| Some people think picking winners and making a profit | | | | excellent investors. They know that the probability of a |
| betting on horse races are the same thing. But to a | | | | horse winning compared to the odds is directly |
| true professional horse player, those two activities are | | | | proportional to the profit or loss generated by the bet. |
| related, but not the same. While you have one group | | | | If you can assign odds to each of the contenders in a |
| who will handicap a horse race and then bet the horse | | | | race and have the discipline to only bet when you find |
| that they think is the best to win or perhaps in exotics, | | | | a horse that is going off at what I call "fair value odds," |
| other will assign odds to each horse in the race and | | | | you might be able to eke out a profit at the horse |
| then work with that line. | | | | races. I say eke out a profit because there are a lot of |
| The second group is much more likely to make a profit | | | | shrewd horse players out there who are doing the |
| than the first group because they have identified the | | | | same thing and they will bet a good horse down to the |
| most important factor in profitable wagering. If you | | | | bare minimum. |
| really want to make a profit on horse races you have | | | | Learn to rate a horse's chances of winning and you |
| to not only rate the horses in the race according to | | | | will have cleared the biggest hurdle in horse racing |
| their ability, but also figure out what fair odds are for | | | | handicapping. Learn to only bet when the odds are fair |
| each runner based on its chances of wining. | | | | and you will have cleared the biggest hurdle to making |
| That equation is the key to profits for good horse | | | | money betting on horses. |
| players. They are not only good handicappers but also | | | | |