We’re news you can bet on,
when it’s best to

Mar 8, 2005 5:04 AM

We here at GT attempt to always provide news and information that "You can bet on." But there are times when you should take it upon yourself not to bet!

It is very difficult to keep your head above water when it comes to gambling — the house always holds the edge. The most important aspect of wagering is when to bet, how much and when to hold off.

Most gamblers tend to make the same mistakes. For instance, after a hard loss the bettor will want action on another game even if the game is not appealing. It’s just a way to try and get that money back from the loss. A lot of times a bettor will bet more money on a game that they aren’t crazy about in order to get even. In fact, they will even attempt to go to the craps table or slots trying to recoup their losses.

I have been betting on horse races and sports since I was 12 back in my Steubenville days. Everyone bet back then and I really didn’t know it wasn’t legal until my late teens. Even my mother was a small bookie. I can now reveal this since she is now making book with the big guy in heaven.

My mother Mary was the high school crossing guard at Big Red and took bets on the numbers from almost every teacher employed there. She taught me to never press when you’re losing. In fact, she recommended betting less.

The bottom line is don’t press those bets when losing. Stay away from those alcohol induced wagers. They are the quickest way to the poor house. On the other side of the coin, when things are going good press, press, press! That’s the way to pad your "BR" (bankroll) when you’re luck and picks are not going so well.

The key is identification. Back off on bad streaks, step it up on good ones. If you stay with this process, don’t get caught trying to get even and avoid those booze bets, you will definitely stay in the game.

Checking the Derby

Looking at the Kentucky Derby trail, this past week trainer Nick Zito posted two nice wins as he continues his torrid run to the Roses.

The first was by Noble Causeway, who won a very nice allowance race on the same card with Mr. Zito’s other horse High Fly. The "Flyer" won the Fountain of Youth Stakes in a very game manner over the up and coming Bandini.

Right now it appears that Zito may just hold the best hand. Bandini, second in the "Youth," ran a huge race. It was the first time coming off the pace and he was still running past the wire in a huge effort. Look for Bandini’s presence to be felt in the Florida Derby.

Owner Robert Lapenta, Nick Zito’s main client, often lets Nick pick out yearlings to be sold for big bucks at age two. Lapenta had a pair of Fusaichi Pegasus two year olds but sold one.

That horse, Fusaichi Samurai, Zito had purchased as a yearling for $270,000 and got $4.5 million for him from owner Fusao Sekiguchi, who had the winning horse in the KD with Pegasus.

The other Lapenta horse by Fusaichi Pegasus is Andromeda’s Hero, who they paid $310,000 for as a yearling. The horse failed to meet his reserve at the Keeneland sales so Zito got to keep him as a reject.

As luck would have it, Samurai got hurt and is off the KD trail. However, Hero looks to be a big time contender for the "Run for the Roses."

It’s looking like Zito’s year, with everything seemingly falling in place

Ready for Madness

Next week officially starts "March Madness," but it looked like the championship game last Sunday in Columbus when the Buckeyes stopped the Illinois win machine with a late 3-pointer to win by one before a raucous crowd.

With nowhere to go this year for Ohio State (NCAA rules violations) this was their championship. After the game I talked to my good friend Eddie Gaughen, who has The Spot Bar on the Ohio State campus. He could only say "Wow!