So, I tested the Diamond racing lays service from 1st Jan to 8th April. That is around 14 weeks. As mentioned in the opening post, this is a very minimal laying service. The tipster even says when you join the service, that if you email him with questions, he won’t respond as he is far too busy. So, all you get is one email per day that normally contains one tip (twice the email contained two tips).
Here is a summary of the results plus a breakdown by month:
Bets Won Loss % Points profit
Jan 14 8 6 57.14 -5.32
Feb 19 12 7 63.16 -2.83
Mar 18 13 5 72.22 +3.16
Apr 3 1 2 33.33 -2.41
Total 54 34 20 62.96 -7.4
So at £10 stakes, we would have been down -£74, plus the cost of the subscription (£29 per month), plus a little more (3-5%) for the betfair commission on the winning bets.
The problem was, because it is a laying service, the strike rate has to be pretty high, above 70% at least. Unfortunately, we didn’t get close to this, the strike rate we were getting was much closer to 60%. March was our only month where we made a profit, due I think to the fact that it was the first time in the test period where we had 5 bets that won, back to back. Prior to that, the losing bets were just too frequent. When you consider that these results don’t include the subscription costs of £29 per month, and you are paying a percentage commission on Betfair for the winning bets, the losses would actually be higher, meaning you would probably need a strike rate over 75% just to break even.
I took a look at the previous published results. There does appear to be profit every year, but some of it is not much. For example, the last 2 years only provided +20 points each, but 2011 provided +60 points. 20 points is not a huge profit and at £10 stakes would not even cover the cost of the subscription, but 2011 was clearly a good year.
So, how do I summarise this service. Whilst they may have had good winning years in the past, I have to look at the results during the test period. 14 weeks is a relatively long test period and given the results in the test period, I have to put this service down as a failure. It simply didn’t maintain a sufficient strike rate to make it profitable. Whilst there was a small glimmer of hope with a positive return for one month, it wasn’t stunning. When you take into consideration the subscription fee and commission, I don’t think it offers good value.
I was close to giving this a neutral rating because I know that there are historical results that show that it has been profitable in the past. However, over the period of this test, it consistently lost money, hence I have given it a fail.
You can get Diamond Racing Lays here: