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Which of the following horses would you consider to be the bravest under the following racing scenarios?
A front runner who goes to the lead early and holds off the charge of a fast closer.
25%
A horse that sits off the pace and pushes himself through a small opening between the two leading horses to win.
14%
The thoroughbred that is dead-last and makes the big run around the final turn and wins flying on the outside.
14%
Any one of the three choices above depending upon how the rest of the race sets up helping him to win.
47%
Total votes: 51
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Money
Whether you are playing the game, or going to the actual races, money management is the most important thing you can practice. It is surprisingly easy for money to magically disappear at the racetrack. You might lose a few bets, then you bet more to try to win that money back, or you might just bet too recklessly and pay dearly for it. There is only one answer to that problem: DISCIPLINE.
Yeah I know what your thinking “Save it for the army”, but discipline will keep you out of the financial pit of hell. When I say discipline it doesn’t mean bet ultra-conservatively, nor does it mean holding back yourself from betting on the races. Discipline is betting intelligently. How do you bet intelligently? I am not going to tell you how to manage your money specifically, but I am going to offer a few tips you can use at the races and when you are betting in the game. In real life you will not have a $50,000 bankroll like you will in the game. If you do you mind sending me a piece? In real life the best suggestion I can give is to take a set amount of money to the track. I will use an easy number say $100. Now here is where the discipline comes in. YOU DO NOT LOSE MORE THAN $100. I do not care if you want to put a dime on a superfecta, once you lose that $100 go home before you really get into trouble.
The reason I chose a $100 is not only is it easy to remember, but you do have enough money to play around and experiment. It really is the best thing you can do at the track; play around with your money in small denominations. You're trying to make that $100 last through 10 races. I would just bet what you feel comfortable spending on a horse race. You can bet mutuals (win, place, show) or even exotics (exacta, trifecta, superfecta etc). Just take my advice and go to the track spend your $100, have fun and learn what you can from your experience, it will make you a much smarter bettor. In the game I would take a similar approach, you can start throwing around big bets when you are comfortable with how the game works.
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Comments
Good advice for a cabbie
When I used to have my hack license, I would sometimes sneak out to Belmont, take everything I had from my customers that day, and bet it all.
If I won
then everything would be fine. If not, sometimes I had a little problem.
Ha!
You talkin' to me?
The Mohawk, dude
You need to smooth out the speckle. When I go to the track, my domination is complete because I feel the good in the winner, and my feelings for the winner becomes strong. Then I would place my bet.
Darth Vader is a Nubian GOD!!!
Hilarious!
Myself, I have done the same thing: I bring $30 to the track to bet any way I see fit. Once that $30 is gone, it's gone. On the flip side, once I WON $200, which rarely happened, I also quit.
I love the Superfortress!!!
One time
I tried to place a $10 bet on a horse at Belmont with a Monopoly $10. The teller almost fell for it, looked up at me and smiled. Then I gave her the real sawbuck.
The blast explodes UP & OUT!
Ummm
Well I'm the only one here.
The blast explodes UP & OUT!
Not a bad system
I'll get back to ya if I get the $50,000 bankroll :)
Money management
I think one of the most important things you can do in this sport is to keep track of your wagers in a notebook, and also look back at past performances AFTER the race is win to determine why the race turned out as it did. Too many people just turn the page...
Jack
Can I get one of those burgers you make??
Nice article
Money management really is so important. What else is important is wagering strategy. Not handicapping strategy, but wagering strategy. Two totally different things.
Re: Money Management
I'm glad you guys have had so much to say about money management. I just spend some of it and have some fun. That really is the mission in horse racing.