Bookmakers

6 Tips For Following Racing Tipsters On Betting Exchanges

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It is common knowledge these days that if making money betting on horse racing, you will at some point encounter difficulty with either your stakes being restricted or your bookmaker account being closed.

There is hope that this may change in the future with the discussions surrounding a minimum bet law, which are certainly gaining traction in 2018.

Yet until such a time as bookies either agree or are compelled to lay all punters a decent bet, one of the most popular places to bet without issue are the betting exchanges.

So, to help you understand more on how to maximise this, I have put together this updated guide featuring 6 tips for following racing tipsters on betting exchanges…

1) UNDERSTAND WHEN MONEY HITS THE RACING EXCHANGE MARKETS

As an exchange-only racing punter, it’s important to understand that the vast majority of money only starts to flow into most racing markets approximately 10 to 15 minutes before the off.

(I say most as there are some obvious exceptions such as at Cheltenham or other big race meetings, which will see larger sums traded earlier)

To showcase this, compare the amount of money traded on Betfair for each of these 5 races that took place on a pretty standard Monday afternoon’s racing.

I simply noted down the amount of money traded at 3 time points: 21 minutes, 11 minutes and 1 minute before the off for each of the 5 races, which you can see below:

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Without exception, the most trading took place in the 11 minutes before each race started.

Take the 4.30pm race as one example – at 4.19pm, there was £60,925 traded yet come 4.29pm, this had jumped to £495,057.

Within 10 minutes an extra £434,132 had been traded – 87% of the entire market!

The knock-on effect of this is two-fold.

Firstly, it’s an understanding that most of the trading takes place during this time and when your exchange bet is most likely to be matched.

Secondly, it’s the knowledge that prior to the final 10 minutes, it is harder to get your racing bet accepted, especially if it’s based on advice coming from a popular tipster.

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2) CONSIDER BETFAIR SP TIPSTERS

One of the simplest angles to make a profit on the exchanges is by following tipsters that make a profit at Betfair SP (after commission of course!).

They offer the easiest, most simple approach as once a tip comes in – you simply place the bet, stick in your stake at Betfair and walk away.

Although the number of profitable Betfair SP tipsters is growing, it’s a fairly small pool to choose from currently.

One profitable Betfair SP tipster I rate highly is the free ‘place laying’ tipster providing their advice for free to SBC members currently. The tipster is called ‘The Accountant’.

Simply put, he recommends you lay their horses NOT to finish in the place money in any given race. That is not to finish in the first 2, 3 or 4 of a race depending on the number of runners.

Over the course of more than 800 lays and risking no more than 3% of your betting bank on any advised price lay, this tipster has grown a bank of £1000 to in excess of £2,500.

This is after 5% Betfair commission has been deducted from each profitable lay.

Providing one simple angle for those of you after a simple exchange tipster for you to follow.

3) DON’T BET IF THE VALUE HAS GONE

One of the most fundamentally important points to consider when betting is that of obtaining value.

All successful punting is based on the concept of value betting and the idea that the odds for any particular bet are priced in your favour.

Therefore, the odds you take on a bet really matter.

If you can get 5/1 on a horse that should be 4/1, then you have a strong value bet.

Yet if the same tipped up horse at 4/1 is only available at 3/1 – the opposite applies.

If you constantly are taking too short a price on a horse, you will lose money.

Which is why it’s important to ONLY bet if the value is still there.

Many good tipsters recognise this and put up minimum value odds to make you aware of where the value cut-off point actually lies. They recognise that a tip might see market support and if it does, you know where to draw the line.

If restricted to exchange betting, look out for this and stick to the minimum value thresholds – they are there for a reason and they will guide you as to the prices to take.

And whatever you do – never place a bet if the value has gone.

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4) RECOGNISE YOU WILL WIN SOME, LOSE SOME

Mindful of the need to take a value price, if exchange betting you must accept that sometimes you will miss out on a bet if the odds are too low.

Yet on the flipside, you might also get BETTER odds on other bets when the odds drift.

Whilst on occasions, you might miss out on a winning bet because you can’t get the right odds, on other occasions you will enjoy a bigger payout through this strategy.

If and when this happens, remember the logic behind it all and try to be as phlegmatic as possible.

All gamblers HATE missing out on winning bets, especially if they feel they should have been on it, yet they very rarely remember the times they missed out on a bet that lost.

My suggestion here is to consider keeping a record of each occasion you miss out on a bet (both winners and losers) or get a greater value price than you might have originally. Through this, you can track the ups and downs and see at a glance exactly how you have fared overall.

5) DON’T WORRY ABOUT DRIFTERS

Flowing on from this last point – don’t also get too bogged down by the idea that a ‘drifter’ (a horse whose odds get bigger as the race draws nearer) is no longer worth backing.

Racing pundits like to bang on about horses being weak or friendless in a market, yet the reality is they have no idea if this market move is significant or not. They are often just filling airtime.

If market support was so telling – everyone would simply lump on a horse at the first sign of it being backed in. Market support is no guarantee a horse is a ‘good thing’.

Unless there is clear evidence a horse has something wrong with it before a race, don’t be unperturbed by backing a ‘drifting’ bet.

Look at it instead as a chance to get better value. If you can get 10/1 about a tip advised as value at 6/1 earlier in the day – take it!

After all, unless the horse in question has a major problem – if a tipster you trust said that 6/1 is a value price, then 10/1 will represent a massive increase.

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6) CAN’T GET MATCHED STRAIGHT AWAY? PUT IN A REQUEST

If you can’t get on a bet earlier in the day at a value price, you might also like to consider putting in a request to get matched on the exchanges later on that day.

There are two ways you can do this – requesting a price pre-race and also in-play.

Pre-race betting is easy – you set the odds you want to take and put the request into the market to hopefully be matched. If come the start of the race it isn’t matched, the bet is cancelled.

Putting a bet in the in-play market is different as it ensures the bet will also remain available throughout the race as it takes place.

When doing this, it’s important to be aware that you will ALWAYS be matched in-play on any bet that loses the race BUT there is no guarantee you will be matched on a winner.

Therefore, you do have to approach in-play betting with caution and it is best when used in conjunction with watching a race live and an understanding of racing in general.

You also might only want to leave a bet to be matched in-play, when the odds pre-race are very close to those you wish to take OR perhaps risking only half stakes.

Equally if you have a good knowledge of racing, you might want to make judgements based on the competitiveness of each race, the merits of each horse (does it prefer setting the pace or being a backmarker) and the distance run.

MORE HELP EXCHANGE ONLY BETTING

I do hope over the course of this article, I have helped provide some answers to questions you might have about betting on the exchanges.

Here at the Smart Betting Club we have a burgeoning members section devoted to exchange-only betting.

Within this exchange section you can read our detailed reviews and analysis of a handful of profitable betting exchange-friendly tipsters.

Ideal for those of you either unable to bet with bookmakers or simply looking to bet on the exchanges as much as possible.

So, if you are you looking for a solution to help you turn a profit using the betting exchanges (or indeed the Asian football betting markets), you might like to consider a Smart Betting Club membership.

