Betting on Horse Racing For Dummies E-Book

Richard Eng

• Herausgeber: John Wiley & Sons
• Kategorie: Lebensstil
• Sprache: Englisch

Seitenzahl: 598

Veröffentlichungsjahr: 2010

Beschreibung

How to enjoy a day at the races-and bet to win! The last two years have seen a record number of Americans tune in for climatic Triple Crown races featuring Smarty Jones and Funny Cide; in 2004, television viewership jumped a whopping 61 percent over the record set in 2003, and the Belmont Stakes race itself drew a record crowd of more than 120,000! This easy-to-understand guide shows first-time visitors to the track how to enjoy the sport of horse racing-and make smart bets. It explains: * what goes on at the track * what to look for in horses and jockeys * how to read a racing form and do simple handicapping * how to manage betting funds and make wagers that stand a good chance of paying off. Complete with coverage of off-track and online betting, it's just what anyone needs to play the ponies-and win! Richard Eng (Las Vegas, NV) is a racing writer and handicapper for the Las Vegas Review-Journal, a columnist for the Daily Racing Form, and the host of a horseracing radio program in Las Vegas. He was formerly a part of the ABC Sports team that covered the Triple Crown.

Leseprobe

Betting on Horse Racing For Dummies®

by Richard Eng

Betting on Horse Racing For Dummies®

Published byWiley Publishing, Inc.111 River St.Hoboken, NJ 07030-5774www.wiley.com

Copyright © 2005 by Wiley Publishing, Inc., Indianapolis, Indiana

Published simultaneously in Canada

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About the Author

At one point in his life, Richard Eng was on a responsible career path in the banking business. In 1979, he was making $25,000 a year as a shift supervisor for Union Trust Bank in Darien, Connecticut. However, Eng got a higher calling for a job in professional sports. He left Union Trust and accepted an entry-level position in the publicity department of the New York Racing Association. Eng’s first yearly salary in horse racing — $9,000.

Eng worked for the NYRA tracks — Aqueduct, Belmont Park, and Saratoga — until January 1985. During his six years in New York, he worked on some of the greatest horse races of that era: two Triple Crown near misses in the Belmont Stakes with Spectacular Bid in 1979 and Pleasant Colony in 1981; a walkover by Spectacular Bid in the 1980 Woodward; three of trainer Woody Stephens’s record five straight Belmont Stakes wins; six Saratoga meetings, including the historic 1982 Travers where the three Triple Crown races winners — Gato del Sol, Aloma’s Ruler, and Conquistador Cielo — squared off but were upset by Runaway Groom.

Eng moved on to the new Garden State Park as the Assistant Publicity Director. Garden State was a showcase racetrack built for more than $170 million in Cherry Hill, New Jersey. That spring, Spend a Buck broke with racing tradition. After winning the Kentucky Derby, the connections of Spend a Buck skipped the Preakness and ran him for a $2.6 million payday in the Jersey Derby. Spend a Buck won the Jersey Derby and Horse of the Year honors.

In future years, Eng served as the public relations director at Turfway Park in Florence, Kentucky, for six years; Santa Anita Park in Arcadia, California, for three seasons; and Arlington Park in Arlington Heights, Illinois, for one year.

During the 1990s, Eng did freelance work with ABC Sports and the Breeders’ Cup. He also worked four years as a handicapper and writer at Monmouth Park and the Meadowlands. He worked with ABC Sports for seven years on its horse racing and Triple Crown television coverage. Imagine getting paid to attend the Kentucky Derby, Preakness, and Belmont Stakes. In five years working on the Breeders’ Cup Newsfeed, Eng witnessed the single most amazing score in horse racing history when his co-workers won $3 million in the 1999 Ultra Pick Six.

In October 1998, Eng became the turf editor and handicapper for the Las Vegas Review-Journal. He writes a weekly horse racing column on what’s happening in the sport. Every morning in the Review-Journal, his handicap of the Southern California racing card is a popular feature with race book horseplayers and followers over the Internet. In the evening, he hosts the Race Day Las Vegas Wrap Up radio show five nights a week.

