If you don't know about Clive Keeling and his What Really Wins Money newsletter I suggest you check him out.
One of the things that Clive goes on (and on and on) about is what he calls Each Way Value Alternatives or EVA's.
I eluded to this with one of our selections the other day and have been waiting for an opportunity to elaborate on the each way value alternative.
Basically a common occurrence in horse racing is the race with only 2 or 3 real contenders.
Get All of John's Selections
When you Trial his Victor Value service
Just £7 for 14 Days
These races usually involve an odds on favourite and one or two other contenders along with a lot of no hopers.
Statistically the other contenders have a great chance of placing. And these are the horses we want to bet.
So how do we find these each way efficient races.
Ideally we want 8 or 9 to run, so look first at races of this size. With 8 runners each way bets get paid out on 3 places.
That means we have a better chance of getting paid out and there is not too much competition for those places.
Watch out for non runners though because when the number drops down to 7 we only get paid on two places.
Let's look at an example.
This is the Racing Post betting forecast for the 4.50 at Wolverhampton.
There are 9 runners and so if you bet each way with the bookmaker you will get 1/5 odds if your horse finishes 2nd or 3rd on the place part of our bet.
If the forecast odds are a fair representation of the horses chances then Fortunelini should stand a good chance of finishing in the 1st 3.
And if it starts at 13/2 (6.5 to 1) then we get odds of 1.3 to 1, of course we lose the win part of the bet if the horse places. But we are getting 0.3 to one if it places with a big bonus if it wins.
And if the forecast is accurate then our horse is very likely to place.
So that's the EVA method a word of warning though, bookmakers don't like punters who regularly bet these EVA's!!
UPDATE (09:30): Fortunelini is now the 12/1 3rd favourite and 9 still run, the value has improved considerably!