With Royal Ascot starting today I have come up with an easy way of making profits from the arbs that are to be had on the Racing Post tipster Pricewise. This system will also work for his tips on Saturdays and all big race meetings. Whenever bookies find out what his tips are they invariably cut the odds they were offering. This means that when you wake up in a morning and read your Racing Post and see the odds that he was advising the bookies have run scared and cut the odds before you can get their original prices As an example he tipped Junior in the 5.00 at Ascot today with Stan james offering 10.0 and most other bookies offering 9.0. Surprise surprise when you check Stan Jame's odds on Bestbettingodds they have been cut to 8.0. This is what most bookies do, so it is very difficult to get the original odds. The good news is that Betfair also tend to cut the prices as well broadly in line with the bookies. So if we could get the original bookie odds and lay at Betfair at the cut odds we can usually make a profit, as the back odds at the bookies will usually (but not always) be bigger than the lay odds at Betfair. Therefore an arb can be had. More good news. Due to pressure from the media certain bookies have agreed to honour their original prices for a short time every day their is a Pricewise tip. The policy of these bookies can be found on the Tipping section of the Racing Post website under Bookmaker Policy. For example here is the policy of Stan James:
With many bookmakers now running 24-hour operations, not all firms guarantee the prices that feature in Pricewise in the Racing Post. The following is the current policy of Stan James:
We will lay the Pricewise prices in the table for a minimum of ten minutes from 8.30am.
To use the example earlier Junior was originally available at 10.0 but was cut to 8.0 by Stan James. However from 8.30 till 8.40 you could have got 10.00 again. Betdaq were offering a lay price of 9.2 so for this 10 minute period an arb was to be had. If you had backed with a stake of £100 at 10.0 and laid at 9.2 you would have made a profit of £3.83. However what I normally do is adjust my lay stake to ensure I break even if the horse loses but win a lot more if the horse wins. Using this strategy if the horse wins you would make £36.87. Today Pricewise has tipped 3 horses so in theory this could be done 3 times with approximately 6 bookies. To make the most of this system it is best to have your various bookie accounts pre loaded with funds to make the most of the short time that the 'enhanced' odds are available. I've only started using this system today so don't know if there are any issues with stake size, being gubbed etc if all you are doing is backing Pricewise selections. No doubt certain bookies will be easier to use than others. It might be best to use relatively small stakes and bet on other races as well to keep them happy and prolong the life of the system.