Thoughts from a Novice Handicapper, Volume 2

[GenuineRisk]

Beautiful weather, frustrating day at Belmont on the 8th.

What I learned:

1) Know what wagers you are best at and stick to them. I brought a small amount of money to wager, as husband and I are pretty broke right now, and had lost it all by race 7 because I tried some trifectas. I need to stick to wins and exactas at this point. I'm better at those.

2)Always box your exacta. Because if you don't, that horse that has been an "also-ran" for the first 8 races of his career will choose to step it up and become a "ran."

3)Leave enough money for the last races. After losing what I was willing to lose, I sat out the last three races, with some money still in pocket, because I decided I wasn't going to make a bad day worse. And then watched as the horses I'd mentally boxed for an exacta won in the 8th race, the winner I'd picked for the 9th won (I tossed the Capote horse after the jockey switch) and, most heartbreaking, the exacta I'd picked came in in the 10th race, with the horse that won coming in at 17-1.

4)It is not at all satisfying to think, "I found a 17-1 long shot" when you didn't bet on said 17-1 long shot.

5) I'm becoming an okay handicapper; it's my betting strategies that suck. And a successful day at the races seems to depend on being good at betting as much as handicapping.

6) The ride home on the train can be full of quotable quotes. My favorite I overheard, from a grizzled old bettor, "When that horse reached the sixteenth pole, I knew I was beat. So that one didn't hurt at all because I knew I was beat by the sixteenth. When they lose right at the finish, that's when it hurts." And that's good distraction from brooding about not betting the 17-1.

7) Whatever you do, don't make eye contact with the crazy man gibbering next to you. He may assume that his monologue is, in fact, part of a conversation the two of you are having. And continue gibbering, but now in your direction.

8) The best way to wash the taste of a bad racing day out of your mouth is by having dinner and drinks with your best friend and then having a sleepover where the two of you, even though you are both over 30, stay up until 1AM watching VH-1's countdown of the top 40 Heavy Metal songs of all time. Because it's much better to go to sleep with "Iron Man" stuck in your head than with a chant of "17-1 and you didn't bet it!"

9) "Iron Man" is a very deserving number one heavy metal song of all time.

10) Tell yourself there will be other 17-1s. Even though you don't believe it right now.

11) And most of all, I think it's a truism that when you really could use the money is when you're least likely to win it! So don't go to the track when you're feeling poor.

Volume One was after Belmont Day. Volume Three will come after I finish licking my wounds and go back out. Which will be sometime after I purchase "Iron Man" from iTunes so I can listen to it and get it out my head.

[GPK]

If you could have heard the sadness in your voice when you called me after those last few races....

Its great your learning something every visit though hun.

[GenuineRisk]

Originally Posted by GPK

If you could have heard the sadness in your voice when you called me after those last few races....

Its great your learning something every visit though hun.

Eh, frustration more than anything. I was so mad at myself for not looking again at the Form and reminding myself how sure I was of that last race... well, I hope the Eastern European man I talked to on the way out to the track was smarter than I was- I told him I liked the horse, so maybe he took my suggestion!

But yeah, college cost me a whole lotta $$$$ for my education. Why would learning to handicap be any different?

[GPK]

Originally Posted by GenuineRisk

Eh, frustration more than anything. I was so mad at myself for not looking again at the Form and reminding myself how sure I was of that last race... well, I hope the Eastern European man I talked to on the way out to the track was smarter than I was- I told him I liked the horse, so maybe he took my suggestion!

But yeah, college cost me a whole lotta $$$$ for my education. Why would learning to handicap be any different?

Very true....

you swing by the sight on the way home??

[GenuineRisk]

Originally Posted by GPK

Very true....

you swing by the sight on the way home??

Not yet- I have to do a sea lion narration with Jack Hanna at an event here at the zoo. I'll walk by it on my way from work to the gym and email you tonight.

[infield_line]

I know how you feel, and have wanted to kick myself when I did not box and an exacta came in with a combination that included a low price contender, but the reality is that many times when the favorite comes through, which they often do, you barely get your money back on a $12 box. A good number of legendary players, the late Dick Mitchell and Mark Cramer and others, point out that where you have several legit contenders, and assuming that the public is not absolutely correct........i.e., the favorite is going to win.........that you should only box the combinations that will really pay. Lots of stuff can happen, and you need to remember you get 6 $1 exacta boxes for the price of an underlayed $12 4 horse box. Don't get me wrong, sometimes I don't follow my advice, but I almost never include a 2-1 or less in an exacta box, I just pass or sometimes box 2 or 3 longer price horses and hope the favorite ends up taking a dump... If you feel that you have 4 real contenders and they are all paying more than 3-1, then I personally would box away. It it hits you should get your money back plus enough to make the risk worthwhile.