Join The Smart Betting Club.

Black Type: An important update on this popular bookmaker and their £500 lay guarantee

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Back in November 2016, SBC penned a report on a new bookmaker on the scene, Black Type and in today’s email I have an important update to share on their service as a follow-up to that.

Black Type began life back in August 2016, and immediately drew lots of interest with many intrigued by their straight talking and guarantee to lay all punters to lose up to £500 on any bet, even if they were regular winners.

To discover more, I interviewed Black Type and published this alongside SBC’s investigation into the odds they offered in a special Black Type report in November 2016

Since that original report, several things have changed in terms of Black Type’s approach and I thought it prudent to update you all on the current situation to bring you up to speed.

Some subtle and indeed some less-subtle changes have raised a few concerns and whilst for my money, they still represent a better option that many of their competitors, I felt it was important to clarify exactly what is on offer from Black Type these days as I understand it.

To Black Type’s credit as well, they have also replied to the points raised through this article, details of which can be found further on.

Black Type’s Initial £500 Lay Guarantee

The main headline grabber for Black Type upon launch from SBC’s perspective, was their guarantee to lay all punters up to £500 to win, including their acceptance of bets from winning punters.

This was the kind of offer many of us had long hoped to see and Black Type seemed a welcome addition to the bookmaking ranks.

It was made clear through the interview that this £500 guarantee was open to all aside from obvious arbers or those using bots or automated methods to scrape a few quid ‘gaming’ the system. Those abusing it in this way would be spotted and banned, whilst those trying to get genuine bets on would be accommodated, even if winners.

Black Type backed their traders to ultimately use their skill to build a book and make a profit as they made clear in the original interview:

“With more and more punters wanting to take our prices, punters need to be quick and our traders need to be agile to manage our liabilities effectively by ‘old school bookmaking’. If we take a bet from a winning punter we are confident our traders will use the ‘mark’ to position themselves in the market where they will take money on other selections and build a book.We are backing our traders to set the correct odds for the right events that will attract punters through the door and effectively betting that they’ll still make a decent profit margin at the end of the month.“

 

Perhaps best of all was their statement inviting those punters trying following popular tipsters to try getting on. Here is what they told me in the original 2016 interview:

“Punters who like to follow a certain tipster, like Hugh Taylor, Pricewise or those the Smart Betting Club recommends will not be penalized. They just have to accept that others will be after ‘popular prices’ too so they will need to be quick to get the best prices and also be prepared to take a lower price if they miss out. Unlike other bookmakers, their potential winnings on tipster selections will not be restricted. Our bet to win guarantees will still apply and they will still be able to have a bet to win at least £500.”

What Has Changed Since Then

As you can imagine these statements were welcomed by many operating at the sharp end of the betting market as Black Type looked to carve out their niche in the competitive bookmaking world.

In more recent times though, it’s become clear that there have been some notable changes to these original policies, which this article is intended to address.

The first and most obvious change is the removal of the guarantee to lay to lose £500 on any bet. This is no longer listed on the Black Type website and has quietly been dropped.

I have also had communication with around a dozen or so punters, some SBC members, some not, who have experienced issues with their Black Type accounts, including that of stake restrictions.

Some punters have had all promotional offers removed from their accounts, whilst others were told that their following of popular tipping lines would not be accommodated and restrictions in the region of max winnings of £50 to £100 or £200 applied. Still they were able to get on, yet clearly this went against the original statements on the guarantee.

Almost all contacting me complained about the customer service replies they received as well – a situation that frustrated them further.

Here are a few of the comments received that illustrate some of the problems these punters have had:

“I had a 13/2 winner on Saturday for £30 each way, which had an SP of 10/1 SP. I tried to put £30 ew on yesterday and they limited me to £12.37. I’ve not even won any money from them”

——

“In their 2016 interview, they [Black Type] stated they wouldn’t restrict anyone was who playing fair. And in their terms and conditions they said they’d give people warning etc.

Without warning, they restricted me to pennies. They said that I did too much Hugh Taylor – I also did a couple of other paid-for tipsters too, and some of my own Scottish football bets.

I was polite but stated they quite clearly said it was fine to bet tipsters in their interview with you – they actually explicitly mentioned Hugh Taylor themselves and said people were welcome to try him. I said they had to review this as they were telling media one thing then doing the opposite to their customers. They eventually agreed to let me bet-to-win £100 (rather than £500), or £200 on popular races.“

——

“I contacted Black Type earlier as I have noticed a few of my bets not getting matched recently.

They responded by informing me that my account has now been restricted to £250 for horse racing. I obviously replied reminding them of their own marketing message of ‘never restricting winning accounts’ to which they replied that they thought £250 was still fair!”

———————-

After being restricted to £28 on a 7/4 bet I was told that:

“Your continuing plays on tipping lines will not be tolerated. We are here to offer a fair service and not to appease punters who are looking to exploit the service to their own gain, by consistently following in tipping lines.”

—–

“They’d lay me to lose very small amounts but while knocking back my bets they would cut the price. I’m a member of a good tipster service, but would never put the full amount advised on with just one bookie.

It was very surprising and disappointing as I remember reading that they wouldn’t restrict anyone and that the onus was on their traders to get the odds right”

Black Type’s Response

When the first of these messages started to come through late in 2017, I approached Black Type to ask if they could help address these queries and clarify what their position now was.

At this point they agreed to a detailed, updated interview, which would tackle some of these questions on restrictions, their lay guarantee and so on, in an effort to get the latest from them.

Sadly, despite numerous attempts and slipped deadlines, I was unable to get the promised detailed replies to these questions. Whether this was down to a lack of time or appetite to tackle this issue, it’s hard to say but I felt 6 months was long enough to wait for some definitive answers. It was high time for an update on this topic.

Hence why I put together this article and in the interests of fairness, I shared it in advance of publication with Black Type to see if they wished to post a reply.

To their credit they did and shared the following statement with me from their Head of Media and Communication, David Preece:

“Black Type was launched in late August 2016 to service a clear gap in the UK market with an odds focussed and customer friendly approach. Black Type’s goal was to prove that it was possible to build a brand by investing in a bespoke price driven strategy without the expensive and one off marketing campaigns employed by the majority of existing and new market entrants, a lot of whom are now, more so than ever, over reliant on commoditized price feeds and managed services.

Black Type’s ethos remains to offer good prices, fair limits and varied betting opportunities to customers via an easy to use interface. Black Type currently provides horse racing, greyhounds, football and sports (pre-match and in-play) casino and virtual betting via website, mobile / tablet and a native IOS and a soon to be launched Android app to UK customers only.

When Black Type launched there was a misconception that we were a niche horse racing brand but it was always the intention to develop a full sportsbook which adopted the same principles to the racing of offering Black Type (‘stand out’) prices. Anyone who has observed our prices on Oddschecker over the past year across a variety of sports including football, cricket, snooker, darts and boxing will see we have been true to our word, regularly betting to far more competitive margins than industry standard.

