Learn to Manage Your Greyhound Racing Money!

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How to Manage Your Greyhound Racing Money?

Before you bet on greyhound racing you must determine two important things: How much money you plan to invest in gambling and whether it is possible to multiply this amount. In any sort of gambling risk is involved, so it must be obvious to any gambler that only extra money can be wagered without touching any essential resources. In other words, bet the money you can lose without harming your everyday life. This is particularly important if the gambler is responsible for other persons and does not risk only HIS money.

How to Manage Your Bankroll:

From now on we will refer to this fixed nonexpendable sum that the gambler wants to put in risk as the bankroll of the gambler. The bankroll, of course is not the final sum of the wager. In the course of the racing card, the gambler may wager the amount of his bankroll several times winning and wagering again, but he may not add any money from his pocket, which means, that the playing money must be put apart from other finances.

How Large Must Your Bankroll be to Profit from Greyhound Races?

It depends on too many things to describe them all here. Your goal as a gambler is to learn to determine the size of the needed bankroll for each single track and race. Paying attention to the following factors will help you to find out the answer:
  • How much return on the invested money you plan to achieve. 30-40% return is quite reasonable for an experienced gambler.
  • What track you are playing at.
  • At races of what grades and on which courses you believe you are better at handicapping.
  • What pools you prefer betting.
  • What kind of opponents you are going have (remember that you are not betting against dogs or tracks, but against other bettors)

Types of Bets:

There are certain bets that work better than other for the purpose of profit. Show Wagers are a bad choice. No matter how good you are in handicapping, you will barely profit from show bets. Place and Win wagers are better bets but are not very profitable either. Serious bettors usually use Trifecta and Exacta bets, and sometimes Quiniela and Daily Double. Some exotic bets, such as Twin-Trifecta or Tri-Supers can also be profitable when used correctly. However, you should choose the pool to enter in accordance to your handicapping skills.

About Trifecta Bets:

Trifecta wagering requires a larger bankroll because including only 2 or 3 selections you will barely develop a winning approach. The less skilled the handicapper is, the wider must be his Trifecta wager, but exceeding a certain point, such wager may not produce any return and therefore will become useless. So, even the largest bankroll in the world is still not enough to profit from greyhound racing. Handicapping skills are always more important, and the better they are, the more return the wagering will produce.

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