Thursday racing summary

Two more losing win bets. There's never much to say when I hit a bad spell such as this. It's a little like the embarrassing silence when you get into a lift with a stranger - I can't even say what nice weather we've been having, because that's been c**p too! Writing a blog is easy and fun we you're having success, but believe me it's a lot harder when you have to admit you are losing people money day after day.

But then that's hopefully what makes this blog, and my service, different from other tipsters who will shy away from a losing run, only to re-appear when they have positive news. I try to tell it like it is, and the truth is, when you are betting every day for a living, you WILL experience lean periods where you seem to be forever giving away your 'hard-earned'.

First day of summer tomorrow....

Wednesday racing summary

No success to report today, only five losing win bets.

Apologies for the late arrival of today's message. We employ a US-based software system to deliver our bulk emails, and today the site was unavailable due to what they called 'essential system maintenence'. I have to say that 99% of the time Aweber provide a top class service, but when they shut things down, albeit 'overnight' where they are, unfortunately it coincides wih the middle of the morning here! Sorry for any inconvenience and normal service from them has now been resumed.

I hope to be saying the same thing about my betting service soon....

Bulk email service off-line

Apologies to those of you still awaiting today's message. The Aweber email delivery service is currently off-line for system maintenance and we are unable to send any mass messages until it is available again.

If you send me a message by email I will respond with today's selections.

In the meantime I apologise for the inconvenience, but unfortunately third party services are beyond our control. I shall release today's message 'en mass' just as soon as I am able. Thank you.

Tuesday racing summary

A loss of two points on the account today, as all three of my win bets failed to spark.

I managed to get a point back by successfully laying Full Victory to lose at Chepstow. The last time this horse won in this kind of company was a year (and 13 races) ago, and off a lower mark. Returning to a stiff track such as Chepstow, I didn't see enough in his recent form to suggest he would be back in the winners enclosure today, and he finished third.

The Value Horse Method

If you have been a member of my service for any length of time, or perhaps you've read a few of my articles on my web site, one thing I sincerely hope you recognise is that I bet only when I believe I am getting value for money. Betting for value, and with the odds in your favour, is the only sure way to make a long-term profit from gambling.

Today I want to introduce you to the Value Horse Method which will show you how to uncover the 'value' bet in any race-card.

Have you ever thought how satisfying it would be to have a method of selecting horses that consistently produces profit, month after month? How good would it feel to know that the odds compilers are powerless to protect themselves from your selections? If you want to make that dream become a reality you need to read about the patented "Value Horse Method". This low-risk betting method is not only unique, it is also bullet-proof and market-resistant.

If you are new to betting on UK horse racing the "Value Horse Method" is the best way of consistently finding value bets and profiting by punting on horse races. Or you may be like me, a serious punter who either earns their living from betting, or at least generates a substantial second income from UK horse racing, then the "Value Horse Method" will become the main weapon in your betting armoury. I first learnt of this method a couple years back, and its teachings are still the cornerstone of my betting strategy.

If you were offered odds of 100/1 on it snowing next Christmas would you take the bet? If you would, you could class yourself as a "value bettor". You INVEST your money rather than GAMBLE as probability is on your side. If you took the same bet for the next 100 years, in all probability, you would make a healthy profit.

I have made a living from betting for more than 10 years, not from betting on snow at Xmas but by finding "value horses". On an average day I will often find more than five horses that represent excellent value because the odds that are being offered are far higher than they should be, given the probability that the horse will win.

In the book "The Value Horse Method" you will discover exactly how to find these horses and how to make betting on them into a low risk, high reward method of betting.

If you are following my advice on a daily basis, this book will give you a unique insight into how I find horses worthy of putting up as a bet. If you prefer not to rely on professional tipsters, and are much happier when you can pick horses yourself, then this guide will pay for itself many times over.

Discover the "Value Horse Method" at www.reddracing.co.uk/vhm

Flying Doctor to the rescue

I don't know about where you are, but it was a miserable Bank Holiday in Hertfordshire, and today's results did nothing to bring any rays of sunshine. I had three win bets, but two were losers although in the frame. Flying Doctor clawed the losses back however.