Find "Money Secrets at the Track" the standard for discussing betting value.

Others I'm sure will weigh in but that's my view.

Good luck, we've all had those days where we just said "damn...."

Chris

Originally Posted by GenuineRisk

Beautiful weather, frustrating day at Belmont on the 8th.

What I learned:

1) Know what wagers you are best at and stick to them. I brought a small amount of money to wager, as husband and I are pretty broke right now, and had lost it all by race 7 because I tried some trifectas. I need to stick to wins and exactas at this point. I'm better at those.

2)Always box your exacta. Because if you don't, that horse that has been an "also-ran" for the first 8 races of his career will choose to step it up and become a "ran."

3)Leave enough money for the last races. After losing what I was willing to lose, I sat out the last three races, with some money still in pocket, because I decided I wasn't going to make a bad day worse. And then watched as the horses I'd mentally boxed for an exacta won in the 8th race, the winner I'd picked for the 9th won (I tossed the Capote horse after the jockey switch) and, most heartbreaking, the exacta I'd picked came in in the 10th race, with the horse that won coming in at 17-1.

4)It is not at all satisfying to think, "I found a 17-1 long shot" when you didn't bet on said 17-1 long shot.

5) I'm becoming an okay handicapper; it's my betting strategies that suck. And a successful day at the races seems to depend on being good at betting as much as handicapping.

6) The ride home on the train can be full of quotable quotes. My favorite I overheard, from a grizzled old bettor, "When that horse reached the sixteenth pole, I knew I was beat. So that one didn't hurt at all because I knew I was beat by the sixteenth. When they lose right at the finish, that's when it hurts." And that's good distraction from brooding about not betting the 17-1.

7) Whatever you do, don't make eye contact with the crazy man gibbering next to you. He may assume that his monologue is, in fact, part of a conversation the two of you are having. And continue gibbering, but now in your direction.

8) The best way to wash the taste of a bad racing day out of your mouth is by having dinner and drinks with your best friend and then having a sleepover where the two of you, even though you are both over 30, stay up until 1AM watching VH-1's countdown of the top 40 Heavy Metal songs of all time. Because it's much better to go to sleep with "Iron Man" stuck in your head than with a chant of "17-1 and you didn't bet it!"

9) "Iron Man" is a very deserving number one heavy metal song of all time.

10) Tell yourself there will be other 17-1s. Even though you don't believe it right now.

11) And most of all, I think it's a truism that when you really could use the money is when you're least likely to win it! So don't go to the track when you're feeling poor.

Volume One was after Belmont Day. Volume Three will come after I finish licking my wounds and go back out. Which will be sometime after I purchase "Iron Man" from iTunes so I can listen to it and get it out my head.

This is very good stuff. I appreciate the honesty and ability to keep a sense of humor.

[Kasept]

Originally Posted by GenuineRisk

1) Know what wagers you are best at and stick to them. I brought a small amount of money to wager, as husband and I are pretty broke right now, and had lost it all by race 7 because I tried some trifectas. I need to stick to wins and exactas at this point. I'm better at those.

2)Always box your exacta. Because if you don't, that horse that has been an "also-ran" for the first 8 races of his career will choose to step it up and become a "ran."

3)Leave enough money for the last races. After losing what I was willing to lose, I sat out the last three races, with some money still in pocket, because I decided I wasn't going to make a bad day worse. And then watched as the horses I'd mentally boxed for an exacta won in the 8th race, the winner I'd picked for the 9th won (I tossed the Capote horse after the jockey switch) and, most heartbreaking, the exacta I'd picked came in in the 10th race, with the horse that won coming in at 17-1.

4)It is not at all satisfying to think, "I found a 17-1 long shot" when you didn't bet on said 17-1 long shot.

G/R,

All really good responses and insights to your day, or any day, at the track.. A few thoughts..

Re: 1. -- I've always felt that once you become a regular horseplayer that sticking to what has led to your biggest success should be your "meat and potato" wagering strategy.. For me, for years, it was exacta betting. It's not so much about being able to get a handle on the "right horses" as it is about confidence in your decision(s).

