100-year old wisdom

Here is the distilled wisdom of the most revered "winning" horse player, George E Smith aka "Pittsburgh Phil", condensed in just a few sentences. The remarkable thing is even more than 100 years later, you will not find much to add to his observations. Check out the legendary gambler's truisms below:

On horse-jockey combination:
A good jockey, a good horse, a good bet.
A poor jockey, a good horse, a moderate bet.
A good horse, a moderate jockey, a moderate bet.
If there are two or three very fast horses in a race, one or two of them will quit before the end of the journey. Hence look out for your intelligent jockey.
The majority of the riders and horses are game and will fight for victory no matter where they are placed.

On the physical condition of a horse:
If a horse is not in good condition he might as well be in the stable.
Condition has more to do with a horse winning or losing a race than the weight it carries.
A horse in poor condition cannot beat one of his own class.
A high class horse cannot win a race with a feather on his back if he is not in condition.
It is as well to play horses that are in winning form. A horse in winning condition generally repeats or runs into the money.
A horse that is not contented in his stable cannot take on flesh and be happy.

On what habits a winner should possess:
A man cannot divide his attention at the track between horses and women.
All consistently successful players of horses are men of temperate habits in life.
The racing man should arise in the morning cool and clear headed and should then take up the problem of the day.

On general tenets of handicapping:
A man who plays the races successfully must have opinions of his own and the strength to stick to them no matter what he hears.
Successful handicappers know every detail in regard to the horses upon which they are intending to place their money.
A horse wants to race if he is a thoroughbred, just the same as a game chicken is anxious to fight. As a gambler, even you need to be at your best when making decisions. If you feel yourself getting out of form, then take a rest and freshen up.

On racehorses:
A horse that frets is a very dangerous betting proposition.

One race for a horse is equal to two or three private trials.
Horses are the same as human beings where condition is the test of superiority.
Winners repeat frequently while the defeated are apt to be defeated almost continuously.

On trainers:
There are few trainers who can send a horse to the gates the first time out in perfect condition.

Honest horses, ridden by honest jockeys, are sometimes beaten by honest trainers. With best of intentions at heart, they give foolish instructions which result in a sure defeat for the horse.

A good trainer does not overload the jockey with instructions.

On cheating in horse racing:
Many killings are attempted, but few are accomplished.
Look for defect in your own calculating rather than cheating of others.

The less one thinks of crookedness and trickery in racing the more successful will be his handicapping.
There is enough natural inconsistency in horse racing without having it forced upon the public by unscrupulous men yet there is not one-tenth of one per cent, as much crookedness on the turf as it is given credit for.

On money management:
You cannot be a successful horse player if you are going to get the worst of the odds all the time.
The basis of all speculation is the amount of profit to be obtained on an investment.
It is not bad speculation to pick out two or three sure looking bets and parlay a small amount.
Cut your bets when in a losing streak, and increase them when running in a spasm of good luck.
Double your wagers when you have the bookmakers' money in hand.
Learn to finance your money to advantage.
Know when to put a good bet down and when not to.

And finally, some general truths:
Special knowledge is not a talent. A man must acquire it by hard work.

A poor man's horse and his $10 bet speak as loudly as a $10,000 bet from a millionaire. It is the horse that must be considered.
Time enters into the argument under certain conditions, but if depended entirely for a deduction it will be found wanting.
The ability to tell whether a horse is at its best before a race is acquired only after years of the closest kind of study.
Class in a horse is the ability possessed by it to carry its stipulated stake weight, take the track and go the distance that nature intended that it should go.
The resistance of the wind is very great in a horse race and it is correspondingly great when acting as a propeller. Wind and atmosphere have considerable effect on horses that are troubled in their respiratory organs.
Watch all the horses racing closely. You may see something that will be of benefit later on.
Different tracks cause decided changes in form frequently. Study horses' whims and fancies for certain tracks and you will see a good "lay" or a good "play." But a high class horse will do his best on any track.
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Quotations from the 'Racing Maxims and Methods of "Pittsburgh Phil" ' Copyright 1908 by Edward W. Cole, Turf Editor of the New York Evening Telegram.