Bert - If you have a look at my bets above you can see how I got to 1150 loss. After that $3.70 bet (unfortunately I do not have Austext so was relying on Unitab internet site for that race) the bets were 8, 17, 18, 38, 54, 33, 60, 114, 119, 180, 180 and 165 - most of the damage was in those last Belmont races.

Lambrussa - Yes Bert's system does require you to increase bet size as your losing streak continues (basically you are always aiming to win back what you have lost plus $5. So if you are down $500 and the next runner is a $10 chance you would be betting around $56, if it is a $5 chance you need to bet $102 - this is where you get into serious trouble very quickly if you have a long losing streak.

Basically as I see it the system is simply based on having a large enough number of selections each day that you are almost certain to have at least one win, combined with a low goal so your first bets are small (stops things getting out of hand too quick), a large bank to cover your losing streak, and balls the size of a bull to keep increasing your bet when you are losing big time. The staking/target plan is nothing special (any person with a knowledge of Excel could knock that up in a few hours) so you are really just paying for the selections - and as you say they don't look like anything special.

My advice is to save your money - if you really like the sound of the system then work up your own spreadsheet for the target betting and put in your own selections. But I wouldn't do it because any increasing staking plan with no limits is just too dangerous.