Betting on horses is a skill and therefore requires practice, lot of practice. Handicapping horse races is sometimes called an intellectual sport, like chess. I couldn’t agree more. You might also compare it to golf, in that it is very frustrating and can ruin a perfectly beautiful day outdoors, okay that was tongue in cheek, however, I think you understand what I mean. Handicapping horse races requires practice in order to develop the skill necessary to make a profit from your wagers.
But how do you practice making bets on horses? Paper bets are on method of handicapping and then deciding what your bets would be and making the bets by writing them down on paper. While actually making bets with real money can be thrilling, it can also be expensive. Think you’ve got the horse racing game beaten? Ready to go to the track and clean up? How about testing your theory on paper first?
If you think you are a good handicapper and bettor, try handicapping the races and making 50 paper bets first. Be honest with yourself and write them down and do not change them, once they are on paper. Consider it the same as if you actually handed your money to a teller and you are unable to change the bet.
To put a little more pressure on yourself, and to make it more realistic by being stressful, which real gambling is, by the way, make a commitment that you will not make a real bet until you can show on paper that you made 50 bets and they showed a clear cut profit, no ifs, ands or buts about it. With the possibility of not being able to go to the track or make any bets until your paper bets show a profit, you will quickly learn to weed out those “iffy,” bets and start betting like a true professional.
With that said, however, let me caution you about something else. In horse racing handicapping, as in life, things seldom work out in real life as they do on paper. Therefore, just because your paper bets seem to make a profit, don’t mortgage the house and put it all on your latest system. Slow steady and moderate is the way to make money by using any horse racing system or ability that you may have. When you are betting with real money you will find that you think differently and bet differently.
The whole idea of making the commitment that you wouldn’t go to the track and bet real money unless your bets paid off on paper was to put some real pressure on yourself. There will be real pressure on you when you bet with real money, so getting used to that pressure and seeing how it will affect your betting is very important. The most important lesson to be learned from paper bets, is not only whether your handicapping skills are good, but whether you can take some pressure and still make money betting on horses and the only way to do that is to have something to lose if your paper bets fail to show a profit.
if you don’t want to make the commitment about going to the track, make the commitment about something else that you really enjoy in life and don’t want to give up. Tell yourself that you will give it up until your paper bets make money and then stick to it. Like I said, you will soon learn just how tough it is to make money betting on horses and how you handle that kind of pressure.