The best horse racing betfa system is the one that you can live with without losing your mind or your bankroll. That isn’t always easy. I’ve tried progressive betting, martingales, flat betting and Kelly betting to name a few.
If you are anything like me, your betting is behind your handicapping when it comes to success. It is one thing to pick winners at the races but quite another to make it profitable. Making money on horse racing is no easy trick.
That being said, based on my years of experience, here are a few thoughts and tips for making a profit while betting the ponies.
A lot of it depends on your nerves and your frame of mind. Some days you feel brave and seem to be able to meet the world on its own terms and whip it while other days you just want to cruise along with no major ups and downs or hassles.
I once used a modified version of the Dutch Shultz method to play exactas and a progressive betting scheme. It worked good but when there were long runs of losses, the progressive betting could get pretty pricey. I used this for several months and was way ahead of the game, but like all good things in life, it came to an end. I started to lose and watched my profits get eaten up in chunks. When it became apparent that it was over and time to call in the dogs and pee on the fire, I was still ahead but not by much.
Worst of all, my ego and spirit were badly damaged. There are few things in life worse than winning a chunk of change only to have it disappear as quickly as you built it up. Therefore, I don’t recommend that you always use progressive betting, but there are times when it is great.
The form of progressive betting that I now use is a daily form. When I feel good and have located some good looking horses using the “Willies Workouts” method, I will bet the first horse of the day to win. I use my daily bankroll and distribute it evenly over as many horses as I have to bet. If I have 500$ and 5 horses to bet, I’ll start with a base bet of $100 on each horse.
If the first horse wins, I spread the winnings from it over the next four bets. So if I got $400 for the win bet, I’d divide it between the next four horses that are left that day. Now I am betting the original $100 I had set aside for each horse as well as the $100 I won. My base bet is now $200 for each horse remaining for that day.
If either of the next horses wins, I also distribute that money over my bets. As you can see, if I hit a streak, I can make some serious money, of course, I can also lose it all. That is the problem with this form of betting. You can have a few winners for the day but still go home broke, not a good feeling or ego boost. If you flat bet and show a profit by winning a few bets, you can go home with a profit, but not as much as you make by using the system I just outlined.
When I am doing this form of betting, I suppose you could call it a modified parlay, I always stop and assess the situation before making the final bet of the day. If I am way ahead I might take a profit and put it in my pocket and then bet whatever is left. That way, even if the last horse loses, I go home with a profit, or at least what I started the day with.
There are other days when I am just not in the mood for the roller coaster ride and will flat bet each of my picks, if I can get the odds I want, of course.
What it all boils down it, is that there is no right or wrong way to bet, just the way that works best for you and your temperament. IF you keep your old programs and go back over them experimenting with different forms of betting, you may find that a progressive or parlay betting system would have made a better profit than flat betting. That is a thought and you might want to try it, but beware, progressive and parlay betting can be rough on the blood pressure and bankroll.