PLAYER STRATEGY HORSERACING TIP: Picking Up The Pieces

Even though I am still a relatively young man, I have unceasingly wagered on thoroughbred horseracing for nearly three decades. Now to pull this sort of thing off, one must be blindly, desperately, irrationally, and unfailingly in love with the “Sport of Kings”. I say this because lifelong bettors like yours truly are keenly aware that thoroughbred horseracing is undoubtedly the most unforgiving game on Earth.

When I first started out, I truly believed that handicapping was a “cut and dry” discipline. That is to say, the light hadn’t gone on concerning the fact that I could perfectly decipher the Daily Racing Form and yet still taste defeat via a “bad trip” around the oval, a terrible ride by an apprentice jockey or a hoof injury that had gone undetected. The point I’m trying to make is, betting the ponies inevitably involves swallowing a tough beat from time to time. Accordingly, owning a knack to persevere psychologically is worth just as much (if not more) than the ability to correctly interpret past performance lines.

For me personally, losing a chunk of change on a marquee race like the Kentucky Derby is the equivalent of brushing against the “brass ring” as I crash down headfirst into the mire. It literally takes a few days until I get the feeling back in my extremities and even then, I’ll obsessively lament over where I went wrong and how I could have possibly overlooked those “obvious” attributes that were attached to the winner. Alas, this inability to “let go” has often compromised my confidence going forward. Hence, here are some practical precepts that I try to cling to whenever I get ruthlessly KO’d by the “Sport of Kings”. (My sincere hope is that the following proverbs will help preserve your sanity as well!)

There is always another “big” race right around the corner - Horseracing’s yearly calendar is chock full of prestigious competitions and therefore a chance at redemption is always just on the horizon. This reality is especially true for those who fall short on the “First Saturday in May” (Kentucky Derby day) given that the Preakness Stakes (the Triple Crown Series’ middle jewel) transpires just two weeks after the “Run for the Roses”!

One gigantic score can instantly erase a lifetime of frustration - I’m not going to lie.

My lifetime ledger when it comes to betting on the races reflects a negative balance. This is why, regardless of the listed odds, I always bet a $1 Exacta Box 2/8 and a 50 cent Trifecta Box 1/2/8 ($5 total) on every “classic” domestic horserace. See, I’m positive that someday when I least expect it, my lucky numbers will come in at extraordinary odds. As a result, every bitter disappointment that I’ve ever endured courtesy of the turf will be effectively offset. (Plus, I’ll also be able to buy a regally bred equine at Keenland’s world renowned September Yearling Sale!)

Keep things in perspective - Nobody loves horseracing more than I do however I’ll be the first to admit that there are certainly greater tragedies in the world than losing a c-note on the Kentucky Derby. After all, if you have your health, a roof over your head and enough food, you’re doing better than a lot of people! Equally, I often tell myself, “Even if you had won a grand, would that really change your life?”

When you lose, don’t lose the lesson - This is certainly a cliché, but man if it isn’t true! Consequently, when you tap out on a notable horserace, don’t just go and pout in a corner somewhere. Instead, watch the race replay and then review the Daily Racing Form one final time. You may just notice that your pick simply had a bad trip and thus deserves to be bet again next time out. (Plus, you’ll likely get a better price than before on said beast when he or she resurfaces for their subsequent start!) What’s more, I can’t tell you how many new “angles” I have added to my handicapping arsenal simply because I went back and reread the Daily Racing Form following a loss.

As a final theme, I want to make it clear that even though the aforementioned axioms undoubtedly retain value, losing still stings no matter which way you slice it. (I’ll even dare say that when it comes to thoroughbred horseracing, the “lows” of losing seem to carry more weight than those “highs” that accompany winning.) At any rate, I would unquestionably advise investors at every level to develop some type of strategy that can combat the absolute dejection that goes hand in hand with a heartbreaking defeat. That’s because at some point, every horse player (no matter how astute) will discover that while it really stinks, “picking up the pieces” is simply part of the game.

by ERIC FLOYD