In April 2003, Eng elevated the standing of all public horse racing handicappers in winning the $400,000 Championship at The Orleans handicapping tournament at The Orleans casino in Las Vegas. He and his partner, Louis Filoso, won the first prize of $111,680 for the three-day tournament.

Richard Eng has done a lot in the horse industry since 1979. But the one thing he’s glad about is he finally won back the $16,000 pay cut he took to get into the horse racing business.

Dedication

In 1979, you had to see the look on my mom and dad when I told them I was making a career change into horse racing. It’s a fact that Chinese people love to gamble. But my parents thought their number three son would earn an honest living at the bank. I dedicate this book to my parents, Bik and Chuck Eng, as well as to my siblings, Patty, Elsie, Peter, Kenny, and Nancy. Add to the list my family through marriage: Sandy, my wife; stepdaughters Carrie and Crissy; and the apple of my eye, grandson Christian.

It’s taken a lot of hours and late nights of writing to finish, but it’s been well worth it. The final dedications are to three great friends who’ve supported me in doing this book, but more importantly, were along for the fun ride it’s been all these years — Don Barberino, Ralph Siraco, and Tom Varela.

Author’s Acknowledgments

I learned early on in my career that no one knows all the answers. The key is having good friends who know all the things that I don’t. I could not have written this book without the help of these pros in their respective fields, and I cannot thank them enough: Donald Barberino, Sports Haven; Jim Beers, handicapper and horseman; Trey Buck, American Quarterhorse Association; Rick Hammerle, Santa Anita Park; Floyd Hill, trainer; Carol Hodes, The Meadowlands; John Pawlak, United States Trotting Association; Jerry Porcelli, New York Racing Association; Nick Smith, Ascot Race Course; Tom Varela, Southern California Off-Track Wagering, Inc.; and from the Television Games Network, Bob Baedeker, Pat Bove, Matt Carothers, and Gary Seibel.

The horse photos were provided by Equi-Photo, Inc., Lisa Photo, Inc., Ed Keys of the United States Trotting Association, and photographer Skip Dickstein, a long-time friend who I met during my first Saratoga meeting in 1979.

I want to thank the Daily Racing Form for providing the past performances, result charts, and other copyrighted material included in the book. I contribute a Sunday Las Vegas gaming column to the Daily Racing Form. DRF chairman and publisher Steven Crist has always been supportive of projects meant to help horse racing, and especially with a book like this that reaches out to newcomers. I thank his lieutenants Rich Rosenbush and Dean Keppler for their support. I thank Equibase Company LLC, the sole data collection agency for horse racing, for use of any copyrighted material. I appreciate the feedback from Brisnet, Equiform, Ragozin Sheets, and Thoro-Graph, all companies that help horseplayers win more money.

I also thank my literary agent Jessica Faust, Acquistions Editor Tracy Boggier, Project Editor Chrissy Guthrie, Copy Editor Trisha Strietelmeier, and other fine folks at Wiley Publishing, Inc. who made this book happen. The For Dummies books are very popular for good reasons. Wiley understands its audience, researches what subjects are of interest to people, and have great folks working there who know how to make the material fun and interesting to read.

Finally, a lot of my own research was done just doing what I’ve been doing all these years. I want people to know that if I’ve ever had a meaningful conversation with them, in some small way, they too contributed to this book.