With a growing customer base of regular, satisfied customers 2017-18 has proven to be a transformational year for Black Type as we have moved out of the ‘start-up phase’ and recently completed a round of investment to allow us to consolidate our position as the UK’s leading price focussed bookmaker.

Black Type attracted a lot of attention for initially offering a ‘bet to win’ guarantees but like any business we have evolved over time. The main brand message is now all about Black Type always offering value which will be actively promoting this summer on social media and via sponsorship of Ripon racecourse for the 2018 season. The bet to win guarantee was in place for well over a year and many of our customers, including ‘winning accounts’ still enjoy this concession and are laid bets to win far in excess of the £500. Indeed, we would be confident that Black Type compare very favourably within the industry when it comes to laying bets in size.

Yes, some customers did have the concession removed and have restrictions placed on their account which was largely down to the nature of their betting patterns and attempts to ‘exploit the system’. In the vast majority of cases they were contacted by members of our trading team who observe bets in ‘real time’ and advised that their account was under scrutiny and should they choose to offer more genuine business they would not have restrictions imposed. At other bookmakers, accounts would have been automatically closed or severely restricted without any communication and as you can see from some of the responses you have quoted, we do still try to allow customers to get what we deem a fair bet.

Our stance on ‘arbers’ was clear from the outset and those who exclusively use the exchanges to pick their bets can not really complain if they are not laid bets to the same size as someone who makes independent selections. It is a similar story with those who exclusively follow tipsters or look to take advantage of promotional offers. Their patterns are obvious and it very apparent they have no intention of providing genuine business.

Again, followers of tipsters were contacted by our team and advised how they could operate their accounts to fair limits. It really is a case of if the customer ‘plays fair with us we will be fair with them’ and consequently those who decided that a Black Type account was worth having are still able to follow tipsters like Hugh Taylor and Pricewise alongside backing the selections they have picked themselves.

To conclude and clarify Black Type’s business model is more like an ‘old school’ bookmaker and we are committed to offering market leading prices, wherever it is feasible, and laying a bet on high profile events to differentiate from industry standard pricing and over restrictive customer management. Black Type regularly reward loyal customers and have successfully introduced a Free Bet Club, and other promotions including Acca Cash Bonus, over the past 12 months where customers earn weekly free bets and bonuses.

The World Cup will headline a great summer of sport supported by the major racing festivals at Epsom, Royal Ascot, Newmarket, Glorious Goodwood and York so customers wanting to enjoy a premium service, where they will consistently get the best prices on front end market selections, are more than welcome to judge Black Type on their own individual experiences and are reminded Black Type will always be synonymous with value.”

What Their Reply Tells Us

So, there we have it – confirmation as to what has changed at Black Type and the latest on their policies as per winning accounts and what might happen to those of you who follow tipsters. The lay guarantee has been removed as part of the evolution of their business.

It’s certainly useful to have this update and my thanks to go to Black Type for being fair-minded enough to provide a reply and to tackle what are difficult questions for a bookmaker. Most firms wouldn’t even acknowledge such questions on this topic, let alone reply to them in detail so a lot of credit is due their way for caring enough to respond.

Whilst SBC doesn’t advocate arbing or matched betting abuse (nor following tipsters with ridiculous odds movement like Hugh Taylor or Pricewise) so understand the Black Type stance here – one point I would question is the usage of the term ‘genuine business’ and what exactly this means for those following ‘other’ less well known tipsters or strategies.

If you are following a tipster as part of your betting strategy, or choosing to bet with Black Type because they are offering the best odds in a specific market, does this somehow make your business less genuine?

After all, should a bookmaker adopting such an ‘old school’ trading method not simply adjust their books and liabilities based on inputs like this from shrewd accounts?

Perhaps this is too simplistic a view in today’s complex bookmaking world but its one many punters will have.

I don’t like the term ‘genuine business’ as it’s regularly used by other bookies as a way of describing punters that don’t win money (and conversely winning punters are termed ‘non genuine business’) and whilst Black Type do regularly accept bets from winning accounts, it does leave a bit of a grey area as to what exactly will be determined ‘genuine business’ or otherwise.

Certainly, those of you following certain tipsters or strategies that might see you backing well supported horses, should be aware of the possible issues at play here. You could have your stakes limited and/or concessions removed, although admittedly the number of customers complaining to me about this is a small minority thus far.

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In Summary – Still Recommended But Be Mindful Of These Issues

Whilst a fair bit has changed since the first interview, for my money, Black Type are still much better than most, if not all other ‘major’ bookmakers – the likes you will find offering odds to customers via sites like Oddschecker.

Yes, there have been around a dozen or so issues that have been raised directly with me over time, and these do need addressing.

They however, do need putting in context to the number of punters using their service, the majority it seems have no known, major issues.

The restrictions imposed have reduced the amount that can be won to sums like £50 or £100 (so they can still get on if they wish) and unlike other bookies, they have not to my knowledge closed accounts.

Share Your Comments

As I wrap up this update, it’s important to note that SBC has no link or financial interest with Black Type – this article is solely to update you on the changes with this bookie since our first feature on them.

As ever my goal is simply to help educate and provide informed facts on all bookmakers and exchanges with the central goal of helping you make money betting.

Whilst I appreciate the difficult job bookmakers face, my interest lies not with them but with you the punter and SBC will always put your needs first.

Therefore, I hope this article has helped to bring you all up to speed on the latest as per their offering as an update to the original November 2016 SBC Black Type report.

If you have any comments you wish to raise with me on Black Type (good or bad), please do feel free to contact me via pete@smartbettingclub.com with them.

For those of you after more on bookmakers, I do also recommend the Top 100 Bookies website which ranks them based on ratings received. Although it doesn’t at this time include Black Type, you can see the best and worst firms to consider betting with and its a useful resource.

Best regards

Peter Ling
Smart Betting Club Editor

2 Hand-Picked Cheltenham Offers – £40 In Free Bets & Low Exchange Commission

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2 X Cheltenham Offers From Smarkets & Matchbook

Mindful of the fact you will no doubt be inundated with offers and promotions this Cheltenham Festival, I wanted to share details on just two special deals from the betting exchanges, Smarkets & Matchbook that have taken my eye.

You can enjoy £40 in risk-free bets as a new Smarkets customer OR pay just 0% commission throughout Cheltenham with Matchbook (open to both new and existing customers) in 2 special offers of real note.

SBC has featured both firms in depth over the years as they offer lower commission rates than their main rival, Betfair and are an ideal option for those of you looking to get your racing bets on without issue.

Although at this point its also worth re-iterating that both firms also offer plenty of options for punters on other sports such as Football, Tennis, Golf, NBA & more.. Don’t make the mistake of thinking they are for racing punters only!

Smarkets £40 in Risk-Free Bets During Cheltenham (New Customers Only)

First of all, Smarkets are offering new customers the chance to enjoy 4 X £10 risk-free bets on each of the four Championship races at the 2018 Cheltenham Festival.

Simply place your bet(s) on the 15:30 race each day during the Festival and any losses on the race will be refunded to your account up to a maximum of £10.

