Easy Money

by Ed Meyer

posted on August 26, 2010 in General Discussion | No Comments >>

I am just like you. I love to play the races. It doesn’t matter if it is cond $4,000 or the Breeders’ Cup. But, I have friend who likes to gamble, or as she thinks…. Somewhere, or sometime, a smart person has told her it is like a giant A.T.M. If you are needing cash, just go to the track.

I have asked three really good friends when they were placed in losing positions. They all told me horror tales of when they took on a partner, and one was playing for another for a percentage of the winnings. Both agreed, it was hell…..

My pal is a great gal. She loves to gamble, but hates to lose. She even told me that it is a family tradition to find someone else to blame. Yep, she really said that…. I wouldn’t have told anyone if you tortured me for days. The embarrassment would have been intolerable, but for her it was tradition.

She came up with a great plan. She would put up the money, and I would make all of the bets. I would get a good percentage if we won… Sounding good so far? It did to me, or maybe I just needed the cash. But before we begin our journey, I ask you how much do you weigh?  Now add in how much your partner weighs… Now add them together, and that is the amount of poundage that is levied upon your shoulders. If things weren’t tough enough, now you have added weight that will buckle your knees, kill your back, and strip you of any dignity you have left.. But off we go….

I will preface things with placing in The World Series of Handicapping at 40, 41, and 43 out of 900. Each year, there was a check involved, and you were congratulated by many. There were so many good people at the contests, and one cry baby… Guess who was sitting at my table?  She wasn’t satisfied with winning money, getting a check, and being mentioned in a major magazine. Hell, we were “BML” or big money losers….

I am not bragging, but just as you, I have had Pick-3’s, Pick-4’s, and hit my biggest win wager in California at the Breeders’ Cup. It was not the million dollar payoff she read about, and she was upset. We have qualified, and won monies, but if she loses, she turns to me and begins to question why.  I can’t say I haven’t been warned. But, I was having a good time even though she was ready to jump off the bridge.

Here is my advice to anyone who takes on a money partner. Don’t! Go it alone, and if you do not have the money, save up and wait. Real gamblers know losses are part of the game. It is the foolish that believe that gambling is for making extra money. I never have understood, but trust me.. I have seen the light….

I was introduced to racing by my dad. He never complained, and we lost more than we won. I guess that was part of the lesson, and if you tuned into Andy Beyer a couple of weeks ago, you would have heard that he went broke more than the law would allow, and he is considered the father of innovation. Long story short. Keep your friendship, and forget about the gambling. The pain will not last as long, and if they lose, they will just blame it on you and they can move on… Being close does not matter. If it is not a Warren Buffet move, it is a “BML.” Just say no, the venture is not worth the try…..No such thing as easy money.