Hi TheWalk
I mentioned this a couple times in my last post, but I can't recommend this more than anything. It's very important to keep good records and records that you can understand
Finding trends are difficult because there are so many variables to look at and it can be very hard to judge when any one variable works. Different tracks, takes, field sizes, type of races, odds off and on and on and on. Good understandable records are something you can always go back to. It sucks, but always try to record info as much as you can. One way is to have the race printed out and list the final odds and payoffs.
Once you find a trend on a maybe say a 2,000 race sample you can verify the trend on a new fresh different sample size, like maybe say about 1,000 to 1,500 races. Of course you would like to see a lot of results to be able to say the trend has a probable chance of working. 100 results is far better than 10 results, but how well the trend makes a profit is also a factor in making it more probable to work in the future as well. Sorry, I'm just rambling about stuff that I'm sure a lot you guys know.
Yeah, I can't beat most California tracks, still figuring that out.
Quote:
Originally Posted by TheWalk
The horse game is just a savings account that I am depositing into and I will cash out my share one day with a big hit.
Right and that is what I was gonna say about Pic 6's. Just a simple example on Pic 6's is even if you lose the take of around 17% in the long run and grind your bankroll into nothing, you can still have a chance at winning some money back. I don't have time to break this down like I should so be very cautious about this type of reasoning, but here it is. Most people will go to the track and win a little or bust. That 17% can grind down to nothing. Betting the Pic 6 is sorta like a forced saving plan.
If you have a payoff of $100,000 and you win it, you can invest that winnings into maybe the Vanguard S&P stock fund which returns on average over the long run, about 10%-12%. Remember though that you can have great swings and depending on your risk tolerance and objectives, if your young or older, but it will make the most money in the long run, but nothing is guaranteed. You can also switch it to the Vanguard Retirement fund at anytime as well as you get closer to retirement age and should accept less risk, you can still make a good return in the retirement fund as well. Alright, so much for the quick investment course.
So anyways you win $100,000 and pay maybe 30% in taxes which leaves you with $70,000 to invest at a 10% return per year is $7,000 then minus taxes around a net of $5,000 to spend at the track or whatever, per year and still have the nest egg. Much more thought needs to be done on this... Smaller payoff might make more sense. Bigger payoff it would be like buying a lotto ticket. You would want a reasonable chance of winning say 30 years of betting and have a good chance to hit like maybe 80%.
You can calculate things better knowing how much you will bet on this over 30 years, payoff amount of Pic 6 and odds of hitting Pic 6. I'm probably missing something, but you get the idea. But remember with a 80% chance of winning over 30 years, 1 out of 5 people will never win, so be careful about this thinking. These numbers are very rough and I'll try to improve on them or if anyone wants to add anything to this, Thanks!
Don't worry, I don't really post that much or this long
Last edited by Pay The Line; 03-28-2012 at 09:21 PM.