Heading for the dog track? Then ask yourself these two questions:
- How MUCH money do you have to invest/gamble?
- Is it possible, with the use/play/risk of this much money, to multiply it?
Whenever you set about to increase your holdings, some degree of risk is involved. In general it is axiomatic not put more at risk than we can “afford” to lose. The word afford, of course, is relative. The amount may be more flexible to a totally independent individual than to those of us who are responsible not only to ourselves, but to others. You must not risk so much that it will deprive or harm those you care for.
That, then, brings us to the limits of your “bankroll”; how much you want to put at risk. If you go to the track with, say, $100, you may well, in the course of the racing card, actually wager several times that much. That is, you’ll make a bet, win, bet again, win, bet, lose, bet, etc., eventually shoving as much as $300 or more through the windows. How much did you risk? Of course, you risked $300. If you had a profit of $100 at the end of the evening, you’d have had an R.O.I., (Return On Investment), of 33%. Some might think you DOUBLED your money – arriving with $100, and leaving with $200. Not so! You have to think in terms of how much you profit, (or lose), on the amount you put at risk. This might seem academic at first. It’s not! To come out ahead in this game you have to know the level of R.O.I. you can, or cannot, achieve on certain types of races with certain types of wagers. A confused gambler is a loser. You’ve gotta know where you are, where not to go, and how best to get to where you want to be!
How much money does it take to make a profit at the dog track? You are not going to learn that answer here. You will, I hope, learn HOW to work out the right answer. No …