Most Likely Mistakes Made By Beginning Horse Race Handicappers

One of the biggest mistakes people make is having no understanding of the logical order of things. By "things", I mean that they must have a logical process for everything, especially in horse race handicapping.

Consider someone who is going to take up golf. One can certainly go buy a set of clubs, get a few buckets of balls, find a driving range and start hitting balls. Over time, they will learn to hit the ball farther and straighter. However, is this the best way?

Imagine how much faster they would develop as a player if they had some real guidance, not just in technique - that certainly has value - but also in the process of development.

Example for golf:

"First, work on proper grip and stance. Then move on to understanding how the club-face impacts the ball."

(Not being a golfer, I have no idea what this process might entail for golf, but I most certainly know what it is for a horse player.)

The typical horse player subscribes to the idea, "If I just keep hitting golf balls somehow I will become Tiger Woods." (Jokes, aside, he is still the best example I can think of.) This is not the likely outcome of "just hitting golf balls."

Not only does one need a developmental plan but they also need a plan for technique. I would not be so quick to dismiss books as learning aides. After all, without the teaching materials of others, you have zero sources for learning anything. For that matter, even a golfer who learns from a book is far ahead of the golfer who learns through just his own trial and error.

Rather, if one is going in on their own, they need to begin with the classic books - Quirin and Brohamer are tops on that very short list in my opinion. The reason these two books are so good is that they are the two major paths to horse racing enlightenment.

From those two you choose a path: basic statistical handicapping or pace handicapping. Now you can narrow your focus to one path, learning all that you can.

It is easy for the highly experienced handicapper to say things like "ignore the books" because they have already read those books; they have absorbed that knowledge. That is what you need to do: absorb knowledge.

I think what the more learned handicappers really mean is to say is that, every horse player will find that the systems and methods in the books will not be enough; that there will be something missing.

Ultimately, players must determine for themselves what is missing and figure out how to get it.

Over the years, Dave Schwartz has written many different artificial intelligence approaches to handicapping. Schwartz software programs help handicappers of all levels to get an edge in horse handicapping. For horse handicapping tips and more information on the products that Schwartz has developed, visit: The Horse Handicapping Authority Website.

If you would like to interact with Dave and to learn more about the world of horse race handicapping you can visit: Dave Schwartz Horse Handicapping Blog.

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The Top Three Horse Racing Handicapping Mistakes You Should Never Make

One of the biggest challenges that most people face when they handicap horse races and try to make a profit is overcoming the vig. In plain English, it is almost impossible to make a profit because you have to pay so much for the privilege of being able to make a bet on a horse race. Therefore, the profit margin does not allow for making even one mistake that can be avoided because that one mistake can mean the difference between success or failure.

While no one is perfect and we each will make the occasional blunder, making errors that could easily be avoided will not only bankrupt you, but also cause you unnecessary frustration and pain. Therefore, let's look at three mistakes that many horse players make.

First and foremost is the lack of planning. Think of a trip to the races or OTB as a financial campaign or even a war or battle, even if it is only a skirmish behind enemy lines. There is probably no other time in your life when you would spend money with little thought or planning and expect to make money, but that is exactly what many people do when they bet on horse races. While luck is a factor, for most it is fleeting and an unknown quantity, so plan and write it down and don't depend on luck.

When I say write it down, I mean write down how much money you start with and a reasonable total for how much you'd like to make for the day. Then write down the names of horses you are following or ones that you feel might be a good bet and write the reason down as well. Whether you win or lose, write down the outcome and whether you wagered on each one and the reasons. Keep your entire day's activities on one sheet of paper and after the day is over put it in a safe place. After you've accumulated a good collection of the daily sheets, review them. You may learn a lot including how to improve your horse racing betting.

Speaking of betting, do you sometimes bet on longshots? If you bet on horses in a wide range of odds, maybe a longshot here, a favorite there, perhaps a mid range odds horse now and then, bet the same amounts on each one. If a horse is worth a bet, it's worth a bet, and if it's worth a bet, in your opinion, then it could win. Granted longshots don't win as often, but when they do, they pay well. You may make as much on longshots as favorites, but you'll have to bet enough to make it pay.

Finally, don't spread yourself too thin. I started going to the races decades ago when you went to the race track and there was only the one track and races to bet on. There was no such thing as simulcasting. You played whatever was available at your local track. That usually meant that most people who attended regularly enough became experts when it came to knowledge of their local track. Can you say that you have enough knowledge of the players and biases and trends at any track to be considered an expert?

If you can't it is probably because, like many people in the age of simulcasting, you wager on many tracks and try to handicap them all. Consequently you become, "a jack of all tracks and master of none." Narrow down your focus and you may win more and lose less.

