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Favourite Average Price Rise

Today we have our regular weekly column from Malcolm Pett of GreyHorseBot.com
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In the last couple or articles we have been looking at the results from an interactive test we have been doing over at the Grey Horse Bot website.

Part of this test is also to discover if it is better to be on all the selections or to stop at the first winner of the day.

I picked 220 or above as my rating figure (see later why this may still be to low).

It hasn’t been the best of weeks for this number and it was only because of a 6.3 winner a couple of days ago that we are still showing any profit for this month.

This is a bit of a shame as it was a lot more positive last week…

…But that’s racing for you.

I am a statistical type of person so I don’t like to blame the weather.

And I do know this…

Favourites average prices tend to drop slightly in the winter.

I am not sure why but it could be that there are less races so they are more heavily backed than they normally would be.

But a quick check on the averages over the last couple of years shows that from the height in the summer of 3.5 (sometimes higher) in the winter this can drop to around 3.1.

And although the strike rate of this particular system has dropped off slightly…

…The amount of favourites winning is slightly better than the norm this month.

Which again, strangely, seems to happen around the winter months.

But back to the system test…

I am still not convinced that SAW is the best way to go but it is going to take more testing to actually make that decision.

If you crank the ratings figure up to 240 then things look a little better for all selections and it may be my choice of 220 was still a little low.

This will probably be my last report about this test for a few weeks.

Unless something amazing happens!

You can see the results from this test and get the daily selections here.

Thanks
Malcolm
The Grey Horse Bot

GreyHorseBot.com

Today's Selection

2:00 Lingfield Ershaad – win bet 5/6 Bet Victor

Nico de Boinville

Mr Nico de Boinville!

There's a lot of interesting articles online about Nico de Boinville, how he came from a privileged background, about the alternate careers he could have had, acting, city banker etc.

But none of that is of much interest to us.

What is of interest though is that Nico de Boinville makes a level stakes profit at industry starting prices if you bet all his mounts to win.

At least he has over the last three years.

The profit is getting a little tighter now because he's had some high profile wins and his ability is better known by the betting public.

His day job, as it were, is with Nicky Henderson and that's where most of his profit has come from with 70 rides since January 2013 and 21 wins for a 44% ROI.

But he has had more outside rides than he has rides for Nicky H so we'll look at all rides in the last two years to see where he's done best.

First up he's an SP loser over the big obstacles but a big winner over hurdles.

It would seem that he is over bet in his Chases, I don't know why that would be because his strike rate is the same but the ROI for Chases is minus 33% and for Hurdles is plus 66%.

The data is scant, but looking at what we have I'd tend towards dropping big field races and so I'm looking at under 14 runners.

The dataset is getting small now with just over 100 runs in the last to years, so I'm going to leave it at that.

We may be a little late to the Nico de Boinville party but I still think this is a jockey we should be following.

And in the past two years if we had backed all his rides over hurdles in fields of less than 14 we would have had the following results…

Runs = 118
Wins = 25
Strike Rate = 21%
Profit at iSP = 118.96
ROI = 100%

Today's Selection

12.25 Southwell – Best Tamayuz – win bet 2/1 Bet 365

Backing Favourites for a Living – Malcolm Pett

Backing Favourites for a LivingToday we have our regular Wednesday article from Malcolm Pett and this week's subject is backing favourites for a living

Can you make money backing favourites?

Most people tell you that there is no value in backing favourites and you should stay clear of them and look for those “outsiders” that come in now and then, at a really good value.

It sounds plausible except almost 80% of all winners come from the top 3 or 4 in the betting and so although it’s not rare to see an outsider come in at great value…

…It’s not easy finding and identifying them.

Backing Favourites for a Living

If you have read any of my articles then you are probably aware that I tend to go on about strike rate and average winning odds a lot.

There is good reason for this…

…They are important…very important.

At the end of the day all that matters is that these two figures stack up and make you a profit.

If you go for the lower strike rate range then you will need higher odds to make money.

Where a higher strike rate means you need lower odds to make money.

