A major problem I see with almost every single player(including myself): We are playing each day with a different bankroll. This may actually be you. One day you are short on money and playing $10 a race. The next day, a bonus came in, you made a score on a race, stocks went way up (ok – that doesn’t really happen anymore) and it’s $100 or even $1000 a race.
Since I played golf every day for the first fifteen years of my life, it’s easy for me to relate things in golf terms. Playing with an inconsistent amount for your bankroll is like playing one day with fourteen clubs and the next day with only six. Can you imagine Tiger or Phil playing a round with half their clubs? No 60 degree wedge for the flop shot, no duce for the stinger – you get the point. So in horseracing terms, the bankroll you play with will dictate the bets you are able to make. For example, today a player may have three hundred dollars so he’s playing pick threes and trifectas. The next day, that same player may have $2000 and it’s pick six, superfecta and a wager in every race. A day later, the same guy has $50 and he’s looking to put it all on the nose of one best bet. To have your best chance to win,all types of wagers need to be available each day.Feeling comfortable about each wager is a must when it comes to winning. Whenever we “need” to cash, it’s almost a certainty that we will be heading to the parking lot with our pockets empty.
Here is what I suggest you start doing . . . Start each day with the exact same amount in your bankroll. Have several ways of wagering and never vary from those ways. Obviously, you are all going to have very different bankrolls. Start with what is comfortable for you. For example, let’s start with a $200 bankroll. I would never bet more than $20 (10%) on any one race. (Remember, to win you must be in your comfort zone. If you bet outside your comfort zone, the Gambling Gods come into play and you’re almost sure to lose.) Scan the races the night before, and try to find the six or seven races that you might think have some value. Plan on making four or five $20 wagers the next day. ( I always figure on one or two being a pass due to scratches, unexpected weather, a big track bias or odds changes.) That would mean $100 total wagered.
It is very important to leave the track or turn off the computer with money left in your bankroll. The next day we start the same way – if we lost $100, we put $100 back in to play. If we win $200 we take that out of play and start the day with our original $200. The point is to be consistent and stay in your comfort zone. Good luck and I’ll be back soon with another hammer, saw or screwdriver for my toolbox.