Midas Method 3.0 Review

[review]

Product Name: Midas Method version 3.0

Author:  Steve G

Contact details: support@themidasmethod.net

Price: £14.95 per month or £79 per year, which equals just under 22p per day

Money Back Guarantee: 60 days, no quibbles

What Do You Get? Access to a betting bot program with four systems, plus additional tips

Where to Buy: http://www.raceadvisor.co.uk/s/themidasmethod/

Brief Summary: The Midas Method Version 3.0 is an automated betting bot which provides suggested selections via two main methods and two ‘bonus’ methods. It does not place the bets for you, it merely identifies them, so there’s no need to worry about it automatically hijacking your accounts! In addition there are three weekly emails with pro tipster selections – these are being monitored separately by the proofing team at Race Advisor.

How Much Money Do I Need To Get Started? The simple answer is £2 or more to place your first bet – based on my first four weeks of monitoring I would suggest a bank of 50 points for level stakes betting will be more than sufficient.

How Much Money Can I Make? Oh dear – the old piece of string issue raises its ugly head right away. The vendors make some pretty strong claims to high profits, but do at least steer clear of promising the untold riches you may anticipate from the name of their product. With some effort applied to the selection process I believe it could be possible to make 5-10 points a week.

How Much Time Will I Need To Make This Work? For method 1, around 20-30 minutes a day should.be enough. Method 2 only works when you’re within easy reach of your computer/laptop/tablet/iphone etc., but you can dip in at any time, so from half an hour to seven hours a day! Methods 3 and 4 are similarly time-demanding.

Will I Need Any Equipment To Do This? You must have an internet-connected device, preferably with fast broadband access; a Betfair account and at least one bookmaker account are a must (NB: William Hill is the firm recommended by the vendor and used in conjunction with their bot); as an aid. you might like to use Excel

What do I get?: After paying for your subscription you’ll receive an email with your log-in details, password.and a one-click route to the website. You’ll then have access to the betting bot software for the length of your subs period. There’s a concise 13-page pdf instruction manual which is essential reading before doing anything else, and is well written with no ‘flannel’. There’s an FAQ section and a simple contact method if you need to ask any questions. You then have a one-click access to the bot, and a variety of options for customising selections to fit your requirements.

The two main methods are entitled Midas Before Racing System and Midas Live Racing System, with the bonuses the Steamer System and Drifter System. For the purposes of this trial I shall be testing the Before Racing System for a minimum of 60 racing days and the Live Racing System for a minimum of 30 racing days.

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Product Name: Midas Method version 3.0

Review Period: September 6^th to 30^th, with three days omitted – 22 racing days in total

Introduction: I have had access to the Midas method since early September, but due to family tragedy I’ve not been able to log daily updates. From October 1^st I’ll be aiming to report every day on the previous day’s results. I’m using the system in its ‘vanilla’ form, not making any alterations or tweaks, and compiling results to win and place at Betfair SP after the standard 5% deduction. For the Before Racing System I’m taking selections at one hour before the first race of the day, and using both UK and Irish racing.

As I‘m recording every selection, I will also be splitting selections into groupings for the final review – these will be in strength bands of 40-49%, 50-59% and 60% and above; UK only; Ireland only: odds up to 1.99; odds 2.0-4.99; odds 5.0-9.99; odds 10.0-19.5; odds 20-29; odds 30 and above.

The vendors recommend only betting in races with one selection, so this will be the principal focus – however I am also recording all races with two selections in, as these are marginally outperforming the one-a-race picks. Below are the results for the first 22 days of following the method.

Day 1 Sep 6th – sels 7, won 0 for a loss of 7 pts, cumulative loss 7.0; places – sels 7, won 3 @ 4.04 for a loss of 2.96 pts, cml loss 2.96

Day 2 Sep 7th – sels 2, won 0 for a loss of 2 pts, cml loss 9.0; places – sels 2, won 2 @ 4.83 for a profit of 2.83 pts, cml loss 0.13

Day 3 Sep 8th – sels 3, won 1 @ 4.86 for a profit of 1.86 pts, cml loss 7.14; places – sels 3, won 2 @ 3.42 for a profit of 0.42 pts, cml profit 0.29

Day 4 Sep 9th – sels 4, won 2 @ 3.55 for a loss of 0.45 pts, cml loss 7.59; places – sels 4, won 3 @ 3.45 for a loss of 0.55 pts, cml loss 0.26

Day 5 Sep 10th – sels 6, won 3 @ 12.42 for a profit of 6.42 pts, cml loss 1.17; places – sels 6, won 6 @ 12.96 for a profit of 6.96 pts, cml profit 6.70

Day 6 Sep 11th – sels 6, won 2 @ 6.43 for a profit of 0.43 pts, cml loss 0.74; places – sels 6, won 3 @ 4.65 for a loss of 1.35 pts, cml profit 5.35

