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I was leafing through a few books on betting/gambling which I’ve accumulated through the years, mostly quite old (i.e pre 2000).
I wondered, if one were putting together a library of essential books on the subject of betting on the horses, which books would <i>have</i> to be in there? (Betting books specifically rather than books on racing per se)
"The Suns guide to the jumps" that was always an interesting annual! "Timeforms" horses to follow was too!
I have a book about US racing and the Tote – personally think that’s been very useful for identifying value for relatively small stakes on the Tote.
Far too many investors only use the bookmakers and exchanges – bookies, exchanges and the tote systems are all vital IMO to maximising profit.
Bioenergetics and Racehorse Ratings, by Bob Wilkins (NAP)
The Compleat Horseplayer, David Edelman (NB)
and, possibly, Handicapping Speed, by Charles Carroll,
Not sure I would bother with anything else. You are better off teaching yourself from first principles than being misled by some of the other authors in the field.
It is also worth mugging up on some elementary psychology in order to understand why most people make bad decisions when faced with uncertain information. I am currently finishing "Risk: The Science of Politics And Fear" by Dan Gardner.
Six Secrets of Successful Bettors by Frank R. Scatoni and Peter Thomas Fornatale is the book I refered to earlier.
The Drunkards Walk is another of those "outside-the-subject" books that it is worth reading, undoubtedly.
I’ve mentioned it here before but I really enjoyed "Against The Odds" by David-Lee Priest.
Outliers by Malcolm Gladwell
Nothing to do with horse racing but proves that there are exceptions to the rule which is an important lesson in betting.
Like everything in life, books are no replacement for the real thing. Handling the downside can only be learnt through real life direct experience and dealing with it in your own way. Nothing in a book can teach you that. I’m also convinced that 95% of the population don’t have the aptitude to make money from gambling longterm, regardless of how many books they would ever read on the subject. Perhaps that’s the great attraction of it for me.
Having said that I’ve found The Six Secrets a very good read, covers the psychological (and most important) aspect’s of gambling very well.
I’ve mentioned it here before but I really enjoyed "Against The Odds" by David-Lee Priest.
Got to page 40 and then sacked it off. Too much drivel like "I like backing horses at about 7/2" etc.
My favourite betting book by a long way is Against The Crowd by Alan Potts, it changed the way I bet forever. (For the better I might add.)
I also enjoyed reading Nick Mordins Winning Without Thinking and Jon Gibbys Betting on Flat Handicaps.All of these were written in the pre-Exchange days but I never touch the exchanges anyway.
My favourite betting book by a long way is Against The Crowd by Alan Potts, it changed the way I bet forever. (For the better I might add.)
I also enjoyed reading Nick Mordins Winning Without Thinking and Jon Gibbys Betting on Flat Handicaps.All of these were written in the pre-Exchange days but I never touch the exchanges anyway.
Yes I’m a fan of both Potts books and both Mordin books too. They made me think differently about the game. I also found Always Back Winners (Simpson) a simple and useful read.
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