To take advantage of this offer, you must be a new customer and use the code ‘“Cheltenham2018” when prompted on sign-up. There is a minimum site deposit of £10 and net losses will be refunded up to £10 on each of the 4 races.

Click here to visit the £40 offer page to take advantage of this offer.

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Matchbook – 0% Commission Until Cheltenham Ends

Matchbook are also offering you the chance to pay 0% commission on all racing bets between now and the end of Cheltenham – an offer which is open to both new and existing customers of their exchange.

It’s actually based on an extended offer they have put forward since February 9th to herald the fact you can now bet in-running on Matchbook.

With liquidity next week at Cheltenham expected to be robust, I highly recommend you check out Matchbook if looking for an exchange option paying the lowest commission rates during the festival.

Click here to sign-up for a Matchbook account.

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These special offers aside, I do recommend both Smarkets and Matchbook, hence why I am happy to share details on them.

Both offer sustainable, lower commission and useful ways of extracting more value from your bets (be it on racing or any other sport they cover) and they are both widely used by the SBC team.

Whatever you back at Cheltenham this week, I wish you every success with your betting.

Best Regards,
Peter Ling
Smart Betting Club Editor

Your Help Needed: Minimum Bet Law & How You Can Get Involved

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If bookmaker account restrictions and closures are a problem for you then I have important developments to share today – including how you can help drive change towards a minimum bet law – where bookies would be compelled to lay ALL punters a certain amount whatever their skill and profit level.

Driven by the punters champion, Brian Chappell of Justice for Punters, it is your chance to stand up and demand change in the bookmaking industry.

A Gambling Commission Consultation On Bookmakers

The Gambling Commission (GC) has recently opened a new consultation into Licence conditions and codes of practice (LCCP)’ of bookmakers and are extremely keen to hear from gambling consumers (i.e. YOU) on your thoughts about the industry and how you are treated.

If you want the GC to have more powers to enforce fair play of any sort amongst bookmakers, including the ‘right to bet’, (in other words to introduce a minimum bet law for sports betting) it’s vitally important as many of you as possible contribute to this consultation.

It’s not just the right to bet and minimum bet laws that are covered by this consultation but also other bookmaker ‘complaints and disputes’ that you might have. After all, we all know that present customer services from nearly all major bookmaking companies are poor and people often have to wait months for justice using dispute resolution.

It’s your chance to feedback therefore on topics like:

  • Your experiences with bet restrictions and your thoughts on a min bet law;
  • The issues you regularly experience with bookmakers as a keen punter;
  • The changes you would like to see implemented as part of a fairer system.

All of these opinions and more are being sought by the Gambling Commission as part of their consultation.

Rather than fill in the long-winded LCCP formal consultation document itself, the good news is that you can now share them your thoughts with the GC via email to consultation@gamblingcommission.gov.uk

But before you pen your email – allow me to provide some ideas on how to make your submission to them as powerful as possible…

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Tips To Make Your Contribution As Impactful As Possible

To help ensure your email to the GC has the maximum impact, I have a few pointers on how to frame it as follows:

  • Include as much detail as possible

The more detail you can include in your email to the Gambling Commission, the better. If you have a long history of bad treatment whether it be bet restrictions, slow withdrawals, bet disputes or anything else, then make sure you write about it.

  • Share your personal experiences

No-one can question your personal experiences if you have suffered what you believe to be unfair treatment at the hands of a bookmaker, so be sure to include as many of these as possible within your email.

If you had your account limited or closed – why did this happen and when? Had you made any money betting at that point? How did each firm treat you?

If you had a bet dispute or delay withdrawing funds – again, why did this happen, who was it with and how long did it take to resolve? (if at all)

  • Try not to rant & be constructive

I know bookmaking can be an emotive subject for many, but if you can, try and make your points as calmly and eloquently as possible. Ranting emails are likely to be overlooked in favour of those that make their points clearly and constructively.

  • Question the standards and morality of restrictions

We all know there are some very distinct issues when it comes to betting restrictions and that it is simply wrong that a UK gambling licence allows companies to refuse to trade with anyone who shows ability when sports betting.

This is not fair and not what a bookmaker is supposed to have a licence for.

It is presently made worse by the fact that bookmakers do not make it clear in their advertising and terms and conditions that all customers who study and use skill are effectively banned from sports betting using stake restrictions.

Contrasting restrictions with how free and easy bookmakers make it to lose money with them, be it online in their casino or by playing FOBT’s and you have some very clear double standards to reference.

Why We Want A ‘Minimum Bet Law’

We have been banging on about the issue of restrictions now for several years, including through our Better Betting Campaign, which we ran in 2016 to raise awareness of this issue.

As we outlined in that campaign – the solution to betting restrictions has long been that of a minimum bet law or right to bet, which would compel all bookmakers as part of their licence requirements to lay a bet from all punters for an agreed amount.

A sensible figure bandied around is that of laying to lose up to £500 on any one bet – so for example you could get £50 on a 10/1 shot without issue.

I ran a short poll on this for 2 hours on social media on Tuesday with 36% of you thinking £500 is a sensible amount and 38% hoping for £1000+.

SBC Twitter Poll

Whatever the amount any minimum bet law might have, it’s worth looking to Australia, where a similar rule has been imposed for sometime now and is working to good effect.

To implement such a rule in the UK would ultimately require regulation as bookies have shown no appetite to lay bets from all punters themselves. They have proven time and time again, that as an industry they cannot self-regulate effectively.

Whilst most bookmakers continue to blame ‘arbers’ and say it’s only a tiny minority of punters impacted by restrictions, the ever-growing number of those complaining about it would suggest otherwise.

Even the Racing Post has belatedly got in on the act, with Editor Bruce Millington finally agreeing action is needed on this issue. Although his counter-argument that such a law would see some punters opening multiple accounts to get up to £20,000 on (if the min bet law was £1000 and they had 20 accounts) is a very weak one. In reality, very, very few punters are staking up to such levels. In any case, bookmakers are not being told what odds to offer so they could simply slash the price on any bet they are worried about liabilities on if too much money comes in. It’s that old chestnut again – bookmakers actually running a proper book.

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Parliament Takes An Active Interest

Bruce was also one of the invited speakers (alongside Simon Rowlands of the excellent Horseracing Bettors Forum and SkyBet CEO Richard Flint) at a recent Parliamentary All-Party Betting & Group seminar entitled ‘ ‘Are bookmakers unfairly closing customer accounts?’

As the Guardian report of this packed meeting suggests, the likelihood of a min bet ruling is growing ever more likely as momentum grows on this issue.

One of the attendees, Lord Lipsey summed up many punters thoughts when he exclaimed that “We should be congratulating winners, not denigrating them, if we want racing and betting to grow” and that “Bookmakers need to get a grip of this”.

The clear implication that if bookmakers won’t take action on this issue then the government and regulatory bodies will, just as they are doing on FOBT’s.

All of which is why it’s so important as many of you as possible share your experiences with the Gambling Commission on bookmakers.

If you believe a min bet law is needed – let them know why and how restrictions have impacted you.