If you want to learn how a horse owner and insider handicaps just go to http://horse-racing-handicapping.co/ and get the truth about betting on horses and winning. Bill Peterson is a former race horse owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.

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Money Mistakes That People Make at the Horse Races

Here is one of my favorite sayings, "Good money management will get you through times of bad handicapping better than good handicapping will get you through times of bad money management."

That is the truth and whether we horse playing gamblers like to admit it or not, unless we are fiscally responsible, no amount of winners will save out bankroll. When it comes to the financial side of betting on horse races, we have to think like accountants and treat wagering on horse races like a business.

The colorful characters and spectacle of beautiful thoroughbreds, the drama of the thousand and one human interest stories notwithstanding, horse racing, with all its thrills, is still a grind when it comes to making it pay. I found that out as an owner. When you're paying vets and grooms and trainers, as well as buying feed and supplements, you have to keep track of every dime and will have to account for every penny if you want to survive.

What is true on the backside is true in the grandstand and clubhouse. The horse players who keep track of their bets and know what they are doing are the ones who have a chance to make money. Admittedly, it also takes a good systematic approach to handicapping or choosing bets, but it all starts and ends with money management.

I realize that many of you who play the horses don't want to feel like a bean counter at the races. The people who seek recreation and a chance to get a respite from everyday life don't want to account for every penny spent at the races. That's understandable, if your goal is to have some recreation and to be entertained.

On the other hand, if that is how you operate at the races, don't be surprised if you wind up losing whatever you bring into the track, because you'll be playing up against people who take handicapping very seriously and who play to win.

I like to compare the need for profit with the need to gamble to find out where a horse player falls on the scale of professionalism. The more your need to gamble, for whatever reason, the more caution should be used and the more you should limit your race track spending.

If all you want to do is bet every race and see if you can cash some tickets, just for fun, there's nothing wrong with that as long as you only spend money you can afford to lose. One of the best ways to do that is to only bring as much money as you can risk and leave the rest at home. While we're on the subject, leave the debit and credit cards at home, too, because they now have those tempting ATM machines at the races.

If you are serious about making a profit from betting on horse races, then I suggest you start writing down all your wagers just as though it is a business. If you don't want to do that, in my opinion, you are a recreational gambler, and there is nothing wrong with that, as long as you admit it to yourself and only risk what you can afford to lose.

If you want to learn how a horse owner and insider handicaps just go to http://horse-racing-handicapping.co/ and get the truth about betting on horses and winning. Bill Peterson is a former race horse owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.

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Don't Make These Simple Betting Mistakes When Handicapping Horse Races

They say that God is in the details and it's the little things that mean a lot. In that case, perhaps when it comes to betting on horse races, little details can make or break you. In fact, just changing a few simple things may turn your luck around and you'll find a way to finally make money betting on horses.

First of all, however, let's get one thing straight. If you're trying to make a living as a horseplayer you've chosen one of the toughest ways to make money. The simple truth is that there is no easy money to be made playing the ponies. While a lot of pundits and public handicappers will try to tell you that horse racing betting is like finding money in the street, nothing could be farther from the truth.

Money management is the single most important factor in making money at anything you do. I don't care if it's selling fruit, running a restaurant, or playing trifectas and doubles and trying to pick winners. No matter how good you may be at any of those pursuits, if you don't manage your money right, you stand the chance of losing it all.

The first and biggest lesson then is simply this. Have a plan and stick to it. That plan should set betting limits that will keep you in the money through hard times and winning streaks. Bet size should be dictated by the size of your bankroll, not how sure you are of your bet. In plain English, if a wager is worth making then it is worth a full wager unit.

Handling longshots and horses that are favorites or at low odds is one area that a lot of people have trouble with. First of all, do you know which type of runner you make the most profit on? There should be an odds range that you do best at and once you know that, it should be your main betting choice. If you have to see that other people are backing your horse then you are probably insecure and unsure of your choice. If that is the case, then you probably shouldn't buy a ticket on that horse.

While it's true that you shouldn't chase losses, it is very difficult not to place a sizable wager on a favorite late in the day if you've been on a losing streak. Many handicappers get desperate and figure that the favorite is bound to win so they plunge on a big favorite late in the day. Just take a moment and think about that. Why is there so much money bet on that favorite late in the day? The answer is that hundred of other punters are taking the plunge and hoping to recoup their losses.

That means that if that same horse was in an earlier race it might only be a lukewarm favorite. Earlier in the day the favorites get less action compared to their probability of winning because the horse players are still trying to hit something big on a longshot or a horse at a good price. As the day wears on the money goes more and more toward the favorite until it is finally a stampede. Think about that a bit and you'll see that I'm right.

If you want to learn how a horse owner and insider handicaps just go to http://horse-racing-handicapping.co/ and get the truth about betting on horses and winning. Bill Peterson is a former race horse owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.

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