What's your ROI? - Pace and Cap

alydar_ David · 01-07-2013, 08:48 AM

How many people keep betting records? Not too many, I daresay.

I break mine down into separate categories. This lets me know what's working and what isn't.

For example, 25 years ago my best return on investment was on non-state bred Maiden Special Weight dropping down to Maiden Claiming for the first time, providing it was beaten less than 13 lengths at all points of call last race.

Another one that used to be good was simply betting the best last out Beyer number when they were only available from BRIS. That evaporated as soon as they were published for the general public.

For me it's helpful to see how I do in different categories. For example, my "bomb" play wins at only 9%, but has an ROI of 1.11 or put another way a dollar net of $3.11. I know this works so I'll stick with it for 2013.

And my "Can't lose unless the jockey falls off" picks win at 54% picking one horse to win with an ROI of 1.19.

I also keep track of turf bets, how I'm doing by track, etcetera.

By doing an objective evaluation of where your strengths and weaknesses lie you can increase your profits, or at the very least minimize your losses.

For example, if you stink at $5,000 Claimers, stop betting them. If you're great at $25,000 claimers then bet more on them than you have been.

Nobody likes to do a brutal self-analysis, especially if you're losing. However, maybe you can turn losing into winning by concentrating on the areas where you excel.

It's a new year. If you start keep track of your betting on a daily basis it's really not all that painful.

I suspect not too many people will do this though.

JimG · 01-07-2013, 09:22 AM

Hi David,

Good post and I agree wholeheartedly. Betting online has taken most of the pain out of record keeping for me. At the very least, I want to know which tracks I am doing well at and which I am not.

Here's to a profitable 2013.

Jim

noddub62 · 01-07-2013, 11:53 AM

Good Post David.

I always keep a current WDF going not only to see how I'm doing but also to see where I'm not doing so well. It's easy to see where the missed wins are when you record them in tier 4 or 5 or are not even in the top 5 contenders. Also on the form that I use it's easy enough to record the different types of races and surfaces.

Bud

atkinsrr · 01-09-2013, 01:49 PM

Great post David...as Howard told us treat it as a business...if you own a business then you keep records. He gave us the WDF and I have used it religiously for years..also made a 2 sided tracking form , which on the back side you record wagers and notes on why u made them...if you take a 3 ring binder to the track and keep your RDSS print outs in it and your WDF form it only takes a few minutes in between races to fill it out. To be a success in this or any other business you have to know what you are good at and what you are not good at...as Howard always said YOU GOTTA DO THE WORK..THIS AIN'T NO GAME!!!!!!

01-07-2013, 08:48 AM	#1
alydar_ David Grade 1 Join Date: Jun 2005 Posts: 2,654	What's your ROI? How many people keep betting records? Not too many, I daresay. I break mine down into separate categories. This lets me know what's working and what isn't. For example, 25 years ago my best return on investment was on non-state bred Maiden Special Weight dropping down to Maiden Claiming for the first time, providing it was beaten less than 13 lengths at all points of call last race. Another one that used to be good was simply betting the best last out Beyer number when they were only available from BRIS. That evaporated as soon as they were published for the general public. For me it's helpful to see how I do in different categories. For example, my "bomb" play wins at only 9%, but has an ROI of 1.11 or put another way a dollar net of $3.11. I know this works so I'll stick with it for 2013. And my "Can't lose unless the jockey falls off" picks win at 54% picking one horse to win with an ROI of 1.19. I also keep track of turf bets, how I'm doing by track, etcetera. By doing an objective evaluation of where your strengths and weaknesses lie you can increase your profits, or at the very least minimize your losses. For example, if you stink at $5,000 Claimers, stop betting them. If you're great at $25,000 claimers then bet more on them than you have been. Nobody likes to do a brutal self-analysis, especially if you're losing. However, maybe you can turn losing into winning by concentrating on the areas where you excel. It's a new year. If you start keep track of your betting on a daily basis it's really not all that painful. I suspect not too many people will do this though.

01-07-2013, 09:22 AM	#2
JimG Grade 1 Join Date: Jun 2005 Posts: 992	Hi David, Good post and I agree wholeheartedly. Betting online has taken most of the pain out of record keeping for me. At the very least, I want to know which tracks I am doing well at and which I am not. Here's to a profitable 2013. Jim

01-07-2013, 11:53 AM	#3
noddub62 Budman Join Date: Jun 2005 Posts: 801	Good Post David. I always keep a current WDF going not only to see how I'm doing but also to see where I'm not doing so well. It's easy to see where the missed wins are when you record them in tier 4 or 5 or are not even in the top 5 contenders. Also on the form that I use it's easy enough to record the different types of races and surfaces. Bud

01-09-2013, 01:49 PM	#4
atkinsrr Grade 1 Join Date: Jan 2010 Posts: 507	Great post David...as Howard told us treat it as a business...if you own a business then you keep records. He gave us the WDF and I have used it religiously for years..also made a 2 sided tracking form , which on the back side you record wagers and notes on why u made them...if you take a 3 ring binder to the track and keep your RDSS print outs in it and your WDF form it only takes a few minutes in between races to fill it out. To be a success in this or any other business you have to know what you are good at and what you are not good at...as Howard always said YOU GOTTA DO THE WORK..THIS AIN'T NO GAME!!!!!!