You can send your thoughts to them via this email address: consultation@gamblingcommission.gov.uk

Don’t miss out on this opportunity to help drive change!

Thanks To Justice for Punters

A word if I may as well here for the aforementioned Justice for Punters (JFP) group of volunteers, who continue to do sterling work on behalf of us all and who have led the charge on this topic.

Brian of JFP has been a tireless campaigner for punters rights and a constant thorn in the bookies side over recent years. Whilst the Racing Post refuse to highlight his work, he has been quoted extensively by the likes of the Times, Guardian and BBC who recognise his status.

His help in raising awareness of this new consultation and enabling the Gambling Commission to accept submissions via email has also been vital. My thanks go out to him for all his assistance.

For more information on the work of Justice for Punters please do visit https://justiceforpunters.org/ and become a ‘friend’ of their campaign. This is free and none of your details will be shared with any other organisations or for that matter, anyone.

Best Regards,
Peter Ling
Smart Betting Club Editor

Pete_HeadShot_SMall

 

 

 

 

 

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The Votes Are In: Your 3 Best & Worst Bookmakers Revealed

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As promised, I am back today with the results of the final 2 categories as voted for by you in the 2018 SBC Awards, that of Best and Worst Bookmaker.

These awards offer a unique insight into those firms attracting both your praise and ire based on the service (or lack of) that they have offered you over the past year.

As ever these awards are based on your votes (not mine or SBC’s) so represent the general consensus of what the majority of you think on both the good and bad of the bookmaking world.

So, without further ado – here is who you voted for as both best and worst bookie…

2018-SBC-Awards

Revealed: Your Favourite Bookmaker

Let’s kick things off firstly by examining who you voted for as your best bookmaker from last year, with the results as follows:

Best Bookmaker SBC Awards 2018

The winner of the Gold award for best bookmaker by a very clear distance was Stoke-based internet behemoth, Bet365. With a very user-friendly website, huge numbers of betting markets and a massive presence both online and on your TV screens, it’s no surprise to see Bet365 scoop this award for the second year running.

Best_Bookie_Gold

Holding onto the Silver award for this year is Betfair, who despite increasingly focusing on their sportsbook, remain very popular especially for those using their betting exchange.

To give some context as to the popularity of both Bet365 and Betfair – it should be noted that between them they took 66% of all the votes.

Making up the best of the rest and winner of the Bronze award with 7.6% of the votes was Paddy Power (who it should be noted merged with Betfair in 2016).

Mentions here must also go to both Pinnacle & Smarkets who polled around 7% of the votes between them to be the 4th and 5th best rated firms.

Your Worst Bookmaker

Onto one of the most anticipated ‘Awards’ – that of the Worst Bookmaker, where once again you voted in your droves as follows:

Worst Bookmaker SBC Awards 2018

The common element between the winner of this year’s Gold and Silver Awards is the fact that both Ladbrokes and Coral are now part of the same firm, following their merger in late 2016.

Ladbrokes also scooped the worst bookie award last year, so it seems whatever they are doing wrong at the magic sign has rubbed off on new stablemate, Coral, who appeared from nowhere to take the Silver award this time out.

Worst Bookmaker Gold Award - Smart Betting Club

The Bronze award this year also went to perennial worst bookie candidate, Stan James, who drop down a spot from Silver in 2017.

It must be noted how competitive this field was with very little to choose between the top 3 and those who finished 4th and 5th respectively – Betfred and Boylesports.

To illustrate this clearer, here is the percentage breakdown of votes from the top 5:

  • Ladbrokes: 20.08%
  • Coral: 16.73%
  • Stan James: 16.6%
  • Betfred: 14.67%
  • Boylesports: 13%

What the closeness of this vote helps indicate is just how widespread punters issues remain in general with how they are treated by bookmakers. This is not just about one rogue firm, but a malaise affecting the whole industry, where practices need to improve across the board.

Last Year’s Results:
Gold – Ladbrokes
Silver – Stan James
Bronze – Boylesports


“My Net Profit Was In Excess Of £58,000”

“I have just conducted a review of the tipster performance for 2017 and my net profit was in excess of £58,000, the majority of it coming from horse racing.”
Michael – An SBC Member For 5 Years

Read more from Michael on his profits last year

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For of you interested reading more, you can gain full access to the complete 2018 SBC Awards Report with a Smart Betting Club Membership.

Here is what else you can read about:

  • The Best Horse Racing, Sports & Overall Tipster (Gold, Silver & Bronze winners)
  • The Best Free Tipster (Gold, Silver & Bronze winners)
  • The Best Tipster Newcomer (Gold, Silver & Bronze winners)
  • The Outstanding Contribution to Tipping & Editors Choice Awards (recognising some of the best tipsters and betting experts)
  • The lowdown on why 79.8% of SBC members made a profit last year from their betting.

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See you on the inside.

Peter Ling
SBC Editor

Pete_HeadShot_SMall

Betting Exchange & Bet Broker Guide: The Best Places To Bet

Posted on by Peter Ling

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Discover the best places to bet this coming football season with SBC’s brand new ‘Betting Exchange & Bet Broker Guide’ – available now for instant download!

IN FACT – whether you bet on football or other sports like horse racing, golf, tennis, cricket and any major US sports like NBA, NFL – this guide will help show you the best firms to bet with.

Tackling 4 of the best firms we have found and examined ourselves – the guide avoids all the usual bookies you already know about and focuses on the lesser-known firms that the professionals use. You can also read our exclusive interviews with each firm on what they offer.

They might not be household names or have a bookie shop open in every town, but what they do offer you is the chance to get better value odds on your bets.

Combined with much lower commission rates if using the exchanges we recommend, it all adds up to more profit when you win!

Sign-up now to gain instant access (and the entire SBC back catalogue) or read on for more…

The SBC Betting Exchange & Bet Broker Guide

SPR Cover Part 4

Also – Grab Parts 1, 2 & 3 Of Our New Football Season Compendium
(PLUS Part 5 When Released Shortly!)

Alongside instant access to the Exchange & Bet Broker Guide (Part 4), you can also access Parts 1, 2 & 3 of our 2017/18 Essential Football Compendium the instant you join the Smart Betting Club.

Part 1 is our Sports Tipster Report which features updates on 24 of the best sports betting experts we continually monitor. Including details on the new Hall of Fame Tennis tipster hitting a 10.5% ROI from 1480 tips AND the Baseball expert averaging 133% betting bank growth each year.

Part 2 is our 17/18 Football Tipster Guide, which features our take on 12 of the very best football tipsters we monitor with updated ratings, rankings and recommendations for the new season. You can also read detailed interviews with several of the expert tipsters included on their strategies for the coming season and how best to maximise their advice.

Part 3 is our in-depth review of The Football Guru service from the Betting Gods tipster network. We examine the pre-match and in-play tips from this popular expert to gauge exactly how their performance stacks up.

SPR Cover Part 1 SPR Cover Part 2 SPR Cover Part 3

Join SBC Risk-Free Now (90 Day Money Back Guarantee)

You can also now join the Smart Betting Club with the full peace of mind provided by our full 90-day make money guarantee.

