Many people advise handicappers to wager twice as much when they're winning as when they're losing. Then there are people who say the opposite is more likely to make you money. They say, when you start losing, bet two times the amount you usually do.
I've tried it both ways over my long handicapping career. All I can say is that both ways worked, and neither way worked. How can that be? Well, both ways worked sometimes, but failed other times. The reason is pretty easy to see if you think about it.
If you start losing, you might naturally feel pressure to bet more money, so that when you do hit, you'll hit more than you've lost. I've done it and it's worked, because on that particular program, I happened to hit something. Other times, I've done the very same thing and lost my shirt, because I continued to lose the bets I made.
Then there were times when I was winning, hitting small win bets and I thought to myself, "Boy, if I doubled up on these bets, I'd be making a lot more money than I am with these small payoffs." So I'd bet twice as much on the dogs that I picked to win and they'd come in and I'd get $6 instead of $3. Of course, I'd have to pay $4 to get it, but winning is winning.
However, at other times when I was winning and doubled my wagers, I stopped winning and went deeper into the hole than I would have, if I'd stuck to my original amount for my bets. It's obvious to me that the success of doubling your bets is completely dependent on whether the bets you pick from then on are winners or losers. This is why it's impossible to say whether it's a good system.
When it works, which it does sometimes, it's a good system, because it gives you twice as much return for your money. When it doesn't work though, you lose twice as much. So, if you can predict whether or not you'll continue to win, it's a wonderful system. But how many of us can do that with complete accuracy?