Tag Archives: ROI

Making a Living at the Race Track

by Derek Simon

As I prepare to make a full-time assault on the pari-mutuel beast, I am reminded once again of the obstacles facing a professional horseplayer. If it was just a matter of accumulating a positive ROI, I would’ve been making a comfortable living a long time ago, but a successful gambling career consists of more than just a solid return on investment. The importance of one’s own psychological makeup simply cannot be overstated! Personally, I like to win and I’m very ill at ease with low-percentage overlays—regardless of my edge.
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The “Value” Paradox

by Derek Simon

Anyone who has attempted to profit from wagering on sporting events knows that in order to do so one must only wager when the known return exceeds the perceived risks. This is known as “value” betting. It sounds simple and the majority of literature on the subject seems to imply that value betting is only slightly more difficult than withdrawing money from an ATM machine.

Of course, if that were the case, the OTB parking lot would be packed with Corvettes and Ferrari’s rather than that rusted VW Rabbit with the duct tape trim that I always seem to spot when I visit my local establishment. The sad truth is, the ability to detect value and bet accordingly is one of the most difficult aspects of successful wagering.
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