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Money Management Simply Explained.
A quick but important introduction:
You will see the Exacta mentioned a lot on this site but it is for a reason as the win rate for boxed exacta’s averages between 30% and 50% of all races run each day. And if you can get the exacta logic will tell you that if you have the field for 3rd you then have the trifecta and if you have the field for 4th you then have the first 4. Dependent on field sizes and thanks to the flexi dividend if you tie the race up right you can get as much as 33% of the div for as little as a $10 investment.
Don’t know which races to bet or what bet type to try? Basically the real key is Money Management which means you only bet 5% of your bank on each race you want to wager on until you make your profit for the day and by limiting your
risk you are actually giving yourself a greater chance to win and once you have reached your target goal for the day just pull out. Pretty simple stuff really but a lot of people just don’t get it which is why the bookies are doing very well and always have done so.
But how do you approach it? Well this is an example i will use for exacta’s but it works for any bet type. My bank is $200 and am basically spending either $6 a bet or $12 a bet so its either 3% of my bank or 6% of my bank. I am taking the exacta’s either boxed for $6 for 50% or $12 for 100% or in the format of depending on the selections but for example if the selections are 1, 2, 3, 4 I take 1 and 2 for 1st and 1, 2, 3, 4 for 2nd which costs $12 for 200% of the dividend. So basically if I am betting in $6 units it gives me 33 chances to hit a good result or series or results to get me to my goal for the day which is $50 or I bet in $12 units which gives me 16 chances to reach my goal. Today I outlaid $24 and picked up a good dividend in the first 2 races of $46.10 x 2 which equals $92.20 which gives me a profit of $68.20 and I pulled out at that point. The best time of the day is to bet early and if you check the results you should see patterns developing and you should be able to decide at a glance if something is working at a particular meeting or not. This all applies to any bet type it does not matter if it’s win bets or trifecta’s or first 4’s. Really its pretty basic stuff and if I can get it anyone can. Limit your risks and you are on your way to success and the real trick of the whole exercise is pulling out when you hit your target which is not hard to do in practice over time. Spend small and make those little profits which all add up to you reaching your goal for the day.
And before we really begin…
Had a lot of questions come through the website and to answer the main point.
Think of your betting as a business and it’s your business to make a certain amount of money each day. Aim low to begin with say $20 bet small and reach your goal and at the end of the year you would have $7300 even if you only bet once per week that is still $1040 a year. See small wins really add up and I am of the opinion that the less you spend the better. You can actually have good wins spending a small amount of money. Use your head and remember the key idea of when you make a bet you are really in fact making a business decision.
Hope this helps and remember always set achievable goals and you will succeed.
Really on this website this is the best advice I can ever give you.
Set your goal for the day be it $20, $50 or $100 and NEVER push it, just walk away once you have reached it. Discipline is always key. The longer you play the greater chance of you losing. 98% of gamblers lose and only 2% win consistently and these 2% understand completely the concept of “Money Management” and this link is for the really detailed article about Money Management. And a simpler article about this topic of “Money Management” has just been added the bottom of this page. And one final thing please always remember to NEVER bet more than you can afford to lose.
Now let’s get into it all…
And please remember these are only system suggestions which are working well a certain percentage of the time and you can read about those percentages below. You may have your own methods which work well for you and my advice is once you have found a system that works for you stick to it 100%. And it is important to also point out if you are going to try a system you have to really enjoy the bet type you are playing so for example exacta’s on the site might do well but if you don’t like exacta’s don’t do it as people are generally only successful in life doing things they enjoy doing.
Warning! If you think that betting on every race is a good idea then you should NOT use this website. The percentages given on the results pages on the site and in this rating how-to guide are only an overall measure of strike rate consistency and if you not OK with the concepts of money management and goal setting which you will read about on this page then quite honestly this site is just not for you and you should not be using it because the truth is you will not make a fortune in a day, but you can turn those small wins you do have into a lot of money over the course of an entire year.
The selections are given in there exact order of preference and the Top Selection has a high win rate generally from the lowest win average of 20% to the highest win average of 40% of all races run each day followed by the Second Selection of which the Top 2 win rate generally ranges between 30% to 50% followed by the third section and so on. The best strategy may be to back the Top Selection as it has a high win rate and if you wanted to cover your bet and greatly increase your chances of winning back the Second Selection as well it all really depends on price. You will see the stat’s for the Top Selection and the Top 2 Selections given on all of the Results Pages. If you are looking for even more value then you might like to look even wider at the third and fourth selections but again it all depends on price and sometimes it can also depend on winning betting patterns which may be able to guide you in the right direction so you should always keep an eye on the results for the races run in comparison to the tips given.
Please also note you should also pick the races you bet and a high percentage of the time this will be dictated by price the selections are paying. A bad strategy is to bet every race. That will not get you anywhere and does not make any sense at all.
