Re: horse racing for novices
Don't bet the exotics (quinella, trifecta, etc..) as the vig. is usually higher. Keep it simple, bet the win pool only and look for an overlay.
Favorites are usually overbet by the general public so there is rarely an overlay there. You need to find a horse that can win at a good price. Estimate a horses chances of winning by looking at his past performance. If you think his chances are about 20% and he his paying over 5 to 1, bet on him.
Always try and get a good price, you won't win as often, but when you do it will pay for your day at the track and more. Have fun.
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