I'll run this thread to test two hypothesis

1. Loss chasing can work.
2. Long shots can be layed for a profit.

Who knows maybe I will prove to myself this can't work. Maybe I will prove it does work. But we won't know till we try it out.

The rules of the system are simple :

1. Must be 8 runners after scratchings.
2. Must be the longest priced Bet price on Betfair
3. Must be able to be layed for or less then $500 odds.
4. My secret filter.... won't be disclosed.
5. Laying to a loss amount not a win amount.

I'll post my win/loss records and if so I can post all of the selections although there may be a few each day.

The loss chasing is simply lay for $100 to start. If that loses Lay to 1.5x the amount. So next would be lay to $150 then 225, etc. You lay to lose that amount only.

I'll assume a 20K bank divided into 2 so we have a 10K bank to bust. So to start with I will be risking 100/10000 = 1%.

Here are the results since Jan 1 :

Jan 1: Lay to $100 : Loss $26.86 : Bank : $9973.14
Jan 2: Lay to $150 : Profit $62.72 : Bank : $10035.86
Jan 3: Lay to $100 : Profit $36.30 : Bank $10072.16
Jan 4: Lay to $100 : Profit $29.49 : Bank $10101.65
Jan 5: Lay to $100 : Profit $61.18 : Bank $10162.83
Jan 6: Lay to $100 : Profit $37.53 : Bank $10200.36
Jan 7: Lay to $100 : Profit $13.08 : Bank $10213.44
Jan 8: Lay to $100 : Profit $15.83 : Bank $10229.27
Jan 9: Lay to $100 : Profit $31.13 : Bank $10260.40
Jan 10: Lay to $100 : Profit $24.97 : Bank $10285.37
Jan 11: Lay to $100 : Profit $41.97 : Bank $10327.34 <-- HIGH
Jan 12: Lay to $100 : Loss of $135.74 : Bank $10191.60
Jan 13: Lay to $150 : Loss of $86.34 : Bank $10105.26
Jan 14: Lay to $225 : Loss of $183.03 : Bank $9922.23
Jan 15: Lay to $338 : Profit of $44.33 : Bank $9966.56
Jan 16: Lay to $338 : Profit of $107.99 : Bank $10074.55

I'll update one day delayed or after the last Australian race.

Notice I had 3 days of losses ... Ouch. I am still down $252.79 and it could go further down if there is a loss before we recover.

I'll keep it going for as long as I am interested in following it.

Enjoy the journey.