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Horse Racing Bankroll Management

Horse Racing Bankroll Management

One of the biggest mistakes that even veteran horse racing gamblers can make is poor bankroll management. Whether it is due to betting too many races, not pressing enough strong opinions, or chasing after losses in vain, the entire day can be ruined if the money is not properly handled.

The following strategies outline how to maximize your profit potential when using our Premium Picks.

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Do not make every single bet

Our handicapping products include recommendations for every possible bet available at each track so that they can benefit anyone’s style. We list all of the bets to give you plenty of options, but they are not meant for you to bet on all of them.

If you want to play Win bets, then we tell you the most likely winner. If you prefer placing multi-race wagers, such as Pick 4s, then we list who from the race you should include.

Here is an example:

An example from our PREMIUM PRODUCTS (click the image for more information)

What you should not do is make every single one of these bets. You might correctly hit the show horse, but if you miss on enough other bets, then you will still lose your bankroll.

Stick to the bet type that you like to play the most and/or that has given you the most return on your investment. Some bettors, like Mike “Somobomb” Somich, excel at hitting Pick 4s and Pick 5s for high-dollar returns. Others, like Mike “Saratoga Slim” Spector, find that they prefer single-race bets like Exactas and Trifectas. 

Find the wager that you like best and stick with it.

Look for value

Our picks are made with the morning lines in place, but the final odds when the horses break are often be vastly different. Be smart about how you play our picks based on the current odds.

In the below example, our trifecta wager recommendation was to box up four horses, which for a $0.50 denomination would cost $12:

  • #1 (5/2 odds)
  • #4 (6/1)
  • #9 (9/2)
  • #6 (7/2)
An example from our PREMIUM PRODUCTS (click the image for more information)

However, say that there are now 4 minutes to post, and the odds have changed from their morning lines:

  • #1 (6/5)
  • #4 (10/1)
  • #9 (5/1)
  • #6 (2/1)

If you box the four horses and they come across as #1, #6 and #9, then you are likely not going to make more than your original $12 bet – in fact, you may get less than that back.

In cases like this, you should adjust your trifecta bet. If you agree that #1 should be a heavy favorite, then change your bet to put only #1 in first, then box the other three in second and third. Your $12 ticket now costs $3, so your profit margin increases exponentially.

Feel free to include your opinions

An inifite number of ways exist in which to handicap horse races, so there is a good possibility that as you develop your gambling skills, you may develop methods that tell you to bet differently than what our Premium Products say. That is not only perfectly acceptable, it is also encouraged!

Some of our customers’ biggest hits have come when they learned how to mix their strongest opinions in with our own. One follower recently cashed on a Pick 6 sequence worth over $20k because he took what we said to play and added his own opinions into the ticket.

At the end of the day, this is your money that you are betting, so you should feel comfortable with what and how you wager.

Stick to your Budget

The worst thing you can do if you start the day off on a cold streak is to bet more on the next races than you had originally planned. Before you start betting, create budget that is not over your head, then keep to it. If you lose, you lose; they call it gambling for a reason.

It is important to know that betting on horse racing is a long-term game. Slumps and bad days are bound to happen; even we are not immune. Monday may have been brutal, but Tuesday could very well be the exact opposite. Just keep your head held high when you lose and enjoy your wins when they happen.

Finally, and most importantly, remember to gamble responsibly. Never bet more than you can afford to lose. 

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