My new Free Horse Racing Tips will from tomorrow, start using a points system for recommended bets. The main reason, which you might have noticed if you read my articles on Staking Plans and Betting Bank and Bankroll Management, is I’m not a fan of a blind Level Stake bets, that takes no account of price or expected edge.
Backing at the advised prices is vital. You might think the difference between 9/1 and 10/1 is insignificant when it wins, but I assure you its huge. If your friend backs a tipsters selections at an average of 9/1 and has a 10% strike rate, he will break even. Not bad as long as he’s having fun. You on the other hand shop around, having opened multiple betting accounts and get an average of 10/1, on the exact same selections. You make a profit on investment of 10%, and believe me that’s a very good return long term. At the end of the year betting just €100 a week, you’ll be in profit by more than €500, while your friend will be wondering why he was so lazy. The only difference was you always got the best price. With all the great free bets offers for new sign ups, there really is no excuse not to avail of them, and then when a bookie has a price you want to bet at, you won’t miss it while signing up. Its very easy to take money in and out these days, so it’s not as if you need to leave money sitting in the accounts.
The Staking scale used will be from 0-10 points. So if your using €10 as 1 point then the stakes will be €10 to a maximum of €100. For lay bets on a Betting Exchange a recommended 3 point lay at 3.0 would have a liability of 6 points. The liability for Betting Exchange tips will not go above 10 points.
My staking will resemble advice I gave in Staking Plans and Betting Bank and Bankroll Management, so please read them for more info. I will be staking to return roughly 12 points which would mean a 1 point bet at 11/1 and a 6 point bet at 1/1. It will be adjusted upwards for bets I really strongly fancy.
Suggesting an ideal betting bank depends on whether you have the ability to replenish it, or if it’s a lose it, and your bust bank. A 200 point bank would be a pretty safe bank to use. Ideally you should adjust what 1 point is for you, according to your bank size. If you start with a €2000 bank and €10 a point, and now have only a €1000 bank then 1 point should now be just €5. Alternatively if your bank has grown to €4000 then €20 a point would be better to maximize profits. A 200 point bank for staking to return 12 points is a pretty conservative approach and only really applies if you have no other source of income. If you can replenish funds then you don’t need anywhere near that amount at any given time.
I will be giving both Beat the Bookies tips and Betting Exchange Tips. To maximize your profits, or minimize your losses you need to always get the best price. So start signing up for those new accounts and avail of the free bet offers while your at it.