Insurance

by Ed Meyer

posted on July 27, 2010 in Educational Articles, General Discussion, Handicapping | No Comments >>

As horseplayers, we leave plenty of money on the table. If you take a look at some of the powerhouse numbers on the tier levels, you will see some plays that may need a play outside of your gimmicks. Think about it…..

You make a handful of incredible Daily Double tickets. How many times have you started the wager off only to watch the second end go down the tubes? This is where you have a 10-1 or better win the first leg, and you have 3 or more runners in the second. Now, this stands to be a handsome score if it hits. But, if it does not, you get some expensive stationery, and a story to tell your friends…..

Idea time… Take your D.D. wagers, and put them in your top pocket. Calculate how much you put into the race, and what the payouts stand to yield…. Now, here comes the magic. You take a few big price horses, and spread 50% of your initial DD wager cost over some of the other possiblities in the race. The aim is to turn a profit if your D.D. goes south. You protected your wager. This is where we leave so much money on the table and wonder what happened. Give it a try. Example – I bet $20 in the doubles, so I wager $10 to back it up. Make that $2 win wager on a few monster prices….Or, it can be $5 to win on two runners to keep your odds better…..

I hear so many tales of players who won’t play a place bet. I love to see a sweet 12-1 pay $8.40 to place… Sometimes, it pays quite a bit more. The day that I won’t take 3-1 on my money, is the day that I stop betting horses.  3-1 or better is a deal!

I like to play parlays. For the many that see me at the track, you know about my place parlays. I don’t get to make a 20 minute visit once a week. I work at the track, and I get to see many races. There will be days where I won’t bet, and others where I never leave the windows. It all depends on how much I have to do, and how much is in my pocket. Making a place or show wager eliminates some of the risk, and keeps you in the game. I like to make nice 3-5 horse place parlays. I have written blogs about this in the past. They are fun, lucrative, and can cash out nicely if played well….

This Saturday, I will speak to a group of new female racing enthusiasts. They are new, and you can bet I will show them the art of the parlay to get them started. For any group that makes a trip once a year, I get them to make a group play. They put up $2, and there are 50 in the gang… We make a $100 place parlay, and then flip it over 4 times. You will see blue-haired old gals and C.E.O’s getting into the game. A group split $1,200 after a four-time parlay. Those 60 folks were hooked for life. So, if a newbie coming once a year can win money, what can you do as a seasoned player?

Just don’t leave money on the table, and be sure to backup multi-race plays. It never hurts, and the first time you save yourself and turn a profit, I think you will see the light….

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