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Pete Thomson is achieving a consistent 36.7% return on investment (profit), with no losing months and winners at odds as high as 20/1!
The overall strike-rate is outstanding with nap tips winning 47.5% of the time, next best 36.6% and 3rd best at 30.7%. With outsiders, he’s doing even better and the ROI on these bets is a staggering 62.2%!
Most importantly of all, he records all wins and losses, in an Excel profit & loss table which can be accessed from his website at any time.
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Bankroll Management
Regardless of the method you use to pick your winners, Â all horse racing betting strategies must incorporate proper bankroll management to have any chance of success. So, what is bankroll management and how can you learn how to use it effectively?
Bankroll management is about reducing your risk of ruin – that is the bankroll being depleted to zero, because you went on a losing streak. Losing streaks happen to everybody, even professional gamblers with many years of profitable betting behind them.
They will understand that losing streaks are inevitable and take them in their stride. They will also be employing a proper bankroll management strategy to overcome these downswings. They know that, because over a long period of time their bets are profitable, a long upswing will happen at some point in the near future.
Bet Sizing
Regardless of whether your bankroll is just £100, or £100,000, without correctly sizing your bets you are at risk of going broke. Let’s assume that you have £500. How big should your bets be?
This very much depends on the prices of the horses that you are backing. If you are someone who backs short-priced horses, then the percentage of your bankroll that you can bet will be relatively high – but probably not as high as you would imagine.
If you are always backing horses that are around 5/1, then you can make bets of around 1-2% of your bankroll. Even with such low-priced horses, you can regularly expect to go on losing streaks of 20 races or more. That would be 40% of your bankroll gone, if you made 20 losing £10 bets.
If you are someone who looks for value on big-priced horses, then your bet sizing has to be much smaller. If your average price is 20/1, then you should make bets of no more than £2 with a bankroll of £500. Not picking a winner in 100 races straight can happen much more than you think.
For many people, though, their is no typical price that they bet on. They might back an even-money favourite in one race and a 33/1 outsider in the next. If you make bets at a wide variety of prices, then it is best to look at expected winnings from each bet. Size your bets so that when you win your return is 5% of your bankroll.
Starting With A £500 Betting Bankroll
With a £500 bankroll, this means betting £4 on a 5/1 shot, as your return would be £25. However, if the horse was priced at 25/1, you should only bet £1. With either bet, your return would be roughly the same.
A lot of people will read this and think that this strategy is over cautious. Do not fall into this trap or it is very likely that you will go broke. All winning bettors practice sound bankroll management.