subject: Betting on Horse Races as a Way to Make Money During Hard Financial Times [print this page] The financial news isn't good and many people are looking for ways to make money. Some people naturally turn to the horse races as a way to make a living or maybe just a little extra money to make it through hard times. This isn't the first tough economic time the American people have experienced. Many years ago the so-called Great Depression forced many other people to take chances on horse races. There were a lot of two dollar bettors who put their last dime on Sea Biscuit.
While it may be true that there is a lot of money at the horse races and some people can show a profit, the sad truth is that more people lose than win. So is it a reasonable course of action to go to the horse races and try to make money? That depends upon what you call reasonable and what you are willing to endure.
Other people who are down to their last dollar buy a lottery ticket in hopes of winning some money. What is the difference? Horse players would argue that no matter how hard you think, you can't handicap the lottery. Therefore, since you can handicap the horse races and your ability to handicap is directly proportionate to your chances of winning, it seems that betting on a horse makes more sense than buying a lottery ticket.
But just because your chances are better, it doesn't mean they are good. Betting on horse races is still risky, even for a good handicapper. The best horse racing handicappers will tell you that it is an up and down ride and one day you're up and the next you're down. The problem is that if you're already strapped for cash, you are starting at the bottom and trying to make your way up. That is double-tough.
I've been a horse player for many years and helped a lot of people learn how to play the horses. I know about trying to make a living at the track and I know about the ups and downs. My advice is that the race track is a good place to have fun or if you have money you can risk and you want to try to make a living, then it may be a place to have an adventure, but it is not a place for desperate people to try to save themselves from hard financial times.
The sad truth is that scared money never wins and if you are afraid that if you don't win you won't be able to pay the rent, then trying to handicap a race is not the way to make money. Save your money for a better time when you can afford to take risks, for the time being, only risk what you can truly afford to risk and if you can't afford to risk anything, then find another safer way to make money.
Betting on Horse Races as a Way to Make Money During Hard Financial Times
By: Bill Peterson
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