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horse laying challenge: £100 to £1k

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By:
LordBobbbin
When: 01 Sep 11 02:37
Well some people might say 'But I've spent eight months researching data and gaining lots of insights into horse racing. If I start on trading stock markets or the currencies, I'd be starting from scratch!' 

In your case, though, you still seem to be asking the most basic and irrelevant questions, and don't seem to have got past the 'how much is everyone else making?' stage.  Since you've been spending the past eight months learning very little rather than doing lots of research, and since much of what you seem to know could actually be picked up in a month or less, you're not exactly chucking away eight months worth of knowledge. Give it a few weeks, and you'll be as much of an expert on the financial markets (if not more!) as you are on the horses.

None of this is meant to cause offense, by the way. I'm just calling it as I see it.
By:
aueng
When: 01 Sep 11 08:16
lord bobbin definitely has patience!
By:
GoldCoastinvestor
When: 01 Sep 11 10:48
Paulme here is a tip a very straight forward tip but you got to keep meticulous records. But it sounds like something that you might be able to do??????????????


Take the tipsters in the papers get maybe 6-8, make a note of every tip they offer then check the results and the starting price. You can paper trade this for a few months to see who is a krap tipper.

You will find one who tips maybe 1 winner at the meeting and it'll be short priced, if you document them over say 3 months you'll find him.

There used to be a bloke in Oz, Ken callender big racing personallity and tipster used to write newspaper colums, he could not tip the winner of a race if there were only 2 horses in it and he had 2 selections at it. He seriouly wa slucky to tip 1 winner a week, we actually theorised that he was giving dudd tips to inflate the prices of the horses he really wanted to back, the paper tipsters influence huge mug money onto their selection.

He was fkn useless.

This is the easiest way for you to find lays that are well under their true odds, see they will tip them and mugs on the street will pour cash into them thinking that, he's a newspaper tipster he must have inside info......................
By:
paulme
When: 01 Sep 11 22:46
thanks bobbin. fair comments
By:
paulme
When: 02 Sep 11 13:20
ok i have £3.14 in this account today. must be cafreful with my bets (bet) today Cry
By:
LordBobbbin
When: 02 Sep 11 14:18
£3.14???  What happened??
By:
LordBobbbin
When: 02 Sep 11 14:28
You've made Freddie sad now, Paul!
By:
aueng
When: 02 Sep 11 14:36
3.14 paulo what happened man?
By:
paulme
When: 02 Sep 11 16:09
lost the £3.14 and then deposited another £100, lost that and just blown another £40

need to give up Plain
By:
LordBobbbin
When: 02 Sep 11 16:11
Well what's your current plan? What makes you bet on a horse?
By:
paulme
When: 02 Sep 11 16:15
think im gonna give up bobbin.

i try everything.

back to place.

place lay.

back faves.

lay faves.

dutch top 4 faves.

martingale.

just cant win.

just cant win.

really need help Cry
By:
paulme
When: 02 Sep 11 16:23
im giving up i reckon

there is literally no way to make a daily profit. no way at all
By:
LordBobbbin
When: 02 Sep 11 16:28
But those aren't systems, so you haven't really tried much at all.    As quite a few here have said many times, you can't just back a fave or lay a fave (or whatever).  That's no reason to bet with or against a horse. You've got to have a reason for thinking the fave will, for example, lose. 

Is he ranked outside the top two on speed figures?
Is he coming from a poor post position?
Has he failed several times at the current class?
Will he struggle with the distance?
Has he fared poorly on today's track or track surface?
Will the early pace be a problem for him (whether too fast or too slow)?

Those are the kinds of things you need to be looking at. Simply backing or laying a horse because he's a fave will get you absolutely nowhere unless you have a reason for thinking he's definitely the best horse in the race (backing) or is poor value at the price (laying).

Go and speak to Arconel on his thread. I may not agree with the long-priced lays aspect, but he does seem to have some sort of system worked out (particularly with regard to his backs). He just seems to be starting out, so maybe he'll be happy to discuss a few of his experiences with you?
By:
coolhand
When: 02 Sep 11 16:29
huff and puff
440
haydock
By:
LordBobbbin
When: 02 Sep 11 16:29
Acornel, sorry, not Arconel...
By:
paulme
When: 02 Sep 11 16:30
i will. where do you get these speed figures bobbin?
By:
aueng
When: 02 Sep 11 16:32
Cry horses again? this is turning out quite dangerous paul.
By:
paulme
When: 02 Sep 11 16:37
yep im stopping mate.

this is seriously damaging
By:
LordBobbbin
When: 02 Sep 11 16:38
Freddie, he's had eight months, so it's about time he went beyond the incredibly basic 'Lay a fave or back a fave' system.  It's at least time he got past thinking that was all there was to horse racing.

Within a day of starting with horse racing, I had a system worked out that involved backing the 2nd, 3rd, 4th and 5th faves when the fave was more than 4/1 and I could get all four horses for a decent price - that actually made a profit as well!       Three months later, I'd written a program that ranked all horses in terms of speed figures, and that broke down the sectional times into pace figures. I was doing US horse racing for that latter system, where you do get more information.   Nonetheless, you can do all sorts of things with UK data. 