Day 7 Sep 12th – sels 6, won 2 @ 5.95 for a loss of 0.05 pts, cml loss 0.79; places – sels 6, won 3 @ 4.24 for a loss of 1.76 pts, cml profit 3.59

Day 8 Sep 13th – sels 4, won 0 for a loss of 4 pts, cml loss 4.79; places – sels 4, won 1 @ 1.73 for a loss of 2.27 pts, cml profit 1.32

Day 9 Sep 14th – sels 2, won 0 for a loss of 2 pts, cml loss 6.79; places – sels 2, won 2 @ 2.47 for a profit of 0.47 pts, cml profit 1.79

Day 10 Sep 15th – sels 9, won 2 @ 12.05 for a profit of 3.05 pts, cml loss 3.74; places – sels 9, won 6 @ 11.06 for a profit of 2.06 pts, cml profit 3.85

Day 11 Sep 16th – sels 11, won 5 @ 16.52 for a profit of 5.52 pts, cml profit 1.78; places – sels 11, won 7 @ 12.85 for a profit of 1.85 pts, cml profit 5.7

Sep 17th not recorded

Day 12 Sep 18th – sels 4, won 1@ 1.57 for a loss of 2.43 pts, cml loss 0.65; places – sels 4, won 1 @ 1,07 for a loss of 2.93 pts, cml profit 2.77

Day 13 Sep 19th – sels 5, won 2 @ 17.99 for a profit of 12.99 pts, cml profit 12.34; places – sels 5, won 4 @ 9.46 for a profit of 4.46 pts, cml profit 7.23

Day 14 Sep 20th – sels 13, won 4 @ 12.30 for a loss of 0.70 pts, cml profit 11.64; places – sels 13, won 5 @ 7.03 for a loss of 5.97 pts, cml profit 1.27

Day 15 Sep 21st – sels 7, won 2 @ 6.83 for a loss of 0.17 pts, cml profit 11.47; places – sels 7, won 5 @ 6.95 for a loss of 0.05 pts, cml profit 1.22

Day 16 Sep 22nd – sels 5, won 0 for a loss of 5 pts, cml profit 6.47; places – sels 5, won 1 @ 1,72 for a loss of 3.28 pts, cml loss 2.06

Day 17 Sep 23rd – sels 9, won 2 @ 3.76 for a loss of 5.24 pts, cml profit 1.23; places – sels 9, won 6 @ 7.90 for a loss of 1.1 pts, cml loss 3.16

Sep 24th not recorded

Day 18 Sep 25th – sels 6, won 1 @ 3.85 for a loss of 2.15 pts, cml loss 0.92; places – sels 6, won 2 @ 3.44 for a loss of 2.56 pts, cml loss 5.72

Sep 26th not recorded

Day 19 Sep 27th – sels 12, won 3 @ 7.65 for a loss of 4.35 pts, cm loss 6.50; places – sels 12, won 9 @ 18.26 for a profit of 6.26 pts, cml profit 0.54

Day 20 Sep 28th – sels 5, won 3 @ 9.02 for a profit of 4.02 pts, cml loss 2.48; places – sels 5, won 4 @ 5.70 for a profit of 0.70 pts, cml profit 1.24

Day 21 Sep 29th – sels 9, won 2 @ 6.75 for a loss of 2.25 pts, cml profit 0.23; places – sels 9, won 3 @ 4.78 for a loss of 4.22 pts, cml loss 2.98

Day 22 Sep 30th – sels 8, won 3 @ 13.23 for a profit of 5.23 pts, cml profit 5.46; places – sels 8, won 7 @ 8.68 for a profit of 0.68 pts, cml loss 2.3

Day 23 Oct 1st – sels 13, won 4 @ 21.61 for a profit of 8.61 pts, cml profit 14.07; places – sels 13, won 7 @ 12.28 for a loss of 0.72 pts, cml loss 3.02

Day 24 Oct 2nd – sels 4, won 1 @ 6.13 for a profit of 2.13 pts, cml profit 16.2; places – sels 4, won 3 @ 5.76 for a profit of 1.76 pts, cml loss 1.26

Day 25 Oct 3rd – sels 7, won 0 for a loss of 7 pts, cml profit 9.2; places – sels 7, won 2 7.05 for a profit of 0.05 pts, cml loss 1.21

Day 26 Oct 4th – sels 5, won 0 for a loss of 5 pts, cml profit 4.2; places – sels 5, won 2 @ 4.63 for a loss of 0.37 pts, cml loss 1.58

Day 27 Oct 5th – sels 6, won 1 @ 1.3 for a loss of 4.7 pts, cml loss 0.5; places – sels 6, won 4 @ 6.36 for a profit of 0.36 pts, cml loss 1.22

