I have been following another of my systems. This one I bet 2 horses a race to make a $50 profit, but at the moment it'd showing a loss of $39. However, I do believe it will come good soon.

I've been using this excel formula to work out my bets on each horse.

(39+50)/2.40

39 is the amt lost
50 is the target


The losses are added to the target.

any suggestions.

Target betting is another way of chasing loses. Long term it never works.
The best bet is to improve your odds or increase you strike rate by improving your selection process. Try to ignore bad races to bet on. If you can find more than 3 races on a card to bet on, you have found too many.

Is the formula correct.

You may like to try this Benny.

.Target 10 runners & less.
This offers the best SR & lower runs of outs when it comes to 1st & 2nd Favs.
Any more than 10 & you will experience a number of consecutive runs of outs & that's bad for Dutching due to the low odds we are working with.

.Target 1st & 2nd Favs.

.No races with odds on Favs.

.Look at the 4th Fav.
-If its showing say 7.00
Bet to win 7.00 on the top 2 Favs.

-If its showing say 20.00
Bet to win 20.00 on the top 2 Favs.


20.00 is the max we go for even if the 4th fav is showing say 38.00.

We do not use a recovery.

The idea here is that we are assuming, that higher the price of the 4th fav, the greater the chance of the top 2 favs of getting up , therefore more should be bet on them to win.

I have found that it usually shows a profit most days if you know when to stop.

I try & target races where the Fav is around 3.00+
We are trying for a book value around 55% & less, any more & its a no bet race.
This means I let a number of races go.
I would only use Betfair for this exercise so as to lock in the price.

We are hoping for a 50%+ SR to show a profit & it usually does.

Cheers.

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Cheers.