I'm generally a slow starter at things, so I would expect Paul to have at least the rudiments of a basic system.  And if not, it's about time he started learning!
By:
LordBobbbin
When: 02 Sep 11 16:39
Okay Paul. Probably a wise idea under the circumstances.
By:
LordBobbbin
When: 02 Sep 11 16:42
Well yes, there is that...  And his confusion over Birdy's DIY comment on the football thread didn't show a great deal of intellect either. Nonetheless, he's been to university, so we have to assume he isn't a total idiot.   Actually, forget the university thing - that doesn't mean a bean!
By:
paulme
When: 02 Sep 11 16:43
today:

Horse Racing: -£141.93  Total P&L:  -£141.93

Horse Racing    Showing 1 - 12 of 12 markets

Market    Start time    Settled date    Profit/loss (£)

Horse Racing / Chep 2nd Sep : 7f Sell Stks
02-Sep-11 16:00     02-Sep-11 16:02     -91.88

Horse Racing / Brig 2nd Sep : 7f Mdn Stks
02-Sep-11 15:50     02-Sep-11 15:54     -29.64

Horse Racing / Hayd 2nd Sep : To Be Placed
02-Sep-11 15:40     02-Sep-11 15:46     54.38

Horse Racing / Chep 2nd Sep : To Be Placed
02-Sep-11 15:30     02-Sep-11 15:34     -30.12

Horse Racing / Brig 2nd Sep : To Be Placed
02-Sep-11 15:20     02-Sep-11 15:29     -19.44

Horse Racing / Hayd 2nd Sep : To Be Placed
02-Sep-11 15:10     02-Sep-11 15:15     -10.00

Horse Racing / Chep 2nd Sep : To Be Placed
02-Sep-11 15:00     02-Sep-11 15:06     -10.87

Horse Racing / Brig 2nd Sep : 1m2f Hcap
02-Sep-11 14:50     02-Sep-11 14:55     3.82

Horse Racing / Hayd 2nd Sep : 6f Mdn Stks
02-Sep-11 14:40     02-Sep-11 14:48     -6.00

Horse Racing / Brig 2nd Sep : 1m4f Hcap
02-Sep-11 14:20     02-Sep-11 14:25     -10.00

Horse Racing / Hayd 2nd Sep : 5f Hcap
02-Sep-11 14:10     02-Sep-11 14:16     3.24

Horse Racing / Hayd 2nd Sep : 5f Hcap
02-Sep-11 13:40     02-Sep-11 13:47     4.58

oh and that Maunsells Duke to place killer bet the other week:

Horse Racing > Naas 1st Aug : To Be Placed
Showing 1 - 1 of 1 Selections

Selection           Odds    Stake(£)    Bid type        Profit/loss(£)

Maunsells Duke    *    1.53    854.99              Back                   -854.99
By:
paulme
When: 02 Sep 11 16:44
who says i've been to uni?

explain birdie DIY comment then...
By:
LordBobbbin
When: 02 Sep 11 16:45
Well you clearly need some sort of block on how much you can deposit a day.  Quite why you started off with small sums and started risking larger and larger amounts the more you lost is, erm, problematic..
By:
coolhand
When: 02 Sep 11 16:46
huff and puff 2nd

paulme,
what kind of race is a selling race?
By:
paulme
When: 02 Sep 11 16:47
no idea coolhand
By:
paulme
When: 02 Sep 11 16:48
yes and no freddie. ok back to horse talk...
By:
LordBobbbin
When: 02 Sep 11 16:51
Paul, in Wednesdays posts, Birdie made several references to the DIY he had just started doing on his house (paint stripping or something) and was complaining about what hard work it was.  The next day he simply said something like (I can't remember the exact words!):

Horse Racing Happy

DIY Sad

I suspect a moderately intelligent person would take that as meaning that the horse racing was going well, but the DIY was still proving annoying..   And had you flicked back a page instead of jumping on top of him and treating him as though he was making no sense whatsoever, you could have worked that out for yourself!
By:
paulme
When: 02 Sep 11 16:54
ok it was light hearted at first until he reduced it to nastiness. anyway that beef is between me and him. here it is:

+£1211

Tennis

DIY


how anyone can win £1.2k in one day betting on tennis is beyond belief. it really is. so his lack of P+L alerted me. look what happened to undern.
By:
paulme
When: 02 Sep 11 16:55
i once lost 2k on one tennis match
By:
LordBobbbin
When: 02 Sep 11 16:57
£1211??  During the first week of a tennis grandslam?  I suspect there're plenty of people on Betfair making many times more than that in a day!  (Not me sadly!  But there are plenty. Have you seen how much exchanges hands in one match alone?)
By:
paulme
When: 02 Sep 11 16:58
well you could slam 2k on a 1.5 odds yes. have done this but in the end gonna cost you your house surely?
By:
LordBobbbin
When: 02 Sep 11 16:58
Now, personally I don't understand how Paul was able to lose £2K on one match.  Where on earth did you get 2K from Paul???
By:
paulme
When: 02 Sep 11 16:59
well if they post their bets then fine. otherwise more damaging than helpful to anyone new coming on here i'd say
By:
LordBobbbin
When: 02 Sep 11 16:59
Or Paul, you could actually know something about the tennis players and place your money when they're value???   Is it so hard to believe that some people could show good judgment while betting on tennis players?
By:
paulme
When: 02 Sep 11 16:59
why would i not have 2k to slam on
By:
paulme
When: 02 Sep 11 17:01
yeah hit and miss i imagine with no one making overall growing profit.

why do you doubt i had 2k?
By:
LordBobbbin
When: 02 Sep 11 17:01
Why would you??? 2K isn't a small amount of money to put down on a single bet.  To many normal people, £100 or £200 would be a decent amount to place.   But £2K?    Pros place that amount without a second's thought, sure.  But, erm, you're no pro...
By:
catflmasppo
When: 02 Sep 11 17:02
It's hard to believe you have any money at all, paulme
By:
LordBobbbin
When: 02 Sep 11 17:03
Paul, if you really believe that nobody can make money long-term by using good judgment, why are you betting at all????
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