Today we have a guest post from Malcolm Pett of http://greyhorsebot.com
As you are probably well aware making money from gambling is about 2 things…
Strike rate and Average winning odds.
As strike rate goes up average winning odds can come down.
You tend to end up with two choices.
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Low strike rate but high odds winners. This probably represents the real value end of the scale where you are picking runners that most people think have very little chance of winning.
Most of the time they are correct but every so often one comes in…
And normally at a very good price.
The strike rate of these systems is generally between 10 and 20%.
If you run a system like this then it’s probably better to use Betfair because the odds on outsiders can often be far better than you will find at the bookies.
Look out for long losing runs because these normally spell disaster for the un-aware punter.
Then we have the high strike rate but low odds end of the spectrum.
Here you are likely to be on the first or second favourite and value is going to be a real issue.
Strike rate should be in the high 30’s but even better if you can get to 40% or more.
Keeping an eye on your average winning odds is going to be critical and you will probably have to watch the exchanges and the bookies or even use a BOG bookie to get the best prices.
Your job here will probably be to match or beat SP as often as you can.
The perfect scenario would be somewhere in between the two but it is unlikely you will find one system that will have a reasonable strike rate with value bets.
Probably the best way to achieve this would be to use “Nano” systems.
On their own these types of systems have very few selections but tend to have strike rates of 20% or more.
Combining a number of them together means you have a better chance of getting a reasonable strike rate and achieving value.
It does mean you have more systems to follow but the long term profit could be worth the effort.
Over at the Grey Horse Bot website we test all these ideas.
At the moment we have a couple of tests looking to achieve strike rates of 40% and 50%.
As already discussed you will find the prices on the winners can be quite short but it can be surprising when you get the odd higher priced winner.
We are also running long term tests on system that have a much lower strike rate.
And you can see very clearly from the results that these types of systems have long losing runs and often only get into profit because of big priced winning selections.
When you decide on what type of system(s) to follow you have to ask yourself can you take the losing runs or are you prepared to look for the best price.
Otherwise a bunch of “Nano” systems may be the best thing for you.
Thank you as always for reading I really appreciate it.
Malcom Pett is the creator of the Grey Horse Bot http://greyhorsebot.com
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