Taking Your Professional Skills to the Racetrack
In direct marketing, beware of any list that has not been updated within six months. Beware of any list that has not been NCOA’d and CASS-certified.
In terms of monetary value, a horse that has won $200,000 this year should probably be given serious consideration over a horse that has won just $20,000. This is the “M” equivalent of direct marketing.
Getting Inside Heads
To make an acceptable offer in direct marketing you must get inside the head and under the skin of your prospects. Think how they think, feel what they feel and become those people.
• In horse racing, you must get inside a group of heads:
- The Crowd. In horse races, the favorite is not necessarily the best horse. The odds are determined by the amount bet, which means the horse that has the most money bet on it is the favorite. In handicapping, it is imperative to always bet against the crowd and never bet on a favorite. In a horse race, you have 1,200 pounds of animal thundering along at an average of 35 miles an hour on legs with ankles as tiny as your wrist. With that potential for disaster, it is folly to make an even-money bet. Think Barbaro in the 2006 Preakness.
Instead, you have to study the past performance and figure out what the crowd did not see in another horse and bet that one. If the data on all the other horses get jumbled in your head, take a pass on that race. A corollary to the rule of never betting on the favorite was articulated by gambling expert John Scarne, who said, “Bet the favorite to show [come in third]. Forget about win and place bets. I don’t say this advice will win you any money, but it will cut down your losses.”