Horseracing Handicapping Tips for a Small Budget

Do you want to make money handicapping horse races and working with a small budget?  Many people who need to make money consider going to the race track to supplement their incomes.  Gambling, as a form of support or income, is not very reliable, especially if you are strapped for cash to begin with.

But there are some steps you can take if you would like to make money at the races and can only afford $100 or even less.  The first rule of thumb, is be realistic.  If you think you are going to take $100 to the track and turn it into thousands of dollars by handicapping you are probably mistaken.

The reason I say that is because good handicapping means estimating the probability of a horse winning and then finding the horse at the right price so that when it wins, you will make a profit over the long run.  The problem with this scenario is that you are playing against other handicappers who have enough experience and sense to know  good bet when they see one.

Therefore, the margins you will work with will be small and a 10% profit on your bets is good.  Any more than that is "ice cream," as the old-timers say.

When I say 10% profit on your bets, I don't mean profit on your original stake for the day of $100.  I am talking about the actual total of your wagers.  So if you make 10 bets of $20 each, the actual amount wagered is $200.  Ten percent profit on $200 would mean you would leave with $220.  I know it doesn't sound like much, and there are certainly times when you will leave with more, but over the long run, if you make 10% you are doing good.

So let's say that you go to the track a total of 50 times in six months and wager $200 each time.  That amounts to $10,000.  Making ten percent profit on that amount you would make $1,000 profit.  That sum of money isn't exactly exciting when you look at the effort and expense, but it may be realistic unless you swing for the fences or really gamble and take big chances.


By big chances I mean that you not only handicap but also bet on long shots and exotics that offer much more risk.  If you bet your $200 and happen to hit a good pick six, then you will make many more times your money.  The only problem with that scenario is that the chances of hitting a big exotic are easily proportionate to the amount to be won.

In the real world, big exotics are either hit by the $2 bettor who took a chance and happened to hit a big one with his lucky numbers, or a seasoned and well financed player or syndicate that had the money to play so many combinations they practically bought the pool.

My recommendations are that you stick with win bets but put aside a few bucks for the big exotic, like buying a lottery ticket, it will give you a dream and a pleasant fantasy.  The win tickets will put a little jingle in your pocket and help you to practice handicapping, too.

Always set a loss limit for the day and never gamble with money you cannot afford to lose.  Be realistic, while betting on horses is fun and can be profitable, it can also be a problem if you don't respect the amount of risk.

Enjoy your days at the races.