Publisher’s Acknowledgments

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Contents

Title

Introduction

About This Book

Conventions Used in This Book

What You’re Not to Read

Foolish Assumptions

How This Book Is Organized

Part I: And They’re Off! Horse Racing and the Betting Scene

Part II: How the Players and Factors Impact the Race

Part III: Gaining and Keeping a Competitive Edge

Part IV: Risky Business: Tackling More Advanced Bets

Part V: Playing Different Ponies and Different Venues

Part VI: The Part of Tens

Appendix

Icons Used in This Book

Where to Go from Here

Part I : And They’re Off! Horse Racing and the Betting Scene

Chapter 1: Playing the Ponies for Pleasure and Profit

Differentiating the Types of Horse Races

Before You Bet: Handicapping the Races

Playing the System: Parimutuel Wagering

Betting with Success

Deciding Where to Bet

Just for Fun: A Challenge Straight from the Horse’s Mouth

Chapter 2: All Horse Races Are Not Created Equal

Race Set-ups: The Long and the Short of It

Different Levels of Competition at the Racetrack

In a Class by Themselves: The Race for the Triple Crown and the Breeders’ Cup

Chapter 3: Getting a Handle on Parimutuel Wagering

Betting Against Other Bettors

Beating the Takeout

Understanding Breakage

When Uncle Sam Comes to Visit

Chapter 4: The Skinny on Betting

Starting Off with Straight Bets

Placing Your Bet

Watching the Tote Board

Chapter 5: Visiting the Racetrack

Preparing for the Cost of Attending the Races

Seating: You Get What You Pay For

Accessing Information: The Program and Other Resources

Watching the Races From Start to Finish

Understanding the Layout of a Racetrack

Rewarding Yourself and Your Family

Part II : How the Players and Factors Impact the Race

Chapter 6: Studying Horses in the Paddock and during Post Parade

Dissecting the Anatomy of a Horse

Examining Horses in the Paddock and Walking Ring

Watching the Horses during the Post Parade and Warm-Up

Chapter 7: Riders Up: The Importance of a Jockey

Winning Jockeys Share Certain Traits

Considering a Jockey’s Experience Level

Betting by the Book: Statistics

Comparing Viewpoints

Chapter 8: Calling the Shots: Trainers and Owners

Taking the Trainer into Account

Owners: There’s No Racing without Them

Chapter 9: Knowing the Track Surface and Conditions

Scratching the Surface: Rating the Main Dirt Track

Giving a Little TLC: Main Track Maintenance

Making the Grade: Turf Course Ratings

Tuning In to Track Biases

Chapter 10: Zoning In on Equipment Changes

Blinkers — On or Off

Bits of Helpful Information

That’s a Wrap: Bandages

“Fixing” a Horse’s Chances

Lasix: Just Saying Yes to Drugs

Getting Good Footing on the Importance of Horseshoes

Part III : Gaining and Keeping a Competitive Edge

Chapter 11: Starting with the Right Tools: The Daily Racing Form and More

Reading the DRF’s Result Charts and Past Performances

Beyond the DRF: Other Important Tools

Calling All Big Shots: Resources for Advanced Horseplayers

Chapter 12: Trying Your Hand at Handicapping

What Is Handicapping Anyway?

Doing Your Prep Work

Developing the Race Shape

Finding Value in the Odds

The Importance of Post Positions

Weight Matters (or Does It?)

Trite, But True, Clichés

Chapter 13: Planning Your Wagers

A Winning Strategy: What’s the Big Deal?

Getting To and From the Betting Window with Your Game Plan Intact

Developing a Winning Pattern of Wagering

Chapter 14: Making the Most of Your Bankroll

Knowing Your Own Personality and Temperament

Keeping Your Emotions in Check

Making Your First Bet of the Day a Winning One

Differentiating Your Bets: Action, Prime, and Going for the Score

Wagering a Little to Win a Lot

Betting Favorites to Avoid Losing Streaks

Using Percentage Wagering over Same-Size Wagering

Chasing Your Losses: Don’t Do It

Staying Within Your Means: Scared Money Never Wins

Part IV : Risky Business: Tackling More Advanced Bets

Chapter 15: Betting Exotic Wagers

Getting Value from an Exotic Wager

Making Multiple-Horse Bets

Placing Wagers on Multiple Races

Betting Styles

Chapter 16: Getting Into Sophisticated Handicapping

Taking a Scientific Approach: Advanced Handicapping Resources

Considering Class Changes

Trip Handicapping

Common Sense Guidelines

Chapter 17: Taking On Handicapping Tournaments

Knowing the Rules and Requirements

Strategizing for Success

Headin’ to Vegas: Big-Money Tournaments

Chapter 18: The Race for the Triple Crown: Picking a Kentucky Derby Winner and More