Sign-up for either a Gold or Platinum membership and if you don’t like what you see, you can get your money back at any time during your first 90 days as a member.

No questions asked!

If you sign-up and don’t like what we offer for any reason, email us and we will process a full refund. It’s that simple.

Best of all if joining the Smart Betting Club today you can also save up to a whopping £38 on the usual cost of membership.

This is because we have slashed the price of joining to ensure as many people as possible have access to our reports, magazines and guides.

We know we can make a difference to your punting – so why not sign-up right away and get started immediately.

See you on the inside.

Best Regards,

Peter Ling
Smart Betting Club Editor

pete

5 Shrewd Tips To Help Avoid Bookmaker Restrictions

Posted on by Peter Ling

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Today I want to reveal my 5 tips to help you avoid bookmaker restrictions – ideal for those of you closed down or limited by unfair bookies. It is a follow-up article to my 2 part guide on using the betting exchanges – read both Part 1 and Part 2.

Here then are 5 simple tips on keeping your bookmaker accounts open and unrestricted for as long as possible!

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1) Bet More On The Big Race Meetings & Festivals

Whilst many bookmakers care very little for run-of-the mill midweek racing fare, they do raise their game when it comes to the major race meetings.

Whether it be Cheltenham, Goodwood or simply the big feature races each weekend, the extra interest and money swirling around these races allow the bookies to lay more bets.

Yet how bookies react to winners at the different meetings is notable as a big 20/1 winner at the Cheltenham Festival won’t raise half as much interest in your betting account than a 20/1 winner on a wet Wednesday at Wolverhampton.

Therefore, one strategy a number of punters (and tipsters) utilise is to bet a lot more during the major race meetings.

One tipster we recently upgraded into our Hall of Fame takes this approach – and their primary focus is to provide tips for higher quality races.

It’s a strategy that has reaped dividends already this year with the first 50 tips of 2017 making a 107.4% ROI, following on from a 26.9% ROI from 496 tips made in 2016.

Below is what they have made after subscription fees in the past 12 months (Figures taken from March’s Tipster Profit Report)

Big Race MEeting

Best of all, you can save 50% on the cost of your first months membership with our Tipster Savings.

Whether you follow a big race meeting specialist tipster like this or simply focus and stake more during the major festivals, it a strategy worth serious consideration.

2) Bet At Shorter Odds

Many punters dislike tipsters that tip at short prices because the theory goes that anyone can pick out these tips and make a profit.

To which I say “Well, if its that easy, why aren’t you doing it?”

The reality is most people can’t pick short-priced tips that will win long-term and do need expert help to guide them.

The tips might seem ‘obvious’ but actually making a profit backing short priced favourites is a lot harder than you think.

Yet doing so is especially helpful when it comes to keeping your bookmaker accounts open.

Logically it makes sense as someone who regularly backs winners at 8/11 or 2/1 is never going to raise anywhere near as much concern for a bookie compared to someone who backs winners at 12/1 or 20/1.

The other benefits of this betting include shorter and more manageable losing runs and crucially of all – you can often use much smaller betting banks, thus increasing the bang for your buck!

One tipster showcasing this strategy was first reviewed by us back in September 2015 (SBC Issue 94) and focuses on very short favourites. In the past 12 months alone, they have made a 74.7% betting bank growth despite backing at such short odds.

So the next time someone tells you it’s impossible to make money backing odds-on shots, send them our way!

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3) Don’t Follow Hugely Popular Tipsters

One of the quickest ways to suffer a restricted account is to regularly take a price on tips that rapidly shorten in the market.

I used the example of Hugh Taylor in Part 1 of these articles last week, but it’s not just Hugh and his followers who cause odds to tumble – it can also be any number of tipsters who have large numbers of punters backing their advice. Especially if they are tipping into immature racing markets.

Following such tipsters becomes a battle to get the advised odds and it’s not rare to see a tip put up at 10/1, go into 6/1 in the space of just 20 to 30 minutes.

If you are fast on the draw in these scenarios, you might get a good price, yet at the potential cost of your account being restricted.

It isn’t too difficult for a bookie to run reports looking at those punters beating the odds in this manner and red flag their account for restriction.

Often this kind of restriction will happen EVEN if you don’t make a profit. The bookie notices you constantly beat the odds and that is exactly the customer they don’t want.

Try and focus instead on tipsters where there isn’t a mad panic to get the advised odds as soon as they send out a tip.

Our profit adjustment tables and odds availability ratings will help you identify such tipsters.

Taking the example of the short-odds tipster featured in Point 2 above, below is the difference we found when we compared the odds they quoted with those we tracked in our analysis:

Short odds tipster

To explain this table – to the advised prices, this service makes an average annual profit of £1,055 after fees.

Yet we found that by simply shopping around and taking the best odds 15 minutes after each tip was advised, you could on average enjoy a 2.5% ROI boost.

Making a possible profit difference of £1,940 in your favour!

4) Avoid Tricks Like ‘Each Way Thieving’

10 to 15 years ago, one favoured approach for many a shrewd punter was the ‘Each Way Thieving’ method.

This was where you picked a race with 8 to 9 runners and a strong favourite and backed the 2nd or 3rd favourite each way.

In this scenario, you would get perhaps anywhere between 4/1 and 10/1 on your each way bet (depending how short the favourite was), which would often place to make either a small profit or break-even. On the occasions the favourite didn’t live up to expectations, you would often win and pick up a big priced winner.

The trick of course was to pick the right horses and races to be on, but this method was adopted by many a tipster, including a now defunct service called Winning Racing Tips who used it to great effect.

Why did the service close down?

Well ultimately, Paul, the chap who ran it realised that betting in this manner was now likely to cause more problems that it solved when it came to restrictions. So, whilst on paper it worked, in reality, punters betting in this method were now quickly being restricted and closed down. Paul took the sensible decision to close the service.

My advice is to not just avoid Each Way Thieving but also other similar ‘loopholes’ when betting on racing.

Every bookie is wise to the tricks of the trade and just like arbing, bonus hunting and the like – you often will find your account compromised.

“The Confidence To Make Decent Profits Using Tipsters”…

“I’ve discovered that tipsters who charge enormous amounts don’t necessarily do any better than those who charge moderately….Perhaps most importantly, SBC gave me confidence that it is possible to make decent profits over time by following tipsters.”

As written by’K’- An SBC member for several years

Click here to read more from K on his SBC membership experience

5) Diversify The Sports You Bet On

My final piece of advice is to consider betting on other sports than horse racing and to diversify.

Many bookies these days look upon horse racing as little more than a pain in the backside.

For them it’s a loss leader – a gateway sport if you will, which they use to lure people in with the sole aim to get you playing in their casino, or worse still, throw money away playing their insidious FOBT machines. The last thing they actually want is a genuine horse racing customer!

Those of you who bet solely on racing (and who don’t fall prey to the charms of their casino or other mug bets) are viewed with suspicion.

The best approach is to bet on other sports, which also offer great returns without the risk of restriction.

