Monday, November 1, 2010

Using Odds in Dog Racing Handicapping

by Eb Netr
Have you ever taken your kids to a carnival or fair and tried to win a teddy bear for them? You know it's just a cheap stuffed toy, but they're as excited as if it was really worth something because "Daddy won it." True, it took you seven tries and ten dollars to win a two-dollar prize, but it was worth it to make them happy.

Now think about how this applies to dog racing betting. You go over your program at home and find a dog you really like. You decide that you're going to bet it to win, no matter what. So you do. You don't even look at the odds board. The dog wins and you get $2.10. Was it worth it?
Like the two dollar prize at the carnival, a dog that goes off at such low odds isn't really worth risking your money on. The only way you can know that, however, is by watching the odds on the dogs that you like. If they're in line with what you think the dog's chances are, bet them. If they're not, don't.

If you think a dog has a shot at beating four of the other dogs, and it's at 2-1, why would you bet it? Now, if the same dog is at 20-1, that's a different story. You have to balance what you risk against what you will gain if the dog comes in.

Trying for a prize to make your kids happy is one thing. But spending more money than you can get back isn't the way to make money at the dog track. If you bet a dog to win and place for $2, and it places and pays $2.50 in the middle, you lose money.

This is what you have to think of before you put down your bets. Pick your dogs. Watch the odds board and don't risk your money on "teddy bears" that aren't worth what you pay for them.
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