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from our USA correspondent

Horse Racing Basics – Parlay Betting

The immediate goal of every horse racing bettor is to establish an edge. The significance of this edge can never be overstated. Only its existence you can give any sort of meaning to the entire activity. If he cannot establish this edge, the bettor remains without any sort of purpose and with a negative long-term mathematical expectation. Once this edge is established however, it doesn't mean that all the bettor has to do now is to rinse and repeat, never looking to further improve anything.

© Caroline Norris

Pay Day Kitten

Most savvy bettors know all too well that being able to turn a decent medium term profit is only the very beginning of a successful horse racing betting career. The next step is to maximize the profits. Experts recommend several approaches, each and every one of which is built around the fact that one should actively try to combat greed. Greed is the downfall of all mathematical reason, and once that's out of the equation, even the initial gains of the bettor are defeated.

One recommended approach is to raise one's bet level. This would of course be extremely dangerous if it didn't come with additional advice regarding bankroll management. According to experts, one should consider a 20 to 25% increase in his bet level once he manages to double up his initial bankroll through a certain method. If someone starts out on a $500 bankroll for instance and he manages to get it to $1,000 through $10 bets, he should consider raising his bet level to $12-$13. There are of course other much more complex approaches to this issue, but the point we're trying to make in this article is how one can use parlay betting to radically increase his or her return on investment.

At first glance, it seems like mathematical certainty that a flat bet loss series cannot be turned into a profitable series through any sort of strategy, systems, methods or bankroll management. According to some, this is where parlay betting should come into the picture.

In order to illustrate its potential impact on a flat bet loss series, let's take a look at an actual example: let's consider a bettor who out of a series of 10 consecutive wagers loses 8: the first four and the last four. In between, he has two winning bets one of which yields a return of $10 and the other one $9. Everything considered, he pumped $20 into the series and got to take out $19 for a 5% loss. According to proponents of parlay betting, the same bettor could have gotten $18 into the mix on a straight two horse $2 parlay, and could have gotten out $45 for a rather fabulous 150% ROI. Of course, parlays are generally much more difficult to win since every single one of the bets included in the parlay have to be winners in order for the bet to win. Some experts argue however that the excellent ROI more than makes up for this shortage of odds.

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