I disagree with Randall, not about the money thing, but about going heavy in the first four races.
I think the first few races of the day are where you have to just dabble and experiment, and get a feel for what kind of day it's going to be, and how the track is playing. For instance, if you can't understand how the horses who won the first few races were even allowed to enter, you probably should scale back and take it easy until things start making sense again.
Here's what I did in '04 with ABOUT your budget..
Early pick four ($30).. Got 3/4.. Don't get me started.. ****ing Speightstown.
Win bet ($20).. On Singletary.. Got lucky here and had a little more to play with.
Cheap pick six ticket ($40).. Ended up getting 3/6 which is better than some people with much larger tickets did.
Late pick four ($40).. Busted when Wilko won.
Late double ($160).. Straight.. Kitten's Joy and Ghostzapper.. Still can't believe KJ lost.
As you can see, I didn't make many bets, but rather focused on the horses I really liked and the exotics I had a strong feeling about.
I'd say this would be the best approach to make $, but at the same time, it requires a lot of patience.
Whatever you decide to do, HAVE FUN!
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