Last week we looked at a popular racing strategy that is often used on the Betfair markets called the “Double Or Nothing” strategy. You can check out this article here if you need your memory to be refreshed as today we are going to look at just how you can profit with this strategy.
Here are 5 tips to help you profit using this strategy.
1 – Look For Horses That Run Well
Sounds obvious I know but if you want to succeed with this strategy you need to know you are trying to spot horses that run well rather then looking for winners. Use the “Timeform” card that is available on the Betfair website to look at recent form and look for horses that traded at least 50% lower than their starting price last time out, or their last few times out.
2 – Go For BIG Prices
As said, we are looking for horses that will run well rather than those who we think will win. So do not use this strategy on the short priced favourites as that will be the fastest route to the poorhouse and you may as well just back them for the win. You ideally want horses priced at odds of 6 at the lowest. A sweet spot that many suggest are the horses priced between odds of 7 to 12.
3 – Research The Tracks
There are certain courses and certain types of races that work better with this strategy than others. Not every race is the same after all and the best races could be flat racing, jumps, competitive fields etc. This is the bit we simply can not tell you as it is down to you to do the research to work out which tracks are the best for the strategy. If revealed on here then there would simply no longer be an edge to be had 😉
4 Trade Out In-play (Advanced Tip)
You can increase the risk-reward ratio of this trade by trading out in-play once the market goes against you. If you are watching the race and can see your horse is not running well, has had a bad start and is way behind then you could just exit the trade at that point and lose about 50-70% rather than 100% The in-play racing markets move quickly and so you will need software to do this with one click. Even then it is not fool proof due to the in-play delay but it is a small thing that you could do to increase your edge with this method.
5 – Combine With Lay The Field (Advanced Tip)
If you fancy the same race is a good one for Lay The Field you could actually combine both methods as a way to increase the profits. A trader I know likes to go for big jackpot wins and so if he gets his double up during the race and he also fancies a tight finish, he will then Lay The Field @ 1.25 for his WHOLE liability that he just won. So if he doubled up for £100 he would then lay the field @ 1.25 for £100 liability and potentially get a risk free chance at landing £400. No harm done if it does not come off of course!