| If you handicap horse races and just bet for fun, then | | | | handicapper. While every bet on a horse race is |
| you are taking chances knowingly and, if you are a | | | | gambling, we must treat it like a risky investment. We |
| responsible person, are only betting with money you | | | | speculate on horse futures and that is a form of |
| can afford to lose. On the other hand, if you are | | | | gambling, just like the commodities market. |
| handicapping horse races for profit, a serious horse | | | | One way to control our money and our own emotions |
| player, you are betting with money that must be | | | | is to treat each dollar with the respect it deserves. If it |
| managed to bring in a profit so you can survive. | | | | was your last dollar or last dime, how would you bet? |
| The difficult part of being a serious horse player is that | | | | While it is true that scared money never wins, it is also |
| you have to care about every bet and must not get | | | | true that wild betting and uncontrolled wagering always |
| too comfortable with losing. On the other hand, you | | | | lead to financial ruin. |
| can't go on tilt each time you bet and lose or you will | | | | In order to keep the right perspective, we must look at |
| continue to lose even more. The problem is that | | | | the big picture and realize that our horse racing |
| money is not just a logical, rational issue in our lives. It is | | | | handicapping career spans many races and years and |
| also an emotional issue that affects all parts of our | | | | no one bet will make us or break us. On the other |
| lives. | | | | hand, we are building that career one bet at a time. If |
| Think of how you use money and your finances for a | | | | you were building a brick wall, wouldn't you be careful |
| moment and you'll see what I mean. For one thing, as a | | | | to place each brick carefully? How many bricks can |
| horse player, you are using money to keep score. So | | | | you afford to carelessly place in the wall without the |
| when you win a bet, or make a profit from your horse | | | | right mortar or alignment? The same is true of your |
| racing handicapping, you feel successful and more | | | | bets. |
| secure. However, when you lose a bet, you suffer a | | | | In order to build your horse racing handicapping career |
| loss of self esteem. It is inevitable, but must be | | | | you must place each bet carefully and make sure that |
| controlled and kept in its proper context. | | | | your judgment was not faulty. Even when you use a |
| Professional horse players cannot afford so called, | | | | well thought out horse racing system or method you |
| "fun bets." They erode our profits and also wind up | | | | will have some losses but in the end, your wins will |
| feeding the gambling Jones that can destroy a good | | | | more than offset your losses. |