1. Seek where thou wilt for winners, but bet only when thou seest value; deliver thyself from the temptation to bet in every race.
2. Put not thy faith in luck, nor the law of averages,
nor thy trust in staking systems, for these are delusions.
3. Let thy stake be related to the depth of thy pocket and to what thou regardest as the true chance of the horse; that which hath the greater chance deserveth the greater stake.
4. Thou shalt not bet each-way in big fields unless thou art well satisfied as to the value of the place bet.
5. Bet with book or Tote according to the judgement: thus shalt thou endeavour to get the best of both worlds.
6. Thou shalt not bet ante-post except upon horses that are known to be definite runners.
7. Beware the man who would sell thee a system; if thou knowest a profitable one, preserve it to thyself in silence.
8. Double and treble if you must; but bet not upon objections, for thou hast not the evidence and the stewards know not what they do.
9. Let thy betting be informed by wisdom and diligence, and tempered by patience and caution, and leavened but a little with boldness.
10. Let thy bets be well within thy means: he that maketh his fortune in a week loseth his ducats in a day.

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