Horse Racing Betting Question

Hi rebel.

You don’t explain how you made a profit. If you did the offers the standard way then you would back and lay for a Qualifying Loss. In theory you would be making a small (~£1) loss on each race, gambling on getting a 2nd place (by a length?).

How did you make the profit, were you underlaying the horses? Did you find arbs on the horses?

Can you break down where your profit came from?

Have you actually won £74 at the bookies or are you including your stakes there – is that returns or profit?

£36 profit in one day wouldn’t indicate a sustainable long term strategy. It’s very easy to make money gambling day by day – unless you have an edge somewhere though, the days you lose you will lose more and more often but still very likely to have a lot of winning days.

This makes no sense.

Let’s take Race 2 – you say that you were staking £5, so given that you said you had a return of £30 it must have been odds of 5/1 (6.0) so your profit was £25?

You also say that your liability for Race 2 was £14.49, so if we assume that you got lay odds of 6.0 (which I suspect you didn’t given your comment above) this means that you only layed a stake of around £2.90 at the exchange? If so this is called “underlaying” which means you lay less then the required amount for an optimally balanced match bet.

By (most likely unintentionally) underlaying in this manner your net position on Race 2 would have been +£10.50 if the horse won or -£2.16 if the horse lost. The horse won, so you did well. You then did well on another 2 races, on horses that appear to have been backed at even higher odds than 5/1 (6.0) based on the return figures you have quoted above and again, underlayed them.

The chance of 3 horses at 5/1+ winning is high, so it seems that you were just plain lucky that your underlaying tactic worked, so unfortunately this is not profitable long term. Also, consider that your liability on these horses NOT winning was nearly half your stake, so take this up a level with £25 stakes and you are staring at significant losses when the horses stop winning.

The real question is were you intentionally underlaying these bets? Which calculator were you using, as the one on this site has no underlay options.

On Race 2 yes, looks like you benefited from the BOG offer which is usually an unplanned for little bonus.

In Race 7 you said your return was £36.25 (inc stake), so for £10 (5+5) stake the profit was £26.25. And your liability you said was £28.51. So that is a loss there on that race.