But the real frustration continues with my lay bets. After last month where we scored 46 points profit, this month has been a genuine case of two steps forward, two steps back. Today I got off to a good start by overturning the 7/4 favourite Twitch Hill at Chepstow. But within the hour at Leicester I was against Balakiref in the class 5 handicap over 6f. The last time he won, was in this very race last year. Since then he had shown inconsistent form. I didn't think he was worthy of favouritism today, but I was proved wrong and he took 3 points from me.

Sunday racing summary and weekly results

A one-bet wet Sunday is what it was today! I had but a single punt, on Rustic John at Fontwell and he finished 4th. The price on my lay bet went north instead of south, and never became available to match at a low enough price, so goes down as a 'no bet'.

The week as a whole since Monday has been nothing much to speak of. The win bets made just short of 4 points profit, whilst I just barely managed to get my stake money back on the lay bets. Still, I would much rather see a plateau on the profit curve, than a dipping slope.

Profit for the week: Win Bets 3.5 pts, Lay Bets 0 pts

Saturday racing summary

A most welcome set of results this afternoon, and it certainly didn't take long to redress the poor showing from Friday. Yesterday I suffered a losing win bet, and also took a sizeable hit when laying Record Breaker for a loss of more than 7 points at Goodwood.

Today we bounced back with two winning bets from three, courtesy of Prime Defender and Just Lille. Prime Defender was shortening all day, so you will have benefitted most by taking the 7/2 available on the exchanges this morning. By contrast, the price on offer for Just Lille went out as far as 4/1

Two successful lay bets today as well: my bigger bet was to be against Sandrey in the class 2 heritage handicap at Newmarket. His best form coming into today's race was a win at class 4 and today he was due to carry an extra 9lbs for that win. Yet here he was, the favourite for a heritage handicap, and I lost track the number of times the Channel 4 presenters said the 7/4 was a "crazy price". The punters were still piling on when the stalls opened, and he went on to trail in last.

And so, almost 11 points profit on the day.

Thursday racing summary

Another subdued day, and I got involved in only three races, but I still finished the day with a bigger balance than this morning. I waited until the end of the afternoon to see Genari finish unplaced at Goodwood.

However, I opposed two race favourites successfully, to give me a point profit overall. The first of these lay bets was Cabinet, who lined up for a class 4 handicap, with only a win in a class 5 maiden to his name. Today he was giving weight to all but two of his rivals, yet he was sent off the 7/4 favourite - the price undoubtedly influenced by the trainer/jockey combination of Mssrs Stoute and Dettori. He finished fourth.

Drifting Gold takes silver

A quiet day, and come the end of the afternoon, no movement on the account. I had a bet with the 16/1 shot Brave Vision at Ayr, but without success.

My lay bet came by way of opposing Drifting Gold in the class 4 sprint handicap at Lingfield. She won her maiden on her last outing. Some would say she now has winning form, but my take was that she has only ever beaten horses that have yet to win themselves. And today she was stepping up in class, and into handicap company. I felt the task would be a stiff one to win, and at 7/2 and under I was prepared to take her on. She was returned the 9/4F and found one too many, to give me a point profit back.

An Introduction To Laying Horses To Lose

Bookmakers have been laying bets on horses to lose ever since horse racing began. As punters having a bet on a horse, we are actually involved with laying horses every time we have a bet. We are simply on the other end of the transaction. To back a horse, there will always be somebody who must to lay the bet. Yet so many people think they are unfamiliar with laying horses, so they shy away from it entirely.

This article will not show you how to make a profit by laying horses. It will not even explain exactly how you lay a bet on a horse to lose. My intention when writing this article is merely to demonstrate that laying bets on a betting exchange is not some kind of ‘black art’ and there is nothing ‘smoke and mirrors’ about it.

