Can anyone suggest to me a system for place betting. I've been trialling one on paper over 100 races. No good. Lots of strikes but a LOT of over 12% so far. I'm yet to see a decent scheme for place betting. Any placebetters in this forum who can initiate me into the mysteries of profitable place betting? All suggestions warmly appreciated.

Hermes

Depends on your strike rate and odds.

Keep records of all bets, after a while you'll know whether place betting has any merit.

Hermes,

I have tried a couple of times to work out a system for place betting but have trouble getting a decent return. If I use the selections from my win bet system (which gives a profit of over 10%) and do place bets the return is only 2-3%. As you say the strike rate can be great but the divs just don't seem to be good enough.

If you are betting with TAB then a big problem is that you are severly limited on the bet size you can place without affecting the dividend. Also the dividends are extremely volatile (much more so than win) - it is not unusual to see a $2.00 place div at jump time drop to 1.40 when the race has been run - very hard to look for value with this kind of variation.

Personally I think place betting is great for the casual punter (high strike rate, etc) but it would be very hard to make enough out of it to live on if you want to become a professional punter.

Hermes ,

To make a profit with place betting you must have a great strike rate (80% or more) and a very good staking plan.
I have a good place betting plan which has served me very well , and is quite simple it just involves picking a horse at 2/1 or less and putting it through several rules and if it passes its a selection.
Over the last year the average dividend is $1.30 which doesn't sound very exciting but using various staking plans and starting with a bank of $200 i have accumulated around $13,000 in 12 months.

You turned $200 into $13,000 betting for a place with avg divs of $1.30?
I don't believe you!
Do you sell racing systems??????

Either you added some money to the account or you placed other bets - win bets, allup best, trifectas.

Chief ,

No i don't sell racing systems , and yes i have made $13,000 in 1 year on place betting where the avg div was $1.30 , although i must add something that i did not to my earlier post and that is i used 4 staking plans in which i started with $200 for each plan , therefore i started with $800.
In the past year i had 163 place bets which on avg is about 3 bets per week , and 142 were placed an avg of %87.There were also 82 winners at %50.3.The longest losing run was just 2 bets.
With each bank i started with $200 and bet $50 on each selection (%25 of bank) as soon as it reached $400 i increased the bet to $80 (%20 of bank) when it reached $800 i increased the bet to $100 (%12.5 of bank).
The staking plans are simple the first one is just simple place betting on each horse one after another.The 2nd is just an all-up on every 2 selections.The 3rd is just an all-up on every 3 selections.The 4th is another doubles plan such as the 2nd plan but the 2nd leg of the 1st double also becomes the 1st leg of the 2nd double.The 2nd leg of the 2nd double becomes the ist leg of the 3rd double and so on.
So as you can see using simple staking plans and a good selection process you can successfully make quite a good profit on place betting.

P.S It seems to me Chief that you like downplaying other peoples suggestions and opinions , Equine Investors stable systems is one that springs to mind and various other posters , My question is why?????

The maths now make sense.

Congratulations Testarossa,

I feel like someone has just downloaded the contents of my hard drive of my PC onto this forum, but this is almost identical to the staking plan I have perfected over some years.

Placegetter

Ok i must be thick...i understand the first 3 types of bet but that 4th one gets me
plan 1 single bets
plan 2 2 race allup
plans 3 3 race allup
plan 4?



[ This Message was edited by: Shaun on 2002-06-24 12:45 ]

Shaun, you're not thick, you're just learning something new. Did you understand English the first time you heard it?

The way my staking works and correct me if I'm wrong Testarossa, but your Plan 4 apears to as well, is like this.

Consider a series of bets A,B,C,D,E.

Combine the following bets:

A&B, B&C, C&D, D&E etc. So the second bet of the first series is the first bet of the second series.

If you were to only bet A&B, C&D etc, you would get nothing if A or D didn't pay, but in Testaross'a plan you still collect if B and C have saluted. You could argue that A&D should be combined etc, but that would be missing the point. Then I would just call you thick......

Anyway, I've got a couple of insurances in my plan, but that comes down to the person. I wrote eight staking plans, put my past results into it, and then just prospectively took the best one for my strike rate. You should do that too.

Placegetter