Here's a Quick Money Management Tip for Betting Horses
Since the release of Thoro-Profits and Thoro-Angles we have received emails expressing how excited our customers are about the easy winners this amazingly simple horse racing system produces.
Some have even stopped using their $$$ expensive handicapping software and replaced it with the simple rules from Thoro-Profits.
However, although this powerful handicapping system comes with a suggestion for a money management system, no foolproof plan was laid out. The bulk of the system is simply getting to the winners – which has been accomplished.
Well, we want to offer our site visitors a VERY comprehensive and simple money management formula. It will guarantee you NEVER go broke or tap out on a bad day, and make great profits on a good day!
And we all know no matter how effective a horse racing system is there are bad days and good days. For example Thoro-Profits/Angles picks a high percentage of winners most every time, BUT who's to say those winners will not be chalk because that's all the track is giving on that day? Many of us would consider an all chalk day – a bad day.
At any rate, this awesome formula can be used in most ANY gambling venture! Horses [pari-mutual], sports betting, blackjack, roulette etc.
We picked this technique up in our searches both online and offline – we did not invent this. We don't know who did – but some of our handicappers have been using it for years.
First you need 3 pieces of information:
#1 – How much of a bankroll do you have?
#2 – How many races/games are you going to bet?
#3 – What is your approximate win percentage?
We are now going to show you how to apply the entire formula to Thoro-Profits/Angles with hypothetical bankroll but real win percentages (this will allow you to bet all 4 selections and come out ahead!)
#1 Let's say we have a $500 bankroll for the day.
#2 – We are going to play 3 tracks with 9 races each (27 races played)
#3 – Let's say your win percent is 40%.
Next what we do is make a margin of error (yes like the political polls!) here's how we do it.
Take the win percentage 40% (0.40) and multiply is by the win percentage then into the number of races we'll play.
.40 x .40 x 30 = 4.8 the we take the square root of 4.8 (use a calculator for this one!) the square root of 4.8 is 2.19 (hold on to that number.)
Now we take the number of races we are going to play 30 and multiply by .40 we get 12. So at a 40% expected win rate of 30 races one of our picks will hit 12 of the 30 races.
Now, we subtract 2.19 from 12 and we get 9.81 (our 3% margin of error).
So now we round that off to 10. So we base our horse racing betting on 10 wins of 30 races.
Next we subtract 10 from 30 and we get 20 (that's how many losing races we expect to have.)
Now we take our $500 bankroll and divide by 20. we get 15.
We are to bet $15 to win for each race.
Our next suggestion is this. Have a profit total percentage goal in mind. And make it realistic!!!!
How much percentage will you be happy making on your bankroll today? 30%, 40% 60%??
When you reach your goal, for goodness sakes stop betting and go home. Remember the longer you stay at the races and the more track you play, the more the odds favor the track, or casino, for that fact.