Since I’m taking a break from wagering on horse races, I thought I would post a mid-year wagering summary. I will most likely wait until the Breeder’s Cup races in November, before I start placing bets again. I started the year with $100 and deposited $510 into my account and withdrew $340. In the past 7 months, I have wagered $1755 and had winnings of $1361. If you subtract winnings from wagers, you get -$394. Add $98 for promotions and refunds and you get -$296.
Last year I lost $48.60 per month on horse racing. So far this year, the number is around $42 per month. Only a slight improvement. My biggest win was $379.80 on a pick 4 at Turf Paradise in April. My plan was to play more pick 4’s of which I won 5 out of 40 for a total of $714 in winnings. On average, each pick 4 bet was about $18 for a total of $720 wagered. This is almost break even. It is easy to convince yourself that all it takes is one more good win to move into the profit zone.
Last year I deposited a total of $640, wagered $1978 and had winnings of $1417. If I want to see if I can beat last year’s winnings, I can only deposit another $130 to see if I can do it with the same amount of money. I only need $56 more in winnings to match last year’s winnings. Despite all of the data analysis and time spent programming Excel macros, so far, my results are still only slightly better than last year.