Many people are almost making a profit handicapping horse races and betting on them. For those people who are within sight of the brass ring, but just can’t seem to grasp it, the quest is maddening. When you’ve done everything you can think of and worked as hard as you can, but still need to add a few points to your ROI to make it profitable, here are a few tips.

1.

First and foremost of all, sometimes, less is more. Not only should you know what your ROI is on each type of bet and each kind of race, etc., but you should also know if some of them pay more than others. If it is possible, make fewer bets, only bet your top ROI bets. If you have done that, then the next step is to choose your venue carefully.

2.

When I say choose your venue, I mean which tracks you bet on. California has a very low takeout on win bets compared to some other states. You should know the takeout on the bets you place and start thinking about it. For instance, if you are betting in a state with a takeout figure of 19% and switch to a state with a 15% takeout, you instantly gain 4% to your ROI! Shopping for value among the various tracks should be your first move, then shop for value in the pools.

3.

The next way to make your ROI go up is the perks that some ADW’s now offer. I am talking about the advanced deposit wagering services. Not only do they have neat software that helps you to chart your performance and to know where your best and worst bets were made, but they also offer cash back!

You don’t get cash back when you go to a race track or OTB, but some of the better ADW’s now offer incentives. There are deposit incentives as well as a percentage refunded on your gross bets. So let’s say you switch to the tracks with the lowest takeout and add a few points to your ROI, then switch to an ADW and add a few more. That could mean a large boost to your ROI and possibly put you in the black. Of course, you’ll need to check to make sure it is legal to use an online ADW in the state where you will be making your bets.

This is a very tough game or business and you have to take advantage of every little perk and toehold that you can find to make it to the top.

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