Horse Players

[richard burch]

Originally Posted by Rupert Pupkin

That would be 2.5% which is very good. If you are making hundreds of bets a year and you have a positive ROI you are doing well, considering the take is at least 16%. That means he made at least 18.5% without the take.

If someone who knows nothing about horseracing heard that a guy made 2.5% for the year on his total bets, they would not realize how good that is. As Junanan said, if you stick $5,000 in a racing account, you could probably end up betting at least $100,000 for the year. So if you bet $100,000 over the course of a year and you made 2.5% ($2,500), in reality you really made 50% on your money, since you only put $5,000 in your account.

In addition, if you are a big bettor and live in a state that allows rebates, you can make plenty of money breaking even. I know a group that bets over $100 million a year. They break even but they get a 10% rebate. You can do the math on that.

Thank you for the detailed and informative response. It's clearer now.