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A variety of different wagers can be placed on horse races, ranging from something as simple as a Win bet to something as complex as a Pick 6. Something not discussed often enough is the difference between being a successful handicapper and being a successful horseplayer. There is no worse feeling than when you properly handicap a day’s worth of races, yet you end up losing money simply because of how and what you wagered.
Tracking your wagers and how they perform can assist you with your bankroll management and lead to you walking away with more money in your wallet at the end of the day. This helps everyone, no matter how big or small the bankrolls.
Keeping track of your Return on Investment (ROI) based on a certain wager type (Win, Exacta, Pick 3, etc.) is key to becoming a successful horseplayer. Personally, I have tracked of all my bets for the past 12 months in a spreadsheet, and I have different tabs for each wager type. Doing so has helped me realize a couple of things about myself:
I modified my wagering style after tracking my wagers, which increased my ROI as a result. In the past, I was playing Trifectas and Superfectas in most of the races that I bet, but after tracking these wagers and realizing that I was losing money on them, I became much more selective.
After tracking your bets and finding your best and worst ROIs, you can still play the lesser wagers from time to time if you really feel the itch, but only do so sparingly. At the end of each day, if you follow these tips, you should end your betting days with more money than you did before.
Vinny Blond is a New York-based handicapper who is one half of Real Dynasty Picks. Follow him on Twitter @PicksByDynasty.
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