There is no magic formula for picking winners, but there is a method to profit from horse racing betting. That may sound counterintuitive, but it isn’t, because there is a difference between choosing winning horses and choosing good bets. The difference between a horse player looking for winners and a horse player looking for good bets is the difference between a successful player and a gambler.
Regular players take comfort in being right, and sometimes even take comfort in pitying other losing players. Winning players are comfortable making a profit and usually keep their ROI and other secrets to themselves. You will hear many horse players complain about how difficult it is to make a profit or the losing streak they are on, but rarely will you hear one talk about their positive return or the method of choosing those good bets. .
Let’s clarify what a good bet is before we talk about the magic formula to determine that bet. A good bet is one that will show positive performance over the course of a season or match. That means if you place the same bet under the same circumstances on the same track, it will return all the money you wagered plus a win.
I realize how difficult it is to find these types of bets, so don’t think I’m being simplistic. Making money betting on horse racing is one of the most difficult things most of us face. It requires certain skills, such as good math skills and the ability to take accurate notes, either by using a good computer program or simply by keeping printouts that you write down. Fortunately, much of the record keeping is now done by the major purveyors of past performances.
You may have been confused by that line about keeping notes. Ratings? You can ask. Yes, notes. How else will you know if a bet is profitable unless you can check its recent history? If I bet on the horse with the fastest pace figures in his last two races at Aqueduct for 6 furlongs on the indoor track, will those horses show a positive return on outright win betting if they finish 3-1 or better?
See what I mean? Maybe those horses don’t show a win every day, but in races where you find those horses and flat bets on them to win, knowing they pay a win is a way to make money (Keep in mind that was a hypothetical example and not a real example of making money)
While other horse players are trying to figure out if those horses will win, the smart bettor is trying to figure out if it’s a profitable bet. So the magic formula is the number of bets multiplied by the amount bet on each horse minus the return on all bets. In other words, if I find 20 of those horses and bet $10 on each one, I will have spent $200. Now I add up all the winners and what they paid and see if I made a profit. If so, then I just found a good bet and this is how punters and horse players make money. However, to be honest, it should be noted that it is still a risky way of making money and you should never bet money that you cannot afford to lose.