Watching The Live Betting Market
Being fortunate enough to be able to watch the racing all afternoon, I often try to find new ways of betting for a profit and yesterday was no exception.
Many people find the need to watch racing all afternoon a real bind and I have to admit, doing so day in and day out does take excitement out of the game somewhat but there are many system ideas where you do need to do just that.
The idea I came up with uses the live betting market updates found on the Sportinglife website.
I can remember a few months back I looked at a similar idea to the one I am about to show you where nearly all of my selections came second. Yes it was one of those days!
However thinking of this yesterday I decided to use the same idea but just backing for a place and ended up making a profit on the day of just over four points after commission which is not too shabby and this did not include following the evening meeting at Perth.
You will not have a bet in every race so you may be spending time waiting for the start with no bet, however I do not think it is so rigid as you have to follow every race of the day, as I didn’t for about an hour at the end of the day as well as missing the evening meeting as I said.
You will miss some winning bets but as likely some losing ones too, so it is all swings and roundabouts as they say.
The Selection Process
Firstly you will need to go to the Sportinglife live shows link a minute or two before each race you will be betting on and look at the opening show for each of the runners.
Now you need to watch the betting change to just before the off and look for any horse that has been backed in three or more points that is also 8/1 or less at the off.
If you have a selection then this is the horse to back for a place, if there are more than one I will back the shortest of the two.
For me I am not concerned if one horse has come in six points and the other just three, I am only looking at the shortest odds of the two at the off.
So for example if a horse opens at 6/1 and ends up at 9/2 or less then this will be a selection as it has gone through 11/2, 5/1 and now onto 9/2 – three points . Please see the table at the end of this post for a full show of the betting odds to follow.
Two examples already today, firstly the 2.20 Carlisle.
As you can see there were two backed in by three points or more, Il Piccolo Grande and Wilsons Ruby with the shorter of the two going on to win with a place price of around 2.38. Wilsons Ruby was unplaced.
A second winning example is the next race, the 2.30 Doncaster.
As you can see, Venturous opened at 5/4 and went off at 10/11 which is four points on the betting odds scale so was a selection and won, with the place odds of around 1.43.
Now whilst these two horses both actually won, I am concentrating on the place market for this one as I am confident there will be far more horses placing than winning, having followed racing for so long and knowing just how often a so called on course gamble, leads to the horse being backed, coming last.
If you wish to back to win, or each way then this is up to you.
16/1, 14/1, 12/1, 11/1, 10/1, 9/1, 17/2, 8/1, 15/2, 7/1, 13/2, 6/1, 11/2, 5/1, 9/2, 4/1, 7/2, 10/3, 3/1, 11/4, 5/2, 9/4, 2/1, 15/8, 7/4, 13/8, 6/4, 11/8, 5/4, 6/5, 11/10,Evens, 10/11, 5/6, 4/5, 8/11, 4/6, 8/13, 4/7
You want to go three places after the opening price, so for an opening price of 4/1 a horse must be 3/1 or less.
If you want to be sure of the odds and the horses to back you may wait for the off before you place your bet in running on the exchanges.