Traditionally it has always been the bookmaker who has taken on the role of laying bets. This allocation of responsibilities is something we are all used to, and comfortable with. But let’s examine the mechanics of placing a bet:

In this example, let’s assume we are going to back a horse called General Account at a price of 3/1 and for a stake of £10

We approach a bookmaker and this is what we are offering: we are prepared to risk our stake of £10 on the chance of this horse General Account winning the race. The price we are happy to accept is 3/1 If the horse loses, we will give the bookmaker our stake money. However, if the horse wins we shall take our stake back, and furthermore, we demand that the bookmaker gives us three times our stake money as profit.

In placing this bet, we are of the opinion that this horse will win – it stands to reason, if we didn’t think it would win, we would not risk our stake money.

I make no apologies if this explanation of placing a bet is perfectly obvious to everybody. Like I said earlier, we are all totally familiar with this typical transaction.

Now remember, in order for a bet to be struck, the bookmaker must also agree to the terms on the table. To lay the bet at the price of 3/1, the bookmaker is happy to risk three times our stake. To take our bet, the bookmaker is of the opinion that General Account will NOT win the race. If he thought the horse was going to win, he would not accept our bet, or at least he certainly would not wish to risk so much money, and would not agree to a bet at 3/1

Hopefully you can see that the only difference between a punter and a bookmaker is their opinion of who will win the race – we think General Account will win, and the bookmaker disagrees, and we are BOTH prepared to put our money where our mouth is.

In effect, where a punter is betting that a horse will win, a bookmaker is simply betting that the horse will NOT win. It is no more complicated than that. Nothing devious, and nothing untoward.

Since 1999 and the introduction of Betfair as the first mainstream betting exchange, we all have the opportunity to play the role of bookmaker. Betting exchanges are simply a forum where you can find another punter who has the opposite opinion to you, and match his/her bet.

If you turn out to have the better judgement, then you will win. If your ‘opposite number’ on the betting exchange turns out to be right, then you will lose, and you will have to pay the man/woman their dues. It is no more complex than that.

At the end of the day, laying horses to lose may still not suit your betting temperament. But hopefully this article will have given you the confidence to find out more. Despite what you may read, making money by laying horses is no easier than trying to profit by backing horses. In fact there is absolutely no difference in terms of risk.

As a punter, if you are happy to put some money behind your opinion that a horse will win, there is absolutely no reason you shouldn’t also give yourself the opportunity to profit, if you feel a certain horse will not win a given race.

To learn more about the mechanics and ‘how to’ of placing bets on the exchanges, Betfair has a very good Help section and if you are new to betting exchanges I recommend you pay a visit.

Diminuto turns in a virtuoso performance

A wholly acceptable day at the office today, and a 4 point profit to show for my efforts. I had four win bets, and Diminuto ensured a profit with a good win at Southwell. The horse was returned at 11/2 with plenty of 6/1 available on the exchanges.

My one lay bet was Paddywack, the morning favourite in the sprint handicap at Beverley. He had not won off this mark since 2004 and so I was keen to lay him if the price was not too extortionate. If you didn't leave it too late you could lay bets at 5/1 this morning, before his price weakened to a SP of 15/2. He never figured at the head of the race, and I took a single point profit.

Monday racing summary

A frustrating day today. From a total of seven proposed win bets, only one horse became available to back at my advised value price. Master Albert was a disappointment, and finished unplaced. I picked two winners in Blandings Castle and Singhalongtasveer at 3/1 and 7/1 respectively, but they will not appear on my results as I suggested waiting for higher prices.

I opposed four horses today, but two of these went on to win, and overall I made a small loss of less than one point. Lunar Crystal was running in the selling hurdle at Newton Abbot this afternoon. Recently he has contested two claiming hurdles races, after running in much higher class company earlier this year. Although he clearly has the ability to win this kind of race, the very fact that he was again running at this lower level begged a question about his current fitness. Below even money I was happy to lay a small bet, and on this occasion I was wrong, and he justified a 4/5F price tag.

No real damage done to the account overall, with a loss of less than 2 points altogether.

