The main attraction of any progressive mechanism of betting, before it is applied to real horses with real money, is the lovely vision of the highest bet of a series riding on the horse that ultimately wins. The vision may be lovely, but a lot of money must have been lost in previous un successful wagers to get the play ‘up to that level of the progression. No race-player has unlimited funds,; to enable him to operate the progression with what few tens, hundreds or thousands he has, he must start his play at a low wager $2, $5, $10 so that if he begins to experience losses he will have enough money left to carry his progression through to the bitter end. And low initial wagers simply mean that if he-is successful and does get a lot of win ners from the beginning at the minimum point he will be pocketing relatively few dollars as profits since he has been betting so little. To get his play up to a level where his profits from an individual wager will be substantial he must have experienced a series of previous losses which his profits from the ultimate winner will serve only to reduce. They will not be net. In other words, if a system-player’s selections are successful from the beginning he will be making very little money from his bets that stay small just because he is successful. And if his selections are successful only after he has experienced losses the profit from the ultimate winners will serve only to recoup or reduce previous losses, not to increase initial capital.