Wednesday racing summary

Two more losing bets today, and I'm having to weather a period without collecting. The merits of my 'value' system came to the fore though, as it meant I avoided laying an 11/2 winner.

Treasury Counsel was contesting a class 3 handicap hurdle at Kempton. To date he had only won a maiden hurdle in a lower class, and finished well behind on his last outing. I was conscious he was only giving weight to two horses on his handicap debut, and was potentially well-treated, but nonetheless I would have been happy to lay substantial bets against him at a price of 5/2 or lower. I was anticipating the trainer/jockey combination of Mssrs. Henderson and Fitzgerald would help artificially shorten the price, but it never dipped below 11/4 on Betfair. In fact the price drifted like the proverbial barge, and you could have backed the victorious Treasury Counsel at an amazing 6/1 in places, so it goes down as a 'no bet.' Effectively 12 points profit saved.