Weekend racing summary and weekly results

Before I summarize the week's results I will just bring you up to speed with this week-ends racing. Friday returned three losing bets, but this was quickly countered by yesterday's 100% performance. I advised both Ascalon and Peppertree Lane to beat the odds-on hot favourites in their respective races, and they both succeeded at 5/2 and 9/2 respectively, with better prices available on the exchanges. Today my only back-to-win selection was New Perk at Fakenham, who came second.

I've had a fairly good week-end opposing horses. On Friday much of the profits taken by laying Sea Rover were nullified when Jalina won. However, yesterday I had a successful three point bet against Regal Flush in the London Gold Cup heritage handicap at Newbury.

Today I was laying Triple Beat in a maiden stakes at Ripon. Having finished fifth but only a couple of lengths down in a class 4 event, it both surprised me to see the horse dropped in class to race today, and left me with doubts around the trainer's confidence the horse would stay the extra furlong. He finished third, after the front two finished stronger in the last furlong.

The week from Monday has shown a very solid return of just over twelve points profit from backing horses. On the other hand my results from laying horses are still struggling this month. The lay bets this week showed a small loss, and so far this month have only just managed to break even. I'm looking to a good final week or so, to produce a respectable few points profit. But as long as the Win bets continue in such sparkling form, then I shall not be too concerned - many is the time the lay bets have propped up the win bets in the past, it's only just they return the favour.

This week's profit - Win Bets: 12pts, Lay Bets: -1pt

Quantum Leap shares the spoils

The difference between profit and loss today was a nostril - or a single pixel if we are talking in metric. Quantum Leap and Stamford Blue were judged to dead-heat in the last race at Salisbury, and so we only collected at half the odds of six-to-one matched on Betfair. My other two losses meant our profit was a mere one point.

The first of my lay bets duly lost, but I lost 2.5 points when Bollin Derek won at exchange odds of 5/2, and so an overall loss of a point-and-a-half. Today's win for Bollin Derek was 5lbs higher than his previous best winning mark, and so represented a career-best performance. I've managed to find several horses this week, turning in their best ever performances when my money has been against them - more's the pity. One thing is for sure - I will have a string of horses falling well short of expectations again very soon, and steer the lay account in the right direction once more.

A superficial scratch on the account, with a loss of a half point overall.

Dusky Warbler is certainly on song

A relatively quiet day in the end, with only two qualifying bets. All but one of my proposed selections to win came up short in price, and so they go down as 'no bets'. Dusky Warbler however, was a very attractive 2/1 at the end of the morning, before being bet right in to 11/10 favourite at the start. He produced a game run this afternoon at Fontwell, recovering from a blunder to win in the final few yards.

My one lay bet was Tredegar in the Blue Square handicap stakes at York. I suggested yesterday that if I picked an improving horse in this race to lay, then I needed to be shot. I've managed to pick two winners recently (not what you are looking for when laying horses to lose), with that exact same angle, but thankfully today I was on the money. Tredegar had won his maiden, and subsequently a class 5 race. But on his last outing he stepped up to contest a class 2 handicap, similar to the race this afternoon, and showed no evidence of winning at this level on that mark. I saw no reason to expect a dramatic improvement to win today (although that's what I said about Off The Record and Whitbarrow, yesterday and Monday) so I was a nervous spectator as the stalls opened. I need not have been so concerned, as he trailed in last to give me a much-needed point profit for the lay bets account.

All-in-all a good day, two successful bets from two, and 3 points profit to squirrel away.

Tuesday racing summary

Four bets today, none of which bore any fruit. My three back-to-win bets all lost, and my lay bet won. Couldn't have gotten it any more wrong I'm afraid, and just under 5 points lost.

Following on from yesterday when I opposed Whitbarrow, I went against another handicap horse putting together a winning sequence, again at Southwell. Off The Record was also stepping up in class, and carrying a 9lb penalty for his last win. I thought the handicapper had given him too much to do, but as with Whitbarrow, he went and won anyway! If I nominate another improving horse tomorrow, even if he is coming off a win in a class 6 handicap at Wolverhampton to race in the class 2 Blue Square stakes at York, and even if he is carrying two stone extra, somebody please shoot me!

