Archives for January 29, 2019

Handicapping Tip of the Day #47 – 5 Ways to Conserve Wagering Funds

Handicapping Tip of the Day

Handicapping tips from agameofskill.com

by Rich Nilsen

One of the biggest challenges horse players face is the ability to manage their money and wager properly without losing focus.  Fail in any aspect of money management and the result is typically disastrous.  This year’s Cheltenham festival offers for new customers will keep you from failing to manage your funds correctly. Here are a few quick tips that will help you stay on track by conserving your wagering funds and not wasting bets on races you shouldn’t be playing.

  1. Stay Disciplined – Start with a defined bankroll for a set period of time and refuse to add to it.  ATMs and deposit options are out of the question.  Treat that money like an investment fund and work with it to turn a profit.  Have a game plan to start and stay disciplined in your wagering.
  2. Pick Your Spots – It’s alright to play every race if you have a small ‘Action Bankroll’ available.  You can use that to make bare minimum wagers if you lack discipline and absolutely have to have some action on a race.  However, the most important thing is to spot play and hammer those races accordingly.  Keep in mind that it’s simply impossible to have a good or strong opinion on every race. You have to pick your spots.
  3. Avoid Playing Out of Proportion – If your spot-play type of wager is $50 on a race, don’t play $200 on a race because you really love it for whatever reason.  Keep your best bet plays in proportion to one another, otherwise you risk damaging your bankroll and possibly even going on tilt.
  4. Choose Your Races Wisely – play to your strengths.  If conditioned claimers are not your thing, then avoid them at all costs.  If you excel at maiden turf races, then be sure to start with those races when you begin your handicapping for the day.  Choose your races wisely and your bankroll will be rewarded for it.
  5. Variance Happens – Understand that you’re not going to win every race, and worse yet, losing streaks are part of the game.  One of the best horseplayers in the country that I know has a stop limit.  If he loses a set amount of money, he stops for the day.  It’s a simple rule and he sticks to it, no matter what.  If it’s a good enough rule for a guy who successfully puts millions through the pari-mutuel windows every year, then it’s good enough for us.

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NY OTBs could shed horse racing operations

Off-Track Betting agencies in Nassau and Suffolk counties and across New York could shed their horse racing operations – their main function for nearly 50 years, but also a source of deficits in recent years – under proposals unveiled by the POS Gov. Andrew M. Cuomo last week.

OTBs would have greater flexibility to operate under Cuomo’s proposed 2019-2020 budget, as they contend with declining racing revenues. The budget proposal would allow OTBs to decide to get out of horse betting entirely or merge with other OTBs, officials said.

OTB officials and experts say Cuomo’s proposal, which must be approved by the state Legislature, may make it possible for betting agencies to pursue bigger moneymakers, such as video lottery terminals and, perhaps eventually, sports betting.

But at this point Cuomo’s proposals are general, and do not set guidelines for what the changes would look like.

“The whole industry is on the phone, trying to figure out what does this mean,” said Phil Nolan, director of Suffolk Off Track Betting.

OTBs were established in six locations in the 1970s to pass along profits from horse betting to local governments and to reduce illegal gambling. In Nassau and Suffolk, the OTBs have significant numbers of patronage employees.

OTBs simulcast races, take telephone and internet bets and operate automated betting machines. In Batavia in Genesee County, Western OTB manages a racetrack at Batavia Downs.

But the OTBs have struggled in recent years as horse racing has declined in popularity and competition has grown from casinos in other states, officials said…