Sidney Harris is a notable figure in the world of professional gambling, known for his remarkable transition from the stock market to horse racing. His journey into the world of horses began in his mid-forties, following a successful career as a stock market trader. One of his most famous moments occurred on Black Monday, October 19, 1987.
While many financial advisors were paralyzed by the market crash, watching their fortunes evaporate on their screens, Sidney saw an opportunity. During a lunch break, he placed a bet predicting that the market would continue to fall amidst public panic. His bet paid off handsomely, netting him over £60,000 on that chaotic day. Sidney was among the few who could spot a profitable opportunity in the midst of adversity.
After retiring from the stock market, Sidney dedicated his life to horse racing. Over time, he built a network of valuable contacts within the industry. By the time he penned his book, Horse Racing: The Essential Guide to Backing Winners, Sidney had been a professional gambler for seven years. He recalled how his journey as a professional punter officially began on August 26, 1993, just one day after one of the world’s largest bookmakers decided to suspend his accounts, citing concerns that he was winning too much.
Sidney Harris’s approach to gambling is methodical and strategic, far removed from relying on luck alone. He believes that while each punter’s journey is unique, common mistakes and misguided beliefs can lead to repeated failures. According to Harris, having a well-defined strategy is crucial to recognizing and correcting errors. Developing a sound, common-sense approach is vital.
Fundamental Rules for Gambling: Sidney Harris’s Suggestions for Professional Gamblers:
Never back a horse unproven on the going.
Never back a horse from an out-of-form stable.
Never back a horse unsuited to a track.
Never back a horse ridden by a jockey with a poor track record.
Never back a horse whose trainer has a poor track record.
Bookmakers often promote horses that meet one or more of these conditions as “favorites,” but Sidney warns that these are usually losing bets. By filtering out horses that fall under these categories, punters can significantly narrow down the field, saving themselves time and money. Statistically, it is rare for a horse with such detrimental characteristics to win a race. Harris advises that your potential selections must pass these fundamental rules.
What to Look for When Picking a Horse:
Back trainers who are in form. You can check this in the “today’s trainers” section of the Racing Post or on their website.
Support trainers with a strong record at familiar tracks. The Racing Post’s Top Trainers section for a particular track will show which trainers are likely to be contenders.
Aim to back jockeys with a good track record. The Top Jockeys section provides insights into jockeys who consistently perform well at specific tracks.
Consider horses with multiple future entries. This indicates that a trainer is actively seeking the right race for the horse. Horses with multiple entries deserve extra attention, especially if they’ve been withdrawn from higher-grade races to compete in lower-grade ones.
When asked for advice to amateur or semi-professional punters, Sidney Harris emphasizes the financial dangers of horse racing. He warns that it is possible to lose everything, including your home, by betting on racehorses. The key to finding winners, he says, is awareness. Every decent-priced winner starts with a clue among hundreds of possible indicators. Once you identify these clues, you are on your way to uncovering profits.
In conclusion, Sidney Harris is a highly educated, self-made success in the world of professional gambling. By applying his business acumen to punting, he has turned it into a profitable venture. Following his guidelines could lead others to similar success.
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