If you had layed Grand Palais with real money of $10 and at the odds stated in your post, then only $95 would have been deducted from your account.

The formula is Stake X Odds, less the stake.

Your calcs on Sequinella are correct.

Totally destroyed on the last couple races haha

Good try

You need an angle. You can't do it just on price in Australia.

__________________
Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

Pengo, it is not the horses you are picking, it is the odds and staking.

You have had your biggest lay at 29% over TAB odds plus commission that's 34% over TAB odds.

You can go up and down the market picking shorties, mid-priced, longshots, horses you don't think will win etc. but the reality is that your staking is waiting for disaster and your odds ensure you'll lose.

Would you back an even money favourite at $1.54 on Betfair when it's $2.00 with the TAB, essentially this is what you are doing.

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I'm thinking maidens, make a shortlist of horses that have run 8 or more races and not placed. They will be longshots but the idea is that if they were going to do anything they would have done so by now.

Of course, but if you select a horse that wins, its got nothing to do with staking or odds.. You'll still lose regardless what odds or stakes you put...

All the odds or staking does is limit the potential losses on the bank. I was going for broke, and I got what I was going for. Plus its just monopoly money And I was going on price, putting my faith in the market doing the work for me. So price would tell me what isn't likely to win.

If I limited my liabilities to no more than 5% of the bank, I'd still be alive, but again I was going for broke and trying to make back the bank quickly.

My next exercise will be maidens, and I will limit the bank to about 20% this time.

Well that's a start. What you really want is what I call the "hopeful" horses. Those that have a little bit of support in a race where alot of the money has gone elsewhere. You'll find that many of these are "not quite right". They're generally around the $5-$11 mark. Remember only one other horse needs to beat them.

Really stay away from the longies. I wasn't going to work today but have. I've layed 18 for 2 accidents. My average matched price is $6.61. I've only layed one in double figures, and that was at my max of $11.00. It lost. There's plenty of chances below $10. You just need to do a bit of work to find them.

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Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

Would u say FRENCH FRIARS is a hopeful?

But that's what I'm trying to explain, you are looking at the fact that you lost one bet, not why you lost most of your hypothetical bank.

Pengo, at least try this if you're going to take any old odds....

Lay the horse for a win for one unit.
Back the horse for the place for two units.

That horse wins and you lose around 7 units instead of 11 units
That horse just runs a place you lose 4 units
That horse runs unplaced you win one unit.

Maximum win 1 unit
Maximum loss 7 units.

$7.00 TAB $8.50

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Maybe but it's at Ascot. I can't lay in WA so I've not bothered to look.

__________________
Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash