Parlay Show Bets--and Go Home Happy

Many years ago at one of the horse racing books in Las Vegas, two youths were down to their last $2 after blowing their money on craps. Losing the $2 meant finding a job or looking for handouts, and neither idea was really a good one in Las Vegas. After much debate, they decided, as any gambler would, to bet the $2 to show on a horse they had picked from the Racing Form. They won. Feeling lucky, they decided to bet their entire bankroll to show on another nag. Again they won! Needless to say, they won nine straight show bets, parlaying their money after each win. Thus, they ended up with about $83, which bought them dinner and got them back to Los Angeles.

Actually, they had played one of my favorite systems. If you’re the sort who can’t stand to take the time to handicap, who finds the small type just so much gibberish but who enjoys the thrill of racing, the roar of the crowd and a small wager now and then--a show parlay on public favorites may be just your cup of tea. Even if you’re a hardened race track veteran, an old warhorse looking for a sure thing, this system could be for you. A show parlay on favorites might be just right when your money starts dwindling or when the races aren’t all that promising.

If you simply stick to making automatic show bets on public favorites, the system, of course, eliminates all thinking. Instead of going through a maze of calculations that might complicate a pleasant day at the track or force you into taking aspirin for a headache, simply scan the totalizator board, an electronic device in the infield in front of the grandstand, club house and turf club that records all betting on win, place and show. Best of all, when most everyone goes home a loser, you, happily, can end up with a profit!

The horse with the most money wagered on it to win and the one with the lowest odds becomes the public favorite every race, day in and day out. It also becomes your choice to show.

It’s that simple! Nothing complicated.

What the system requires, however, is patience at the beginning as you’re building up your bankroll. Heavy favorites--and you keep betting them no matter how low the odds drop--may put a lid on your profit, particularly during the first three or four races, but don’t despair. It may seem boring at first but, believe me, it gets exciting as you keep winning.

At this stage of the system, you shouldn’t be concerned with how much you’re betting or winning, but only with continuing the show parlay. Remember, winning all races without a loss is your main objective. It’s what will get you a big payoff for a small investment.

When winnings begin to increase more than 500%, that’s when bettors will need all their will power. The problem with many horse players is that they genuinely intend to parlay all nine races. However, when actually faced with making a large bet, they suddenly decide that a buck in the hand is worth two in the bush. So they quit and take their profits or they pull back part of their winnings and continue the system.

True, they’re ahead of the game. But what they fail to realize is that getting ahead is only a means to an end. When in front, say $25, their risk is still only $2--their original investment!

Consider the story of the hard-nosed race track gambler who parlayed eight straight win bets from $2 to $25,000. He lost the $25,000 on the ninth race. When he got home, his wife asked him how he came out for the day.

“I dropped two bucks,” he answered.

This should be your attitude. You’ve got to go all the way and forget any intermediate profit.

What are your chances of show parlaying all nine races?

Seemingly astronomical! Still, it’s a lot better than making a bet based on the length of a horse’s tail or the color of the jockey’s eyes. As a matter of fact, your chances are pretty good when you consider that public favorites at race tracks across the United States win about 28% to 32% of their races. Also, figures disclose that these same favorites run in the money about 60% of the time.

So exactly how does the system work?

On Oct. 8, 1989, the fifth day of the Oak Tree season at Santa Anita race track, all nine favorites ran in the money. Here’s what they paid for show:

Race Horse Payoff 1 Lady Kell 3.60 2 Remar 2.80 3 Kaboi 2.40 4 One More Work 3.40 5 Table Frolic 3.00 6 Motel Annie 3.00 7 Naevus Star 3.80 8 Political Ambition 2.80 9 Field of View 3.00

Your race by race betting would have been:

Race Bet Win Total Save 1 $2.00 $3.60 $3.60 $1.60 2 2.00 2.80 4.40 .40 3 4.00 4.80 5.20 .20 4 5.00 8.50 8.70 .70 5 8.00 12.00 12.70 .70 6 12.00 18.00 18.70 .70 7 18.00 34.20 34.90 .90 8 34.00 47.60 48.50 .50 9 48.00 72.00 72.50 --

After deducting the $2 you bet on the first race, your profit for the nine races would have been $70.50.

And don’t for a minute think nine favorites rarely show. It’s less of a long shot than you might imagine. On Oct. 14, at the same Oak Tree meeting, the favorites again ran in the money. Here’s what they paid: 1. Go Steady Lad, $3; 2. So This Is It, $3.60; 3. Feeling Tipsy, $2.40; 4. Tight Spot, $2.40; 5. Movinglikeawinner, $3; 6. Love Beat, $2.40; 7. Dramatic Joy, $2.60; 8. Hawkster, $3.40; 9. Smart Deception, $2.80.

Your profit, after deducting the $2 initial bet, would have been $31.90. Not as much as on Oct. 8, but still a substantial amount for $2.

Of course, if you’re a conservative bettor, you’ll never go for broke on all nine races. What you should do is set a win limit. This can be any amount. No matter what the limit, however, make sure it’s set at the beginning of wagering. And once the amount is reached, you can start over again with your original bet or you can cut your profit in half and start over. Either way, you’ll end up winning for the day.

Also, no matter how you bet, if you win a few races and then lose, don’t worry. Just begin again. Under no circumstances, however, do you increase your bet. Many times, when I lost the fourth or fifth race, I started over with a $2 bet and I still ended up with a profit for the day. I didn’t break the bank, but I didn’t lose either. The point is, losing one race isn’t a catastrophe. Just stick with the system.

And if your Aunt Minnie wins more often by picking names out of a hat or your Uncle Max wins big by wagering on the names of his nieces and nephews, don’t be discouraged. Continue the show parlay.

And what happens when you run out of dough? You won’t really, because you’re not investing all that much. In any case, don’t go looking for the city’s tallest building. At least, you’ll have to admit, it was fun while it lasted!

BETTING THE SYSTEMS will be published each Monday in the Late Final of The Times. It is written by staff writer Norman Dash, a newspaperman for 30 years.