I’ve gotten more questions about making a living at the dog track from my readers than on any other subject. I can’t figure out why this is, but it raises some interesting points.
- I’m not the only one who knows that there are people who make a living at the dog track
- A lot of people are very dissatisfied with the jobs they have now and would like to do something else for a living
- Someone needs to write a book about how to make a living at the dog track
That’s not going to be me, however, although at the present time, my income does come mostly from handicapping. It wasn’t always this way. When I was younger, I had a “regular job” to support my family and the track was only a some-time thing, mostly for entertainment and a little extra “fun” cash.
That changed when we needed a downpayment on a house and had no other way to get it other than robbing a bank or picking some winning trifectas. I opted for the latter and managed to come up with the downpayment, but also realized that I hate betting on dogs under that kind of pressure. It makes it a lot harder to handicap, as far as I’m concerned.
So, I went back to handicapping to make money for fun stuff like vacations and little extras that I couldn’t afford on my paycheck. With only a few exceptions, including one memorable 4-day blitz to get funding for private school for my kids for a year, I haven’t tried to earn a living at the track.
If you have nerves of steel, a big bankroll to get you through the inevitable slumps where you don’t win for days, and can survive on very little sleep and can thrive on “track food”, you might be very successful at making a living at the track. Oh, and no family or friends you care about. That’s a given, because you won’t have time for relationships when you’re at the track all the time. Of course, that’s assuming that you have a good handicapping system that consistently picks winners.
If you do decide to go this route, make sure that you do it right. Use your system carefully and consistently. Keep good records and refine your handicapping method constantly, with the data you collect from your records.
Most importantly, don’t try to hide your winnings from the IRS. Keep records of your winnings and what you lose. Get a good accountant – one who understands the tax laws related to gambling winnings. Treat “making a living at the dog track” like a job, because that’s what it is.