What Are Paper Bets and How Can They Improve Horse Racing Handicapping Betting?

Betting on horses is a skill and therefore requires practice, lot of practice. Handicapping horse races is sometimes called an intellectual sport, like chess. I couldn’t agree more. You might also compare it to golf, in that it is very frustrating and can ruin a perfectly beautiful day outdoors, okay that was tongue in cheek, however, I think you understand what I mean. Handicapping horse races requires practice in order to develop the skill necessary to make a profit from your wagers.

But how do you practice making bets on horses? Paper bets are on method of handicapping and then deciding what your bets would be and making the bets by writing them down on paper. While actually making bets with real money can be thrilling, it can also be expensive. Think you’ve got the horse racing game beaten? Ready to go to the track and clean up? How about testing your theory on paper first?

If you think you are a good handicapper and bettor, try handicapping the races and making 50 paper bets first. Be honest with yourself and write them down and do not change them, once they are on paper. Consider it the same as if you actually handed your money to a teller and you are unable to change the bet.

To put a little more pressure on yourself, and to make it more realistic by being stressful, which real gambling is, by the way, make a commitment that you will not make a real bet until you can show on paper that you made 50 bets and they showed a clear cut profit, no ifs, ands or buts about it. With the possibility of not being able to go to the track or make any bets until your paper bets show a profit, you will quickly learn to weed out those “iffy,” bets and start betting like a true professional.

With that said, however, let me caution you about something else. In horse racing handicapping, as in life, things seldom work out in real life as they do on paper. Therefore, just because your paper bets seem to make a profit, don’t mortgage the house and put it all on your latest system. Slow steady and moderate is the way to make money by using any horse racing system or ability that you may have. When you are betting with real money you will find that you think differently and bet differently.

The whole idea of making the commitment that you wouldn’t go to the track and bet real money unless your bets paid off on paper was to put some real pressure on yourself. There will be real pressure on you when you bet with real money, so getting used to that pressure and seeing how it will affect your betting is very important. The most important lesson to be learned from paper bets, is not only whether your handicapping skills are good, but whether you can take some pressure and still make money betting on horses and the only way to do that is to have something to lose if your paper bets fail to show a profit.

if you don’t want to make the commitment about going to the track, make the commitment about something else that you really enjoy in life and don’t want to give up. Tell yourself that you will give it up until your paper bets make money and then stick to it. Like I said, you will soon learn just how tough it is to make money betting on horses and how you handle that kind of pressure.

Two Golden Rules of Horse Racing Handicapping and Betting

Almost every human endeavor has a golden rule that the participants need to learn in order to be successful. Handicapping horse races is no exception. There are a few truths of the game that every horseplayer will eventually discover, many times by experience. While knowing the golden rules may not make you successful, not knowing the golden rules will almost always contribute to your failure.

There are many ways to arrive at a horse to bet on or an exotic combination, however the golden rules are immutable. They do not change no matter how many races you play or what kind of race you play. Off track or fast track, they don’t change. There are times when you’ll hate them and other times when you will rely on them. Don’t take them personally. They were true before you were born and when you’ve cashed your final ticket, they will still be going strong.

The first rule is that nothing works all the time. By that I mean that any angle you can think of or discover will work some of the time, but nothing will work all the time. There are sad stories of a horse player discovering an angle and playing it on paper for a long time before finally taking the plunge and betting on that angle. He builds confidence, it seems to always make him money so he finally mortgages the agrarian business and puts it all into his new money making wonder only to have the universe pull the switcheroo and to have it stop working.

He pours more and more into it certain that it will start to work again and make him money and guess what? That laughing sound you hear is the god’s having a good yuk on the hapless gambler because he didn’t believe it when he read that almost anything will work some of the time, but nothing works all the time.

Rule two is value and all that it implies when it comes to finding bets. Good horseplayers don’t look for good horses, they look for good bets and in my experience they are hard to find. What makes a bet a good one? Profit over the long run is the answer. It is a racing and betting scenario that when played many times will return the bettor’s original investment along with a profit. Some call it ROI. Because things are always changing at the track those profitable scenarios come and go which leads us back to rule one.

BE creative and always keep an open mind. Keep looking for the next good angle and don’t bet a dead horse when the universe hits the “off” switch and the angle goes South, so to speak. Know when to play it and when to pass it up.