Realistic Expectations Lead to Horse Racing Bets Success
Whether you call it investing or playing, horse racing handicapping and bets is very risky and usually leads to a loss for the horse player. If you compare it to other styles of playing or investing, however, how does it hold up? What should you expect you’ll cash in on your bets?
First let’s take a look at many forms of playing. Beginning with lotteries we find one of the worse table bets on the market for the gambler. The odds of ever Data Toto Macau hitting the big payoffs in the numerous state lotto’s are staggering. You may only invest a few dollars, but the payback is still really small, just pennies on the dollar. While you may claim that the money that is lost on the lottery goes to support municipalities, the reality is that those funds have to go through a lot of channels before they make it into state and local coffers.
The structure that supports and maintains the lotteries in many states is expensive so the good that the money purportedly does is watered down, similar to the actual money which make it back to those who purchase lottery tickets. Instant scratch tickets usually do show the odds of winning in all the facts on the back, but it is only there because the printers are forced to show you just what a lousy bet it is.
At the horse backgrounds, if you always bet the favorite, you will lose needs to be takeout may be along with perhaps a few points more. Let’s say the takeout is 18% and you lose another 7 points due to the favorite being over bet. That means without handicapping, just playing the horse with the lowest chances, you will lose about twenty-five cents on the dollar. Try buying $100 worth of lottery tickets and making $75 back.
While playing in a casino may be exciting, if bright lights and loud sounds are to your choice, most casino games are poor table bets as well. Those big glitzy casinos didn’t get built off non-profit donations. These were built off the nickels and dimes and hundred dollar bills that find their way into the casino and never find their made use of out again. Most people who approach a casino with $100 do not walk back out with $75.
On the other hand, and here is where we actually start to make some sense of all this, what do you expect you’ll make when the chances are 5-1 against? If you bet on a horse at 5-1, how often are you really going to win? Even very good handicappers realize that they are lucky to make 10 % profit. While this is not much, how do you handicap a slot machine game or lottery ticket? You can’t. You can work very hard and make about 10 %, or perhaps a bit more if you are a good or lucky horse racing handicapper, but you just can’t improve much on those other risky table bets.