Hello dear readers,
Firstly, let me offer my sincere apologies for neglecting you this week. I have been literally snowed under with my betting activites and simply haven’t managed to carve out the time to lavish you with the attention you deserve in the form of an earlier post. I intend to put that right today with a really useful multi part post that I hope you will all enjoy (and find instructive with any luck). First up on that front I thought i’d give a mention for an old but good technique that can still be used effectively in our ongoing, life or death struggle with the bookmaker.
The Each Way Steal
The each way steal is an age old method of nicking a bit of value in the place part of an each way bet. It relies on the fact that bookmakers have to offer fixed terms on an each way bet. These terms can vary slightly with special promotions and the like but broadly they are:
|Race Type/No. Runners||4 or less runners||5 to 7 runners||Handicap 8 to11 runners||Handicap 12 to 15 runners||Handicap 16 or more runners||Non Handicap 8 or more runners|
|Paid Places||win only||1,2||1,2,3||1,2,3||1,2,3,4||1,2,3|
|Place terms||win only||1/4||1/5||1/4||1/4||1/5|
Now, clearly, the make up of all races is not the same yet bookmakers are required to offer the same terms. An ideal race for an each way steal would be one with 8 or more runners with a short price favourite (preferably odds on). You will be looking for a second,third or fourth favourite with a record of running consistently and placing in similar races. Such a horse will be priced up in the market to reflect it’s chance of beating the favourite and winning the race. For example, such a horse might be priced at 8 (7/1). The bookmaker is required to offer you each way terms of 1/5 those odds (2.4 or 1.4/1) for the horse to place. The true odds of such a horse placing are much lower than that. The true odds are actually reflected much more acurately by the far lower odds you would be offered in the Betfair place market.
This pricing anomaly makes the bookmaker very vulnerable to the astute punter who can spot these opportunities when they arise. Be warned though – your bookmaker will really not like you for placing these kind of bets!
On certain occasions you can make the each way steal an even more profitable proposition. After you have placed your each way bet with the bookmaker it might be possibe to lay off the win part of your bet with Betfair at the same price (or even lower) as the market develops. This means that when/if the horse places you will get nearly all the losing win part of your each way bet with the bookmaker returned to you by Betfair. Obviously this can be a little frustrating when your each way steal horse turns over the jolly and wins the race but it ensures that you will get a greater profit on most of your bets (even though calculated over the long term you might make slightly less depending on how good you are at picking horses that go on to turn over the favourite!)
I will identify a good each way steal sometime in the next few days and give you a worked example in my next post to ensure everyone catches my drift.
Some Great Freebies
On one of my daily trawls around the internet recently, I came across a very interesting site that’s offering a number of decent freebies to people who sign up to their newsletter. Just for putting your name down they are offering:
- a free guide to making a guaranteed £1000 by exploiting bookmaker sign up bonuses.
- 6 months free subscription to gambling online magazine
- A 14 day free trial of their arb alerts service
I’m not sure how many of you have investigated Sports Arbitrage but it’s a method of using discrepancies in bookmaker pricing to back every eventuality in a sporting contest and guarantee yourself a profit no matter what the outcome! A true “no lose” proposition.
I know this particular service is well respected in the sports arbitrage “niche” and has been operating successfully for many years.
Even if the service is not for you, go over and grab the freebies – they are good quality products and they are completely free – I don’t think the offer will be available much longer so head over there now.
That pretty much wraps things up for today and all that remains is for me to wish you a very good weekend and wish you luck with your betting!