There is an old saying about throwing good money after bad And that is very true in the gambling world. Just picture it for a moment your at the race course or even in the bookmakers and it has been a bad day for the favourites. Outsider after outsider has come in and the bookies have got grins as wide as the Mersey Tunnel.
So the rational and sensible thing is to accept that it is one of those days, put what money you have got left back in your pocket and head for the exit or just sit out and watch the last race. But what do most people do? They plunge a packet on the final race (The get out stakes as it is sometimes called) in the hope that they can recoup their losses.
And this of course is also when gamblers become their most illogical. If there has not been a winning favourite at the meeting many will decide that statistically the favourite should win the last race. As a consequence the price of the favourite drops and on goes the money. Its no coincidence that the bookmakers have ensured that the last race on each day is often a handicap or a bumper (national hunt flat race) which can be hardest races of the day to find the winner .
The other thing that many punters will do in these circumstances is to increase their stake to try and win their money back. Occasionally such bets will come off, that's racing, but more often than not they don't. It can then be a long journey home.
The silly thing about all this is that sometimes the reverse happens and the punter has a good day and comes to a race with a pocket full of cash. He has had a god day and feels flushed. So instead of walking away with his cash he puts a big bet on to play up his winnings.
A sensible punter will set themselves targets. Win targets and lose targets. For example if your bank grows by 5 units in a day then you stop and equally if your bank drops by 3 units in a day you stop. In racing there is always another day, another race. There is never a time that you have to gamble and you should never risk going above your set staking level.
We have never had access to so much racing information as we do now. It is quite possible to sit at home or in the bookies and watch practically every horse race that takes place in the UK and further a field. Here are wall to wal pundits all giving us the benefit of their knowledge and of course there are the "Steamers and drifters" (Horses whose odds are either falling or rising dramatically).
In the long term I believe it pays to avoid all these inputs and simply stick to he system or systems that you are using and never chase losers or winners.
So the rational and sensible thing is to accept that it is one of those days, put what money you have got left back in your pocket and head for the exit or just sit out and watch the last race. But what do most people do? They plunge a packet on the final race (The get out stakes as it is sometimes called) in the hope that they can recoup their losses.
And this of course is also when gamblers become their most illogical. If there has not been a winning favourite at the meeting many will decide that statistically the favourite should win the last race. As a consequence the price of the favourite drops and on goes the money. Its no coincidence that the bookmakers have ensured that the last race on each day is often a handicap or a bumper (national hunt flat race) which can be hardest races of the day to find the winner .
The other thing that many punters will do in these circumstances is to increase their stake to try and win their money back. Occasionally such bets will come off, that's racing, but more often than not they don't. It can then be a long journey home.
The silly thing about all this is that sometimes the reverse happens and the punter has a good day and comes to a race with a pocket full of cash. He has had a god day and feels flushed. So instead of walking away with his cash he puts a big bet on to play up his winnings.
A sensible punter will set themselves targets. Win targets and lose targets. For example if your bank grows by 5 units in a day then you stop and equally if your bank drops by 3 units in a day you stop. In racing there is always another day, another race. There is never a time that you have to gamble and you should never risk going above your set staking level.
We have never had access to so much racing information as we do now. It is quite possible to sit at home or in the bookies and watch practically every horse race that takes place in the UK and further a field. Here are wall to wal pundits all giving us the benefit of their knowledge and of course there are the "Steamers and drifters" (Horses whose odds are either falling or rising dramatically).
In the long term I believe it pays to avoid all these inputs and simply stick to he system or systems that you are using and never chase losers or winners.
