The Little Book On Watching Horseracing
By Harold Washburn

BETTING ON ALL FAVORITES

There is no doubt that public handicappers those who are employed by the track to both set the "Morning Line" and make selections are experts. The popular misconception amongst the illogical, uninformed horseplayers is that... IF... you follow their selections, you cannot lose. That is nothing more than a gross misunderstanding of "the way to play the game". Oh, they are good so are those that sell "Tip Sheets". But, even the best of them cannot select more than one winner in every three races. If you wager on a horse, you expect a fair return on your investment. So many track patrons follow handicapper's selections and tip sheets that a reasonable return on a given horse which is a favorite is not achieved since most of those favorites that do win go off at a price below what they realistically should be, they are underlays.

Let's look at a GOOD DAY at the track with favorites:

Parking, admission, program, a Racing Form and a $2 bet on each of nine races (if you are a $2 bettor) will cost you about $24 including wagering money. Suppose, realistically, the day's card looked something like this...

Race 1.) odds of 3/2 won and paid $5.00
Race 2.)odds of 2 to I and lost
Race 3.)odds of 6/5 won and paid $4.40
Race 4.) odds of 2 to I won and paid $6.00
Race 5.) odds of even money won and paid $4.00
Race 6.)odds of 6/5 and lost
Race 7.) odds of 2 to I and lost
Race 8.) odds of 3/2 and lost
Race 9.) odds of 6/5 and lost

You will have had 4 winners and your total amount returned to you will be $19.40.

YOU WILL HAVE LOST $4.60 WITH 4 WINNERS. WITH MONEY MANAGEMENT AND SOUND HANDICAPPING, YOU WILL NOT FALL VICTIM TO THIS TRAP!!!
 

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