I got an email from a long time blog reader and contributor. He is trying to be a winner at betting and he has been keeping track of his wagers this year. I found it a cool note. Especially the ending:
Thought I'd give you an update on how the horseplaying is going. Over the year I am down but I had a lot of fun. The first half of the year killed me, I was pretty bad and didn't really know what I was doing. So I ended down most of the year. I did cash out a few times but never really finished above $300 (starting with $50). All year maybe on 3 occasions I bet above 700 in a night before losing my $50. That was a goal, because then I'd get about $40 back in a rebate via Premier Turf Club. Most times I would lose the 50 before that. I made a ton of action bets, which killed me and over all discipline was and still is pretty bad..... It has to be the most important factor, IMO.
Kept reading your blog for tips and followed the links you provided. I was reading a thread on Paceadvantage called something like..... "Winning At The Track". A lot of guys on there said they only bet straight wins. That surprised me. I always bet a lot of large ($20) place tickets and the odd time equal show tickets, but no one on there really did that. So I looked at my player tracking at found out that I was down huge overall for the year at place tickets (it turns out winning at 3-1, when your 18-1 hits the top 2 is quite a great investment). I also found I was up overall with my tri's. So that is where I decided to go. Get rid of place and show tickets, stick with win, ex's and tri's. I pretty much bet tri's one way and it has worked out ok. I pick a winner and then try to pick a horse that will hit 2 or 3.......so 1-3-all,, 1-all-3, for example; trying to hit about 12-13% of the tickets. I did find out from reading on your blog that picking longshots on top, doesn't really make sense and I have found that generally to be true. Though at some small tracks sometimes the 8-1 shot should be the favorite.
Anyhow..... in the last month since dropping the place and show tickets and sticking exclusively with win, Tri's and ex's. I am up about 1k. I have wagered $2970 and got back $3892. Up in both Wins ($507) and tri's ($585). I thought I stopped betting place tickets, but did lose ($47) there. Best of all, on 3 different occasions I wagered over $700 including $1500 last night, making smaller bets all evening.... I have never came close to that.
Well that's the update... the discipline is still bad..... still way to many action bets. So I am going to go after that next.
I enjoyed this read. Our game is a puzzle and in a lot of ways is just like golf, in respect that you are always trying to get better and can never really beat the game. This player has gone from messing around, throwing around some cash and losing, to working on the fundamentals: getting a rebate so he has a better bottom line, bet tracking, analyzing ROI by type of bet, and working on bet size. Then of course he is working on the nasty thing we call discipline.
It is what keeps most of us coming back.
Anyway, well done young man. Keep it going!