I think this was an earnest question...
start slowly... understand that even for experts, the random variability of racing can lead to losing streaks... a weekly budget that fits within your circumstances....
This will get a lively discussion started, and I don't know anything about where you are on the handicapping journey...but since you asked about how much to set aside, this would be my advice:
don't bet overlays/favorites... if you can't help it, put 7-1 or better horses underneath in $1 exactas... you'll bleed slowly boxing horses between even money and 2-1
Learn to and try to indentify false favorites.... I just love a horse that is being pounded at 3/5 or less.... it just spells opportunity. Any horse that is truely that dominant in a given field is there for a reason, usually not because the trainer just want to come in an crush a bunch of dogs...
don't use other people's pics... no exceptions
Don't make "chipping" bets... $2 -$3. You should be betting enough to make a real difference if you are right, and enough that you are really making an effort to cap the race... trust me $2 here... $12 exacta box there adds up. Most advise no more than 5% of whatever you are playing with
Bet win/place if you are playing horses at 7/2 and up.... it's up to you if you want to overweight the place bet... e.g. $5 win, $10 place. Longer prices come in 2nd much more often that 1st
Until you really feel like you can consistently pick contenders, don't play multi-race bets if you are not prepared to wager enough to really cover.. I have lost a lot by being too "cheap", to cover a horse in a pick 3 that I thought had a chance, because I was unwilling to go from $36 to $48
Learn to understand how the pace of race will probably play out, and understand how the horses in the race will probably react to the speed which will unfold in the race..
If you get a nice hit and are up for the day...put down the mouse, enjoy it, come back tomorrow fresh.....
Finally... study. There is no substitute for reading PP's and and seeing how the race unfolded, but some references/books that I highly recommend
Handicapping 101 Brad Free
Handicapper's Condition Book James Quinn
Common Sense Handicapping Dick Mitchell
Horseplayers, Life at the Track Ted McClelland
Once you have digested these.... explore Mark Cramer, Davidowitz, and pretty much anything written by James Quinn...
let the flames begin.....
I/L
__________________
"I got a home equity loan....every year I throw a big party and stick the house with the bill!"
Homer Simpson
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