The Two M’s…..this week’s Past the Wire column for AmWager:
The Two M’s
By Jonathan Stettin
When you play the horses today you have a plethora of opportunities to go after. Back in the day before simulcasting you were pretty much stuck with your local track and whatever wagers, pools, and takeout they offered. Things are very different now and you are hit with options not just throughout the country but literally spanning the globe.
When tackling this great game you’ll hear a lot of talk about handicapping, and of course that makes sense. If you can’t handicap whatever else you do won’t work. You will also heat much about ticket structures. This is another important and even crucial aspect to your game. What you don’t hear a lot of talk about, but what is equally important is your money management. The two m’s are vital.
Whatever your bankroll is for the day, week, month, or year you had better be prepared to manage it. This holds true as it increases or decreases throughout whatever time period we are dealing with. With all these tracks and exotic wagering menus running simultaneously if you don’t pick and choose spots wisely and allot the right amounts to your key wagers you will get swallowed no matter how good a handicapper you are or how you structure your bets.
If you ask 10 different players how they manage their money you will get your fair share of answers. All of us have styles and preferences. I’m a big fan of whatever works for you but that said you need a game plan, consistency and discipline. Without those you are done. Stay home or shut down the device. You can thank me later.
Let’s use a mythical $100 bankroll for a day at the races to illustrate how I attack the game and have for many years now. Bear in mind, we may play for different reasons. I don’t play for fun or recreation. I play to win. To beat the game. To make it count so my approach may not be for everyone. It does and has worked for me though.
First of all I limit my study to one or possibly two tracks for the day. I’ll peruse the meets I follow, and see where I think the cars and fields are best suited for a score. At that point I will seriously handicap the cars. Let’s say it is a 10 race card for all intents and purposes. It really doesn’t change my approach regardless of how many races they run.
I will spot the best horse or maybe two horses I think have the best chance to win. If they are in two races that are linked in a pick 4 or 5, or maybe 6, that simplifies things. Two singles in a multi race bet, for a total of $80 or 80% of my bankroll for the day. Whatever amount my $80 allows with the two singles, be it 50 cents or $5 that is what I’ll play the bet for. My other $20 will be spent on the other races in the card. There are times I’ll put the entire bankroll into the one bet. Often actually, but the 80% rule will work for most.
If the horses can’t be linked, I’ll go after the one I like better. That decision could be based on price, but more often than not will be based on who I feel is more likely to win. I will find a way to create some value with a winning horse. A losing horse offers no value, just an exit to the car singing Another One Bites the Dust. I never saw the point in that.
On days where my $80 goes after one horse, the other $20 will nexuses going after the other horse who I did not give the nod to. I’ll watch and take notes on the other races, but the two I like best are the two who will get my investment. Sure you need patience and control to spend a day at the track this way, but if you aren’t supplementing your play with handsome rebates you’d better learn to do it or find a bottomless well.
When I decide to go after a horse, I look at the horizontal and vertical wagers and see where I can get the best shot of a score if I’m right. That’s where the $80 will go.
HIGH FIVE: Zac Purton, if you don’t know this name already you should. You can read our story on Zac below:
LOW FIVE: Kentucky law makers, and everyone who sat complacent, or unaware Kentucky was taking away gambling losses against gambling winnings.
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