There are an number of items available on this subject & there is a definite art in trying to make it profitable .

They all say how straight forward it is, but it is not as easy as they may claim, because the fractional amounts being targeted can be wiped out in one bad discision.

Here is a method that I have found to be fairly consistant.
Using the Smart trader option on Fairbot which makes a profit wheather the horse wins or looses.

For Aust racing
Target horses priced between $4.00-5.50
7min till jump.
I always make the Lay bet first at 1 tick less than the Blue win price, then wait to see if it gets matched . e.g. Win price is $4.10 , make your requested lay price $4.00 then press enter.

I am going for a 2 tick difference which can be adjusted in the box at the top of the Fairbot programm.

If the lay bet gets taken up, the Trading program then automaticly places the win bet & if the price we are asking finally gets taken up, we will have locked in a profit of approx 3-5% Profit guaranteed whether it wins or looses.

If the win price goes against us, the trading warning signal starts flashing red.
I then press the hedging button which sends off a bet to minimise the loss of approx 3-5% .

I find there is a lot more leeway to be had targeting horses priced between $4.00-5.50 & more chance of securing ones match ups.

There usually is approx 1-2 horses most races to target so I will bet both.
If there are none in the race , its a no bet race.
Once a match has been secured, there is no more betting on that race.
It seems to be very consistant.

It is important to try & start the process approx 7 min out from jump time.
Otherewise it is too hard to get matched say 1-2 mins out from jump time.

One can always cancell the bet if our initial lay bet does not get taken up say 3 min to jump time.

Its very much a waiting game & it usually pays off.

It would be interesting to see what other Trading ideas that some of you have come accross & would'nt mind sharing.

Cheers.

__________________
Cheers.

Thanks for those tips, i have only just got fairbot and have been playing with some of the options.

Bgahwan.

Have you ever used my "Lay " method .

1000 - 1100 M

Fav

Must be a Backmarker.

Cheers.
darky.

I've found that low liquidity races such as USA, Aus, South Africa, in the longrun, you are better backing first as the price goes south more often.

I would advise new traders to pick horses to trade which aren't favourite to get practice. Usually third or fourth favourite. It's easier to read the direction it's going and less wild swings.

But trading can be stressful, disheartening and difficult to read.

I gave it up as a strategy, and only use it when I have layed too high or backed too low.

It's a lot harder than Adam Todd or Peter Webb would have you believe, reality is quite different to pre recorded select races.

Good luck if you have a go though.

__________________
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Can you explain the hedging part if the price goes against us we need to dutch all for the win? correct

You divide your profit or loss on one horse by it's current price and place a lay bet for that amount, which distributes your profit or loss amongst the field.

__________________
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Now with over 400,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 30/04/2024
Video overview of RaceCensus here:
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I am trying to under stand this, say i lay a runner for $100@$4.00 and i then try to back it at say $4.20 but the price firms in to $3.80 this would leave me with a $20.00 loss if i backed it.

Can you show me an example of how to get out of this.


P.S. Never mind i think i worked it out, it reduces your loss by about 25%

P.S.S Would i be correct in saying if i had the back first and couldn't get the lay that i would dutch back all the other runners.

Hi Shaun.
We are trading here (making Win & Lay bets on the same horse) , not Dutching, thats a different thing.

When trading...
I always make sure the bet conformation box is ticked, that way when one hits the Fairbot hedging button , one can see what the profit or loss will be if one decides to go ahead with the hedge bet.

The Hedge button may tell you that a -0.05c loss will be had on the race if its pressed.
This is better that say a $15 loss if it should go against you.
This is a very handy feature.

If one presses the Trading information section on the RHS
It lists all traded bet & lay transactions & if the Stop Loss option is ticked on the bottom RHS , the bet exposed to making a loss will start flashing red.
One then hits the flashing red horse, then hit Stop Loss,
It will then send off a bet to minimise ones exposed risk to a few cents loss.

Its a beautiful thing.

Thanks for your observations Chrom , I will check that one out.

As Chrom says, its not as easy as those chaps make out.
I find the first bet is the easiest, it then becomes harder repeating the same proceedure on the same horse.
One slip & all ones profit can be gone.
That's why I do it just once per horse, if possible.
It's reel nickel & dime stuff done many, many times to scratch a quid, but I still find it fascinating.

Hi Darky,
Thanks for that.
I forgot all about that one , is the backmarker info sorted from the Sportsman or is there an online source available .
The general idea looks brilliant.
Could you refresh my lapsing memory please.

Cheers.

__________________
Cheers.

I was using Betrader Pro till Baghwan and ChromePrince mentioned Fairbot. After the trial period I've happily paid for the Registered version. The Binteko Customer Service is good too. I asked if it's possible they could add the matched amount per runner/entry on the front panel(like BetTraderPro), instead of clicking to open the screen with that info. They responded fast and said 'yes, good, it'll be in the next version'! (Whenever that is).

On the UK races I back/lay early then hope for the Hedge, and green up as often as I can, even if it's small amounts.

I'm also at times laying a vulnerable favorite, and backing it for place, hoping for the 'double collect' if it runs 2nd/3rd.
The basics still hold true though. Do the form, find the risk/value.

But that's horse racing. Huge trading can be done on Tennis matches, snooker etc etc. I'm currently reading a book called 'the definitve guide to betting exchanges', written by the RacingPost team. There's a chapter on each main sport by a different writer. The statistics some pros keep on e.g Golf Players, to help make their play, makes you realise there are many serious players out there against you.

Anyway gotta go now, ManUnited-Barcelona trade beckons!

To work out the liabilities , covert all prices to fractional odds, this is what bookmakers do.
Then divide ones exposure amount by the fractional odds.
e.g.
Say Lay $100 @ $4.00 (3/1) = $300 Liability (Pink side)
Say you wish to close out of this trade & win price is $3.80 (2.8/1) (Blue side)

We divide the $300 liability(Pink) by 2.8/1(Blue) = O/L 107.14 Blue
We bet $107.14 O/L on the Blue side

If the horse Wins, Ret $299.99w(Blue) -300L(Pink) = -$0.01 loss.
Approx break even % on the race if horse wins.

If horse Falls over, Ret $100 from lay bet (Pink) - 107.14 O/L (Lost-Blue)
= -$7.14
Approx -6.70% loss on race, if horse falls over

The exposure of Lay risk has been reduced from -$300 Liability
(your pay out amnt), if horse wins instead of falling over, down to just -1c if the horse should win.

It's enough to do ones nut in it is , but once one plays around with it a couple of thousand times , it starts to take shape in our brains.

Cheers.

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Cheers.