A good read

I've just completed reading A Bloody Good Winner by Dave Nevison. He is a professional horse player, having made his living at that risky business for several years. It's an autobiography, and quite entertaining. There is quite a bit of English slang in it which can be understood if you infer the meaning from the context, and several of the betting aspects are quite foreign to me, as the Brits bet in a manner quite different than here in North America. Nevertheless, it's a very good read, if your tastes run in that direction. The activity is not much different than that of a commodities trader, something Nevison had done for some time as well.

I generally enjoy real life accounts like this of people who are not afraid to risk all, and back their opinions up in a way that matters. In the horseracing world, only Steven Crist's Betting on Myself comes close to this book, although there are other accounts of trying to make it as a pro, but usually written by people who are not intent on making a living at it. I have met a few people who do make a very good living at this endeavour, and they have all been quite intelligent, interesting people. I had the opportunity to join a dinner table with Tom Brohamer (Modern Pace Handicapping) several years ago. He had left a secure, well paying job to take up betting on horses in Southern California on a full time basis, and reported that his income, while not as stable, was on a par with his former job. The difference was that he was enjoying himself a whole lot more.

The one thing all of these people doing this have said is that it is hard work, and consumes a lot of time. Both Brohamer and Nevison made mention of the importance of being able to take some breaks, to avoid burning out or getting sour on the whole enterprise. Pretty much why we are all encouraged to take breaks from time to time in any job. The business of betting on horses, or playing poker for a living has a certain appeal - it's much like that of any professional athelete; getting paid to do what others do only for recreation. In the betting enterprise, however, there is always the risk of devastating financial loss of you have a few off days. As Nevison puts it though, he is addicted to getting it right (especially when others get it wrong). It's a strong validation of our judgement. And that is something we can all appreciate.