Very few handicappers are able to pay their bills from their winnings at the track. Why is that? The answer, which many regular readers may be growing tired of seeing in print, is quite simple. They make the mistake of wagering on every race, which, when it comes to betting on horse races, is equivalent to committing suicide.
The individuals I have met over the years who consistently come out on top fall into two general categories. One group will spend hour-after-hour looking at past performance records in search of the right horse, in the right situation, and then, after checking the current odds to make certain they are receiving good value for their bet, they pounce. The second faction are known as “tote board watchers,” and they make their money by looking for situations where the perceived value on one or more horses in the race has increased significantly as post time approaches; horses ignored, by the general betting public, for whatever reason.
The key to both approaches is finding situations similar to those which have produced a profit in the past. Professionals find instances where they have a statistical advantage over their fellow bettors, and they use those advantages to add to their bankroll on a consistent basis. These people are disciplined and mentally sharp, and they use a method or system to find the right opportunities to make money. To do anything else is blindly taking a shot in the dark and hoping for the best, which, to the best of my knowledge, does not work when investing in the stock market, real estate, etc., so why would anyone assume it will work when betting on horse races?