Remember the ratings are given to you as a guide and if you are taking exotic bets which you can read all about below please don’t be afraid to add in your own selections as well.
I have had a lot of messages from visitors about how I bet and to be quite simple it is just a numbers game. I mainly play Exactas and have just started taking Trifectas with a lot of success. If you had been taking the Trifectas with the selections 4 by 4 into the field and if you had done that for example on Wednesday the 4th of March you would have scored 20 trifectas in total with the top payer being over 1 grand. For a flexi percentage say $10 you would be buying depending on the size of the field say a 10% share and some of the bets would have provided a small loss, some would have provided a small profit and others would have provided a very good profit. Really the whole secret is once you have hit a result that puts you in front and gets you to your target goal for the day simply pull out and forget the races until the next day or week. It really is all just a numbers game but what should also be mentioned is that you need to pick the races you bet on and price should really dictate that most of the time. Why would you invest in a race if the chances of you getting a loss return are high. With Trifectas you do however have the advantage of bankering the favorite or favorites to maximize your potential return and you can read about those methods below.
Another interesting way to play the Trifectas is to banker the Top Selection if it is a clear short priced favorite into the next 3 selections for second into the field for third.
Or you could banker like I do quite regularly just the Top 2 Selections from the rest of the selections for second into the field for third as I have also been having a lot of success with this method recently and it costs very little money to play.
And finally if all the selections are all at a good price or you just want to chance your hand you could banker the 4 selections for first by the 4 selections for second and the field for third. But please be aware that the best way to use this method is in a bigger sized field of runners.
These are some of the methods I use and for $10 depending on field size and what combination I use I can get as much as 33% of the dividend.
If the Top Selection is a clear favorite and if the selections are 1, 2, 3, 4 you would have:
- 1 for first / 2, 3, 4 for second and the field for 3rd.
For the main way I play myself using the Top 2 Selections and the biggest trifecta so far i have gotten is $4000 for a flexi percentage, but this does not happen everyday of the week, you would have if the selections are 1, 2, 3, 4:
- 1 and 2 for first / 1, 2, 3, 4 for second and the field for 3rd.
* From the stats from the website on a normal day you would get the trifecta using this method between the lowest average 20% to the highest average 40% of all races run. Not that you would bet every race and you would be picking the races you are actually betting on as well, but just remember to set you goal target for the day and once you reach it pull out. Also keep an eye on the Results Pages on the website and if you see the Winner result as (1) or (2) and there is an Exacta result given as well then this is a race you would have won the trifecta on by using this method.
And if all the runners are at a good quote or you just want to chance your hand you would have if the selections are 1, 2, 3, 4:
- 1, 2, 3, 4 for first / 1, 2, 3, 4 for second and the field for third.
* Please note trifectas in this format are only really suitable in bigger sized fields.
Exacta’s: This is my favorite.
With the Exacta’s I normally just take the Top 2 Selections from the 4 selections for a couple of times both if the selections are clearly ahead in the betting market so for example they are the 1st and 2nd favorite. Or if the Top Selection is really short I will just banker it from the other 3 selections for a couple of times the dividend. Or I will simply just box them all up if they are at decent prices and again its a numbers game hit a decent result and pull out. But in saying that its a numbers game you do need to pick your races why would you invest in a race if the potential for a low or loss return are high and you can more about finding value in races below. With Exacta’s they do not cost a fortune to bet and i just stop betting once I have reached my target money goal for the day and it all is really as simple as that.
There is also a good rule when it comes to Exacta’s if the runners are short banker and if they are rough (i.e. all at a reasonable price) then box, but you really should just use your best judgment here as even if you box the 4 selections and a $3 winner gets up and the runner which runs second is paying for example $5 the win the Exacta will quite regularly pay above $12 which means a profit for you, it won’t be a huge profit but every dollar adds up in this game.
* If you were to box Exacta’s with the selections from the site you would on average have a win rate of between the lowest average of 30% and the highest average of 50% of all races run each day and it costs $6 for 50% or $12 for 100% of the dividend and you would be doing quite well overall. Some of your successful bets would provide a small loss, some would provide a small profit and then others will provide a really good profit and once you have gotten that really good result simply pull out. You can check all of the Exacta dividend’s on the Results Pages to get a feel for just how well they pay. But as a side note to this you really should be picking the races you are betting on as to find value. With Exacta’s you do have the advantage of when there is a short price favorite or favorites you can banker the selections to maximize your potential return and you can read about these methods below.
To banker the Top 2 Selections which is the normal way I play if the selections are both very well in the betting market and if the selections are 1, 2, 3, 4 you would have:
- 1 and 2 bankered for first from numbers 1, 2, 3, 4 for second and this costs $6 for 100% of the dividend.
