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12th March 2010
Todays ramblings

Good Morning

It’s Friday.

The F1 season kicks of this weekend at Bahrain. If you check out the F1 2010 drivers championship betting on betfair you will see it’s pretty close as you would expect this time of year.

With no refuelling and new designs and some pretty good driver line-ups it should be a really interesting season. I will be really surprised if just one driver dominates.

Last week I ask the question …

“What size bank do you think you need in order to make a steady income from betting if you only had one selection a day and it was a lay with an average price of say 20.00?”

http://www.horseracingsystemsuk.com/newblog/?p=216

It was good to see a couple of people took the time to post their thoughts on the matter, although a few more would have been nice.

Anyway as I mentioned in the article it was a little bit of an open question and it would depend on a number of variables including average price, success rate and the percentage of your bank you are going to use.

I did cover a lot about this subject in my emails last year and even created a piece of software for http://www.cyobs.co.uk members to work it out for them.

http://www.horseracingsystemsuk.com/newblog/?p=164

 Just remember your friends are Strike Rate and Average Odds, the more accurate you are with these two figures the better chance you have getting your stake amount correctly worked out, so that after all your losses are taken into account you still make money.

I think that lay systems are probably the hardest to predict and if you have lost money through following one then you will know what I mean.

Getting your stake size and type correct is really difficult to do especially as lay systems that use higher odds can have quite a few winners before getting a losing bet.

It can also be quite difficult to deal with the larger losses associated with laying and that is why, I always advise people to decide on a maximum percentage of their bank they are prepared to lose when they hit a loser, but also the maximum % of their bank they will make available to the system as a whole.

I think Michael said this very well in his blog comment…
“If have had a quick look and estimated that if you had a 2% edge on your bets then you would be winning 97% of your lays if every horse was layed at odds of 20. Over the course of a year you would expect to lose 10 bets (if having 1 bet per day) and you would achieve a profit of 127.30 units after commission. The longest expected losing streak would be 2 but you could have multiple streaks close together. You could go down by 100 units laying like this if you hit a bad patch and so I would want to bet with a 200 unit bank and betting 1 unit to stake.”

If you lost over 100 units you would have to ask yourself if this system is actually performing how you were expecting it to!

That’s it from me today but I will pick this subject up again next week because I feel it is important enough for you to get a good understanding of what it is going to take for you to make money.

Thanks for reading.

Malcolm

P.S You know I will where I will be at the weekend…Glued to the telly watching the Grand Prix!

P.S.S. Not such a long walk for the dog.
 


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Sponsor Tip of the day.

Monday. Lay Back Racing.
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Tue Bills321lays
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Wed Luv 2 Lose
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Thu The Almost Certain Nap
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Fri Selections 4 profit Sat Prize Lays
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Please Note: You will only be able to view these pages on the day assigned to the selections.


Other Information (" Here is some other info that should help you")
I Prefer betfair.com

 "The Deadly Sins of Gambling" (make sure you check these out)
If you need help about anything please go to my support site.
If you haven't joined Betfair yet then when you do enter the code 7TUN3TCFP this will also give you 20 when you have reached 50 betfair points.

You can automate your betting with GHB.
http://www.greyhorsebot.co.uk/

Please tell your friends about this daily tip and pass on my URL

http://www.horseracingsystemsuk.com

Have a good days racing.

Malcolm

Malcolm@horseracingsystemsuk.com
http://www.laybetting.com
http://www.horseracingsystemsuk.com

P.S. How about something different...
Also check my blog here
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