tips4you

Horse racing handicapping is a thoughtful process filled with comparisons. But betting on horses may not be the same thoughtful process. People bet on horses for all kinds of reasons, the least of which are tips. Free tips are usually worth exactly what you pay for them. There are no shortage of tips floating through the air on any given day at any given race track.

As I recently walked through the grandstand and stood by the saddling ring I overheard one person telling how he had gotten a call from a relative in New York with a tip on the race we were about to watch. This seemed interesting since the race was in Florida. The tip turned out to be a stinker and the horse is still probably running.

But while I was craning my head to get my ear closer to the tip giver, I also saw a jockey very cleverly hold up three fingers as he adjusted his chin strap. The gesture was addressed to the couple standing to my left and probably wasn't noticed by anyone but me and them. I had no clear cut picture of how the race would shape up and feeling adventurous, I placed a whole $2 bet on the nose of the 3.

The race was exciting and the 3 mounted a furious come from behind charge down the stretch and did indeed win the race, paying $27 for my measly $2 investment. You are probably thinking, "If only he'd bet a $100!" I have to admit, I thought the same thing, briefly, but life around the track has taught me a few things and one of them is that tips, even tips from jockeys, usually don't pay off.

The trouble with tips is that they are usually only about one horse and there are other horses in the race. As good as the horse may appear to the trainer, exercise rider, jockey, groom, stable cat or wherever the tip comes from, that is still only information about one runner. You need to know about all the runners. My tip is to stick with a good system and only bet a tip when you are looking for some adventure in life, though, let's face it, using a good system and making a profit from horse racing is quite an adventure in itself.

Another tip is not to make any large bets on tips. Consider the motive of the person who is giving the tip and where he or she got the information. For instance, suppose you have a horse that is going to be the favorite in a race and you want to bet on it and make some money, but the problem is that the odds are going to be quite low so your investment won't pay very well. What is the best way to get the odds up on your horse? You guessed it, start circulating tips about the other horses in the race.

I've been around horse racing most of my life and have met some fine people on the backstretch. Most people who are involved in horse racing like most people you meet anywhere are decent hardworking folks, but just as in any area in life there are a few characters who try to get an edge. The same can be true of Wall Street or any other place where money changes hands.

So take every tip with a grain of salt and bet lightly. It may be worth $2 just for the adventure and the fun of telling the story, like my $27 winner and the three fingers.

The most consistent horse racing systems have to have the basics and a handicapper must understand the basics. I have been around horse racing for 50 years including as an owner. Without the basics the rest is not going to do any good. If you want to learn how a horse owner and insider handicaps just go to True handicapping and get the truth.

Bill Peterson is a former horse race owner and professional handicapper. He comes from a horse race handicapping family and as he puts it, "Horse Racing is in my blood." To see all Bill's horse racing material go to Bill's handicapping store.