Horse Racing

Resolutions

January 30, 2012

If your horse-racing resolution comes with a memorable reminder, like truck tires, fires or lipstick, you’re less likely to forget about it.

 

This year, set realistic goals, and use a trick from Reid McLellan to help you remember them all year long.

By C. Reid McLellan

What are we going to do this year?

New Year’s resolutions are talked about a lot in December and early January each year. It seems to me that people have gradually begun to disregard this time-honored tradition.

I remember a New Year’s youth party at my home church way back when I was a teenager. We roasted marshmallows and wieners and enjoyed a good time like teenagers will do. Around 11:30 p.m., we gathered around the fire for a devotional from our youth leader. He had us write down something we did the past year that we were not proud of – more than one would be OK, but no more than three.

We folded the paper and wrote NPO (“not proud of”) on the outside. We were the only ones who were going to see those NPO notes, so “be honest with yourself,” the leader advised. He then asked us to write on another piece of paper one main goal we would accomplish in the new year. At 11:55 p.m., we observed a quiet time, a time of silent prayer, reflection or even a brief nap for those who didn’t want to participate.

We were asked to think about what we put on our NPO page. What were the circumstances? What will you do differently next time? At 11:59 p.m., we put that NPO page in the campfire. As we watched the papers go up in smoke, we were told to let it go. At midnight, we shared Happy New Year greetings, somewhat subdued compared to most celebrations, but with smiles, tears and what appeared to be relief on some faces. We were told that “Auld Lang Syne” was about remembering old friends and good times, not NPO events.

Then, as we sang those familiar lyrics, we put our goal page into the fire.

“Giving up on my goals already?” I wondered.

No, I learned that whenever I saw smoke — from a trash fire, a chimney or even a grill — I was reminded of that one goal.

I still remember what I wrote on those slips of paper, yet I can’t remember what goals I set last year.

Yes, this is still a racing blog! The take-home message for 2012 is that each of us can make resolutions, not keep any of them and do it all over again in December. Or, we can reflect on our wagering or other actions we were not proud of in 2011, and resolve to do things differently in 2012.

I encourage you to write down one, two or no more than three things you were not proud of in 2011. Write down each NPO event and below it write a positive, declarative sentence that starts with “In 2012, I will …”

For example:

NPO: Changed wager because a friend gave me inside information about another horse.

STATEMENT: In 2012, I will follow my own handicapping to make wagering decisions. If I choose to use inside information, I will make that as an additional  wager.

After spending quiet time considering your NPO list, destroy it in a way meaningful to you. Most importantly, do not keep your NPO list! Turn it loose and let it go! Write down one major goal that is specific and attainable. “Make a profit every time I go to the race track” is too general. “Make an average profit of $100 per visit to the race track” is more specific and attainable. This will be our playing goal for this blog and, in addition to some training and horse talk, I will blog about wagering plans that can help us attain that goal in 2012. Do something creative so that you will have a daily reminder. You can do the fire and smoke reminder or something that works for you. Some life coaches have clients write down goals on sticky notes and stick them on their bathroom mirror. Some like to place notes on the fridge with a magnet. To be different, write your goal in lipstick. Then when you see a lipstick commercial, an ad in a magazine or pass a lipstick display at a store, you will be reminded of your goal.

Speaking of goals, R.D. Hubbard set — and achieved — countless business goals in the horse-racing industry. Get the FREE Hubbard: Success in Business report today, and learn the secrets to his success.

So, what did I write on my blog goal piece of paper for 2012?

“Submit one blog for each month in 2012.” How will I remember? I rolled over my piece of paper with my truck and put a big tire print on it. Keep track of how many months this blog appears to judge the success of this reminder!

As executive director of The Elite Program, C. Reid McLellan organizes and teaches Groom, Owner and Trainer Elite classes around the country. Find out about the next available class here!

As owner and agent of Purple Power Equine Services, Reid helps people buy and sell race and show prospects and provides guidance and assistance with training, breeding and other equine services.

