Why are Winning Horse Racing Systems so much hard work?

In general, there are two types of punter, (that is apart from the nutters who are blind to all sense and reason, and bet on a horse merely because it's a colour they like or because it shares its name with someone from the office).

The thinking punter, as I like to call him, always has a carefully-designed racing betting system. It may be one he created for himself, it may be one he borrowed from a friend or purchased somewhere, or it may be a system that he has developed from someone else's and which he now regards entirely as his own creation.

However they are arrived at, these horse racing systems break down into one of two types:- statistics-based and form-based.

Statistical horse racing systems feed on the availability of vast amounts of historical data from earlier races, and in these days of powerful computers and huge memory banks, the available data is expanding at a staggering rate. Statisticians, and keen amateurs like myself, pore over these figures trying to perceive patterns previously unknown, and to mould the results into a new and better winning horse racing system

Sometimes they lose the plot completely, like the statistician who loudly and proudly announced, after hours and hours of costly computer time, that favourites only win about 1 in three races.

Gosh! I really didn't know about that!

But still, I think the research is valid and worthwhile, and useful data does often emerge, and real winning horse racing systems are born as a result.

The form punters also have a valid point of view. They believe that endless study of every little characteristic of every horse, on every course, in every weather condition, and with every available rider etc etc etc. Yes, the list does go on ad infinitum and the betting world will need even bigger computers to consider all these variables and arrive at a conclusion. At least before the horse retires to stud anyway.

No, really good betting systems (and there are many really profitable systems out there) contain elements of both camps, They also contain an element that many fanatical gamblers could not live with - prudence. The very best systems give their users an edge, a statistical probability that they will win more often than they will lose, and that if the punter just keep steadily plugging away, winning very little but very often, they will ultimately build a large and growing bank.

For the inveterate gambler this is just not on. He seeks the big killing, the 50-1 winner. And if he has to lose 100 times on the trot to achieve it, and his 50-1 winnings don't come close to covering his losses - so what! He just loves to have a bet, and he'll continue to so so.

The winning racing systems I develop are for punters with business brains - the traders. Many of them are like me, they never visit horse racing, nor even watch it on the TV. It's just a business, and for a sizable minority it can be a very profitable business indeed.

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Chris Temple is a successful forex trader. He writes books about Forex, winning horse racing systems and on choosing the best winning horse racing betting systems