So it doesn’t matter if you are on favourites or outsiders the figures still have to add up.

People love going on about finding value and if you like being a detective then it is really good fun.

But value bets winning are rare and so even if you get good at spotting them your strike rate is still going to be low, meaning you will get a lot of losers before finding a winner.

Looking for value bets also needs a big bank roll and you need to know when to take advantage of the odds available.

I follow a number of systems like this and you soon find out that you have to go through losing runs of 20, 30 or even 50, to make these systems work.

Not many people are prepared to do this and not many people have the bank to support it.

I am not saying you shouldn’t have high price value strategies…

…I am just saying it probably doesn’t want to be your only strategy.

But we have already talked about there being no profit in favourites so what else can we do?

Well let’s discuss that for a moment.

Let us say that we came up with a system that uses favourites and has an average strike rate of 50%.

That means “on average” we win one bet and we lose one bet.

So every time we lose…we lose 1 point which means every time we win we need to do better than 1 pt to make money.

In fact if we take Betfair prices where we can generally do a little better then we need an average winning price of 1.05, just to break even.

So let’s say for arguments sake we get on average a winning price 1.26 (2.26).

1.26 * 5% = 0.06 = 1.20 profit

So if we had 100 selections in a month and won on 50 of them it would look like this…

50 * 1.20 = 60 – 50 = 10 points.

So as you can see we don’t have to have a very high “average winning odds” to make a decent amount of points every month.

The thing is to test…it’s no good saying you cannot make money on favourites unless you try some strategies over 2 or 3 months.

If you pick well then even if you don’t get the prices you need. You are unlikely to lose as much as you would following a low strike rate high value system with long losing runs.

Malcolm

Place Ratings

Today we have our regular Wednesday column from Malcolm Pett of http://greyhorsebot.com

Using ratings to find selections to place

I was never really interested in the place market on Betfair until recently.
But while working on a new ratings system I noticed a trend that got my attention.

Lately I have got very interested in high strike rate systems that normally select runners that are ranked 1st to 3rd in the betting.

Admittedly these are not the easiest systems to make money with but they can be a little more interesting to follow than your average “One a day” wait for a winner type system.

I am not knocking this type of system as I run many of them myself. I am just saying that sometimes it’s nice to have a few more selections that seem to win very often.

Over the last year or so I have been creating quite a few rating figures based on different ideas and I have shared some of these with Grey Horse Bot users.

The idea of creating any ratings is to help you identify potential winners but I think “help” is the key word…

…They can be useful in helping you to narrow down the field and letting you concentrate on just a few selections in each race.

In my last couple of articles I have mentioned that I was concentrating on the top 3 in the betting as ranked by the BSP prices early in the morning and I wanted to carry on with that idea.

I tend to try and make it a little easier on myself like sticking to “Handicap” races only as I have in this case.

As a programmer with quite a large database of results and information to use I am lucky in the sense that I can come up with ideas and then test them quite quickly.

But you should never forget the fact that humans are very good at noticing patterns.

I make sure I spend a great deal of time just looking at my ratings within the context of a lot of other racing information, just to see if I notice something that I may not have seen just by looking at individual numbers.

And this is what I was doing while looking at my latest ratings.

It appeared that the selections that I had been highlighting (I use yellow normally) to show me strong selections (although were not winning all the time) did appear to place.

Of course nothing is ever that simple and the next thing was to discover if I could come up with a way of identifying enough winning selections to make money.
And that’s where I am at the moment.

I have a list of daily selections and I have to decide which ones I am going to place.

With a couple of rules I am able to either discount the race entirely or select just one runner to follow.

If you would like to see the daily selections and the ideas I have come up with then pop over here for a look. Click Here

You can look back to the beginning of this month at the moment to see if you can find anything yourself.

Thank you as always for reading I really do appreciate it.

Malcolm

The Grey Horse Bot

http://greyhorsebot.com

Today's Selection

12:35:00 Fairyhouse Digeanta – eachway bet 6/1 Bet Victor, Bet 365

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