Re 2. -- Always box, but box with a weighted approach. If you love a certain horse at a square price and think a bomb could sneak into the exacta, there's no need to have them weighed equally in your wagers. If you love the "1" horse, a 1 (4-1), 2 (3-1), 3 (8-1), 4 (16-1) $2 four horse exacta box at $24 is better apportioned out boxing the 1-2-3-4 for a $1 ($12) and keying the 1 over the 2-3-4 for $4 ($12). Now when your 1 wins and your 2-3-4 come 2nd you've got a total of a $5 exacta. If the 1 comes behind the 2, 3 or 4 you've still got it covered, and if the 2-3-4 somehow hook up you've got a big hit.

There's no reason to spend 12 $2 increments, weighing every combination equally, when you believe the "1" is the most likely winner... Under the box scenario, you've given all 12 combos an 8% chance of coming in when your handicapping suggests to you that there is a far great likelihood than 8% that the 1 wins the race... By weighting the plays, you've apportioned 50% of your race investment on the 1 on top, 25% on the 1 second, and 25% on the 1 out of the exacta with your other horses 1st-2nd...

Re 3. -- Much like weighing exactas, weigh the races. Your budget should be split into "prime plays" (races where you have a TRUE opinion, a good feel) and "action plays" (races where you have a far less certainty of outcome but want action because you're at the track and it's what you're there for..). I've heard 66%-33% splits for "prime-action" budgets, 80-20, etc.. Your call. But by having a certain amount set aside for races you just don't "expect to win", you'll be certain to have money at the end of the day for a prime play that you absolutely "came there" to bet.

Re 4. -- See above.. "Action" budget dough is specifically for those plunges on 17-1 overlays.. Now when you spot something like that, you won't let it run without you because you don't have to worry that if it was a bad hunch it has cut deply into your bankroll. You have a bankroll for this kind of play which gives you the confidence to invest in 17-1 shots. Remember that with a 17-1 paying $36, you can be wrong 17 times, right once and break even... Be right twice and you've doubled your money...

Just a few thoughts about how I've dealt with those same issues developing as a horseplayer...

[2 Dollar Bill]

All very good stuff everyone has said. Just remember one think its ok to pass on a race and get ready for some value in another race. I never used to bet Daily Doubles... (thinking... HEY I have to pick TWO winners in a row) but I have found betting Daily Doubles can be very money making... Usually one of the bets is a fav. and if you find a nice 8-1 in the other race you can cash a nice ticket. Most people hammer both favs. in both races and want a $12.00 DD...[go figure]

Another thing to remember Years ago when Atlantic City had a FULL meet, I used to drive down from philly and the guy I would go with & before leaving the car He would put a Dollar Bill in the ashtray... Yes I had to ask.. ""why you doing that "".. and his answer was ...."" So we have the (dollar) toll for the way home on the expressway.."" .. See you allways have to think about the way HOME from the track..... L O L !!

[hoovesupsideyourhead]

ive found that many trials come down to a non specific angle. if you happen on to the right one at the right time and fire , it can make a a pos roi..but the waiting is maddening...many books say that if your intent is to win 100.bucks and you achieve it in the first race ..you should quit..my contention is you fire at the next good value with the houses money..and if you should win again take a allowance for yourself back to the fund....for me playing and winning 2 races out of 10..is not good..but long range is the real play...value is not a horse with a stamp on it...it could be a chalk 6/5 that you know will win vs these..and using him as a key in pick 3s ext thats how value is created....just my oppinion...hooves

[SentToStud]

These things I have learned....

1. If there is a low-priced favorite in the race that looks worthy of its odds, it most likely is. Don't fight it. Pass the race. In races like this, you cannot beat the takeout.

2. Your best (I'd say only) single-race opportunities are in races where you believe there is a false favorite, especially if you expect that favorite to be out of the exacta or/and trifecta. These are your best single-race bet opportunities.

3. KAsept is dead-on about "Pressing" on the horse you like the best. Having said that, when betting exactas, avoid betting combinations that will "get you even" for a race. In the long run, you are better off using those $$'s on more profitable wagers.

4. Do avoid place/show wagering. There is little sense in spending more money on a race in the hope of getting some of your money back. As with the above, keep those $$'s in your pocket and use it on a more profitable wager later. In other words, a Win/Place wager is not one bet. Look at them separately. Betting to place? No way is betting to break even, or make/lose a little money on a race a winning strategy.