Derby 101: What You Need to Know

The Not-So-Terrible Twos: Why 2-Year-Old Horses Should Race

Beware the Breeders’ Cup Juvenile Jinx

Watching the Kentucky Derby Prep Races

Following (or Not) the Buzz on Public Horses

Getting into Place: The Importance of Post Position

Going for It All: What Happens after the Kentucky Derby

Part V : Playing Different Ponies and Different Venues

Chapter 19: Harness Racing: It’ll Drive You Wild

Harness Racing Equipment

Comparing Pacers and Trotters

Defining the Lingo of Harness Racing

Handicapping Harness Race-Style

Championship Races

Chapter 20: American Quarter Horse Racing: Don’t Blink or You’ll Miss It

Horse Racing That’s Short and Sweet

Handicapping Factors in Quarter Horse Racing

Chapter 21: Visiting Your Local OTB: Off-Track Betting

In the Beginning: New York City OTB

A New Era for OTBs

Finding an OTB Nearby

What to Look For in an OTB

Chapter 22: Betting from Home

Doing Your Research

Wagering by Telephone

Watching the Race in Your PJs

Chapter 23: Viva Las Vegas

Finding the Race Books That Suit Your Needs

Earning Comps: Using What’s Rightfully Yours

Playing in Contests and Twin Quinellas

Wagering the Kentucky Derby and Breeders’ Cup in Las Vegas

Betting Against the Casino

Comparing Las Vegas with Other Locales

Part VI : The Part of Tens

Chapter 24: Ten Best Bets and Betting Angles

Lone Speed

Win Bets

Daily Double

Pick 3

Pick 4

House Quinella

Third Start off a Layoff

Running First Time for a Claiming Price

Speed Horse Turning Back in Distance

First-Time Gelding

Chapter 25: Ten Best Racetracks to Visit

Arlington Park

Belmont Park

Churchill Downs

Del Mar

Gulfstream Park

Keeneland

Lone Star Park

Monmouth Park

Santa Anita Park

Saratoga

Chapter 26: Ten Common Betting Mistakes

Not Betting a Horse to Win

Betting Too Many Racetracks

Betting On Bad Favorites

Getting Shut Out

Not Looking at the Race Changes

Practicing Bad Money Management

Chasing Your Losses by Betting More Money

Overlooking a Winning Horse

Forgetting to Check Your Tickets

Getting Touted Off a Horse

Appendix: A Glossary of Horse Racing Lingo

Introduction

Horse racing may be the most American of all professional sports played today. The horse is indigenous to the North American continent and was used in everyday life by Native American Indians and the first European settlers. When English settlers came to the New World, they imported new breeds of horses. Horses were used for transportation and farming, and they played a big role in the movement west of the Mississippi River. People in the New World began racing their own horses against one another as early as the 1600s. This was nothing new as their ancestors in Europe and Asia had raced horses for centuries.

In Betting on Horse Racing For Dummies, I cover the great sport of horse racing from every conceivable angle. I consider it the greatest game around, and hopefully by the end of this book, you’ll feel that way, too.

About This Book

Since 1979, I’ve worked in the horse racing industry in public relations, as a handicapper, and now as the turf editor for the Las Vegas Review-Journal. I’ve met hundreds upon hundreds of newcomers to the sport. The reasons many of them cite for not getting more interested in horse racing are that the sport is hard to learn, is too intimidating, and there isn’t a way anybody actually wins any money. Because a vast majority of newcomers echo these words, you know their concerns are real.

