BETTING FAVORITES. WHEN TO HOLD vs WHEN TO FOLD (From PA) I would be simply ecstatic if I could break even. How does the joke go, "Please God, let me break even today, I need the money".
If I remember right, Dave's HMI program has an example wherein the user is breaking even but with the MM concepts of HMI, he can show a profit.
And yes, back to the subject of this thread, they are two different concepts. I think this is anecdotal but I've always heard that on any given day, 95% of the people at the track lose and of that remaining 5%, about 3% (or maybe even 4%) are only winners for that day, the remaining 2% (or 1%) are the only long term winners. So to beat the game, you have to be in the top 1% - 2% of the people there at the track.