Monday, April 20, 2009

Dead Heat

If any of you followed the tip you will have seen that the Horse was involved in a Dead Heat. This threw up an interesting scenario for me which I have not encountered before. I backed the horse with £30 at 3.7 for a potential profit of £81. Therefore I thought I would make a profit of half that when the horse tied for first. What I forgot was that I lost half my stake as well! Therefore my profit was only £24 after commission.

This made me realise that if you back a horse less than evens and it Dead Heats then you would actually lose money. Something useful to know.

I think I will bring an end to my tipping service at this point with a 100% record or is that 50% I am not sure.

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