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Essential Money Management Strategies for Horse Betting
By Ron Weber
Millions of people all over the world will bet on horse races this week. Most of them will lose money over the bet. We all know that. But it really doesn't have to be that way for those who really want to make money instead of losing it.
It is sometimes amazing to see how people lose money on horse races just because they don't have a consistent plan to make money.
In this article I will discuss a simple strategy to accumulating your wins in the horse races, in a way that will allow you to take a few losses, and still come out ahead in the long run.
First, you need a good betting system that had clear rules as to picking a winning horse.
It can be a very simple system, or a picking service with a good winning average.
No picking system is perfect. In fact, you'll be very happy to find a system that gives you a favorite to win at a place bet at %70-%80 of the bets. That's enough to make you very wealthy, if you follow it and implement a rigorous money management system.
Here's how I recommend you go about it:
You will start with a betting bank of say $100. You betting unit is 1/20 of that - that's $5.
You use the betting unit to bet on place bets. You can also split the betting unit into 2 units of $2.5 each and use one for place bets and the other for win bets. After your bank had doubled, you also double the unit.
So if you reached $200 after a month or so, you double the betting unit to $10.
When your betting bank doubles again (to $400), you can increase the betting unit to $20 - always maintaining the betting unit at 1/20 of the bank.
This simple money management system will allow you to grow your betting bank over time with little risk. Even if you take a loss here and there, you still have plenty of money in your bank.
You will need to resist the urge to increase your bets after a loss This is where most punters lose money. Stick to your money management plan and you will be profitable over time
The above just some plain tips, but if you really wanna win, you should
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