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Invest, Lose & Learn...that's Horse Racing !

By Smart-still-poor-punter | 13-Jul-2020

Hi Everyone,

     This post is exclusively for 'newcomers' but oldies will also find it useful if they are still caught up on the losing track.

     Horse racing is all about losing. Of course, you make profits here and there but horses know very well that it will make you run behind them, perhaps for the reminder of your life. And that's what has been happening in the case of many.

     First, let me recall my days as a 'newcomer' to racing. It was in the early '90s. In fact, I was in Chennai race course as a racing journalist, a part-time activity given to this working journalist of a national media at that time. Believe me, I grabbed the opportunity with both hands because my office allowed me to mark 'attendance' from the race course on all race days (of course, only Chennai and Ooty races) and go home. That will relieve me of a lot of stress, I thought, though foolishly. I also used to get a free "tiffin token" meant for journalists from the Club those days.

     Within a month of my journalist life in race course, I started developing interest in punting, thinking that it's very easy to make money here. For someone who had never taken to any other form of gambling, including card playing and even stock exchange, racing looked quite exciting.

     During those days, it was Rs.5 minimum in tote and I began there. For every 'confirmed' favourite, I used to get one or two rupees more as returns and that thrilled me. Slowly I sneaked into the bookie ring, and there commenced my 'satyanaash'.

     From Rs.100 to Rs.200, I gradually began changing gears to Rs.500 and then to Rs.1000. For a long period of time, I was playing nothing less than a Rs.1,000 bet in every race. Many winners came my way, in almost all centres. Although I kept no account of how much I was winning and losing, I always lived with a wrong notion that "one day, I will make it big". This belief kept me going for long years, for more than two decades.

     I came to a firm conclusion that if one must make big profits, his investment should also be so. You can't invest Rs.1,000 and look for profits in lakhs, I was determined. That was how on a Saturday morning, I decided to role Rs.10,000 on five 'good' horses in Bangalore in a 9-race card. Believe me, all the five got through (both as 'win and 'place') and my final returns recorded an excess of Rs.two lakhs in profit. My claims came true!

     The whole Saturday night I was wondering - a bit seriously though - that had I not rolled the money, what could have been my profit. Had I played unit bets, may be I would have ended up making less than half that profit. Also, who knows if it was not for rolls, I might have played all the nine races or as many as I can and lost my entire money?

     I, therefore, decided to take one more chance the next day with the profits alone that I made on Saturday. I selected 6 horses out of the 10-race card and decided to go on a roll. If I win, I were to get around 10 times the investment but if I lose, I will make sure racing can't fetch you big money in entire life, no matter what "betting strategy" you deploy.

     What happened on Sunday was just the reverse. Not even one of the six horses that I selected favoured me and jackpot was also c/o. I did not feel for the loss but took a firm decision that I was only wasting my time and money in racing for years together. Then and there, I decided to give up punting. That was in 2014 and today in 2020, I know how much that quick reversal of fortunes on that memorable weekend saved me from a much bigger disaster.

     Whether you play roll bets or unit bets, horse racing is not going to favour anyone beyond a point. One of my friends told me that I should have quit racing on that Saturday itself with that Rs.2 lakh profit. I told him had I done so I would have come back again with a bigger investment and found myself left in the lurch today, like several other seasoned punters.

     This post is not to discourage newcomers but just to caution them that no bloodline, trackwork or any amount of discipline will help them make money. You will make money only to lose in a bigger way and beyond a point, you will have nothing to lose...

 

Post Your reply

16 Replies

Raghavan said ...

21-Jul-2020

Golden Viper,

I do not like bookies.  I only hope that online betting becomes a reality and also the only mode allowed of betting in future.  I am attacking bookies only because of their taking bets at 10%.   I have no personal enmity with them.

SSPP:

The two lakhs which is gained and lost too quickly is hardly my concern.  There are too many people who blew away 5 lakhs and above in one race.  That is when Be safe finished 2nd to Quasar in invitation races.

I have only sympathy for those who backed heavily Be safe.  But the list of odds on favorites flopping is as big as voters list.  So, how many punters I can sympathise with?

However, according to you, SSPP also deserves some hard hitting posts!    SSPP is a loser.  And, by what he has narrated so far, he has stopped betting in races; that too 6 years early.   So, I do not find any reason to question him.

