Help with the ESSEX PLAN
 

Was wondering if any members would help me in trying to figure out the "Essex Plan" wagering plan for low priced place and show mutuels.
It is in the Follow Up , issue #37, page 41, in an article submitted by Tipton Gilbert.
I understand how to figure the particulars in the win bet example shown in the article when all odds are assumed at 1-1 as shown in the article. Having real trouble trying to follow how to arrive at the 1.65 r.o.i. That he arrived at in the 12 race place bet example. I was trying to figure out how to determine the "arrears" column, along with the amount to bet for each play.
Thanks for your help,
Seatrain

Why not go to the horses mouth: Tipton A. Gilbert

Ol' Tip is still going strong!

Ted

Thank You, Grade 1 Ted.
Will send him an e-mail to see if he is still around and into 🐴 play

He is indeed around, using RDSS, and enjoying racing on a regular basis!

Ted

Essex
 

SeaTrain -

Send me an email at cewilso@erols.com. It has been a while, but I have used the Essex plan in the past. And I also have blank forms - I can scan you a copy. Then you can send me your particular questions and we'll work through an example.

The trick after that is to it is find the one readout above all others that comes in the money a majority of the time where you can play it in this plan without any extra work.

Chuck

Chuck asked me to post the spreadsheet he made up for this. Here it is:

Attachment 44225

Here are the usage instructions he gave for this spreadsheet:

1) Enter a dollar value for the unit in the top box...say $2.00 for example,

2) When you start a new series, best to enter an “L” in all 12 of the center boxes.

3) Make Play No. 1, then record a W or an L. The next bet is computed. Continue the series until it “clears arrears”, meaning a positive value in the Arrears box.

4) The first bet is always 1 unit and the second bet is always 2 units, regardless of the wins and/or losses.

5) Because the Essex plan assumes an even money payoff each time, the results will vary. You could clear arrears without making a profit. The reverse is also true in that you may make a good profit without clearing arrears. All depends on your $2 mutuel. I used it many times years ago and it works.

6) The basic idea is to parlay wins (or place, etc.). The spreadsheet can only handle up to a 12 bet series. If you have played 12 races without back to back wins, set this aside for awhile and regroup on your handicapping!

7) Once the Arrears is “cleared” (when the figure is a positive number), disregard the next bet. it will not apply nor be accurate. Simply start a new sequence.

Here is the article from Follow Up #37: