Bookmakers Explained. The Principles of Bookmaking

Bookmakers Explained. The Principles of Bookmaking
By Bet or Trade in Horse Racing 2 months ago
Given that most people who bet on horses lose, it is likely that the reason is due to a fundamental issue rather than to the individuals involved or the methods that they employ. This article, together with the next on betting exchanges, discusses the reason why this is the case.

Betting Exchanges Explained. Back and Lay Principles

Betting Exchanges Explained. Back and Lay Principles
By Bet or Trade in Horse Racing 2 months ago
If a horse is backed to win, there are two options: The bet can either be placed with a bookmaker or on a betting exchange. If a horse is backed to lose (layed), there is only one option: The bet must be placed on a betting exchange since bookmakers do not accept bets on horses to lose.

The Importance Of A Good Selection System

The Importance Of A Good Selection System
By Bet or Trade in Horse Racing 2 months ago
When a bet is placed on a horse, there are two choices: a selection system can be used to identify those horses which should be layed to lose or backed to win, or random amounts of money can be placed on randomly selected horses running in randomly selected races i.e. not use a selection system at all.

Why It's Important to Analyse Your Betting Performance

Why It's Important to Analyse Your Betting Performance
By Bet or Trade in Horse Racing 2 months ago
At this point, we should now have a selection system or, at least, the tips from one. As was stated earlier, even a bad selection system is better than no selection system at all. The reason for this is that the results of even a bad system can be analysed, and valid conclusions drawn, whereas it is pointless analysing the results of a totally random system since the results of the analysis will also be totally random. As a result, any conclusions draw from the analysis will be irrelevant.

The Importance of Using Selection Filters

The Importance of Using Selection Filters
By Bet or Trade in Horse Racing 2 months ago
Essentially, a filter is a rule which is applied to a selection system in order to eliminate selections that, based upon the analysis of past results, have a significant chance of providing us with a losing bet. Filters can be based upon any variable associated with a horse.

The Acid Test Of Any Selection System Is Profitability

The Acid Test Of Any Selection System Is Profitability
By Bet or Trade in Horse Racing 2 months ago
How do we calculate whether a selection system is likely to be profitable or not in the long term? To calculate whether or not a laying selection system is profitable in the long term, we need two pieces of information: The first is the selection system’s strike rate and the second is the average odds of the losing bets.

What's Your Strike Rate Looking Like?

What's Your Strike Rate Looking Like?
By Bet or Trade in Horse Racing 2 months ago
Although the Strike Rate of a selection system is not the be-all-and-end-all, ignore it at your peril. The Strike Rate of a selection system is usually expressed as a percentage. To calculate it, the number of winning bets is divided by the total number of bets made. The result is then multiplied by 100 to convert it to a percentage.

How to Deal With the Dreaded Losing Runs

How to Deal With the Dreaded Losing Runs
By Bet or Trade in Horse Racing 2 months ago
Losing runs can quickly decimate a betting bank to the point where it is difficult, if not impossible, to recover the losses incurred without an outrageous run of good luck. Losing runs can occur at any time and without any warning whatsoever.

Why the Number of Runners in a Horse Race is Important

Why the Number of Runners in a Horse Race is Important
By Bet or Trade in Horse Racing 2 months ago
As discussed in previous articles, our greatest asset is our betting bank. It should, therefore, be used in the most effective and efficient manner possible. One way of ensuring this is to carefully select the races that are bet on, particularly with regard to the number of runners in the race.

Understanding Odds Movement

Understanding Odds Movement
By Bet or Trade in Horse Racing 2 months ago
The strike rate of a horse, in general, is reflected in its odds. While there are exceptions to the rule, statistics indicate that horses whose odds movement shows a downward trend in the last five minutes of betting before the start of the race win more frequently than those whose odds increase in the last five minutes of betting.