And to box all the selections you would have:
- Numbers 1, 2, 3, 4 boxed and this costs $6 for 50% of the dividend or $12 for 100%
Or alternatively you may prefer to just banker the Top Selection if it is really short:
- So it would be number 1 bankered from 2, 3, 4 and this costs $3 for 100%
* One final thought about Exacta’s is that I find I have really a lot of success betting early in the day, why I don’t know, but this seems to happen very regularly. I also use Ubet to place my bets which is the new name for the Queensland TAB and I am really happy with the dividends they offer and they are also the dividends that are also posted on this website.
I was talking to Bill MacDonald today who does the ratings for the website and he told me that what he likes to take in small fields is the First 4 in a 2x4xfieldxfield system and for $10 that will buy around 4% to 5%. I did a very quick check just on the first 2 races I saw and they paid $562 and $395 and he said that $1000+ payouts in small fields are not uncommon. There are so many possibilities and this is just another one. You don’t need a fortune to turn a profit there are just so many combinations you can use for a small amount of money just remember your target money goal for the day and pull out as soon as you have reached it.
There are again multiple ways you can wager the First 4 with the selections.
First 4 example:
If the Top Selection is very short you would take if the numbers are 1, 2, 3, 4:
- 1 bankered for first / numbers 2, 3, 4 for second and the field for 3rd and 4th.
The main way which Bill plays and has success with using the Top 2 Selections:
- 1 and 2 for first / numbers 1, 2, 3, 4 for second and the field for 3rd and 4th.
And the third alternative would be to have:
- 1, 2, 3, 4 for first / 1, 2, 3, 4 for second and the field for 3rd and 4th but his can be a more expensive proposition and may not be worth the risk.
* I know of some people who use the website and take first 4’s for 1% which can be as low as a $2 spend it all depends on field sizes and if they manage to get a $2000 result, which does happen from time to time, they get back $20 which is a profit of $18 which proves that you don’t need big sums of money to turn a good profit.
We have a lot of success with Quadrella’s on the website and to take every selection in each leg will cost $14 for 5% of the dividend. We have achieved many big wins with the biggest collect being in excess of $20000.00. I have been also having success lately taking the field in the last of the Quadrella which will mean a lower percentage dividend, but on the upside you also have the potential for a greater payout as long-shot’s seem to have a habit of appearing lately in the final leg of the Quadrella. Just keep in mind Quadrella’s are a low percentage bet which is why they pay so well. They are a good deal of fun for a small amount of money and can provide a good return but they can be risky which is why you should always play them for a small amounts.
I hope this information has provided you with some good ideas and strategies you could put in place on how to best use the ratings and if you have a question or problem we are only a click away at Contact Us and you will get an answer. The most important thing you should remember and I have mentioned it numerous times above, is set your target goal, reach it and then pull out and come back tomorrow. This is the best advice I can ever give you. Set your goal for the day be it $20, $50 or $100 and NEVER push it, just walk away once you have reached it. Discipline is always key. The longer you play the greater chance of you losing. 98% of gamblers lose and only 2% win consistently and these 2% understand completely the concept of Money Management. And please also always remember to NEVER bet more than you can afford to lose.
Money Management In Quick Simple Terms:
You can read the the entire article here on Money Management and it will give you a lot more information and ideas. The following article is just very quickly what money management means personally for me.
So For Example:
My personal starting bank lately is $200 and I spend either a $6 or $12 bet because I play exacta’s and my goal for the day is to make $50.
So $6 = 3% of my bank
And $12 = 6% of my bank
With $6 I get 33 chances to win
And with $12 I get 16 chances to win
And I know I am going to more likely hit a really good result or series of results in those amounts of chances as the odds are really more in my favor.
If you dash into betting with $200 and you start betting for example $50 a bet that’s 4 bets only, 4 chances only and 25% of your bank. You might get lucky but then again you might not and you are going to lose your bank quickly if something does go wrong as the odds are less likely in your favor.
So wouldn’t be smarter to get more chances which always helps and at the same time you are protecting your original bank because you are only betting in the same increments.
A lot of people swear by only using 1% of there bank but 5% really seems to be the normal which most experienced gamblers I know use and I would recommend using the 5%.
Remember in horse racing it’s all about managing risk and about giving yourself a greater chance to make it to that target goal you have set for yourself.
You don’t need a big starting bank $200 is a lot of money and mind you I have not lost my starting bank in over 2 and a half years since I started doing this full-time. I know people who use the website who have a starting bank of sometimes $20 and just bet on win bets and take the exotics for small flexi dividend percentages having a little fun and trying to make a goal they have set for themselves.
And one final point if you do put a money management plan in place like the one I have just mentioned I can say with a 99% degree of certainty and if you stick to it, you will never have a day again where you can say you lost all of your money on the one day, it just won’t happen, that is unless you have the unluckiest run of losing bets recorded.
And that’s it.
I hope all this information really helps you.
Thanks and happy betting always,