The overlay approach I was using previously i stopped using. Mainly because i wasn't being disciplined enough with it and wasn't keeping track properly of my bets so it was a fruitless exercise in the end.
I think the overlay method is something I definitely need to incorporate into my betting in the future, but its just not something i'm using at the moment. Using overlays to manage bankroll is certainly a step in the right direction IMO. I also like the idea of betting to win 5% of bankroll as Bhwaghan suggested.
Hopefully once I finish up with this NBA stuff I can put my focus back on the horse racing side of things and look at some additional bankroll and betting options. Betting to overlays is a bit difficult for me as I don't have the markets open infront of me due to working. So my initial thoughts is something like betting to win 5% of bankroll based on my calculdated odds (using my ratings).
So I might rate something a $2.50 chance with a bankroll of $200 it would be a $4 bet. However the odds of the horse on the TAB might be $5.50 so essentially i'd be winning more. Of course the reverse holds true, that a $5 fave on my ratings would be a $2 bet but may only be paying $1.50 on TAB. Essentially with this method i'm backing my ratings to help me put the most money on my best rated changes.
Another option that a friend of mine is exploring using my ratings is to adjust the staking size on a number of factors. So he bets every single one of my top raters in qualifying races (fields of 8+ and of good quality) and adjusts the stake based on factors. For instance we went through all my data and collated various statistics to see where my ratings performed best.
So he has his initial stake at $9, his maximum bet is $15 and minimum is $3. He adjusts the $9 stake by using percentages based on the following factors:
Day of week
Venue
Race Number
Saddlecloth Number
Conditions
there are some others but I can't think of them from top of my head right now. So essentially he might be betting $15 bets on a sunday at any VR races etc etc as its shown historically to be more profitable with those factors.
Anyhow just thought i'd outline some ideas i've got floating in my head at the moment.
