The overlay approach I was using previously i stopped using. Mainly because i wasn't being disciplined enough with it and wasn't keeping track properly of my bets so it was a fruitless exercise in the end.

I think the overlay method is something I definitely need to incorporate into my betting in the future, but its just not something i'm using at the moment. Using overlays to manage bankroll is certainly a step in the right direction IMO. I also like the idea of betting to win 5% of bankroll as Bhwaghan suggested.

Hopefully once I finish up with this NBA stuff I can put my focus back on the horse racing side of things and look at some additional bankroll and betting options. Betting to overlays is a bit difficult for me as I don't have the markets open infront of me due to working. So my initial thoughts is something like betting to win 5% of bankroll based on my calculdated odds (using my ratings).

So I might rate something a $2.50 chance with a bankroll of $200 it would be a $4 bet. However the odds of the horse on the TAB might be $5.50 so essentially i'd be winning more. Of course the reverse holds true, that a $5 fave on my ratings would be a $2 bet but may only be paying $1.50 on TAB. Essentially with this method i'm backing my ratings to help me put the most money on my best rated changes.

Another option that a friend of mine is exploring using my ratings is to adjust the staking size on a number of factors. So he bets every single one of my top raters in qualifying races (fields of 8+ and of good quality) and adjusts the stake based on factors. For instance we went through all my data and collated various statistics to see where my ratings performed best.

So he has his initial stake at $9, his maximum bet is $15 and minimum is $3. He adjusts the $9 stake by using percentages based on the following factors:

Day of week
Venue
Race Number
Saddlecloth Number
Conditions

there are some others but I can't think of them from top of my head right now. So essentially he might be betting $15 bets on a sunday at any VR races etc etc as its shown historically to be more profitable with those factors.

Anyhow just thought i'd outline some ideas i've got floating in my head at the moment.

Nice one Evajb001,

From memory the overlays were kicking serious B-U-T-T!!! So might be fruitful to revisit that method. Sometimes you can tinker too much with what is essentially a sound, profitable approach.

A simple approach to overlays, put your minimum price into the Betfair SP tool. Go and play Golf, or the fiddle, or the markets.

Have a great day mate.

__________________
The Schmile

"I buy when other people are selling.”
― J. Paul Getty

TheSchmile,

The overlays one kicked butt on backtesting but had mediocre performance in live betting however i didn't bet it with enough discipline to truely tell if it was working.

If the BetFair SP Tool something that I can download and use? I'm thinking that I could possibly trial betting only on horses that are 80% or greater of my estimated pricing. I don't want to narrow down my bets too much as enjoy having money on something daily.

Anyhow here are todays/tonights plays:

Coffs Harbour - Race 9

No.
1 Spiritist

Moonee Valley - Race 7

No.
3 Alrouz

Moonee Valley - Race 8

No.
3 Vibrant Rouge

Canterbury - Race 4

No.
3 Inventive

Canterbury - Race 6

No.
5 Lady Gazerra

off to a good start today.

Hi evajb001,
The Betfair SP tool is part of the Betfair package:

1/ Click on the blue SP button
2/ A box will appear in the top right hand corner of the my bets section of the screen, which is on the right-hand side of the main screen saying 'set SP odds limit'.
3/ Click in the box and then type in your minimum acceptable price and stake.

__________________
The Schmile

"I buy when other people are selling.”
― J. Paul Getty

Sorry evajb001,

If you're not currently using Betfair then my instructions may not make sense (may as well be from IKEA )

The Blue button is for backing and the pink for laying.

Instructions to get to the race are:

1/ Click on the racing tab near the top far left of the screen
2/ Click on 'Horse racing' -> 'Aus' then the meeting and the race number.

then

3/ Click on the blue SP button next to your selection
4/ A box will appear in the top right hand corner of the 'my bets' section of the screen, which is on the right-hand side of your main screen saying 'set SP odds limit'.
5/ Click in the box and then type in your minimum acceptable price and stake.
6/ Confirm and you're Golden.

__________________
The Schmile

"I buy when other people are selling.”
― J. Paul Getty

Hey guys,

Sorry TS I thought you meant there was an actual downloadable tool that would allow me to do it that BF provided. I personally can't stand BF's website after using sportsbet for so long, they are worlds apart.

Luckily last night was finally the profitable day I'd been waiting for and I was at the pub to take advantage. Started the night with $100, got absolutely tanked, had some dinner with entre's and came home with $160.

I'll post today's plays shortly, just have a black panadol (can of pepsi max) first to aid in curing this hangover. Best of luck to all today

Caulfield - Race 5

No.
4 Bia Diamond

Warwick Farm - Race 5

No.
6 Forfeiture

Eagle Farm - Race 6

No.
3 Jet Style

Morphettville - Race 7

No.
12 Aregee McLaren

Ascot - Race 3

No.
4 Watermans Bay

Ascot - Race 4

No.
10 Galaxy Prince

Ascot - Race 5

No.
11 Elusive Image

How did your ratings and bets go today mate?