Managing Risk – The key to a winning betting system
By The UK Horse Racing Tipster
I constantly get asked for free racing tips. “I’m going racing this weekend, I want 5 winners and nothing else”, is the usual attitude.
No ifs or buts, just give me some winners, preferably the whole card!
However if there was one tip I would always give someone going racing, it would be to use the bookmakers money to bet with not your own!
If you are going betting for the day then I would sign up to online betting sites beforehand and place any bets before going to the track.
Why? Well multiple reasons:
- The 3G / 4G phone signal is usually very poor at a racetrack due to all the people and bookies using it. Therefore if you don’t use an online bookies beforehand you won’t be able to at the course. Instead you will spend your time queueing up in massive crowds to place bets and possibly collect a wad of fake twenties (depending on where you go!). Instead of enjoying the racing and not having to worry about moving from your prime viewing spot you will be constantly hustled and bustled.
- You won’t get any special offers at the track. Why they don’t do this I don’t know as the online bookies are murdering them. Therefore if you are wise you will follow my Beat The Bookies System and rotate through the bookmakers special offers and use their money to bet with not your own!
- You can spend your day enjoying your racing, knowing the bets have been placed before hand and probably at a better price than on course. Write the tips down on a bit of paper and take them with you in-case you forget! However betting online means you get free bets, refunds and best odds deals that on-course bookmakers just won’t offer you.
However this article isn’t about how you should bet when you go out it’s aimed at those of you who have either written your own betting BOT (using Betfair or BETDAQ’s API) or those of you who want to know how to make money from betting.
I spent 3 years writing my own AutoBOT and it works, however even with over 515 systems at this point in time, it is not the actual system’s that make the money but something else - risk management.
If you cannot manage your own money then your probably in trouble anyway.
Yet I admit to the world, I am useless with budgeting, saving and not getting into debt. I’m a bloke for God’s sake, what do you expect me to do when I am down the pub and it’s a choice between being sensible, saving my money and having a quiet night in or having another five pints?
This is why I wrote my AutoBOT. I wanted a computer system with a bookies brain and some artificial intelligence to make the bets for me. This was so I only had to look at my phone now and then to see how much I was betting and get a nightly email that told me my profit/loss for the day.
I wanted to take my sticky, messy fingers out of all betting decisions and leave it up to my computer.
It knows the statistics of every course, the chances that a favourite will win at Ascot or York and the types of races, jockeys, trainers and horses that have a higher win % than the others. Which yards and trainers are in form and which jockeys and trainers are out of form. It all matters but it’s all a lot of information that your brain may not be able to handle at once.
So whilst I cannot divulge 3 years worth of programming skills in one little article I can give you some key tips. These are the ones that have insured I have made money and keep making money.
If you want to code these into your own API / Betting BOT then do so, if not you can still do it by hand.
Here are some good tips on managing risk during your betting.
Sorry this article about managing risk is only available to weekly, monthly or yearly subscribers.
However you can join the site now for a mere £2 for a days access to all members tips and full articles or £25 for a months subscription to over 515 systems.
Good risk management covers all possible scenarios. It will help you during good AND bad times.
Risk management is key when it comes to betting so get your head round it as it will save you more £ than you can possibly know!