Beginning Racing/betting

[piperjock]

Hi all, I have just joined this site and am a complete novice when it comes to betting and racing in general. I have always had a fascination with racing as both my parents were bookies. I heard too many bad stories about people losing all there wages every week and saw the people banging on the door for the shop to open so they could lose their mone and i guess this put me off. I have however been reading a bit about professional gamblers and read a couple of biographies. The people in these are far from losing and would appear to live very good lifestyles from their gambling. What would you say it is that these people are doing that the guys losing all their money are not? The books I have read talk about spending hours reading form etc. What exactly are they doing? How would someone with no knowledge learn to do this? Are there any good books that would explain the basics and also the whole process of form reading and selection? I have always fancied getting into racing but want to do it correct from the start with as much info as possible rather than just relying on luck. Regards

[Gingertipster]

Re: Beginning Racing/betting Hi Piperjock, You are very lucky coming in to the game with a background of bookmakers. No doubt they've told you about the "Table Of Odds And Chances". If not, get them to, or take a look at the Glossary / Questions part in the stickies of this section #111. Learn it off by heart before doing anything else. You really need a good form book. I can reccomend Timeform Perspective. Most, if not all professional gamblers, work out the percentage chance they believe each horse has of winning (a 100% book), then back the ones who (he believes) are over priced. If they don't work out a "book", they certainly know what percentage chance each price should have to back it. Just buying a good form book is not enough, you still need to be able to evaluate the form. One way of teaching yourself about value, is to buy a Timeform race card, note down all SP's, then ask yourself (after each race) why every horse started the price it did. Take a look on e-bay for an old book called "Betting the Timeform way", if you are taking the Timeform route; that should give a good grounding. Professional Gambler Alan Potts two books are pretty good. There are pro gamblers who make a lot of money, and some who just make a living. You only seem to hear from the former group. I would not start betting big, until knowing you can do it for a prolonged period. Anyone can have a winning run, or even a winning year, but does not mean they can continue in profit. Be careful. Best of luck Mark