IS THERE VALUE IN PLACE BETTING?
This is a question I am often asked by visitors to this website.
Everything is relative in this life and for most punters the goal from betting on horse racing is to try get a big return, irrespective of the risk. It seems punters prefer to place bets with a high potential return rather than bets with low risk but relatively low returns.
Below is a link to an American scietific study titled "Efficiency of the Market for Racetrack betting".
This paper explains a technical system for place and show betting which demonstrates market inefficiency that can produce substantial positive profits. In Amercia "place" betting is to run first or second while "show" betting relates to running in the first three. While this study is US based I think it is relevant for the Australian market.
In Australia one way to add value to place betting is to couple up several selections for a place with an online bookmaker such as IAS, Sportingbet or Sportsbet.
If you are only a small punter and are interested in punting this way then I suggest you look at opening an account with Sportingbet.
Sportingbet only allows you to couple up to a maximum of 4 runners in a multi bet but as long as the four horses run a place (if backed for a place of course) then Sportingbet pays a bonus of a $20 free bet. (The conditions are that the stake has to be a minimum of $10 and the total return must be 60% - for example for a $10 stake you need to get a return of $16 or more to get the $20 free bet from Sportingbet.
| Place Betting On Horses with My Mathematical Formula: This ebook includes horse racing software spreadsheets configured for use with a sequence of 5, 6, 7, 10, 10, 12, 15 and 20 selections.
A sequence of just 5 placed selections with an original $50 stake at odds of, for example, $1.50, $1.40, $1.40 $1.70 and $1.80 will return after the fifth selection is placed $1,182.45.
Click here for more information on this product.