It takes some time to learn how best to wager on horses and win money on a consistent basis. Part of the reason is people usually make the mistake of thinking they have to “win big or go home.” In most instances, they wind up going home broke. Professional gamblers understand they are in it for the long run and simply are trying to cash more tickets than they tear up. Money management is the key element to any gambling success, and professional bettors know to bet according to the size of their bank rolls and to avoid foolish impulse wagers that can cost them some or all of their potential winnings. If they have a chance to hedge a bet and guarantee a payout, that’s exactly what they will do to ensure they can keep wagering the next day while also growing their bankrolls.