Forget each way betting. There is a much better way to back a horse not to win, which does not involve laying, and profit consistently.
As every punter knows, each way betting on a horse means you are actually placing two bets. A win bet and a place bet. And the bookmaker pays you at just a fraction of the horse’s odds if it does not win but does place. This is generally at one fifth of the odds for the place though can differ depending on the number of runners and type of race.
For our purposes, we’ll assume a ten runner race which is not a handicap. In the UK the bookmakers’ terms for each way betting are one fifth the odds. So, you must back a horse each way at odds of at least five to one to break even on the bet if it does not win but does finish second or third.
If it wins – great! You’re in clover. But it’s hard to pick 5/1 winners on a remotely regular basis. If it wasn’t we’d all be rich…..!
This is where place betting comes in. You can back any horse simply to place only. And this means placing only one bet, not two as in each way betting. You’d never back a horse at 2/1 each way or you’d be taking a big loss if it did not win or just placed.
You can back a horse at 2/1 to place only (think about how many horse at this sort of price are beaten but do still place) and if you use the wonders of the betting exchanges such as Betfair you can generally enjoy higher odds.
For example a horse with a price of 6/4 to win would be generally around 1.70 or so just to place. For your £10 to place you’d have a profit of £7. Yes, that’s an odds-on bet but how many times out of ten do you think you can pick a horse to place? Even if you’re right just two times out of three you’re in profit.
And if you take a systematic approach you can zero in on the “right” kind of races where only a few horses have any chance of making the frame. Yes, a place betting system can enhance your strike rate and returns even more.
I strongly suggest you get in to place betting.
PLEASE CLICK HERE TO SEE WHY PLACE ONLY BETTING IS THE WAY TO GO