5. When betting to win, you must press your advantage when given the opportunity. If you think a horse's fair odds are 3-1 and you are willing to bet it at 5-1, you need to bet more as the odds increase.... i.e., $10 @ 5-1, $12 @ 6-1, $15 @ 10-1.

This runs counter to some popular thought that longer priced bets should be considered as "action" plays and not "prime" wagers and somehow are only worthy of nominal wagers. I understand but do not ascribe to that strategy as I see it more as a "Bankroll Preservation" tactic as compared to a winning strategy.

Thank you for sharing your experiences. I am most certainly at least distantly related to the muttering fellow on the train.

Thanks again.

Good luck!!

[GenuineRisk]

Awww... who gave this thread a 5-star rating? You guys are so sweet...

And thank you for the responses and advice-- it's AWESOME. Please keep it coming. I'm going to save them all for future reference.

And hey, a bad day at Belmont is still usually a lot more fun than a good day most anywhere else.

[Buffymommy]

This thread is such a nice read. Glad to know I am not the only one out there who has used up the gambling money before the last race is over!

And 2 Dollar Bill, I too have put the $$$ for the turnpike in the ashtray so I don't spend it.


Thanks for sharing your thoughts Genuine. It is very insightful.

Originally Posted by Dixie Porter

For what it's worth (and believe me it's worth a fortune):

Patience + Money Management = Financial Success

Any imbecile can pick winners, and they do. The only way to keep score is by how much money is in the BOX at the end of the fiscal year.

There is NO RUSH to win big money. Avoiding "shoot for the moon" exotics is a leg up. If you want to EARN, INVEST.

It took me 10 years to get through to a HOF trainer that his idea of "go with a little and come home with a lot" was pure HOGWASH.

For the last time, "patience is a virtue".

Remember, they play the National Anthem EVERY day...................

Good God. Sounds like I could have posted this. I dont know whether to be happy, or go shoot myself because this is the same guy that is enamored with the Bold one, who in turn has shown himself to be a single minded drone.

[2MinsToPost]

Jack Hanna, local guy made it big!

Originally Posted by GenuineRisk

Not yet- I have to do a sea lion narration with Jack Hanna at an event here at the zoo. I'll walk by it on my way from work to the gym and email you tonight.

[2MinsToPost]

You might consider this option which I have started to employ on occasion.

Pick up the form the day before and pick your spots, plays whatever you call them.

The next day you show up at the track get your scratches, make your necessary adjustments and then go the window and play the card. Now, you have all your tickets in your wallet/purse and are ready for the day. It will require patience and something to do between races.

[2 Dollar Bill]

Originally Posted by Buffymommy

This thread is such a nice read. Glad to know I am not the only one out there who has used up the gambling money before the last race is over!

And 2 Dollar Bill, I too have put the $$$ for the turnpike in the ashtray so I don't spend it.


Thanks for sharing your thoughts Genuine. It is very insightful.

Its funny how we make sure we have $$$ to go home....LOL I remember one time searching under the seats, under the floor mats , Blocking traffic before we could ""throw"" the money in the toll bin... Never thinking to save a buck or two for the ride home...

[TheSpyder]

Let me know when you write a book, I'll buy it!

[westcoastinvader]

My Dad (and Mom) always made sure we had money to buy a modest dinner out on the ride home from the track. Or perhaps a late night dinner if we were playing the trotters.

That was a big deal to 'em, perhaps cause they had their kid (and eventually kids) in tow.

I think we hit all the good eating spots on Route 8 between Cleveland and Akron.

I remember really enjoying going for midnight dinners at a family restaurant in Northfield after the trotters and pacers (which I NEVER bet these days).

I also remember fondly a place just outside of the old Ascot Park I posted about in another thread (that AGAIN no one seems to remember or care about!....... :-) ) On the corner of Bath Road and Route 8, just behind the Ascot back stretch, was "The Chickery Chick." We had dinner there after the final 8th race, or perhaps the 9th if it was a long card.

I think I had chicken at The Chickery Chick. If not, it seems like I should have!

[westcoastinvader]

Genuine Risk

More kudos for the thread start.


One thought I have in retrospect having read the posts here is that I think I really started enjoying my realtime time at the track when I realized that laying off races was part of the ideal strategy. In races w/o action, I really enjoyed the paddock, the sights, the smells, etc.

If I'm at the track live, I rarely watch the TV wagering action. If I do play other tracks than the realtime one, I select only one track....and usually for just a couple plays.

I go to the track with a couple serious plays in mind, but do seek some fun "action" as the day goes on. For lesser bucks.