EARLY TO BED..."Early" can be clever. If YOU'RE smart!For what it's worth, I always maintain a separate bank for the big prepost racing.I don't, or I try not to, bet in the days coming up to a race, where the field has been declared. This is because a scratching can leave you sick in the stomach when your bet pays less by maybe 40 cents in the return dollar.Shoot Out on Saturday paid $3 at starting price. He wasn't much more prepost before the equal favourite, So You Think, came out.Bu

EARLY TO BED...

"Early" can be clever. If YOU'RE smart!

For what it's worth, I always maintain a separate bank for the big prepost racing.

I don't, or I try not to, bet in the days coming up to a race, where the field has been declared. This is because a scratching can leave you sick in the stomach when your bet pays less by maybe 40 cents in the return dollar.

Shoot Out on Saturday paid $3 at starting price. He wasn't much more prepost before the equal favourite, So You Think, came out.

But had you backed him on the Friday night, you were in for a horrible surprise when you collected.

You didn't get 2/1!

However, I do try to get a couple of bets on the biggest races (for the example THE cup).

I grabbed some of SHOCKING $35 when the NSW TAB offered that price as a promotion. He's around $13 at present.

And I've risked a bet on SHOOT OUT at 20/1. He may not start, but if he does it will be after a terrific Cox Plate run which will see him favourite for the Tuesday race at perhaps 4/1 best. Or shorter!

A decent risk, I think.

I have a separate bank, and I bet 1% on any of these choices. I look to average 20/1 or better, meaning five of the hundred need to salute to cover my outlay and give me 5% on turnover.

My target is 8% success. Not high, agreed, but then this is a risky business that requires confidence and patience, along with the knowledge of what I am backing, why, and when.

That 8% will bring me, at a minimum of $21 (20/1), 60% profit on turnover.

And a lot of fun.

But it has to be separate, and it has to be long term and seriously evaluated. Every bet matters equally.

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Roman and I had a great day at Caulfield, and thank you to the Melbourne Racing Club for the passes. I'll be writing it all up in my Educating the Punter for the October issue of PPM but I should mention that Roman cracked a winner at $11. That was our best combined effort. He's a cagey and very knowledgeable investor, that man.

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