Online Casino Tips
Online Casino Tips - Online Casino Gambling
Horse Race Betting
Online Roulette
Online Scratch Offs
Online Slots
Online Progressive Slots
Free Online Slots
No Download Slots
Online Sports Betting
Pai Gow Poker
Fund Your Online Casino Account
Online Poker Games
5 Card Stud
Omaha Poker
Omaha Hi Lo Poker
7 Card Stud
Texas Hold em
Three Card Poker
Video Poker
Horse Race Handicapping Tips
Horse Race Betting Money Management
Texas Holdem Strategy
Poker Value Betting
Calculate Pot Odds and Outs
Three Card Poker Strategy
Poker Hand Rankings
Online Casino Reviews
All Jackpots Casino
All Slots Casino
Bodog Casino
Casino Tropez
Rome Casino
Win a Day Casino
Mac Online Casinos
Online Sports & Racebook Reviews
Bodog Promotions
Poker Odds Calculator
About Us
Contact Us





Horse Race Money Management Tips

Playing the horses is all about managing risk. When we buy a ticket we are accepting the inherent risk that it will wind up in the trash. We do so because we believe that the reward offered should our ticket win justifies that risk. There is more to it than that, however. We must also manage our funds effectively throughout the day, if we are to give ourselves the best chance to do well financially while having a pleasant afternoon.

It is almost impossible to manage our money effectively unless we have a plan. The best plan in the world, however, won't do us much good unless we follow it. That means that it must have some flexibility and take our personality into account. It should a guideline; not a noose. There are several principles that it should incorporate, however.

1. Our risk should be spread out over several, if not all, of the races.

2. When things aren't going well we should never double up to catch up. Doubling up is more apt to lead to a financial disaster, and preventing disasters is a major reason for having a plan. The time to "catch up" is tomorrow!

3. Should we get off to a good start we must resist the temptation to increase our betting level on the grounds that we are "playing with their money". Trust us. Title passes once we collect! It won't become theirs unless we give it back to them. Raising our betting level simply increases the chances that a potential good day will be squandered away.

4. Never bet a lot to win a little.

5. Don't be afraid to lose. Losing is part of winning. It is the price we pay for the winners that come our way.

Create a Simple Plan

A simple but effective plan can be devised by following the following steps:

1. Decide how much the afternoon's entertainment is worth. So long as we limit our betting to that amount (less expenses such as the program, etc) we can't lose. Even if we don't cash a ticket all day we will have gotten our monies worth.

2. Determine a potential betting level per race. Whether that is $2 or $100 doesn't really matter, but it should be high enough to hold our interest while not being so high that we will feel any compulsion to win.

3. Create a contingency fund by adding two to the number of races we intend to play. This gives the plan some flexibility so that we can take advantage of any unexpected betting opportunities that might develop.

Sound money management principles also apply to the individual bets we make. When playing the gimmicks, we shouldn't use so many combinations that we may lose even when one of our combinations wins. "Insurance" bets should be used sparingly. When our primary bet wins, they dilute our winnings, and when it loses, they too often simply add to our loss. Because of the way the mutuels are computed, it is usually best to bet long shots to win only. The potential place and show mutuels usually don't justify their risk, because they are diluted by the shorter priced horses with whom they share the pool.

Never play a long shot in the first race of a double with a favorite in the second race. It is much better to simply bet the long shot to win. Combining a favorite in the first race with a long shot in the second, however, is okay. The reason for this apparent contradiction is simple. In the double, we are betting the proceeds that a win bet would have returned in the first race with a horse in the second race. It is one bet but think of it as two. If we actually collected the funds that winning 20-1 shot would pay, would we bet it all that a 6-5 favorite would win the next race? Of course not! To do otherwise would violate the "never bet a lot to win a little" principle. That isn't the case when the 6-5 horse wins the first race and the long shot is running in the second.

Another bet that should never be made is a two horse exacta box combining a favorite with a long shot. Once again we are actually making two bets. There is nothing wrong with the favorite wins with the long shot half of the box, but the other half violates sound money management principles. When a long shot wins with the favorite running second the exacta mutuel isn't great enough to justify the risk that the long shot will win but that the favorite won't run second. Besides, there is nothing quite so discouraging as to identify a winning long shot but lose because the favorite ran poorly. A much better way to handle the situation is to simply bet the long shot to win and back that bet up with a straight favorite-long shot exacta.

Featured Online Racebook - The Bodog Racebook
Online Horse Betting  

Why do we recommend the Bodog Racebook?

The Bodog Racebook makes horse racing comfortable and exciting. With over 80 tracks and weekly rebate offers, betting online gives you an advantage. The Bodog Racebook provides race information relative to jockeys, trainers and, of course, which horses have been scratched.

Bodog Racebook boasts the industry’s most reliable, easy–to–navigate horse betting experience, making it the perfect option for casual and seasoned bettors alike.

  • Get a 10% instant bonus when you make your first deposit of $20 or more.
  • Earn up to a 5% Rebate on Your Bets
  • Earn up to $100 cash for each friend you refer
  • The Bodog Racebook offers speedy and efficient payouts.
    On call 24/7, customer support staff

With competitive weekly rebates and friendly customer service staff always available, why bet anywhere else? Visit the Bodog Racebook. If you are from the USA check out the Bovada Racebook for a safe secure online racebook.

Online SportsBetting Info
Why Bet on Sports
Online SportsBetting
NFL Standings
NFL Schedule
NFL Matchups
NFL Betting Tips
NCAA Football Standings
NCAA Football Schedule
NCAA Football Matchups
NBA Standings
NBA Schedule
NBA Matchups
NCAA Basketball Standings
NCAA Basketball Schedule
NCAA Basketball Matchups
Baseball Standings
Baseball Schedule
Baseball Matchups

Online Casino Tips | Online Casino Gambling  © 2004 - 2011 | Privacy Policy | Terms of Use