Is it possible to earn 300k in one year at the track?

[bob60566]

How many people on this site bet in the millions in any given year, Myself it is 10k per year over last seven years and this is my comfort zone as a hobby five days week and i enjoy what i am doing.

Mac

[lamboguy]

Originally Posted by bob60566

How many people on this site bet in the millions in any given year, Myself it is 10k per year over last seven years and this is my comfort zone as a hobby five days week and i enjoy what i am doing.

Mac

i don't think there are that many on this site or in other places any more.

in places like HONG KONG and JAPAN, my guess is you will find many more than are in this country.

i just heard the other day that the total handle in AUSTRALIA is almost as much as it is in the US

[windoor]

I play many methods,

At the moment my lowest is 22%, I don't want to post my highest, but I will say they are few and far between.

Regards,

Window

[windoor]

Originally Posted by Dave Schwartz

Simple answer is "yes."

However, there a lot of conditions that make this difficult. First, let's consider what is your expected advantage (or ROI or whatever you wish to call it). Let's say that you are going to make a whopping 10% without rebate. And let's be clear about rebates - a lot of the bigger tracks, you know, the ones where you can wager a LOT of money - have very small rebates these days.

Let's work on the assumption that you CAN, in fact, return a solid 10% per wagered dollar AFTER your wagers have been added to the pool.

First condition: +10% ROI

$300,000 per year
Let's keep this simple and assume 50 weeks per year of playing time. Therefore, we are talking about $6,000 per week.

Wagering: The Math
$6,000 / 10% = $60,000 per week bet. Let's assume you have found a 5-day track. That is only $12,000 per day. Let's say that you are going to wager 3 races per day.

There you have it. Bet $4,000 per race.

Yes, it can be done.

If you believe that your ROI is going to be 20% then you only have to bet $2,000 per race.


Caveats
1. Betting $2,000 per horse without destroying your profit is not possible at all odds ranges at all tracks.

2. Betting early will destroy your prices: "Look! Someone made that horse 1-99! He must be live!" (Yes, I know there is no 1-99.)

3. $2,000 per horse demands a huge bankroll.


IMHO, it is much easier to wager $240 per race, betting multiple horses per race, 100 times per day, spread across 6 or 7 tracks at a 5% net ROI after rebate.

Voila! $300,000 per year.


Regards,
Dave Schwartz

I was thinking more in line of $200 per horse, even that will affect some pools.

Was my math wrong?

Windoor

[windoor]

Originally Posted by turninforhome10

I like your ideas Windoor. And not to get to complicated, Would people think this was so crazy if we were in trader forum? I think the hardest part of this game is being able to reconcile the dichotomy of gambling and investing. If someone is using the best tools (for them) , has put in the homework and has a clear agenda why not. Someone should start a thread "What it takes to be a 2%".
I feel the problem with teaching anybody anything is most learn in order to the "pass the test". This is to say that we cram the information that we need for the immediate task in order to spew it out in order for a grade or paycheck. Most people educate themselves in order to get ahead financially. However most get comfortable and the need for education becomes no longer necessary for financial gain. Personal hapiness becomes the primary motive for the way to use the mind. A fancy way to say that most of us are average.

The difference between someone who donates their dollars and those that collect the dollars donated comes from 2 things IMO
1)Be pragmatic in both what you learn and who you learn it from. The more you learn about this game the more you realize that the ability to be reflexive to changing situations comes from personal experience and formatting proper objective thought.
2) Ability to pay attention to detail and having a developed sense of trust with yourself that what your doing is the best that can do. The belief in yourself and methods.
These two things are a big part in going to 300k a year.

People think I am crazy when I tell them I spent 8 hrs building databses to handicap horses. I think they are crazy for allowing themselves to just settle in to a secure and mundane existence.

The only difference between the 2% and the other 98% is the ability to accept responsibility for acting on your dreams and being able to go through the process to achieve said dreams being good to yourself along the way.

I like this.

We think alike in many ways.

It is not always about the money. It's the challenge of doing something most think can't be done.

Windoor.

[Dave Schwartz]

With $200 per horse, 3 times per day, 5 days per week, you wager $3,000 a week.

To make $6,000 per week you'd need a 200% advantage.

[bob60566]

Originally Posted by Dave Schwartz[b

]With $200 per horse[/b], 3 times per day, 5 days per week, you wager $3,000 a week.

To make $6,000 per week you'd need a 200% advantage.

Dave over the years i have at RANDOM bet over $200 on a horse many times what a very big mistake that wil never be repeated again .

Mac

[Dave Schwartz]

Dave over the years i have at RANDOM bet over $200 on a horse many times what a very big mistake that wil never be repeated again .

Everyone has their own comfort level.

In my life I have seen guys who could go to the track with their last $2,000 and wager $1,200 in a single race. Usually this kind of player is not a long-term winner.


Dave
PS: You re-working that calculator WinD?

[Robert Goren]

Where does it say that the system player is limited to only playing the win pool with picks. He could key it in exacta, tris, doubles, and pick 3s. If you have something good, there many ways to milk it.

[Dave Schwartz]

I was going on what HE said. His spot plays are all about win bets, or so I have been led to believe.

I am sure you are not suggesting that you could actually expect to make $6,000 per week betting $3,000 per week?

[TimesTheyRAChangin]

Originally Posted by Dave Schwartz

I am sure you are not suggesting that you could actually expect to make $6,000 per week betting $3,000 per week?

By his own #'s he said that his return shows a profit of 25%,which means he would get back $3750- for $3000- wagered.

[Dave Schwartz]

By his own #'s he said that his return shows a profit of 25%,which means he would get back $3750- for $3000- wagered.

Your math matches mine. I just did not realize that he said 25% and used a conservative estimate; something I felt was within the realm of possibility.

I find 25% a very difficult standard to achieve on a consistent basis but would never call someone a liar because they said they were achieving such an advantage.


But wagering $3000 per week he would need a 200% advantage... getting back three times what he wagers... to earn $6,000 per week.


Regards,
Dave Schwartz

[TimesTheyRAChangin]

Originally Posted by TimesTheyRAChangin

By his own #'s he said that his return shows a profit of 25%,which means he would get back $3750- for $3000- wagered.

To make $300k a year,he needs to bet $1.2 million,which is roughly $1100- to $1200- per race,based on his 5 winners from 20 races each week,at 25% profit.

[bob60566]

Maybe people are hung up on making 300k, I am not even if I had the bank to support it with rebates.
Read the post again and forget 300k,Is it possible? you could handicap 25% winners? from your selected races on the card ???.
This concept I found and posted earlier this year TEN STEPS TO WINNING by Danny Holmes very intresting read.
Bottom line you cannot beat the whole card.

Mac

[rrpic6]

It is possible to make 300K in a year, but highly doubtful to keep that kind of average profit. You'd have to have a few really big hits on the biggest days of the year, Ky. Derby, Breeders Cup, etc., where the pools are enormous. Hitting a few Pick 4's, Supers, or a Pick 6 on those days can get you to 300K a lot faster than WIN betting.

RR

PS. Just be prepared for the IRS to be on your ass until the end of time. I just sent in my "proof" for my 3rd audit in 12 years.