One type of progressive betting that is particularly vi cious is that method which insists that just so much, no more and no less, shall be won on each horse bet. The particular amount insisted upon may be $2, $5, $.10, or $1.00, but the effect may be suicidal. If the horses that happen to be bet on should show a loss if wagered flat which is probable in the case of a player who gets his horses from selectors or from wacky rules of selection then the attempt to make a fixed amount on each one over a period would result only in pyramiding losses. Say that the attempt is to make $5 a horse, betting the amount necessary to secure that profit on each animal in view of the odds against him. Assume also that the first horse taken under the rules is at even money, so that $5 must be wagered on him to win $5 if he does come in first. If he loses, and if the next horse is going at even money, three bets must be made to carry out the conditions of the sys tem in the event of success. (1) Five dollars must be bet on the second horse at even money to win back the $5 lost on the first animal. (2) Another $5 must be bet on the second to yield the required fixed profit on the first. (3) And another $5 must be bet on the second horse to win in addition the required amount from him if he is successful. If he does happen to win all is well. A total of $20 has been bet, $5 on the first horse and $15 on the second, and the player is $10 ahead, which is at the re quired rate of $5 per horse. But if the second horse loses the player is out $20, and from this point on, if the third, fourth, and fifth horses lose, the proceedings are apt to become somewhat disastrous.
05-28-2008
