Pricewise and trading
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A short time back, I started backing the pricewise selections from the Racing Post early in the morning and laying them at the exchanges for a small profit. I only used gubbed accounts because I didn’t want too loose my healthy ones.
I made a bit of money doing this, but very quickly got restricted, however I am wondering if there is any profit to be made trading these selections first thing in the morning on the exchanges. I don’t know much about trading so if anyone has tried trading the pricewise selections it would be good to hear how you got on.
I have a couple of questions.
1. Is it worth doing, and what are the potential pitfalls.
2. How exactly do you go about trading these selections.
+0July 28, 2016 at 10:22 am
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Standard boost times:
Boost Times:
Hills Online = 8:30 and Instore = 9:00am – 9:15am
Fred Online & Instore = 9.00am – 9.15am and Fred’s Pushes 10.30 and 12
Lads Online & Instore = 9:00am – 9:15am
Coral Online & Instore = 8:30am
365 Online 8:30
Sky online 8.30
Boyles 8.30
188bet 9am
Betfair 8.30
Betway 8.30Sorry, a bit late for today, but maybe useful for another time!
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Sky hadn’t boosted anything today. That’s why I asked.
Thanks numbers.
+0@Foggy, somewhere on the Racing Post web site (cant remember exactly where but probably just use their search function for Pricewise) they have a list of all the bookies that honour their prices and the times on line they do so. What I have found however is that this is not always the case.
+0Just checked the exchange prices and things have hardly moved since I looked last night. Doesn’t seem to be any way to make money out of this just by using the exchanges. Possibly the only way would be to get to know the selections prior to them being made public, this is of course impossible unless you are very well connected.
If any of you have very long memories, you might remember a massive scandal with the Daily Mirror many years ago. There were two or three share tipping guys who would tip very cheap shares. Once the tips appeared in the paper then the share prices of the companies selected would rocket.
What people didn’t realise was that the guys doing the tipping were buying lots of these shares just before they tipped them, then selling them on when the price went up. It’s know as pump and dump.
Now if you had prior knowledge of the pricewise selections you could do something similar, you would lay first then buy later, ensuring a profit.
+0I’ve been backing pricewise horses the last few days, and found that a fair portion (I’m guessing 75%)of them come in quite significantly by the start of the race, often only in the last 15 minutes.
As it’s a Saturday, the process seems to be a bit quicker actually e.g. nuno tristan is now trading at 14, from a pricewise of 21, so a very healthy profit. Others aren’t doing so well (e.g. barnet fair at 16.5 from a pricewise of 17), but nothing catastrophic.
Still, it’s a bit of an art rather than science I think, and definitely not good for the health of your accounts 🙂
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Where are you backing numbers? I wanted to get on Nuno Tristan @ 21.0 but won’t risk my Bet365 account. I tried sky but they hadn’t boosted him.
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How about this people… take some of that matchedbetting profits if you’ve been gubbed everyone and just follow Pricewise as a tipster.
You’d make more and wouldn’t have to bother with laying off and worrying about prices and odds.+0Dan87 if you are gubbed by a bookie, and start doing the Pricewise selections at the odds Pricewise recommend they you will get restricted to tiny amounts within a few days, at least that’s what happened when I tried it.
Looking at yesterdays selections, it would have been possible to make some money just on the exchanges by laying very early (even the night before) and covering this just before the off. This is not without a lot of risk though, and its not something I think I would feel comfortable doing.
+0Just read over that last post and I should have said backing early and laying just before the off (its Sunday morning so that’s my excuse).
There was one horse (cant remember which one now) but it came in from about 20/1 to 8/1 with the bookies, although it didn’t come in that much on the exchanges, but I think you would have still made some good money on it.
+0Lost money on barnet fair yesterday. Layed at the pricewise boost price of 17.0 and waited for the exchange to drop. It went off at 25.0!!!!!
+0Just checked and I think the horse was Nuno Tristan, I was watching the Channel 4 racing and this horse was mentioned several times and its price kept coming down as more and more people kept putting money on it. However it wasn’t coming down much on the exchanges.
This got me wondering what exactly was going on. I used to think that the exchanges reflect the most accurate probabilities for a horse, but I am not so sure about this.
I have read that the vast majority of the money placed on the exchanges is traders money, and they are just looking for price movement, and that fairly often the odds do not represent the true chances of the horse winning.
So in the case of Nuno Tristan did the price come down because of like a heard mentality, people could see lots of money coming in for him and they just followed the heard. Or did the connections know his chances were much better than the 20/1 he started out at and the money they put on brought the price down.
The exchanges however were still being driven by the traders and were not concerned with what was happening at the bookies.
A couple of questions to you guys that know a lot more about horse racing than I do.
1. How often is there such a difference between the odds for a horse between the bookies and the exchanges (I think Nuno ended up going off as the fav.)?
2. Is this just one of those things or is it a betting opportunity, ie. when this kind of thing happens (a horse comes in from nowhere to end up as the favorite at the bookies) is it worth putting a few quid on it at the exchange if the odds there are much greater than the odds at the bookies?
+0Interesting post, I’ve recently looked into trading and have been dabbling myself with 50-100 stake trades and i find that Pricewise seems like a bit of a gamble.
Unless you know the entire field, how they run, what grounds best suits and so on, you can’t have a good estimate on which way the market will shift,Exchanges are manipulated it’s no secret, true traders put their money anywhere to make a profit, even bookmakers are known to use the exchange with massive stakes that’s why you can’t take a price before you do your homework
+0Your absolutely right betbet, I was hoping that as more punters read the RP during the day and put money on the Pricewise tips that the odds would come down, but that isn’t always the case. I think someone posted on here that that does happen quite a lot, I am sure he said 75% of the time, but I don’t really think I could make money out of this just by trading the tips on the exchanges.
As you say, if you know a lot about form (and I do not), then perhaps it can be done. How are you finding trading on the exchanges, I’ve watched a few videos on it, but I imagine there is more money to be made selling the software and services and teaching people to trade than there actually is from doing the trading, and a lot less risk and stress too I would imagine.
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