SSPP  desires that races should stop.  But, too many people have invested too much on horses/trainers etc.   I do not take his demand for banning races seriously.   

The turf clubs oppose such a ban.  And, more importantly, the punters oppose such a ban.  The present lockdown is the biggest boon to punters.  

So, on what logic should I be critical of SSPP? 

Chanakya said ...

21-Jul-2020

Golden viper,

I've started ignoring even the  existance of these perennial losers like these  two who  have  become  permanent  fixtures  of  the  sites. Interacting with them is  sheer waste  of time..

 

 

Smart-still-poor-punter said ...

21-Jul-2020

@ Raghavan : When I foresaw that horse racing may not happen for the whole of 2020 as soon as Covid-19 broke out, 'Golden Viper' was among the first to 'abuse' me here. Now he wants to predict the same as he sees no other alternative. I find such characters to be real opportunists, who neither have the quality to speak the truth nor the guts to call a spade a spade.

Smart-still-poor-punter said ...

21-Jul-2020

@ Golden Viper, Have you heard the 'old is gold' classic number "satti suttadhada kai vittadhada, budhi kettadhada nenjai thottadhada.."? You can't stop me from advocating good lessons to fellow punters here. This is an open forum, if you can, try to come

up with valid counters rather than engaging in mudslinging. I am prepared for both.

Golden Viper said ...

20-Jul-2020

Dear raghavan  congrats for a very  polite way of answering letters.

First bookies are out for this year atleast in all centers due to COVID  restrictions.

Pray tell me  is SSPP and Chanakaya  not the same coin with opposite ends.

So why have you spared SSPP[who because of his poor judgement  in betting lost money wants racing to be stopped ?

My only request to you is do not spare any one  in stead of targetting  one person

My best and humble regards ro you

Raghavan said ...

17-Jul-2020

Golden Viper,

What is th cause of your dispeasure?  I am targeting Chanakya  & co and bookies in 95% of my posts.  

Perhaps you desire that I tone down my rhetoric.  May be your intentions are good.  You are welcome to post your dissatisfaction.  

However, I request you to also put up with my hatred against (1) bookies and (2) Chanakya & co. 

Of course, there are too many horetalk members who are not happy with my scathing comments about the bookies.  That  I can not help.  I am speaking against bookies for the past 8 years.  No bookie has changed his business style.  Neither myself.

Regarding Chanakya & co, I am only conveying my displeasure about their bragging.  There are many tipsters in horsetalk.  Have you come across anyone who sing his own praises so often?  It is only because of me that Chanakya is not coming out with his lie of million gains every second day.  Of course my posts sound too repetitive.  It certainly can not be helped.

Einstein said ...

16-Jul-2020

@Foolish-But-Still-Hanging-Around-Punter

Another good yarn. Keep going. You seem to be getting better day by day. What next?

Smart-still-poor-punter said ...

16-Jul-2020

@ IIMBLUE, Your observations look crystal clear. I know not many punters - as old as a withering Chanakya or as idealess as an eccentric and young Einstein - would like to hear anything about losses because that is what they have been experiencing in their daily lives. For them, success is a distant story and will remain so. Who cares for such I-know-only-to-criticise characters? As you have rightly said, every time a punter gets a win, he thinks all his predictions have started coming correct and that his horoscope has also changed altogether to set the platform for a bigger launch? Another interesting observation of yours is that at least 1,000 of the about 8,000 punters in Bengaluru race-course make their living by tipping for others. During my Bengaluru days in early '90s, a 60+ man, working as a syce he said, would come running to me and say "Saab, aap aaj theen me chaar aur chaar me paanch kelo, harega nahi Maa ke kasam". That's all, he will not even wait and leave the place. If you look at the odds, the horses will be among the top contenders, and by mistake if they win, he will locate you wherever you be

inside the course and start demanding money..that too in hundreds as if he had deposited something with us to play for him. I had to finally call the security police to get rid of him. I strongly doubt if the 'Chanakyas' and 'Einstein' also belong to these sub-standard groups??? (You can also add the venomous 'Golden Viper' to that list).

Einstein said ...

15-Jul-2020

The heading ought to have been INVEST. LOSE and LIE through your teeth and master the art of deception!

