Gambling for me is about not losing money, so when I’m betting on the horses I’m looking for ones I can back each-way and if they don’t win I still get my total stake back if they finish second, third or sometimes even fourth. Most races are a quarter or a fifth of the outright odds for a place, so depending on those terms a 4/1 shot or a 5/1 chance is the absolute minimum of interest.
Sometimes I don’t gain anything, but then I also don’t lose anything. Breaking even for a day at the races is always what I’m trying to achieve. When I went to Cheltenham for Festival Trials Day in January, I really liked the look of American - the Harry Fry horse - in the Cotswold Chase. He’d been below par in the old Hennessy, so I wasn’t prepared to back him win only at 8/1 for the big race. Lucky I went each-way as he came second, but I still made a little bit of profit from him on the place part of the bet.