Looking at Figures

I've been going through my betting activity and been looking closely at how to make my betting more profitable. I've decided to get rid of my normal win and each way bets altogether for the time being. Even though I like the feeling I get when a horse I have backed romps in first, I do feel that my money is better invested elsewhere. Firstly, I seem to break even a lot with these type of bets over a period of time. At the moment I was using the advice from Bluesky Racing and my own E/W and Win selections. However, due to Betbrokers going into administration and some of my betting funds down the drain with them, I think it will be hard for my existing bank to recover the losses. Secondly, Bluesky Racing is an honest tipping service. However, since I started in April 2008 I have not yet had a winning month with them, and I don't think I can justify sticking with them especially as subscription costs are £2000 p.a. I do hope they do turn it around, but again the pressure on my betting bank with their losses since April and loss of funds through Betbrokers means that it may be inevitable the bank goes bust, and the best decision is to call it a day. Funnily enough, it has been my own daily basic E/W bets that have performed well. These were simple bets especially in races where there was a very short priced favourite and mainly involved backing the second favourite each way! So as it stands the exciting part of my betting is buried for the time being. I have been looking at backing some horses in a 'system type' selection criteria with its own staking plan, but for now it will be paper trial only. It's very early days but I do think there may be some mileage in it.

The other branch of my betting includes a Stop At Winner (SAW) type betting system and lay bets on Betfair. I was going to try and work out the ROI for these, but sadly maths is not my strong point. I was having a look on my Betfair P&L account, and I downloaded the spreadsheet since this blog started. According to these figures, the money I have won is +£5477, and the money I have lost is -£3908. This has left me with a total profit of +£1569. A percentage profit of 40.2%. (I'm not sure if this an ROI or Profit figure or not, but my heads telling me this is good going!) This is what I will be concentrating on now. Hopefully, by spending more time on these bets I may be able to improve on them. One thing that does play on my mind is the dreaded losing run. Due to the fact that I chase my losses on the SAW system, all my profits can be gone by the end of a bad day. I do try to minimise my risk so that I only lose up to a set amount but when it comes it will be a hefty chunk! My thoughts are that it will only be then that I will be able to see how well my betting bank and this strategy is thought out. I might be lucky and never have a long losing run...and pigs will fly!!

Anyway, all thoughts, opinions and comments will be most welcome :)