Can a consistent long-term profit be acheived in horseracing markets?

[jcs11204]

Originally Posted by Bobby Fischer

Are you trying?

Think about this example: A man in the grociery store is selling bundles of CASH. One catch!, you can only spend $1,000.

$7 cost you $6.95
$6 cost you $6
$5 cost you $4


Why did you buy the $5 dollar bundles?

Why didn't you load up on the $7 dollar bundles?

i am trying to understand.. i am not just ripping you like others. i just dont see it....

[Rupert Pupkin]

Originally Posted by jcs11204

i am trying to understand.. i am not just ripping you like others. i just dont see it....

If a person is seriously trying to make money in the long run, they will only make bets that they think they have an edge on. If you have a horse that you think is the best horse in the race and you estimate that he has a 50% chance of winning the race, then you would have an edge betting him if he was 6-5. If he was 4-5, you would be making a losing bet in the long run.

I have no idea whether Bobby knows what he's doing or not. But I have no problem with his methods or reasoning. His thought process is correct. If you consistently make bets with a positive ROI, you will make money over time. What it will come down to is whether or not he knows what he's talking about when he makes his estimations of what chance a horse has of winning or hitting the board or whatever.