“You can’t make money backing favourites”
…Or so goes the famous phrase favoured by many in the betting world on the notion that it’s only mugs who bet at short prices.
Yet the reality is that betting (like most things in life) is not quite so black and white and you can make money backing favourites…as long as you back the right ones…
The right favourites – such as those put forward by the ‘myth-busting’ racing tipster featured in SBC Magazine (Issue 104) who has made a fine profit backing short horses.
Our review of this tipster found that over the course of 1676 bets advised over 2 and a bit years, he had made a baseline profit of 5% Return on Investment (ROI).
For those who prefer to concentrate on Return on Capital (ROC) this equated to a figure of 140% over the same period.
To put that into easy to understand financial figures…
- A £1000 starting betting bank would have grown to £2,400.
- A £5000 starting betting bank would have grown to £12,000.
- A £10000 starting betting bank would have grown to £24,000.
And best of all – solely from backing favourites.
Although it’s fair to point out that it’s not always the favourite he tips up, but sometimes also the second favourite – in general it’s selections 5/2 and below at the front of the market
Ultimately – the saying “You can’t make money backing favourites” should really read “You can’t make money backing bad value favourites” as therein lies the difference between making a profit or loss betting.
If you are taking 9/4 on a bet that should be 6/4, long-term you will make a profit. Just as you might taking 20/1 about a bet that should be 10/1.
So, the next time someone tells you that backing favourites is a mugs game…you know what to say!
Major Benefits Of Backing Favourites
There are also some very important additional benefits from backing favourites to be aware of – here are 4 of the most relevant:
1. It’s easy to improve profits with Best Odds Guaranteed offers
I used the word ‘baseline profits’ when discussing the tipster above as the reality is that you can easily improve the profit figures if you have access to the Best Odds Guarantee concession in your bookmaker account.
We equated the potential to improve your ROI by as much as 5.4% simply by using Best Odds Guarantee offers.
As many as 40% of all bets drifted after being advised by this tipster and were therefore subject to a better price if taking Best Odds Guaranteed.
2. Hit a high strike-rate – easier on you mentally
If you are one of those punters who struggle when facing a losing run, then a short priced tipster might be the right answer for you. After all – not everyone is cut out to handle low strike-rates, nor have the patience to wait for the winners to hit home.
This favourite-backing tipster has a high strike-rate of 43.1% from the 1676 bets with 723 winners and 953 losers during this period.
Ensuring in general, short losing runs and a regular supply of winners to put your mind at rest!
3. You can get on with the bookies – even if you win
Perhaps best of all, favourites are very easy to bet with the bookies as they know most punters backing them will be long-term losers.
Your betting account might show a fair profit but when they see its from backing horses at 5/2 and under – they will often assume that in time you will lose and you have been lucky thus far. Even if you are chucking £100, £200 (or more) on these tips to win.
Making backing short priced tips such as those advised by this tipster ideal for those of you worried about betting restrictions. It’s just a fact that if you are backing 2/1 winners instead of 20/1 winners, your betting account is much more likely to go un-restricted.
4. A genuine betting-exchange option
Even if you can no longer bet with bookmakers, this favourite tipster is very easy to follow on the betting exchanges.
Our analysis found that you can actually IMPROVE your profits by as much as 1.1% ROI by simply taking better odds available 15 minutes after the tips are advised.
At the time these tips are put forward (10am) there is also considerable money available to trade on all betting exchanges and we found no issues getting our bets matched on these favourites.
So, if you are limited to betting with exchanges like Betfair, Smarkets, Betdaq or Matchbook, it’s a very valid option for you.
Read All About It In SBC 104
If you want to know more about this tipster and the profits he has made backing favourites you can read the detailed SBC review in SBC magazine – Issue 104.
Inside the review you can also find details on how you can save 25% on the cost of joining this tipster as an SBC member.
See you on the inside.
Smart Betting Club Editor