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The importance of bankroll management in horse racing was discussed in a recent lecture. The speaker emphasized that many professional handicappers have lost their shirts due to poor bankroll management, resulting in financial ruin. To avoid this, the speaker recommends setting a specific amount of money aside for betting on horses, which should not be used for living expenses. This “bankroll” should be separate from funds used for daily living expenses, rent, and other necessities.

The speaker also suggests consistently betting a percentage of the bankroll, typically 2-3%, to ensure long-term success. This approach helps to mitigate the risks associated with horse racing, where unexpected events can occur. By betting a fixed percentage of the bankroll, the speaker believes it is possible to achieve a high level of success over time.

In conclusion, the speaker emphasizes the importance of bankroll management in horse racing, as well as the need to set a specific amount of money aside for betting. Consistently betting a percentage of the bankroll, rather than everything at once, can help to ensure long-term success in this challenging and competitive sport.