What kind of Bankroll management would you suggest to use when betting on horses?
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You have to be able to estimate accurately what % of the time your horse will win to use Kelly but its the best there is IMO
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good luck with the kelly system. way too complex for me...try my win-exacta system. example 5.00 win on non-favorite and 3 1.00 exactas with that horse and 3 others..plus a 1.00 exacta box with win bet horse and 1 of the other 3...if you hit one upgrade your bets by dividing payout by number of races you plan to play...since this is simulcasting era there is never an end of races till the day ends...if you can make it to 10.00 win bet and 10.00 in exactas you are doing fine...Comment -
I dont have a so called bankroll management system, I dont play into small pools or pools I dont think I can make a buck. I hate playing chalk unless everything else is long and can make a buck in the tri or super, somtimes you have to use the chalk in the pks. I like to play in the pk4 or .50 pk5 pools. Depending on the sequence and how many I have to cover is how I construct my ticket. I dont limit myself to only wagering a certain amount in certain plays, I think the main thing is being a smart gamblerComment -
Dont bet horses
It is the biggest sucker bet in world unless your playing at an exchange in EuropeComment -
Gambling is gambling..... if you can't estimate your win % then you shouldn't be betting horses (or anything else). Remember the juice in horseracing is a killer. That being said if you just want to play around, try to find winners then play key horse wheels in exacta's and tri's. You can get a nice payoff with minimal money being spent.Comment -
An emotional game like horse racing with lots of tough bad beats, the concept of bankroll is pretty dangerous imo, it's not like betting ball games.Last edited by Art Vandeleigh; 06-14-11, 02:34 AM.Comment -
Kelly will bust you for sure if you play horses. I would only invest 5% of bankroll in a day if you have a serious roll. I assume you are an American if you can play on BetFair and lay off then go nuts.Comment -
It's impossible to bust using kelly since it's a fractional betting system.
OP a bankroll and having any money management system is based on you having an edge. If no edge exists it's a waste of time even thinking about it. You have to be honest with yourself. If you bet for entertainment and no edge exists take a minimal amount %1/to whatever you feel comfortable with losing. %1 will maximize the utility of your betting money but you should think of what is available to you as a budget instead of a bankroll because you will lose it eventually.Comment -
Exchanges you can get a usa horse at 6-1 or more and at track it closes 4-1
Game overComment -
for me depends on amount per race needed for the day. I am a tri better comfortable at $24. per race giving me 2 keys usually taking one horse for 1st & 2nd costing $12. each. Leaving the house with funds @ $10 per race is sufficient for common bettor.Comment -
exchange betting is the boring way to go..you are lucky if you get paid though...just remember a bad day at the track is better than a good day anywhere else...if you don't think so wait till your stuck going to a june wedding and ask yourself what am i doing here when i could be at the racetrack...screw this couple who will only get divorced in a year or end up hating each other after they get sick of each other....Comment -
if you really want to manage your bankroll you won't bet the horses...Comment
