Bankroll

[AeWingnut]

How much can you get from your ATM ? That is how you decide what the bankroll should be

[skippy3481]

Kev you got it backwards man, i tell tracks who am i going to bet and they laugh then i give them money see...

[letswastemoney]

It doesn't matter what your bankroll is. You know you're going to the ATM anyway lol

[GPK]

Originally Posted by skippy3481

Kev you got it backwards man, i tell tracks who am i going to bet and they laugh then i give them money see...

only on turf races....

[skippy3481]

I'm pretty solid on dirt, but i couldn't pick the winner of a turf race if it was a horse, 2 dogs, 3 sheep, and my neighbors cat.

[GPK]

Originally Posted by skippy3481

I'm pretty solid on dirt, but i couldn't pick the winner of a turf race if it was a horse, 2 dogs, 3 sheep, and my neighbors cat.

I like the cat at a price.

[skippy3481]

Hey, you know blinkers off and 1st lasix and all....

[infield_line]

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

[skippy3481]

Good advice, everyone has something that works for them. The best thing you can do is read right now. Learn how to read the form and classes of horses. Like they say Pace makes the Race. What really helped me starting off was getting old PP's and a video subscription and capping and then going back and watching the actual races. You get instant gratification on right and wrong decisions and you can see very quickly where your strengths and weaknesses lie. As has been mentioned before, I have a horrible ROI on turf races and a decent one on dirt. So I bet very very few dirt races. Once you find out the types of races you have a good read on you'll be well on your way.

[Sightseek]

Like others said, stick to win or win/place bets. While it has been advised repeatedly on this site that w/p are losing bets, and those people saying so are right, I think for a very small bankroll, learning experience and confidence they are a good place to start.

"Practicing" in free online contests is a great way to develop your skill if you need to keep your bankroll low for now. Slowly you'll find yourself making more complex bets when you recognize races you feel confident in.

[disappearingdan_akaplaya]

in the words of the late great kevin goemmer(rip)"bet with your head and not over it"