The phenomenal popularity from the success of horses like Funny Cide and Smarty Jones in the Triple Crown races in 2003 and 2004, respectively, have whet people’s appetites for horse racing. But even though the sport of horse racing enjoys tremendous peaks of interest each spring when these races are run, little is done to capture and nurture that intense curiosity. When the opportunity arose to write Betting on Horse Racing For Dummies, I was thrilled to tackle this age-old problem that horse racing faces on a daily basis. (This is called putting your money where your mouth is.)

In horse racing, you have a lot to learn, so much so that it becomes a smorgasbord of raw data — a literal information overload. No wonder you feel intimidated if you try to understand horse racing all in one sitting. What I’ve tried to do in this book is divide up horse racing into easily digestible pieces. When you get full, just put the book down for a while. Return when you’re hungry to find out more.

I wrote Betting on Horse Racing For Dummies with the idea of teaching horse racing to newcomers in an “A to Z” fashion. However, I’m positive if you’re an occasional or veteran horseplayer, you’ll find plenty of meat in these pages to either refresh your own strategies or discover some new ones.

Conventions Used in This Book

You should find the conventions in this book to be pretty straightforward:

New terms are italicized and defined, and there’s an in-depth glossary for further definitions in the back of the book.

When I introduce a new product, a racetrack, or something I want you to find out more about, I often include a Web site address, which appears in monofont.

Whenever I discuss betting odds, such as two-to-one, I write it this way: 2/1.

What You’re Not to Read

I’d love for you to read everything in this book, but if you’re short on time or are only interested in the absolute need-to-know info, you can skip the following:

Any text marked with a “Technical Stuff” icon: This icon points out bits of trivia or interesting information that enhances but isn’t necessary to your understanding of the topic.

Sidebars: These gray-shaded boxes highlight information that relates to the topic, and they often include personal stories from my experiences in the horse racing and betting world. The info is great, and the stories are all true, but you can skip these sections without worrying about missing out on too much.

Foolish Assumptions

Before writing a word in this book, I made a few ironclad assumptions about you:

First, you have zero base knowledge about horse racing and betting, which is why I start from square one. Now, if your starting point isn’t zero, that’s okay, because you can skip some parts. Remember that even if you’re a professional handicapper, this book is still chock full of useful ideas.

My second assumption is that you have a $100 betting bankroll for the day. You have no ATM cards, no $20 bills hidden in your shoes, no extra cash you “borrowed” from the family’s weekly grocery money — just $100 for the day.

My third assumption is you have at least a slight interest in finding out how and why certain things work in horse racing. For example, commenting on blinker changes on a horse and its impact on your handicapping is one thing. But I assume you want to know how and why blinkers work on the horse so you have a better understanding of how that affects your handicapping. (Wondering what in the heck blinkers are? Don’t worry. I get to that eventually.)

How This Book Is Organized

When I organized the Table of Contents for this book, I tried to put myself in the reading chair of a newcomer. Some people like to read every word and devour each thought like a morsel of caviar. Others read a book like it’s a 99¢ dinner menu. (Hurry up with the hamburger and small fries, and make it snappy!) Of course, plenty of readers lie somewhere in the middle of these two extremes.

Each chapter is meant to be self-contained, meaning you can read a chapter in the middle of the book and understand it without reading everything before it. And because a winning horseplayer is built up layer by layer, each chapter has a progression from start to finish.

But remember: If you’re a newcomer and pick up this book and read just, say, Chapter 15, and then you go to the racetrack tomorrow, I doubt if you’d win without some serious beginner’s luck. No form of gambling is ever that easy to master.

Part I: And They’re Off! Horse Racing and the Betting Scene

Part I begins with me telling you everything you need to know (in a nutshell, that is) about betting on horse racing. After you have all that down, you get into the many different types of horse racing. Before you’re through with this part, you’ll understand how parimutuel wagering works, you’ll know how to place a bet, and you’ll be familiar with the ins and outs of the racetrack.

