Hello and a Happy New Year to one and all.
This month see’s us revisiting The Format Racing Method. Having received the system from Graham over the weekend and looked over the previous posts on this system, I’m going to start the test with a clean slate and no preconceptions of what to expect. With that in mind I’ll give a quick overview of the system.
The system is a dutching system, which won’t appeal to everyone, however it is based on horse racing statistics, with the logic behind it making perfect sense. Much like my last system test, it does require sitting in front of your PC each day, but if it proves profitable then that’s a small price to pay. The author suggests leaving out certain kinds of races and gives his reasons for doing so. He also states that in his opinion, the worst of losing runs should result in a loss of around 21 points and for this reason suggests a 20 point bank but does say it may be wise to double this, meaning that I will start with a £1000 bank and aim for £25 profit per race including commission, so each race will see me aiming for £26.25 to account for Betfair’s 5%. Included with the system is a staking spreadsheet that works out your stakes on each race, and also indicates whether the odds are suitable for a bet.
My first impressions today were good with the system being very easy to operate, taking a matter of seconds to find selections. Every race today was a potential, however 13 were ruled out as unsuitable at the off giving me seven bets:
12:50 Southwell – Strathmore – Won £25
13:20 Southwell – LOST -£58.09
13:30 Ludlow – Gentle John – Won £25
14:00 Ludlow – Hypnotic Vibes – Won £25
14:20 Southwell – Royal Applord – Won £25
15:30 Ludlow – Ashwell – Won £25
15:50 Southwell – LOST -£44.29
Day 1 P/L = £22.62
Total P/L = £22.62
Bank = £1022.62
Not a massive profit, but profit is profit! The author does suggest it is viable to stop when one point profit is reached, however, he believes better returns are gained when including every race, so for the purpose of this test that’s what I intend to do. I will keep records of the results and compare stopping at a point with betting on every race.