Hate to say it Wayne but it doesn't matter whether you build your own systems or use tipsters, what most people don't see coming is the 'Run of Outs'. Your max losing streak and max Bank drawdown.

The best systems might have a strike rate of 40%, but can you cope mentally and financially with 14 straight losses? It will happen, even with < $1.40 favourites with a 80% strike rate can have 4 straight losses. You'll need 10 straight wins after that event to just break even.

What usually happens is people start doubling up and go bust even quicker. You have to be well disciplined and have good money management to survive as a Backer.