Part II: How the Players and Factors Impact the Race

Before you figure out how to handicap, you must understand who, why, and what you’re handicapping. You need to be familiar with the horse, jockey, trainer, owner, racing surfaces, and equipment changes. Most handicapping books don’t delve into these aspects — let alone dedicate five chapters to them — but I do with the hopes that you see that the handicapping equation is more than just a number.

Part III: Gaining and Keeping a Competitive Edge

If handicapping is comparable to cooking a good meal, then you need to know the ingredients and how to use them. Any horse racing recipe begins with the Daily Racing Form. In this part, I show you how to read it and point out key information to look for. Then I introduce betting ideas and money management.

Part IV: Risky Business: Tackling More Advanced Bets

In this part, I bring you into the world of exotic wagers, where your chances of winning go down, but the payoffs go sky high if you do win. And when you’re ready for advanced handicapping, these chapters fill you in on which premium products provide the best handicapping help, how to be successful in the big money handicapping tournaments, and how to bet horses at huge odds. Not enough? I even show you how to get a jump start on picking next year’s Kentucky Derby winner.

Part V: Playing Different Ponies and Different Venues

Playing the ponies from any place but the racetrack is easier than ever. You can go to your local off-track betting parlor, set up a telephone account with whomever it’s allowed and wherever it’s legal, or watch the races at home on cable television or over the Internet. If you want to go someplace exotic, try a first-class race book in one of Las Vegas’s fine casinos.

Here I also introduce two breeds of horse racing, harness and Quarter Horse, that are as exciting to watch and bet on as the Thoroughbreds.

Part VI: The Part of Tens

The Part of Tens is in all ForDummies books, and this book is no exception. Here I’ve listed for you what I consider the ten best bets and betting angles, the ten best racetracks to visit, and the ten most common betting mistakes. Read the lists, decide whether you agree or disagree, and let me know what you think.

Appendix

Horse racing has its own jargon. To fully understand what I’m talking about or what someone at the racetrack is saying, check out the key words in the glossary.

Icons Used in This Book

If you’ve ever read a For Dummies book before, you know all about icons. They point out bits of information that you should pay particular attention to, or that you can skip altogether in the case of the Technical Stuff icon. Following is a brief description of each icon that appears in this book:

This icon marks useful information that can save you time, money, or both.

This icon marks important information you want to remember.

This icon marks dangerous scenarios and pitfalls to avoid in the world of betting.

This icon marks interesting or advanced material that isn’t essential to your understanding of betting on horse racing.

Because I’ve been in the business for a long time, I’ve got a few stories to share. This icon highlights those stories.

Where to Go from Here

If you’re a complete novice, I recommend reading Chapter 1 for sure. Ideally, you should read from cover to cover. The information is sequenced to take you through the horse racing and handicapping process step-by-step.

For the recreational handicappers, this book is an excellent reference tool. And for professionals, reading Betting on Horse Racing For Dummies can be a good refresher course, because as we (I consider myself a professional too, after all) get older, there’s a tendency to take short cuts and get sloppy. If you want to bone up on a topic or two, read over the Table of Contents and find the chapters that look interesting and helpful.

And by the way, don’t be afraid to take this book to the racetrack with you — or at the very least the Cheat Sheet. Good help is often hard to find. If you have any questions, I can answer them for you so you don’t have to look for a racetrack employee. Good luck betting on the horses!

Part I

And They’re Off! Horse Racing and the Betting Scene

In this part . . .

H orse racing is unlike any other American spectator sport. You don’t pay hundreds of dollars to watch grown up millionaires play a kid’s game. In horse racing, you’re an active participant, a player in the stands. You’re invited to go just about anywhere within the racetrack and enjoy yourself. You decide your level of involvement — meaning as a $2 bettor, a $1,000 horseplayer, or somewhere in between.

In this part, I introduce the different types of horse racing and the inner workings of the horse races. I explain the parimutuel wagering system, outline how to bet and some of the easier bets to make, and paint a word picture of a racetrack so you can take advantage of everything that’s available for your enjoyment.

Chapter 1

Playing the Ponies for Pleasure and Profit

In This Chapter