The early days
I have had an account at an online betting exhange for about 5 years now, The first year for me was a distaster - It is so easy to transfer funds in and out of a betting account (all this from a computer) it didnt't seem as though I was using real money. I was heavily influenced by the so called experts, this was such a frustrating time. I would research a horse that I thought would be a good investment, then ignore my own advice and waste money backing a horse that I hadn't considered just because "a blokle on the telly" said "this horse looks as though he is here to win." the horse that the pundit suggested trots in midfield with several excuses made by the tipster, this would happen time and time again. Now I am blinkered (pun) in my approach, but I still use resources elsewhere to confirm a bet - but not from a bloke on the telly.Which races not to bet on
For me, there are many different types of races that I keep well away from for varying reasons.
The type of race I completely disregard (this removes half of the available races) is jump races, both hurdles and chasing. This is one part toward removing the gamble - it seems an obvious thing to say but with jump racing your chosen horse not only has to finish ahead of the other beasts but negotiate an obstacle course, not for me I'm afraid.
Banded racing is another biggy to avoid, these are sometimes called bandit races - the horses that participate are usually one step away from becoming cat food, bad horses running against bad horses.
Claiming and selling races are also given a miss as in my opinion these can be open to the odd trainer/owner coup. The weight of the horse comes into play here (claiming races) as the heavier the horse the higher the value of the horse.Which races to concetrate on.
The ideal sceanrio for spotting a good place bet is using simple mathematics. An 8 horse race (3 to place) is perfect. Your chosen horse has only to beat 5 horses home for you to be successful with your place bet. This makes perfect sense to me. If you were to throw a dart into the race card, ignoring the odds, you would have a 37.5% chance of picking a horse that would finish in the top 3.
I wouldn't even consider a race with 15 runners - the maximum number of runners I would be interested in is 11.
In the next post I will describe how I use the betting the exchanges and how much money needed for a betting bank