How to Manage Your Horse-Betting Money

Managing your bankroll is the most difficult and important part of being a winner. Bet your money only when you have an advantage.

Things You'll Need

  • Calculators
  • Notebook Papers
  • Pens
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Instructions

    • 1

      Total up your entire bankroll.

    • 2

      Find your advantage by multiplying all the possible outcomes by its probability of occurring.

    • 3

      Verify that you have the advantage on what you would like to bet on by making pretend bets. Don't just think you have an advantage and start betting.

    • 4

      Determine your advantage.

    • 5

      Bet a proportionate amount of your bankroll (see the Related eHow: "Learn the Kelly Method of Betting").