To illustrate this, below you can find the historical annual profits from the top 7 sports tipsters as taken from our March 2017 Tipster Profit Report.

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Each is more than doubling their money over the course of an average year with between £2,254 and £3,606 profit from a £2000 bank (You can of course with smaller sums if you prefer!)

MAKE MONEY BETTING WITH TIPSTERS

I do hope that over the course of these emails, I have helped guide you through the options available to you as a keen punter both on Betfair and with the Bookmakers.

In an ideal world, bookmakers would act honourably and simply take bets from all punters – not just the losers but as we all know these days, most bookies treat their ‘non-losing’ customers with disdain.

Therefore we need to be shrewd and bet according to the state of the betting world we operate in.

Finding the best tipsters is the easy part (simply use our tipster ratings) but making sure you are able to make a sustainable long-term profit requires a bit more attention.

Which is where we can help at the Smart Betting Club as our ratings, reviews and reports help identity the best, fairest tipsters for sustainable profits.

<< JOIN THE Smart Betting Club TODAY >>

See you on the inside.

Peter Ling
SBC Editor

“90-DAY 100% SATISFACTION MONEY BACK GUARANTEE”……

“I believe so strongly in SBC’s ability to help your betting, you can subscribe with a 100% cast-iron 90-day money back guarantee”.
SBC Editor – Peter Ling     Subscribe Now

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Restricted By The Bookies? 10 Expert Betting Exchange Tips (Part 2)

Posted on by Peter Ling

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Today, I am continuing with Part 2 of my guide to using the betting exchanges to maximise your racing profits

If you missed Part 1 on this subject, you can read my first 5 betting exchange tips here

OK, back to business with Tips 6 through to 10…

6) Don’t Bet If The Value Has Gone

Although it’s down as point 6, in actual fact it is one of the most fundamentally important points to consider when betting full stop: VALUE.

All successful punting is based on the concept of value betting – the fact that the odds for any particular bet are priced in your favour. The odds you take on a bet really matter.

If you can get 5/1 on a horse that should be 4/1, then you have a strong value bet.

Yet if the same tipped up horse at 4/1 is only available at 3/1 – the opposite applies.

If you constantly are taking too short a price on a horse, you will lose money.

Which is why it’s important to ONLY bet if the value is still there.

Many good tipsters recognise this and put up their minimum value odds to make you aware of where the value cut-off point actually lies.

They recognise that a tip might see market support and if it does, you know where to draw the line.

If restricted to exchange betting, look out for this and stick to the minimum value thresholds – they are there for a reason and they will guide you as to the prices to take.

And whatever you do – never feel obliged to place a bet regardless the price. The next value bet will be along before you know it. Feeling you NEED to have a bet for the sake of it is not healthy for you or your bank balance!

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7) Recognise You Will Win Some, Lose Some

Mindful of the need to take a value price, if exchange betting you must accept that sometimes you will miss out on a bet if the odds are too low.

Yet on the flipside, you might also get BETTER odds on other bets when the odds drift.

Whilst on occasions, you might miss out on a winning bet because you can’t get the right odds, on other occasions you will enjoy a bigger payout through this strategy.

If and when this happens, remember the logic behind it all and try to be as phlegmatic as possible.

All gamblers HATE missing out on winning bets, especially if they feel they should have been on it, yet they very rarely remember the times they missed out on a bet that lost.

My suggestion here is to consider keeping a record of each occasion you miss out on a bet (both winners and losers) or get a greater value price than you might have originally. Through this, you can track the ups and downs and see at a glance exactly how you have fared overall.

“I Like That SBC Is Independent”…

““I like that the SBC is independent. I know that when they recommend a tipster, or upgrade or downgrade an existing rating, that their opinion is based on results and judgement, not on hidden commissions.”    
As written by ‘K’ – SBC member

Click here to read more from K on his SBC membership experience

8) Don’t Worry About Drifters

Flowing on from this last point – don’t also get too bogged down by the idea that a ‘drifter’ (a horse whose odds get bigger as the race draws nearer) is no longer worth backing.

Racing pundits like to bang on about horses being weak or friendless in a market, yet the reality is they have no idea if this market move is significant or not.  They are often just filling airtime.

If market support was so telling – everyone would simply lump on a horse at the first sign of it being backed in.

Unless there is clear evidence a horse has something wrong with it before a race, don’t be unperturbed by backing a ‘drifting’ bet.

Look at it instead as a chance to get better value. If you can get 10/1 about a tip advised as value at 6/1 earlier in the day – take it!

After all, unless the horse in question has a major problem – if a tipster you trust said that 6/1 is a value price, then 10/1 will represent a massive increase.

 

9) Can’t Get Matched Straight Away? Put In A Request

If you can’t get on a bet earlier in the day at a value price, you might also like to consider putting in a request to get matched on the exchanges later on that day.

There are two ways you can do this – requesting a price pre-race and also in-play.

Pre-race betting is easy – you set the odds you want to take and put the request into the market to hopefully be matched. If come the start of the race it isn’t matched, the bet is cancelled.

Putting a bet in the in-play market is different as it ensures the bet will also remain available throughout the race as it takes place.

When doing this, it’s important to be aware that you will ALWAYS be matched in-play on any bet that loses the race BUT there is no guarantee you will be matched on a winner.

Therefore, you do have to approach in-play betting with caution and it is best when used in conjunction with watching a race live and an understanding of racing in general.

You also might only want to leave a bet to be matched in-play, when the odds pre-race are very close to those you wish to take OR perhaps risking only half stakes.

Equally if you have a good knowledge of racing, you might want to make judgements based on the competitiveness of each race, the merits of each horse (does it prefer setting the pace or being a backmarker) and the distance run.

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10) Don’t Limit Yourself To Just Betfair

When most punters think of betting exchanges, they immediately think of Betfair, which is only natural as they were the original and now biggest exchange.

These days, Betfair do standout for another reason – they charge a higher commission rate then many of their rivals.

Betfair’s base rate starts at 5% commission on all bets – a sum that does decrease but only once you place a significant number of bets with them.

Instead I recommend you open and use accounts with 2 exchange rivals: Smarkets & Matchbook – both of whom charge much lower commission rates. Smarkets for example charge a flat 2% commission on all bets.

This 3% difference might not sound like a lot but it really does all up over time.

Another alternative option is also Betdaq, although their commission rate also starts at 5%.

My suggestion therefore when exchange betting is to try and place your bet with either Smarkets or Matchbook first.

Usually you will be able to obtain identical odds to those on Betfair, yet you lose less in your winnings to commission.

MAKE MONEY BETTING WITH TIPSTERS

I do hope over the course of this 2-part guide I have helped provide some answers to questions you might have about betting on the exchanges.

If you are looking for further assistance with your racing betting (or just betting in general) then you might like to consider a Smart Betting Club membership.

We track hundreds of tipsters each day in order to independently report back on the best experts that can realistically make money betting – whether on the exchanges or with the bookies.

So why not join up today and see how we can help you and your betting.


<< JOIN THE Smart Betting Club TODAY >>

See you on the inside.

