Thinking of starting horse betting … tips?
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I read the newbie guide on MSE on horses and seems there are alot more moving parts with this game.
I am seeing loads of arbs for horses though vs football which is what is making me interested.
Is it not like football in that once your bet is backed and layed you can relax? due to non runners and stuff like that voiding bets? I wouldn’t be fond of trying if that is the case because I like to place my bets and get back to my main job. Don’t want to constantly be having to check nothing has gone awry. Is it like that with the horseys or not so much?
+0September 9, 2017 at 5:26 pm
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New to matched betting?
My Matched Betting Academy is the best place to get started. Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
Hey matey its actually probably more that you can get extra bonuses on horse betting. Whereby on football a arb is a arb, on horses like you say u could benefit from:
1) Best odds guaranteed if your horse wins and starts at a price higher than u bet at (if said bookie offers BOG)
2) If there are non runners both the bookie will pay out less money and the exchange will reduce your liability. But usually it works in your favour. So if odds are changed and your horse wins, just work out the difference and add any profit to your logAnd I guess the negatives could be:
1) The horse you found the arb on is a non runner. Both bets are voided, but you have wasted your time
2) Odds can change a lot quicker, more one to just be aware of and get used to+0As Matchedem says, the exchange will apply a reduction factor which is usually on par with what the bookie will reduce your bet by, sometimes better which can yield a nice bonus when the selection wins.
If you are going to do the horses, one thing you need to watch for is non runners in 8 or 16 runner races when you go EW as the place terms change at the bookie but stay the same at the exchange, meaning you could lose both bets if the horse hits 3rd/4th…
+0Thanks for replies.
Losing both would be fine though wouldnt it as it would cancel one another out returning you to nothing. But aren’t there cases where one bet gets cancelled and the other doesnt? that is where serious losses would occur. Or maybe I didnt understand the terminology properly in the MSE thread.
So as to my question on having to constantly check…with possible non runners does that mean you always need to be checking till the race starts if any aren’t gonna run?
Apart from that can you still feel ok once your bet is placed that there aren’t going to be any untoward changes and you can just leave it and come back later? Oh I guess one advantage, which the thread said, is the races are over quickly so there is no waiting hours on end like with football so waiting a few mins would not be such an issue?
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There shouldnt be any cases where one bet is cancelled and not the other. U only need to be checking i guess if you are each way arbing but id say dont do this to start with until you are more confident anyway
Yeh apart from that u can leave it.
+0Yes just do the win part first. Look for boosts that give arbs, the rare money back 2nd offers (without extra criteria) and generally just get used to getting v close matches
+0Funny how me and matchedem both have juniors in our usernames now.
I’d like to see a ‘littlechris’ and a ‘mistblog’ next…. or we haven’t had a tony for a while
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Are you talking about ante-post bets? That’s betting on a race some time in the future (ie not the same day, specifically before “final declarations”) in which you don’t get your money back at the bookie if your horse is a non-runner, and the exchange will just void so you won’t win the lay.
in some cases this can work in your favour, some bookies do “non-runner, no bet” at big meetings, but its hardly worth actively seeking them out because the back and lay odds will be so far apart that far out from the race just on the off chance that it won’t run would be pointless and expensive.
+0@ betman4684, I have read the material you mentioned on the MSE forums, it was a long time ago however so I might be wrong in what I am about to write.
From memory I think what they were warning you about was the following situation. Lets say you do an E/W bet at a bookie that is paying out on the first three places (lets just ignore for the time being why you have done this bet).
Lets also assume you have placed two lay bets at the exchange one to cover the win part of the bookie bet and the other lay to cover the place part of the bookie bet.
Now lets say there are one or more non runners and the bookies reduce how many horses they will pay out on the place part of your bet from 3 down to two.
If your horse now comes in third you are going to lose money, depending on the size of your bet and the odds, we could be talking about quite a lot of money. This is why MSE caution people to fully understand what they are getting into when you start betting on horses.
Although they might not realise it, many of the guys posting on this forum have become experts at horse race betting. By this I don’t mean they are brilliant form readers, what I mean is they have a good idea what’s likely to happen when different things occur such as non runners.
I have read horror stories about people losing their entire betting bank by not fully understanding what I have just wrote above. If I was you I would probably read that information again on the MSE forum, there are not many people who would be able to take it all in after just one reading, I certainly couldn’t.
+0@Betman4684, I’ll give an example.
You back a horse EW at 10.0 in an 8 runner race, the place terms being top 3.
You lay off the win and place on the exchange, place lay being the top 3 places.
A non runner is declared…
…now you have a back bet at the bookie to place, but only the top 2 count.
…your lay on the exchange is still for the top 3.
…if the horse finishes 3rd, you lose your back bet and lay bet= lose both bets.
If you are just win betting, there is no need to keep checking the markets.
If you do EW on 8/16 runner races, make sure the bets are close to the off and ideally try and avoid the flat where there is a chance a horse won’t go into the stalls.
+0Thanks for the info guys. Ok so each way is the one to be careful of from what you are all saying which will cause the big losses.
Well I don’t understand each way betting anyway so won’t touch it :). Just win betting (which show in the results on automatcher) will be the same as footy betting then? just that I have to watch for quick odds changes?
+0@ betman4684 its very difficult to advise someone what to do when it comes to the horses, it is for me anyway. The problem is that there are no hard and fast rules and different posters will give you conflicting advice. Horse race betting can be very nuanced, and that can be extremely difficult to explain to people on a forum.
I can understand your reluctance not to get look at E/W betting, but there are many guys on this forum that have made a lot of money E/W arbing. Some people think (I don’t know) that your accounts last longer if you are E/W arbing rather than just straight arbs on the win.
I would imagine (again I don’t know for sure) but if you are doing straight forward arbs that the software on Odds Monkey are finding for you (and probably many other people at the same time). You will be easily identified and have your account either closed or you will be restricted to pennies in a fairly short period of time (perhaps others reading this may well disagree I don’t know as I don’t use Odds Monkey for arbs).
If you have plenty of ungubbed accounts this is what I would do. I would go for the various relatively straight forward horse racing offers that many of the bookies (Bet365, Betfair etc.) and learn as you go along a bit about the horse racing markets. Once you have built up some experience and confidence in these markets, take a look at E/W arbing. Use some gubbed accounts (if you don’t have any yet you will get them once you start doing the horses), start off with really small stakes. Don’t worry about making lots of money to start with, instead learn all you can about E/W arbing.
There is a great thread all about it on this site, probably the best free resource that covers it anywhere on line. There are several experts on this site who will help you once you get into it, but like I say be in no rush. Do the normal horse racing offers first and get used to how quickly the odds move. Things happen much quicker than on the football markets, and if that’s what your used to, it will take a while for you to adjust to this speed increase.
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