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by: Bill Peterson
There are lots of problems that people encounter when they set out to handicap horse races. If they are strictly interested in picking a winner with little thought of making a profit, then all they have to do is find the horse that has the most speed and recent form. That is usually the horse with the lowest odds in the morning line. But if he or she wants to make a profit from his or her picks, then life becomes much more complicated.
Money has a way of complicating everything, doesn't it? How many people think they would have an easier and simpler life if only they had more money only to find that having more money makes life more complicated? The stories of lottery winners are a perfect example of that. Many find that the thrill of winning soon wears off but the problems of dealing with all that money and so many people trying to cheat them goes on.
The same is true of handicapping. Sitting down with your past performances or in front of your computer and sorting through the races, looking for your favorite angles, may be an enjoyable way to spend your morning. But when you start making real money bets, especially if you lose a few, it takes a lot of the carefree pleasure out of it and stress and worry soon set in. That is when you realize the biggest problem handicappers face. It is simply making it all pay. Why is that?
Many people are good at picking winners, but still lose money playing the races. The biggest challenge for any handicapper isn't learning how to handicap horse races, it is finding a way to make money from it. That isn't as easy as it may sound, no matter how good you are at picking winners. The reason is that money and betting are complicated in ways that picking winners is not. While a horse's form cycle may change from race to race, overall, what you see is what you get.
But such is not the case when it comes to betting on horse races. About half of all the money wagered on a horse race isn't totaled and added to the pools until after the race goes off and you can no longer bet. So when you are shopping for a good bet and basing your decisions on the odds on the tote board just a few minutes before post time, you are looking at half or even less of the money wagered. You will not know the final odds until after the race has started and the mutuel pools close.
Back in the days before pari-mutuel wagering, legal bookmakers would give you odds on a horse and that was what it paid, no matter what. In other words, when you bet it, you knew exactly what it would pay. They also took less out for profit because they competed against each other for your business. That is why horse players, good ones, made a profit and that is exactly why it is so hard to make a profit now. The race track and state have a monopoly on your bets and you don't know what you are buying. I don't want to discourage you, but that is a terrible way to invest money.
You not only have to get good at projecting how the odds will change after post time, but you should also know which states take out the smallest amounts and give the horse player the best chance at making a profit.
If you want to learn how a horse owner and insider handicaps just go to http://williewins.homestead.com/truecb.html and get the truth. Bill Peterson is a former horse race owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.
article source: ezine articles