Hi Bloggers
Sorry that I have been “off the air” for a while, but I have been working in India for the last 2 weeks and travelling around quite a bit. In the main cities there is no problem accessing the net, but in the remoter parts it is hard to find a phone, let alone an Internet cafe! I am here until the end of April, so will have to ask you to bear with me in the circumstances.
I agreed with James that I would write an interim summary after 30 days and then go on to do a weekly summary thereafter. I currently have all the data up to yesterday, day 43, which was Tuesday 30 March.
Here is the summary of the first 30 days of the review:
We started with a bank of £1,000 and this is a progressive betting system. For the sake of clarity, this simpy means that if you lose on one selection you increase your stake on the next selection and so on until you reach a winner. In theory that will recover your losses unless you have a long losing run and lose all of your bank! The system also has an automated betting option, but I chose not to use it. No offence to the system authors, but my past experience with Jamie Kelly put me right off the whole idea, as I lost a packet with him! Judging by the avalanche of derogatory posts from you guys, many of you said the same thing, so I opted to bet manually (just for the record, some of the posts were not fit for publication, so there are definitely some strong feelings about this out there!).
The system also has a manual staking software package included on the website, that allows you to calculate the stakes on each bet. I am using that software, but the downside is that it does mean that you have to be sitting at your PC most of the day to input the results of each selection in order to calculate the stakes for the next selection. Since the 30 days finished, I have missed a few days through travelling, but the author has kindly sent me the missing details.
In summary, in the 30 day review period, the bank increased from £1,000 to £1,134.03 – a profit of £134.03 in the 30 days.
This is not spectacular, but beats anything that you would get from a bank or building society at 13.4%! Being totally objective, if I could get 13.4% profit per month from any system on a regular basis, I would be a very happy bunny.
At the moment, I am going to sit on the fence and rate the system with a Neutral rating at this mid point in the review. I think this is fair as the system has produced a decent profit in the first 30 days, but it does have the downside of having to be online to access the results of each race to determine the stakes on the next race. I have no idea what would have happened if I had used the automated Betfair betting system and am unable to access any accounts to show this, but have to assume that it would have produced the same results as my manual betting using their manual staking software. I also have no idea what the next 30 days will produce, so am happy to leave the rating as neutral for the time being.
As with all reviews on this site, we like to go way beyond 30 days to prove that the results are statistically more accurate. When I reveiwed the Betfair Black Box system, for example, it was great for the first 30 days and then went down the pan very quickly in the next 30 days, so the longer the review period, the more accurate the results of the review will be. You know that you can trust this site to give you honest and factual information, without any subjective comments or hearsay involved – a big thanks to James for setting the whole thing up in this manner.
Anyway, back to the system.
When using the manual staking software, you have the option to select your target percentage. You have the option of selecting 0.33%, 0.45%, or 0.60%. The default setting is set as 0.45%. and this is what I have been using for this review. This means that for each winner that you get, you can expect to make your target percentage. Once you enter your target percentage, the system will work out your profit per race. I have no idea what results would have been produced if I had opted for 0.33% or 0.60% but assume that there would have been lowere profits at 0.33% and higher profits at 0.60% – it is a matter for you to personally select your level of acceptable risk. I opted for the 0.45% option as it is the default and it is in the middle of the range!
I am in the process of updating and recalculating all the information from day 31 to day 43 (today, Wednesday 31 March) so will provide the next (weekly) update at the end of today’s racing.
Thanks for your patience and do feel free to post comments or any questions on the blog.
Kind regards
Tony