New Dimension Professional Laying System

If you are interested in laying horses to lose on the exchanges, then the latest professional laying system show-cased at the SportsWorld Publishing site will be of particular interest.

Whitehall Racing have just released the New Dimension Lay System for sale to the public. It is a very selective system, producing around 20 bets per month. It does not require you to follow the market all afternoon, which is far more convenient compared to many systems. And, finally, it has proved incredibly successful - a staggering 97% strike rate so far this year!!

The New Dimension Lay system would appear to eliminate many of the problems associated with most methods to profit from opposing horses.

Included with the system package is a superb document "Laying - an Explanation" if you are new to the game. If you are often busy (or like me just plain lazy) Whitehall Racing offer their own telephone service to advise daily selections on a cheap rate line by 11:00am every morning. AND it's free for the first three months.

You can see much more detail on the SportsWorld web site

Jewelled Dagger pierces the bookies' hearts

A fine way to start a new week, with two bargain-priced winners from 5 back-to-win selections, and a healthy 7.5 points profit. I pinpointed three more winners, and a runner-up, but you will not see these on my results as they did not reach my suggested value prices and so they are 'no bets'. However, both Starcross Maid and Jewelled Dagger won at good prices.

My only lay bet of the day was Whitbarrow in the 6f handicap at Southwell. God bless this horse, because at 8 years of age and with 73 races now under his belt, he continues to surprise! Before today, he had recently racked up two wins in class 6 events, after a three year spell without a win. Today he was taking a step up in class, and shouldering another 10lbs courtesy of the handicapper since his last race. Yet those of you watching the race this afternoon, witnessed him going away from the field - they must be putting nitrous oxide in his feed! I managed to lay him at 3/1 and well below his SP but nonetheless he took 3 points profit from me.

All told, I managed to move the account forward to the tune of 4.5 points this afternoon.

Sunday racing summary and weekly results

A somewhat damp finish to a very profitable week, with a small loss to the account today. Not For Diamonds was a useful winner at Plumpton, but pretty much all the profit was wiped out by the subsequent three losers.

My only lay bet was Itsmyboy at Worcester. He has so far enjoyed a more than competent career over hurdles, with a class 2 handicap hurdle to his name. Today he was tackling fences for the first time, and at 6/5 I was prepared to lay bets he would not take to the more challenging obstacles. He performed well enough to win, and no real damage to the account done, with a loss of a fraction over a point.

A splendid week overall for my Win Bets, returning over 22 points profit. Something of an indifferent week on the other hand, for my Lay Bets, which made a slight loss.

Profit for the week: Win Bets 22pts, Lay Bets -0.5pts

He's got the Nawwow factor

Another very profitable day, to follow on from the success of yesterday. Just the one winner from my five back-to-win selections. Nawwow came home with authority at Nottingham, at a decent starting price of 5/1 and if you took full advantage of the morning prices available on the exchanges you could have secured a massive value bet at 11/1

I couldn't pinpoint much by way of low-risk value when opposing horses today, but I did single out King Of Argos, the favourite for the Victoria Cup heritage handicap at Ascot. His best winning form was in a class 4 event, and he has no winning form over 7f, so unproven over this trip and stepping up markedly in class I felt the task would be just beyond him. He finished two-thirds the way down the field, and the bet against him bagged me a bonus point to add to the 7 points from my win bets.

Stretton struts on

We were really cooking on gas today - betting in four races, I found the profit in each one! First came Rowe Park at Lingfield, winning at 3/1 with prices up to 5/1 available on the exchanges. In the Warwick International Handicap at Chester I backed two horses, and although Glenbuck was unplaced Dhaular Dhar did prevail - but then you can't back two winners in one race! My third successful win bet was Stretton in the last race at Chester. More than 16 points profit in total by taking advantage of higher exchange prices.