Thanksgiving and Horseracing

December 8, 2011

When you go to a track for a day at the races, be thankful for the fact that you get to enjoy another day at the track.

Thankful for another opportunity to go to the horse races.

By C. Reid McLellan

“Thank you, Lord! Thank you, Lord!”

And thus another winning horseplayer expresses appreciation for a winning wager. Is that horseplayer actually saying a prayer of thanksgiving to God (or any other divine being), or just expressing excitement and happiness? Possibly 30 seconds prior to that utterance, that same player may have been prayerfully pleading, “PLEASE! One Time! PLEASE let me win JUST ONE TIME!!”

One reason horseplayers like to play the ponies is the excitement of unknown consequences – reward or loss?

Read the rest of this entry »

Hubbard: Success in Business

November 3, 2011

2007 Galbreath Award winner R. D. Hubbard discusses his successes in the horse industry and beyond.

R.D. Hubbard has contributed much to the Quarter Horse racing world, and now you can learn about his success. His career as an entrepreneur, both within the equine industry and in other industries, has been remarkable for its achievements.

During the 2008 Bank of America Challenge Championships in Lafayette, Louisiana, Rich Wilcke, director of University of Louisiana’s Equine Industry Program, spoke with Dee Hubbard about his perspectives on entrepreneurship and his own career.

The Hubbard: Success in Business, Horses and Horse Racing report summarizes the conversation between Rich and Dee.

Dee attributes much of his success to three main factors: the people in his life, his willingness to take risks Read the rest of this entry »

Daily-Double Tenents

October 3, 2011

One exotic bettor used paper analysis to determine the best daily double strategies and learned when to wheel or part wheel at the racetrack.

Download Reid McLellan's evaluation of different betting strategies at two major horse races.

By C. Reid McLellan

What is your favorite “play?”

Tom liked the “all” button on the Screen-Activated Machine (like a self-serve kiosk), and he would wheel the favorite (or at least his top pick) in the first leg of a daily double with all of the horses in the second leg. He then would do a back wheel of all the horses in the first leg with his top pick in the second leg. With an average of 10 horses in each race, Tom was betting $36 on each pair of races in which daily double betting was offered.

When he started playing the game, most tracks offered daily double wagering on the first two races. Some offered a late double on the final two races of a race card. Now many tracks offer daily double wagering on every pair of races, or nine daily doubles on a 10-race card.

As Tom continued to wheel every daily double, he was hurting his wagering bankroll’s bottom line. An astute horse player, Tom had a strike rate of 37 percent (meaning his top pick was correct nearly four of 10 times).

Read the rest of this entry »

Considering Profit or Loss

July 18, 2011

Look at your profit or loss on each bet, rather than at the end of the day, and you might find an improvement in your handicapping.

By C. Reid McLellan

Keep track of your individual wagers, not just your overall bankroll, to see an improvement in your handicapping.

Remember Joe? Like many horseplayers, Joe only considered profit or loss at the end of the day as a measure of his handicapping. Once he began to look at profit or loss on each play, instead of the end of the day, he became a more productive player and had money left over in his vacation bankroll, as we call it, at the end of the year, and actually took a long weekend vacation one Labor Day and went to Ruidoso Downs for the All American Futurity.

Joe liked to play the top three choices in each of the first two races in daily double part wheels.  Since Joe played three horses in each race, his total investment was $18.00. Over the course of a long meeting, meaning over 80 days, Joe’s strike rate was an average of four daily doubles a week and he was losing money on his daily double bets.

Read the rest of this entry »

An Exotic Good Time: The Exotic Bet

May 17, 2011

Manage your exotic wagers at the race track.

By C. Reid McLellan

Exotic bets offer players an opportunity for large payoffs with minimal investment. Journal photo.

Any wager requiring a player to correctly select the finish position of more than one horse is considered an exotic bet. From the daily double, our original exotic bet, racing’s exotic menu now includes wagers in which a player must pick the winners of three, four, five or six races in a row. In addition to picking a horse that finishes first, also known as a win bet; at least second, a place bet; or at least third, a show bet; we now have races where we can bet that we will correctly select the order of finish of two, three, four or five horses in the same race.

