Approaching Your Race Day Bankroll

Thursday Strategy Session

Approaching Your Race Day Bankroll

In order to have success in any gambling endeavor proper bankroll management is key.  Making sure you do not over-extend by chasing losses and banking any large wins you amass. An appropriate budget is the best way to takes steps toward being a successful handicapper.

Sports bettors manage their action by "units". A unit comprises anywhere from 1-5% of their budget. Casual or journeyman sports bettors might have a modest budget of $100 USD. Since most of the sports books insist on a minimum wager of $5 USD per ticket, the sports bettor with the $100 USD budget would wager the minimum ($5) which equates to 5% of their budget. This is their one unit. The savvy sports bettors key to success is to fire their units commensurate with their positive expectations on any given sports event.

Horse racing handicappers should take a more specific approach. Perhaps their bankroll is a modest $60 USD per day (particularly if they are a weekend warrior). It takes self-discipline to maintain such a budget, but it is necessary for long term success. Again chasing losses is a bad habit to get into. Conversely, going beyond your budget after a nice win is not a good idea. For example, how many times have you witnessed a horse player win a tidy some one day and blow it all the next. Not good.

A stellar approach a horse player might take with the above $60 USD budget is to find a race that you have determined gives you an edge and make that the key part of your wagering for the day. The budget might look like this:

• $12.80 on the Pick 6 (20 CENT base wager). Especially if you are adept at the multi-race wagers. This allows you to pick two horses in every race. Best played when their is a carryover or better yet on a mandatory payout day.
• $8.00 on the Pick 4 (50 CENT base wager). Again this allows you to pick two horses per race.
• $20.20 on your KEY race. This allows you to go full spectrum on the race, playing the exacta, trifecta, superfecta, and a nice win / place / show wager on your winning horse. Of course you will want to pick a race where you have determined you have an excellent handicapping edge by way of superior record keeping.
• $10.00 to wager on other races that you have handicapped and have a decent bead on the race outcome. Perhaps you like Exactas or our deferential to Trifectas. Enjoy yourself and make those plays. Our favorite wager is the 10 CENT Superfecta. This is the one we would earmark the funds for.
• $9 (the balance) for your other WIN, PLACE, or SHOW bets. Maybe you are working a Rolling Show Parlay or a season long (track specific) dividend SHOW play. Perhaps after going through the card for your Pick-6 or Pick-4 you have come across some exceptional value in your selections and what to place a WIN wager on those. Fire away.

Obviously you want to make your wagers by playing to your strengths. The most important thing is to go in with a budget and stick to it. Make sure you keep accurate records so you can make modifications as the track season goes on. Doing so will give you a great chance to become a successful handicapper and turn a profit.