My lay bet was Scorpion in the Ormonde Stakes over the extended 1 mile 5 furlongs at Chester. Although he doubtless has the winning form at this level, as the 2005 winner of the St Leger, he still had question marks over his recent form, notably not winning since September 2005. Meanwhile he was lining up against several improving horses. As the even money favourite, I felt this was far too low a price and only reflected his classic victory of two seasons ago. In the event, he found one of the improving horses, namely Ask, too good on the day.

A very healthy haul of more than 17 points when it came time to pack up and go home.

Thursday racing summary

No change to the account today, as my profit gained by my lay bet was blown on Metaphoric in the Chester Vase. He ran a disappointing race, being scrubbed along from 3f out and never looked like being involved in the finish. More's the pity as you could of backed him at 7/1 on the exchanges this morning.

My lay bet was Thabaat in the class 2 handicap over an extended 7f at Chester. This colt's best form so far has been winning a class 5 maiden, so why he was the morning favourite for this class 2 race I couldn't imagine. He was never in contention and finished last.

Not so Fast Feet

A more positive day's results, with two successful bets from three. I recommended Fair Along for the Chester Cup this afternoon, and this morning you could have backed him at 10/1 on Betfair. He was eventually backed into favouritism, but found just one horse to get the better of him. A more favourable result came when Malinsa Blue overturned the odds-on favourite in the mile-and-a-half handicap at Beverley. Just over 3 points profit.

My sole lay bet was Fast Feet who lined up for the first race of the afternoon at Chester. To date his best form was a close runner-up in a class 5 maiden race, yet today he was contesting a class 2 stakes race and was the 5/2 favourite to win. He was only just beaten, but beaten he was, and I collected another point profit.

A welcome profit of just over 4 points in total.

Tuesday racing summary

I haven't posted for a few days so before I re-cap on today's racing I will just confirm the results from last week. The back-to-win bets returned a solid profit of 8 points, whilst the lay bets produced a small profit of just over a point.

Profit for the week: Win Bets 8 pts, Lay Bets 1 pt

Getting back to today's racing - I suggested four well-priced selections to win, but today they disappoined and I returned four well-priced losers.

My only lay bet was to be against Cedar Mountain in a maiden stakes at Southwell. This colt shaped well in his debut at Leicester, but today he was stepping up in distance, and racing for the first time on an all-weather surface, against plenty of opponents open to improvement. None of the runners had any solid form to point to, and this particular colt had several boxes to tick in terms of winning form, the trip, and the untried surface, yet he was still on offer at well below even money. He had to be opposed at that price, and I layed him for 3 points. I got it wrong today, but I would lay that sort of bet 1,000 times over and make a profit overall.

All told, a seven point loss to the account today.

Betting On Horse Racing : Sensible Money Management (part 5)

Everyone knows that gambling is a business of risk. Professional gamblers will successfully manage their risks and make a profit, whilst 98% of punters who consistently lose money, also consistently fail to manage risk effectively.

This is the concluding part to this series of articles, where I have explored the key reasons most punters lose money, in a vain attempt to make money through betting.

We have seen the importance of always getting a value price when you bet. If you fail to strike bets which offer a satisfactory return on your investment, then ultimately you will lose money.

We have learned why you should have a sensible approach to staking. Never put too much of your betting bank at risk in one bet, in an attempt to get rich quick.

I pressed home the dangers of chasing your losses. Experienced gamblers appreciate that you will more often than not lose more bets than you win. Losing is part of gambling – accept this fact and you will not be tempted to compound your losses by trying to re-coup them by deviating from your staking plan.

In the most recent article, we looked at discipline, and why it is critical to treat your betting like a proper business if you want to achieve business-like results.

In this final section, I want to conclude by further exploring the topic of risk management, and developing a profitable portfolio of betting strategies.

Ask any number of professional gamblers and the vast majority will tell you they do not rely solely on one betting strategy alone. They spread their risk by employing several methods, and constantly reviewing the performance of each method. In effect, this is much like an investor managing a portfolio of stocks, shares, and investments. This echoes back to a previous article where I likened betting for profit to running a business.