Peter Ling
SBC Editor

“90-DAY 100% SATISFACTION MONEY BACK GUARANTEE”……

“I believe so strongly in SBC’s ability to help your betting, you can subscribe with a 100% cast-iron 90-day money back guarantee”.
SBC Editor – Peter Ling     Subscribe Now

pete

Restricted By The Bookies? 10 Expert Betting Exchange Tips (Part 1)

Posted on by Peter Ling


It is common knowledge these days that if making money betting on horse racing, you will at some point encounter difficulty with either your stakes being restricted or even your bookmaker account being closed.

There are some exceptions to this rule such as the ‘winners welcome’ firm, Black Type and it’s fair to say that each bookmaker approaches it differently (as outlined in our ‘Getting On’ Report last September).

Yet for many punters, one of the most popular places to bet without issue are the betting exchanges.

Which is why I have put together this 2-part guide, featuring 10 betting exchange tips for following racing tipsters.

 

1) Understand When The Money Hits Racing Exchange Markets

As an exchange-only racing punter, it’s important to understand that the vast majority of money only starts to flow into most racing markets approximately 10 to 15 minutes before the off.

(I say most as there are some obvious exceptions such as at Cheltenham or other big race meetings, which will see larger sums traded earlier)

To showcase this, compare the amount of money traded on Betfair for each of these 5 races that took place on Monday the 27th March 2017.

I simply noted down the amount of money traded at 3 time points: 21 minutes, 11 minutes and 1 minute before the off for each of the 5 races.

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Without exception, the most trading took place in the 11 minutes before each race started.

Take the 4.30pm race as one example – at 4.19pm, there was £60,925 traded yet come 4.29pm, this was £495,057.

Within 10 minutes an extra £434,132 had been traded – 87% of the entire market!

The knock-on effect of this is two-fold.

Firstly, its knowing that the majority of trading takes place and when your exchange bet is most likely to be matched.

Secondly, its understanding that prior to the final 10 minutes, it is harder to get your racing bet accepted, especially if it’s based on advice coming from a popular tipster.

 

2) Avoid Tipsters That Advise Bets Early

Just as the final 10 minutes leading up to race time sees most of the action on the exchanges, the very early stages of a racing market see very little activity indeed.

All of which makes understanding how far in advance a tipster puts up a bet crucial, because as a general rule – the earlier a tip is put up, the harder it is to get the advised price (and vice versa)

Tipsters who advise tips the evening before racing, often provide you with next to no chance of following if restricted to using the exchanges only.

To give an example, I currently proof one racing tipster that puts up bets around 6pm the evening before racing.

As I write this article I noted they had just put forward a tip at 6/1 for a race at 3.20pm the following day. Immediately jumping to the Betfair market for this race, I found that just £492 had been matched across all 10 runners in this race at that point.

The advised 6/1 price was now as short as 5.1 (4/1) on the exchange so already the value had to a large part disappeared. Obviously a few punters following this tipster had gobbled up what little money there was to be had at 6/1.

It’s a scenario I have seen unfold countless times with this tipster (and it’s the main reason we have not recommended them to SBC members) and they are patently unsuitable to an exchange-only punter.

Yet they are not alone in tipping up so early in advance of a race – so be very careful to avoid such tipsters if limited to exchanges only.

“I have made around 20k per year extra”…

“I used to work as trader for Paddypower and Sportsbet so i have an obvious interest in betting. [Using Tipsters] I have made around 20k per year extra.”    
As written by Justin – An SBC member since December 2013

Click here to read more from Justin on his SBC membership experience

3) Focus On Tipsters Where The Odds Hold Up

The next point is an obvious one – if using exchanges, don’t follow tipsters where the advised odds are going to get smashed in.

Take for example a free tipster like Hugh Taylor. As soon as he puts up a tip, hundreds of people rush to bet on it and in turn the bookies slash the odds due to the huge volume of money coming in.

Yet, despite this, Hugh still settles his bets at the original advised price he quotes, which only a very small number of punters will have realistically obtained.

In this scenario, there is next to no chance you will get matched on his tips at this price via the exchanges UNLESS the price bounces back. And given how much his odds move downwards, this is highly unlikely to happen too often.

This is why here at SBC we rate all tipsters by ‘odds availability’ and track how their odds move compared to the results they settle to. It helps to identify tipsters you can use on the exchanges.

Take the odds tracking we performed on one tipster first reviewed in November 2016. We tracked over 100 tips and how their advised prices moved immediately and after 15 and 60 minutes had elapsed.

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As the table indicates – the average odds available after 0, 15 and 60 minutes were better than those the tipster was quoting!

Why exactly was this? Well, it went down to the simple fact this tipster was only quoting a price if AT LEAST 3 proper bookmakers were offering it and wasn’t putting the tips up until around midday.

Effectively, you could improve on the quoted odds and ultimately this is exactly the type of tipster you can follow on the exchanges.

4) Consider Betfair SP Tipsters

One of the simplest angles to make a profit on the exchanges is by following tipsters that make a profit at Betfair SP (after commission of course!).

They offer the easiest, most simple approach as once a tip comes in – you simply place the bet, stick in your stake at Betfair and walk away.

Although the number of profitable Betfair SP tipsters is growing, it’s still a fairly small pool to choose from currently.

Alongside All Weather Profits (read all about them and their £1 30 day trial here) I have recently been investigating another racing tipster with a tremendous track-record at Betfair SP.

Over the course of 1092 bets – at simple 1 point level stakes, they have made a 167.3 point profit at 15.3% ROI. This is after 5% Betfair SP commission has been deducted.

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Providing one simple angle for those of you after a simple exchange tipster for you follow.

5) YET…If You Can, Don’t Always Take Betfair SP!

Whilst the Betfair SP angle does work and is good for those of you short of time – you can often get better prices simply by taking a bet on the exchanges closer to the off rather than just Betfair SP – especially when it comes to a popular tipster.

This is because the more people that bet on a horse at Betfair SP, the greater the chance that the final Betfair SP odds will be shorter than they should be. Betfair SP effectively cannabilises itself.

Therefore, if following a ‘Betfair SP’ tipster, my suggestion for optimal profits is to consider placing a bet in the traditional exchange market before the race starts.

This might require you logging onto the exchange in the 15 minutes before the race and simply taking the best price available at this time.

By doing this, you can often get a better edge than simply taking Betfair SP.

 

MAKE MONEY WITH TIPSTERS

That’s my first 5 tips done and dusted and I will be back in a few days with 5 more pointers on how to use the exchanges if following tipsters.

In the interim, if you are interested in discovering more on the best tipsters for use on both betting exchanges and with bookmakers, then the Smart Betting Club is here to help you.

Our uniquely detailed reviews, ratings and recommendations will showcase to you the best tipsters across a whole variety of categories including:

  • The Best Horse Racing Tipsters
  • The Best Sports Tipsters
  • The Best Free Tipsters
  • The Best ‘Odds Availability’ Tipsters
  • The Best Betting Bank Growth Tipsters
  • & Much More Besides!

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See you on the inside.

Peter Ling
SBC Editor