Remember, regardless of which exotic you choose, in order to be successful you must select the horse that wins the race in question. While the win bet is the most consistent profit-producing bet at a racetrack, exotic bets offer players an opportunity for large payoffs with minimal investment.

Read the rest of this entry »

The Time of Your Life: An “Exotic” Wagering Plan

February 16, 2011

Continue learning about handicapping at Quarter Horse races and learn how to make a wagering plan.

By C. Reid McLellan

January always has been a “bright” month on my calendar.  Just like the start of a new race meeting, changing to a “new” year enables us to have a feeling of a “fresh start.”

One element over which we have control in our wagering plans is the ability to decide we are going to start over.

If you have been on a losing streak, or just haven’t been playing for a while because of family, business or other (Holiday?) reasons, you can decide that the beginning of the Remington Park Quarter Horse meeting will be a do over.  (Now that my good friend and Groom Elite board member Dan Fick is Racing Secretary at Remington Park we could use the golf term “mulligan.”)

If you are new to this blog, go back and read some of the guidelines for money management and mental approaches we discussed.  Now let’s consider a wagering Read the rest of this entry »

The Time of Your Life: A Wagering Plan

December 21, 2010

Having a good wagering plan can make a difference during the holiday season.

By C. Reid McLellan

Christmas time brings money management into sharp focus in many aspects of our lives. We shop for presents for loved ones and acquaintances. Some find such shopping stressful. They worry about what to get each person on their list for different reasons:

  • Gift receiver will think the gift is cheap.
  • Giver does not have enough money to buy a gift they know a loved one really wants.
  • Receiver already “has everything.”
  • Giver can’t afford to take off work and thus does not have time to shop for that extra-special gift.

Notice that each of those reasons has something to do with money. We talk about “it’s the thought that counts.” Many mature receivers appreciate any gift they receive, but their appreciation doesn’t alleviate stress for many people.

Read the rest of this entry »

The Time of Your Life: Money Management Plan

October 25, 2010

Having a money management plan and a winning attitude can make all the difference.

A business plan is an important document that helps owners get financing for a new (or ongoing) business. A business plan may be long and drawn out or short and to the point. If it is a personal business plan and no shareholders are involved, then the simpler the better.

Last month, we talked about reviewing our history and establishing a wagering log and budget to help us develop a winning attitude. This month, we will talk about money management plans that might help you have the time of your life

Read the rest of this entry »

The Time of Your Life: Wagering Plans

September 28, 2010

Use a few basic principles about writing a business plan to prepare your race wagering plan.

Business plans may be long and drawn out or short and to the point. If it is a personal business plan and no shareholders are involved, then the simpler the better.

If we use a few basic principles about writing a business plan to prepare our “wagering plan,” we can have a disciplined approach to wagering that might help us have the time of our lives.

History

Most business plans start off with a history of the business or an explanation of what motivated the founder to start this business.

Read the rest of this entry »

A Sure Bet: Back to Class

August 4, 2010

Watch your race program for horses that have gone back to the class in which they were most successful.

Use pre-race time to find the next winner.

By C. Reid McLellan

August means that class is back in session.

School-age kids and their parents are busy with back-to-school shopping for all the right materials on their lists.  Most students are moving up a grade level, and many graduated in May and will be moving up to middle school, junior high, high school or college.

Remember those days?  Worry, anxiety and fear are three Read the rest of this entry »

A Sure Bet: Check Past Performances

July 7, 2010

Next time you’re at the races, look for horses that had problems leaving the starting gate caused by other horses.

Pay close attention to horses' past behavior out of the starting gate, and you might spot the next winner.

By C. Reid McLellan

Fourth of July is a great time to enjoy a lot of what this independent country has to offer. Some enjoyed outdoor cookouts, others went to baseball games, and many enjoyed watching impressive fireworks shows at their local racetrack. For many, Fourth of July events such as these qualify as great times. Each month, we have been looking at Read the rest of this entry »