your bible (or other applicable holy book) for the game. Check the site every day. Search the threads. (Even ten year old threads contain wisdom and insight.) Ask questions.
Welcome to the game!
basics,real basic