Day 28 Oct 6th – sels 5, won 4 @ 18.18 for a profit of 13.18 pts, cml profit 12.68; places – sels 5, won 4 @ 7.61 for a profit of 2.61 pts, cml profit 1.39

Day 29 Oct 7th – sels 12, won 4 @ 14.34 for a profit of 2.34 pts, cml profit 15.02; places – sels 12, won 8 @ 16.29 for a profit of 4.29 pts, cml profit 5.68

Day 30 Oct 8th – sels 5, won 0 for a loss of 5 pts, cml profit 10.02; places – sels 5, won 2 @ 4.23 for a loss of 0.77 pts, cml profit 4.91

Day 31 Oct 9th – sels 5, won 2 @ 5.22 for a profit of 0.22 pts, cml profit 10.24; places – sels 5, won 4 @ 7.73 for a profit of 2.73 pts, cml profit 7.64

Day 32 Oct 10th – sels 6, won 2 @ 18.06 for a profit of 12.06 pts, cml profit 22.3; places – sels 6, won 2 @ 6.04 for a profit of 0.04 pts, cml profit 7.68

Day 33 Oct 11th – sels 6, won 2 @ 16.88 for a profit of 10.88 pts, cml profit 33.18; places – sels 6, won 3 @ 7.01 for a profit of 1.01 pts, cml profit 8.69

Day 34 Oct 12th – sels 4, won 0 for a loss of 4 pts, cml profit 29.18; places – sels 4, won 2 @ 3.05 for a loss of 0.95 pts, cml profit 7.74

Day 35 Oct 13th – sels 2, won 2 @ 13.72 for a profit of 11.72 pts, cml profit 40.9; places – sels 2, won 2 @ 4.85 for a profit of 2.85 pts, cml profit 10.59

Day 36 Oct 14th – sels 13, won 5 @ 13.39 for a profit of 0.39 pts, cml profit 41.29; places – sels 13, won 9 @ 12.33 for a loss of 0.67 pts, cml profit 9.92

Day 37 Oct 15th – sels 9, won 4 @ 13.07 for a profit of 4.07 pts, cml profit 45.36; places – sels 9, won 6 @ 10.76 for a profit of 4.76 pts, cumul profit 14.68

Day 38 Oct 16th – sels 9, won 5 @ 12.20 for a profit of 3.2 pts, cml profit 48.56; places – sels 9, won 7 @ 11.91 for a profit of 4.91 pts, cml profit 19.59

So – a profit of 48.56 points on win bets at a strike rate of 30% and a positive Return on Investment of around 19%, with places showing a strike rate of 60% at a positive ROI of almost 8%.

Day 42 Oct 20th – sels 5, won 2 @ 10.37 for a profit of 5.37 pts, cml profit 35.34; places – sels 5, won 2 @ 4.25 for a loss of 0.75 pts, cml profit 5.40

Day 43 Oct 21st – sels 6, won 1 @ 1.29 for a loss of 4.71 pts, cml profit 30.63; places – sels 6, won 2 @ 3.10 for a loss of 2.9 pts, cml profit 2.5

Day 44 Oct 22nd – sels 4, won 2 @ 9.22 for a profit of 5.22 pts, cml profit 35.85; places – sels 4, won 2 @ 3.69 for a loss of 0.36=1 pts, cml profit 2.19

Two poor days have eaten into the profits…

Day 47 Oct 23rd – sels 4, won 0 for a loss of 4 pts, cml profit 31.85; places – sels 4, won 1 @ 1.86 for a loss of 2.14 pts, cml profit 0.05

Day 48 Oct 24th – sels 8, won 1 @ 2.86 for a loss of 5.14 pts, cml profit 26.71; places – sels 8, won 2 @ 5.52 for a loss of 2.48 pts, cml loss 2.43

A good day for the method…

Day 49 Oct 25th – sels 8, won 3 @ 14.4 for a profit of 6.4 pts, cml profit 33.11; places – sels 8, won 5 @ 10.3 for a profit of 2.3 pts, cml loss 0.13

Just one bet today, but it won

Day 50 Oct 26th – sels 1, won 1 @ 1.85 for a profit of 0.85 pts, cml profit 33.96; places – sels 1, won 1 @ 1.25 for a profit of 0.25 pts, cml profit 0.12

Day 51 Oct 27th – sels 4, won 2 @ 6.06 for a profit of 2.06 pts, cml profit 36.02; places – sels 4, won 4 @ 7.7 for a profit of 3.7 pts, cml profit 3.82

Day 52 Oct 28th – sels 5, won 1 @ 1.65 for a loss of 3.35 pts, cml profit 32.67; places – sels 5, won 1 @ 1.10 for a loss of 3.9 pts, cml loss 0.08