Iimblue said ...

15-Jul-2020

@ SSPP ,

Only advice one can give to a newcomer is to quit ---now,  at this very moment. But no punter old or new is going to like it , one bit,  If one loses continuously,  he may quit. But the problem is , you win sometimes. Except that a horse could have won for many  reasons,  other than the one you are subscribing to. The result is in punter 's  favour but his logic is all wrong. Now he uses this logic and bets a  bigger amount in another race. Of course he loses  big and finds many other persons--jockey,  trainer,  bookie-- to blame. For him there is nothing wrong with his  methodology  , it is just that he is having bad luck!  The tide has to turn sometimes  , but here it never will!!. At the end of the day,  that is all you are left with --your methodology  , because cash parted company with you long back. Will this person quit,  at least now?  No. Because  , he would become a tipster as he does not want to waste the only thing he is left with ---experience  !

     In BTC, out of seven, eight thousand punters attending  , at least one thousand will be tipsters.  Pennyless  , they will always be in search of a new punter to share  their knowledge and his booty. By the time the new punter is wise to the action of these people  , he is halfway to the road for tipsters--  himself ! 

Golden Viper said ...

15-Jul-2020

SOB  SOB   5th or the 6th time same story repeated.

He may have left racing but racing will not leave him. It is like a cnacer with him

Raghavan  please try and be sensible for a change. In every topic you bring in your hatred[transferred from bookies  to him] What has he got to d o here.

Hw BTC will start on 22aug is a mystery.  Jockeys are yet to get their licence.

BNG  sees a surge in cases so I do not think it will be possible soon

Hp++ said ...

15-Jul-2020
INVEST, LOSE & LEARN.

then enter a race course and keep repeating till stone broke and later

just keep INVEST,ING LOSING & LEARNING.

Chanakya Kaushik said ...

14-Jul-2020

SSPP,

iN  A  HURRY  TO  POST YOU  MISSED SOME  WORDS: heading  should  be :

INVEST, LOSE OR  WIN, & LEARN... THAT'S HORSE  RACING.

hope  you  will  correct  the  mistake...

Smart-still-poor-punter said ...

14-Jul-2020

@ Raghavan 

     I only wish that the newcomers pick something reasonable (if they find them to be so) from my posts. As you have pointed out, there are a handful of punters, who are in no mood to accept their losses, but at the same time want to be critical of others who accept the same.

     For egs, look at how Chanakya keep glorifying himself without offering any evidence to vindicate his claims. I also could have said that from Rs.2 lakh I made Rs.20 lakh the next day and so and so was my "betting strategy". Such a false claim may get me few more well-wishers but what's the use? I will be cheating myself and also spoiling the ones who actually need some kind of counselling before they could lose themselves totally into racing.

     I don't know if you have noticed me refraining from reacting against those throwing brickbats at me of late. I know they are the most frustrated ones that can be found in the race-courses anywhere in India and why should I make them go mad by further damaging their reputation? 

     I have only one appeal to everyone reading my posts : Please understand the dangers of this one-sided investment (there are some who feel their lives are left behind in the race-course and the very sound of hooves can make them breathe faster?) and try to relieve yourself before you reach that point of no-return. 

     The Chanakyas and their chamchas will keep talking lies as long as horse racing is there but kindly don't fall a trap to such wolves' howl. 

 

Raghavan said ...

14-Jul-2020

SSPP,

You just convey your ideas.  Never be apologetic about that.  The newcomers may or may not be scared about what you post.  Of course, it is their cash & their decision.  

People have spoken rather derisively & contemptuously about your loss of   two lakhs!  Well.  They are free to articulate their views.  This is an open site. 

But, my point is, even that disapproval could have been worded in a polished manner. 

I agree with you.  Of course, I have not stopped betting.  

In any case, majority of posts that criticise you are from the punters who had lost several multiple of that 2 lakh.

So, if you desire that the freshers will do themselves good if they stopped betting, then boldly say so.  Do not compromise the serousness of your post by speaking that this post is not meant to discourage newcomers.

Of couse there will be cat calls & hootings.  Goli maro!

Dancing Dynamite said ...

14-Jul-2020

Invest, lost and learn.  it should be rephrased as invest, lost, learn and preach.