Improve Your Horse Racing Handicapping Success With Your Ppi
- Date: 2008-05-12 - Word Count: 392
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As horse racing handicappers we often get so caught up in keeping records of our successful bets that we lose track of one important key to our own survival in the game. I'm talking about ROI. Without a strong ROI you aren't going to stick around very long. It is absolutely important that you keep a good cash flow. Most pros agree that an ROI of 10% is a reasonable expectation and anything less can lead to a depletion of bankroll.
Kelly bettors know that depletion of bankroll for any period of time other than the usual expected fluctuations means a gradual decline leading to tapping out. So working at an ROI of say 10% is an absolute must. This is why record keeping is so important.
In order to maintain your 10% ROI you must make bets that have a reasonable percentage of expectancy and payout. A return on investment and return of investment, in other words the profit and frequency. Both categories must be within the realm of expectancy. Knowing which bets are good bets based on those two factors is paramount and that is where your PPI comes in.
Your PPI is your "personal proficiency indicator." In other words, look at your last 50 bets and identify which category of bets using as many determining factors as possible, offer the highest return divided by the frequency. You may make more profit on exotic bets but is the frequency within a comfortable range so that a losing streak won't wipe out your bankroll?
Proficiency means staying in the game, not necessarily making the highest profit. Proficiency means frequency with the least fluctuations from a comfortable level. If you have experienced a losing streak of 20 bets with one kind of bet but have maintained a 14% ROI while with another kind of bet have maintained an ROI of 10%, which bet but only experienced a losing streak of 10 bets, which bet will offer the best chances for long range success? Anomalies do occur so the next losing streak may be 40 bets with the former bet and 20 bets with the latter bet. Common sense tells us that the latter bet, despite the lower ROI is a better bet. Your higher strike incidence indicates that it has a higher PPI and that is the best place for you to invest your precious bankroll.
Kelly bettors know that depletion of bankroll for any period of time other than the usual expected fluctuations means a gradual decline leading to tapping out. So working at an ROI of say 10% is an absolute must. This is why record keeping is so important.
In order to maintain your 10% ROI you must make bets that have a reasonable percentage of expectancy and payout. A return on investment and return of investment, in other words the profit and frequency. Both categories must be within the realm of expectancy. Knowing which bets are good bets based on those two factors is paramount and that is where your PPI comes in.
Your PPI is your "personal proficiency indicator." In other words, look at your last 50 bets and identify which category of bets using as many determining factors as possible, offer the highest return divided by the frequency. You may make more profit on exotic bets but is the frequency within a comfortable range so that a losing streak won't wipe out your bankroll?
Proficiency means staying in the game, not necessarily making the highest profit. Proficiency means frequency with the least fluctuations from a comfortable level. If you have experienced a losing streak of 20 bets with one kind of bet but have maintained a 14% ROI while with another kind of bet have maintained an ROI of 10%, which bet but only experienced a losing streak of 10 bets, which bet will offer the best chances for long range success? Anomalies do occur so the next losing streak may be 40 bets with the former bet and 20 bets with the latter bet. Common sense tells us that the latter bet, despite the lower ROI is a better bet. Your higher strike incidence indicates that it has a higher PPI and that is the best place for you to invest your precious bankroll.
Related Tags: betting, horseracing, racetrack betting, horse racing handicapping, thoroughbred racing handicapping
Bill Peterson has been in horse racing for 50 years. "Horse Racing is in my blood." Learn how an insider handicaps horse races by visiting Bill's website Horse Racing Handicapping with Willie's. To see the systems Bill uses, go to Bill's Handicapping Store or True Handicapping Your Article Search Directory : Find in Articles
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