We're all human and everybody makes mistakes. A lot of times it just doesn't matter, but when there is real money at stake, for most of us, it does matter. If you are so rich you can throw money away then what I am about to say probably won't matter to you, but for the rest of us, this is important.

The problem is that as humans we are all imperfect. The problem isn't that we are imperfect but how much imperfection can we stand in our lives, or better yet, how much can we afford? How much can you afford to lose at the race track and how much do you want to lose? Are you one of those people who takes a certain amount of money to the track and says to him or herself, "That is all the money I will let myself lose today."

Well no one will argue that you shouldn't set spending limits for yourself, especially when it comes to gambling. Knowing what you can afford is very important and not going over that amount is important, too. But what does that statement, all I am going to lose, really signify? It means you have decided to lose, doesn't it? What is going on in your mind when you say that? You are picturing yourself losing that money!

Why are you doing that? Is it because you are planning on losing? If so, why are you going to the race track? Maybe you like handicapping and betting on horses, but part of the fun is cashing winning tickets and leaving the races with more money than you started with. The biggest mistake that most people make when they gamble on horse races or dog races is planning on losing. That starts with the self-talk that goes on in your head.

Wouldn't it be better to say something like, "I have $50 that I am going to take to the races today. I want to win and I intend to win and that $50 is my investment. I realize I may lose it but I also realize I may increase it and will do everything in my power to leave the track with more money than I started with."

Do you see the difference and the power in those words? The power in those thoughts is unmistakable. It still sets a loss limit but also prepares you for success. The biggest mistake race goers make is preparing to lose rather than preparing to win and that affects everything they do at the track and while handicapping horse races. That picture of winning or losing is in your mind and will change every decision you make subconsciously.

People who regularly make money at the track, the insiders, do not plan to lose or fail, they plan to win and you can, too. For a look at how that can be done go to True Handicapping and the Inside Story

About the Author

Bill Peterson is a former horse race owner and professional handicapper. He has developed several winning strategies and shares what the insiders know Handicapping Strategies