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Old 09-20-2020, 11:24 PM   #1
papajohn3times
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Betting

Using a few segments of Ritchie Ps match up teaching and incorporating Mitch,
Tim and your suggestions, I am a very happy camper!
Only problem for me is sticking to a consistent Kelly percentage. When I win, I tend to back off on the size of my next wager. Bob Purdy told me this was betting scared money. At the time working 60 hours a week and providing for my family tended to stay on my mind.
But now with being divorced and my daughter's grown with their own families, I don't have that financial burden. I have a sufficient income monthly, so I have to find a way to eliminate this problem! Any suggestions?

Papa John

Last edited by Ted Craven; 09-22-2020 at 06:17 PM.
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Old 09-21-2020, 01:28 PM   #2
dlivery
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Betting...

I'm treat the seletions like a business investment.
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May all wagers be Winners...
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Old 09-21-2020, 02:34 PM   #3
Lt1
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John you need to find your comfort level when it comes to wagering. Everyone has their limit. If you don't feel comfortable raising your betting amounts then don't. Only you can determine the bet size that's right for you.
Tim
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Old 09-21-2020, 05:28 PM   #4
MJS6916
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Quote:
Originally Posted by papajohn3times View Post
Well Ted
I did buy a new computer but as my grandson advised, I only us it for RDSS !
I still get the no response message but the work around works great. But when I switch to another track, I have to do the process again but no big deal for me!
Using a few segments of Ritchie Ps match up teaching and incorporating Mitch,
Tim and your suggestions, I am a very happy camper!
Only problem for me is sticking to a consistent Kelly percentage. When I win, I tend to back off on the size of my next wager. Bob Purdy told me this was betting scared money. At the time working 60 hours a week and providing for my family tended to stay on my mind.
But now with being divorced and my daughter's grown with their own families, I don't have that financial burden. I have a sufficient income monthly, so I have to find a way to eliminate this problem! Any suggestions?

Papa John


Step 1: pick a dollar amount that, you know, you won't reduce
regardless of how well or bad you did in the previous-any-# of wagers.
Then go to step 2.

Step 2: I don't care how small it may be at 1st. Stay at that amount until you are ready to increase it. Go to step 3.

Step 3: after your most recent step-up in wager amount, don't forget how well Steps 1 and 2 turned out.

Without involving mathematical formulas and %age sizes named after Kelly or whoever, that's all I got.

Mike
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Old 09-21-2020, 06:39 PM   #5
papajohn3times
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Thanks for all the great advice! I humbly appreciate it all!!
Papa Johm
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Old 09-22-2020, 12:26 PM   #6
Mitch44
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John;


Its much easier to bet with winnings than one's own money, therefore increase only with profits. Increase in small increments, from $2 to $3 not from $2 to $10 etc. Everyone has a comfort, thats a level where you don't get nervous, leery and uncomfortable from the bet you made. Your not afraid to lose that amount. Confidence has a great deal to do with a comfort level.

The only way to overcome this fear is to face fear and confront it, procrastinating about it or thinking too much about it only adds fuel to the fire or compounds fear. Accept it in small increments and gradually your mind will overcome it, don't go from $3 to $4 untill you are as confortable at $3 as you were at $2.

A millionare can make a $200 bet and its like a $2 bet for the commom person, so your confort level is greatly influenced by bankroll. Never gamble with money that's needed for other bills or committments. Only bet what you can afford to lose and your confidence and comfort level won't be shaken.

If you make a large bet and lose your confidence will be destroyed. Don't even think about any size bet until your completely done handicapping (that race or the days card)or it'll influence the decision process. You want the decision process or handicapping process to be seperate from the betting process. Each race is different and the bigger bet for the day should be on the race you have the greater insight into,fewer win conteders and where the public is perhaps overlooking a viable win contender. Consentrate the power of your money where it can bring the most reward.

If your wavering back and forth about the bet that indicates unsureness and best to go with a small or minimum bet. Finally bets do not have to be large to make money in this game, small $2 bets on EX., DD. or a TRi can bring hundreds of dollors while erasing many small loses.

Mitch44
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Old 09-22-2020, 12:31 PM   #7
papajohn3times
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Thanks again guys!
Especially from Galen and
Tim
I am slowly going to work on the advice!
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Old 09-22-2020, 10:05 PM   #8
papajohn3times
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Hi guys!
Well working slowly and just with bris pop. I bet just 5 races at 2$ on 2 horses 20 bet=51.80 not much but a fair profit, going slowly! Thanks especially as always Tim and
Galen!
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Old 11-01-2020, 09:54 AM   #9
CEW
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John -

I could suggest, very simply, do this:

Take $50.00 and bet 10% on your first race - $3 on the low odds horse and $2 on the high odds horse. Play 20 races using the 10% of bank. Keep good and honest records. After 20 races you will have enough information to tell you where you stand.

If you have doubled your bank to $100, you are as good as the average Sartin player. Keep going till you reach your comfort level, take a profit of say half the bank, then start with that half amount and double that.

If you finish the 20 races with between $50 and $100, you are in positive territory. Keep going concentrating on contenders (and pacelines). Read Huey's article in Follow Up #2 to get the bet sizes figured properly as your money grows.

If you finish 20 races and have, say, less than $35.00, you may want to seek additional help on contenders and pacelines.

Keeping a 20 race cycle can be very hard when things are not going well, but it is key. Even painful, trust me. But the other side of the coin is that once you put together a winning cycle and you see the money grow, you can go back and see your documented success.

Best regards,

Chuck
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Old 11-01-2020, 04:23 PM   #10
papajohn3times
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Thanks Chuck!
I will continue to use all this great advice from all you great responders!
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