The disadvantage of relying on just one betting method or system or tipster, is that if the strategy is not currently returning a profit, then you have no income. It's the classic 'eggs in a basket' scenario!

If you look at the Stock Market, the value of individual shares goes up and down on a daily basis. Whereas, over time, the value of the market as a whole has historically risen.

So it makes sense to have a number of betting strategies running concurrently. If during one particular month Tipster A is losing money, then probably System B is returning a profit. Your aim should be to manage your portfolio such that you generate a net income every month.

Developing a portfolio raises a number of questions:

1) Which strategies should I employ?

2) How many betting systems/tipsters should I have in my portfolio?

3) When should I relegate a system from my portfolio?


Developing your betting portfolio

To answer the first question – the obvious response is to follow profitable systems. But this is much easier said than done. Where do you find profitable methods, systems, and tipsters?

It will take you time to develop a good portfolio, but a good place to start is with your own methods. If you can read form, and you understand the concept of value, then you can develop your own methods of making good selections.

Whilst you are developing your own methods, you can employ the skills of one or more tipsters, and/or buy some ready-made systems. Before rushing out to buy a copy of the Racing Post and looking in the classified advertisements for tipsters, I recommend you search on Google under ‘tipster review’ or ‘horse racing tipster review’ or ‘betting tipster review’. Adverts will always say their tipster or system is the best, and makes amazing profits. But this is your money you are investing, and you owe it to yourself to do some home-work.

Look for a forum or discussion board where tipsters and systems are reviewed objectively by customers or people who have actually used the service.

How big should your portfolio be?

This is a question only you can answer really. The more strategies you have, the more your risk is spread across a number of income streams. You could also potentially earn more money. However, the more methods you employ the harder your portfolio will be to manage, and the more of your time will be taken up.

You will need to strike a balance where you are comfortable with the time-input and the return from the portfolio.

A sensible portfolio may have five or six strategies, with another two under review at any one time.

Managing your portfolio

In a previous chapter I suggested ‘paper-trading’ a method for at least two months to test its profitability. This means you should follow a method or tipster or system for two months to see if theoretically you would have made a profit. Once you are happy with the performance of a particular method, you can proceed to award it a place in your portfolio, and start trading with actual cash.

If the strategy doesn’t make the grade, then ‘file’ it for future reference.

You will have heard the old saying “If it ain’t broke don’t try to fix it” so you should not be too hasty to discard a particular betting method if it returns a losing month.

However, there is also the teaching “Don’t throw good money after bad”. If a system has earned a place in your portfolio by performing well for two months, then it makes sense to allow it two poor months before even considering it should be relegated. That said, if you are not happy with a system and it is losing money, then get rid of it!

Summary

Develop a portfolio of betting strategies to spread your risk and maintain a regular net income. Use a combination of your own personal methods, purchased systems, and subscription tipsters. Constantly review your profitability to highlight any under-performing strategies.


About the author: Max Redd has been making a living betting on horse racing for over 10 years. He runs the Redd Racing betting advisory service which offers members a FREE trial and a 60-day money-back profit guarantee. Find out more at http://www.reddracing.co.uk

Friday racing summary

Two back to win bets today, and alas again no success. Shevchenko made a bold bid to overturn the odds-on favourite at Lingfield, and was pushed clear 2 furlongs out. But Yaroslav justified the market support, and won by less than a length.

My proposed lay bet was Windjammer in the class 5 sprint handicap at Musselburgh. He was making a quick return to the track, after winning at class 6 level, and avoiding a 6lb penalty. Nonetheless, today he was stepping up in class and to win would still require a career-best performance. I thought he was an improving sort, and easily the most likely to win, but the market suggested he would be sent off a very short price odds-on. I was prepared to gamble the horse having a slightly off day, and if he could be layed below 4/7 I would take the bet. His price did not fall that low, and it was a 'no bet'. Insisting on this price was in my favour today, as he did indeed win, but the result underpins the importance of remaining steadfast in search of value.

