You also have probably figured out that you need a method or system that works and that you can repeat. When you're betting on horses and don't have any regular steps that lead to good winners, every bet is a shot in the dark.
Like any other endeavor in life, winning at the horses requires certain basic steps and you can never get away from them. It doesn't matter what system you use, it has to start with being able to accurately estimate the frequency or probability of a horse winning the race. Unless you know how often a horse with certain qualifications would win, how do you know what it is worth?
Some people think the key is to compare the odds of each horse to the field. For instance, they look at a horse that is fourth in the betting order and at 6-1 and think that its a good bet because the other three horses that are lower in odds aren't that much better than that one. They think that it has a chance to win and at 6-1 they think it is a good value.
The problem is, their thinking is murky at best because those terms are all subjective. For instance, what is a good chance? Does that mean one in five? Does it mean one out of three? We're dealing with finite numbers so thinking in terms of good and bad, maybe and might are not going to be good enough to make a profit in the long run. That is the difference between a pro and a part time or recreational horse player.
The irony of it is that it is not an advanced concept that you would think only a pro would know or use. It is a very basic factor of finding profitable bets or investments in life. The whole equation comes down to this. Risk < reward = profit. In plain English, when the risk is less than the reward profitable situations occur. Those profitable situations, however, can be accurately identified if you use math and not words like might probably and maybe.
Therefore, one of the very basics of horse racing handicapping is to think in mathematical terms. You don't count your winnings with words, you use numbers to quantify your results. In order to have positive results to quantify you need to start thinking in mathematical terms. It may sound incredibly simple but it is one key to successful horse racing handicapping you can't overlook.
Author: Bill Peterson
Article Source: http://www.articlesbase.com/horse-racing-articles/horse-racing-systems-and-handicapping-basics-4105775.html
About the Author
If you want to learn how a horse owner and insider handicaps just go to http://williewins.homestead.com/sharpshooter2.html and get the truth. Bill Peterson is a former horse race owner and professional handicapper. To see all Bill's horse racing material go to Horse Racing Handicapping, Bill's handicapping store.