MYTH
THE PURPOSE OF HANDICAPPING
IS TO PICK WINNERS

As obvious as that may seem, it's only partially true. Just as important as picking winners is getting fair to generous payoffs. Both aspects of the racetrack experience are crucial , and integral...
(a) Picking winners and...
(b) Getting fair to generous value.

MAXIM
THE PURPOSE OF HANDICAPPING IS TO PICK WINNERS THAT PAY A FAIR TO GENEROUS PRICE

Handicappers accomplish that by estimating what the fair odds should be on the horses in the field. In other words, by setting a fair-value betting line, the critical skill at the races.

What's the best bet at the racetrack?

The question is asked routinely and the answer is always the same. Every day, every week at every track the best bet is a horse having a good chance to win at a good price. By betting on those horses persistently handicappers begin their walk to the winner's circle.

A less attractive bet is a horse having a good chance to win at a poor price. This is the mistake good handicappers make too often and the main reason so many talented handicappers lose.

And the least attractive bet at the races is a horse having a poor chance to win at a good price. Too many of these horses lose, creating long losing streaks. The occasional winners may compensate for the losses much of the time, but the winners will be too few and far between to contribute to meaningful profits.