Thursday racing summary

No success to report on today I'm afraid. I had four win bets; none returned successful, and so 4 points lost from the account. There were no lay bets.

Last Sovereign sees me quids in

A much better day enjoyed today than of late, as both accounts returned a welcome profit. From my three win bets, two returned to the Winner's Enclosure and netted a 6 point profit. Cee Bargara was available to back on the exchanges at 10/3 before going off at 9/4 and even better value was Rare Coincidence at 7/2 on Betfair.

I suggested we oppose three of the warmest favourites of the day, and all three were successfully overturned. The shortest of these was Last Sovereign at 4/7 odds on, who was running at Kempton this evening. Laying odds-on favourites in handicaps is almost a hobby of mine. Why punters will readily accept such a ridiculously short price on a horse in a race where every runner is supposed (theoretically at least) to have an equal chance at the weights, is completely beyond me. Today, Last Sovereign was also stepping up slightly in trip, and also carrying 6lb more than for his last win. Sure, you could argue he would take these challenges in his stride - but a price of 4/7 represents a 64% chance of winning, when each horse in this 14 runner race should theoretically have a much lower 7% chance. Indeed, today he found a horse that would beat him, and we collected.

Over 9 points profit to add to the account overall once evening racing had finished.

Enticing run from the favourite

Two points lost on the account today, as both my win bets were unsuccessful.

My only lay bet proposed today was the filly Enticing, who was running in the Listed race over 5f at Bath. My reading of previous form put the race between 3 horses, with at least one other with a 'half chance'. I put a price of 5/2 on Enticing, and suggested if we could lay better than 9/4 she would be worth opposing. The fact that this was also her first run of the season, and she may have been in need of the run, gave me added confidence she may get beaten. Fortunately for me, her price did not fall to 9/4 on the exchanges, as I had not anticipated such a scintillating performance. This filly will certainly be one to follow, as she turned in a course record and won going away.

Price discipline paid off again for me, but still I'm not at all happy with my current form.

How to GUARANTEE yourself a betting profit every time

You may well have heard about sports arbitrage but never been quite sure exactly what it’s all about. You’ve heard that arbitrage means you can strike a series of bets and whatever the result of an event you will make a profit. Guaranteed profit, whatever happens!

Whenever you discover an ‘arb’ opportunity -- it’s like uncovering a little nugget of gold. You manage to find an event priced up by a number of different bookmakers, perhaps it’s a football match, such that if you take various prices you will profit no-matter who wins, or even if it’s a draw.

I have been interested in risk-free arbitrage betting (arbs) for a number of years. However, I found I never really made much money because the trouble is it can be quite time-consuming to unearth all the ‘arbing’ opportunities. Eventually, I realised the best way to make money from arbs is to join a service that will find the arbs for you.

I have joined a number of arb services in the past but they have all been very expensive and the arbs they sent were either low yielding or the odds had already changed by the time I received the arbs.

Around 9 months ago a friend recommended a service to me called UCantLose, and they are totally different!! Their arbs are generally of the highest quality, and very profitable. You see, they limit the number of members they accept, so when they send out an arb there are not thousands of people rushing to get money on, meaning that the odds stay stable for longer -- this is very important!!

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They guarantee to send at least 50 arbs per month but they always send much more than that (I usually receive between 50 and 100). They promise to refund that month’s membership fee should they fail to send out 50 arbs in a month. You also get the option to receive arbs via email or a text message sent direct to your mobile phone.

UCantLose is much more than just an arb service. I call them my little ‘gambling gophers’ because they also send daily hints and tips to help you make more profit from your every day gambling. They also find the best gambling deals on the internet (such as free bets, joining bonuses, free trials etc) and send them direct to my inbox -- very handy!!

I wanted to let you know about UCantLose today because I know they are currently accepting new members. If the idea of sports arbitrage appeals to you, then at the very least you should pay a visit to their web site to find out more. Places will be strictly limited so you need to act fast to ensure you do not miss out.

Discover more about arbitrage betting at UCantLose