In plain English, this says that your edge is equal to the amount of money you can potentially win [odds], times the probability of winning [your hadicapping or system], minus the amount of money you place at risk [your bet], times the probability of losing [the remainder after your probability of winning].

Everything we do in horse race betting is wrapped in that little equation. We just have to worry about four little things: improving handicapping, improving odds, improving betting strategies, and decreasing losses. This shouldn’t take very long ….......