Updated: Nov 10
The recent spate of betting shop closures should send alarm bells off through the horse racing industry. With racing so reliant on the income from the levy board the next few years are going to be extremely challenging with racing no longer a priority or the 'bread winner' it once was with the bookies. It should be no surprise to anyone if a major UK bookmaker just simply gives up and stops taking horse racing bets on UK tracks. The warning signs are already there and it will probably happen sooner than we think.
For some reason the racing industry feels it has a divine right to a hand out from bookmakers profits, maybe they had a case a few years ago but no longer. They are sleep walking into a disaster zone, oblivious to the fact bookmakers no longer want to do business with them anyway. The cost of beaming live pictures to LBO's is bordering on extortion, running cost are astronomical compared to other countries and the bookmakers have quite rightly had enough of the sport of Kings. Bookmakers lobbied parliament to get TV adverts, £100 a spin on addictive FOBT games and weened themselves sneakily off the 'expensive' racing product. Racings future is bleak without the levy and soon we will be wondering how the racing industry managed to blag a free ride for so long.
Remember bookmakers don't pay levy on other sports and now can't seem to be bothered to price horse races correctly anymore instead opting for the overnight market to catch the 'sharks' or 'schnoorers' as they call them so they can close/restrict accounts for little liability. It's fools gold for 'winning' punters, a short term gain for a long term loss. It's a way for the bookmakers to get rid of you, and they are looking for an excuse! Bookmakers seemingly deliberately go 16/1 about a 7/2 chance in order to close anyones account who has the nouse to see its wrong.
From a 'winning' punters perspective the goal is to keep your betting accounts open for the long run to maximise profit. No point having £10 on a 33/1 poke overnight that wins at 4/1 the next day landing a big gamble. Yes its a great feeling but its unwise, your account will probably be knackered the very next day and you will be offered 4pence the next time you try to outsmart them. To help those who are unsure how to protect their account for long term profit here are a few tips amongst many others.
Bet overnight horse prices that are clearly wrong.
Obscure markets (Next QPR manager, volleyball div 3 in Cyprus etc)
Bad each way singles (for eg - 2nd or 3rd Fav when Fav odds on)
Bet once the market has settled, after 8am day of race but preferably after 9am
Keep consistent stakes
Backing shorter prices if you can with profit (bookies hate laying big priced winners and like low liability)
Do multiples if your a 'winning' punter (see previous article)
Remember the goal is to get as much money out of your betting accounts as possible. If you make a selection 6/4 by staking £40 at 9/4 at 11.00am on the day of the race will not lead to an immediate account closure even if you are winning long term. Taking £10 the same selection at 8/1 at 5pm the day before will. Whilst this is obvious it's amazing how many people moan about account restrictions and yet do exactly that, for them I have no sympathy. Yes of course your ROI will be lower but you will be able to milk the account for many months/years instead of the second example which will be a matter of a few days. Hiding those selections in multiple bets (preferably with bonuses) will not only increase your ROI but will help hide that you are a winning gambler.