Thursday horse racing summary

I moved the account forward by more than 6 points today, thanks to a successful lay bet. I proposed three selections to win this morning, but it was two horses that reached my suggested value prices to be final bets. However, these both lost.

Big Bound was running his second race - a maiden at Nottingham. He was short priced due to a close finishing second on his debut. Expected to come on for the run, he was a red hot favourite to win today, especially with the booking of Frankie Dettori. But although he was the most likely to win, the price of 4/5 odds-on was still way too short compared with his real chance of winning. This is how bookmakers make their profits over time. Not all red hot favourites win, and by offering such ridiculously skinny prices, when they do win the bookmakers have a minimal pay out. The value was to lay the horse to lose, and that's what I did, and for a stake of 7 points. When the colt lost at an odds-on price of 4/5 my return was a profit of 8.75 points.

Profit so far this month: 110 points
.