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Author: TMFOrangeblood Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 10413  
Subject: Re: Rex's horse story Date: 5/24/2003 4:18 PM
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Hi again, AB.

So, that implies that the only people left are poor people whom you are describing as, "Only the best of the best can do so."

By that statement, I meant only the best horse handicappers can make a living off betting. As I clearly pointed out in my column -- while dissuading people from thinking they could make money playing the ponies -- it is long, hard, grueling work to be a successful handicapper. But some people are successful, and an even smaller subset make their living doing it.

I have worked in the industry. I have worked at a track. I currently know people who have tried and failed to make handicapping their livelihood. I know people who have tried and succeeded. I currently know someone who's very seriously considering giving it a shot. None of this is conjecture.

What I wish would not happen is for you to take very clear guidance from me regarding this:

"But as one who has wagered his fair share at the track, I am here to tell you that to reach such a level (making a living) requires more hard work and dedication than you can imagine. And even if you're willing to put in the work, the odds are still against you. Trust me on this one: It's better to spend your time on more fruitful endeavors, like developing money-growing trees."

...And imply that I am somehow encouraging anyone to try this.

I stand by my statements that it's very hard to make a living betting on the horses, yet some people do it.

Thanks for the discussion,

Rex
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