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BAD BETS AND HOW THEY HAPPEN

Bad bets

Bad Bet #1
: So you've got away for a Sunday at the races and from the form you've seen, there's what you believe a reasonable thing at really good odds in the second last in Launceston. But it's only half past one and a race is about to jump at Swan Hill.

A thing's in it that you backed a few weeks ago at Werribee that finished down the track. Maybe it's improved from that run. The bloke talking to his mate happens to mention that very horse. Unreal.
A sign from above and imagine how much extra you could put on the thing in Tassie if that got up at 8's.

Wrong - wrong - wrong. If you haven't made an effort to even study the particular race, what chance have you got?

Bad Bet #2
: You've done the form on a race and the thing that suits your eligibility criteria, you've assessed at $3.50. You really like it, I mean, this thing's a bird, right?

They open it at $3.00 and it firms to $2.20. You have to get on right? Any price a winner is a good price, right? And after all, $3.50 was just YOUR assessment.
Wrong - wrong - wrong.
Believe in your own ability to price a race. Watch the bad value races go past and live to fight another day. The world is never going to run out of races to bet on.

Bad Bet #3: It looks like a losing day and there's one race left to get out on. It's a local trot race, something you never bet on, and the favourite's $4.00.

You're behind $200 and you've got $70 left in the kick. One bet (gee, you're overdue for a winner!) and you're out for the day with a tenner to boot. Favourites win a lot of races at the trots after all, don't they?
Wrong again - walk out a one day loser but make sure over the year, you end up in front.

(True story - I once went through a passage where every Saturday I backed the last winner in Sydney for nine consecutive weeks and it didn't matter whether they were 2/1 or 33/1 - just couldn't miss - until THAT day came around and I actually convinced myself I could never miss backing the last winner in Sydney - wrong, wrong, wrong!!! I paid very dearly.)

Bad Bet #4: The gambling Gods make sure that a bad day at the races MUST be followed by a good night at the dogs, right? Wrong, wrong, wrong. If your "go" is the horses, back horses.

If your "go" is the dogs, back greyhounds. I don't know one single person who's got the time to devote to both (and be successful).

Know what you're about and do it. But do it with style. Don't short change yourself through lack of discipline.