Day 53 Oct 29th – sels 4, won 0 for a loss of 4 pts, cml profit 28.67; places – sels 4, won 3 @ 4.63 for a profit of 0.63 pts, cml profit 0.55

Not done Oct 30th

Day 54 Oct 31st – sels 4, won 0 for a loss of 4 pts, cml profit 24.67; places – sels 4, won 1 @ 2.33 for a loss of 1.67 pts, cml loss 1.12

Day 55 Nov 1 – sels 8, won 2 @ 14.98 for a profit of 6.98 pts, cml profit 31.65; places – sels 8, won 6 @ 13.16 for a profit of 5.16 pts, cml profit 4.04

Day 56 Nov 2 – sels 4, won 1 @ 22.85 for a profit of 18.85 pts, cml profit 50.; places – sels 4, won 2 @ 6.58 for a profit of 2.58 pts, cml profit 6.62

Day 57 Nov 18th – sels 5, won 2 @ 6.68 for a profit of 1.68 pts, cml profit 52.18; places – sels 5, won 2 @ 3.38 for a loss of 1.62 pts, cml profit 5.0

Day 58 Nov 19 – sels 6, won 3 @ 7.08 for a profit of 1.08 pts, cml profit 53.26; places – sels 6, won 4 @ 6.03 for a profit of 0.03 pts, cml profit 5.03

END OF TRIAL REVIEW

The Midas Method 3.0 is billed as a racing bot with four strategies at its heart. Let’s get one thing clear right away – it’s not a bot in the accepted sense of the term, as it is simply a piece of software that automates selections based on criteria that would take a long time to implement were you to do it manually.

These selections will not necessarily be the same ones for each user, as you can refine search criteria to suit your preferred approach, and the selections will also change during the course of the racing day as they are based on price movements.

The idea behind it is not new, as variations of it have been around for years, and it’s not exactly the proverbial rocket science either. However, it is the first time I have found anyone who has attempted to automate the process, so in that way it is an innovation of sorts.

I recorded selections made by the main method only, as the other three are spin-offs from it and generally duplicate the main method’s picks.

I tested the method on 60 racing days over a period spanning three months, which gave it plenty of time to show its good and bad points.

Using it with its recommended default settings is going to lose you money both in the short and long term, as the strike rate and winning prices are each simply too low for a profit to be sustained.

Other recently published trials of this product have reviewed it based on these recommendations and have found it wanting.

I tried variable staking and a dozen or so staking plans and the result was always the same – a loss.

Not a huge one, but not close to break-even either.

This was all based on the prime setting of a 40% price differential between the anticipated odds and the odds recorded by the method based on those available on Betfair and at William Hill.

However, just over half way through the trial, going through the details in a desperate attempt to find some positive outcomes, I noticed that if the basic selection criterion was increased to a minimum of 50% then everything changed for the better.

I set the system running each morning between 10 and 11.55, and went back in to record the selections half an hour before the first race of the day.

I have no doubt whatsoever that if I had adopted the routine of one hour before, or of looking every day at spot on 12 noon, I would have come up with a number of different selections – but I had to stick a stake in the ground somewhere, and that’s what I plumped for.

Over the 60 days this amended approach at 50%+ price variation produced a total of 366 bets, of which 105 won (28.6% strike rate) , returning a profit to Betfair SP (after a 5% deduction for all winners) of 54.34 points at a Return On Investment of 14.8%.

Backing each selection for a place to BSP saw 205 winning wagers at a profit after deductions of 3.62 points, at a strike rate of 56% and an ROI of 1%.

To level stakes of £10 at Betfair SP, the result of the trial would have been a profit of £543.40.

It averaged out at 6 bets a day, with the quietest day providing one selection and the busiest 13.

There were numerous days with multiple winners but, as many were at shortish prices, combining them in doubles and trebles was very much a hit and miss affair with occasional stand-out days thrown in.

It’s really tricky to sum up an offering whose outcomes are as hard to pin down as an eel on ice.

You could have run the same trial on the same days and had better or worse results than me, simply because the selections can change in the blink of an eye – and frequently did so just as I was trying to write them down.

Yes: although the picks can be exported to a spreadsheet, it was quicker to use pen and paper.

And yes: although it’s billed as a bot, you have to place the bets yourself.

Overall though, there is some merit in the amended selection process; winners come along at frequent enough intervals to keep a bettor interested; fans of each-way doubles could well have a field day if they are prepared to put in some extra research, with better than one in two selections placed; and a return of almost 15% profit is not to be sniffed at for an average of 15 minutes work a day.

The software is simple enough to operate, although the need to amend the settings every day is a bit annoying.

Occasionally the selections don’t appear automatically and you have to click on each race through the card to pull them up, but this only takes a minute or so to accomplish.

The website doesn’t appear to have been updated since a big sales push in August, but the software itself still appears to be robust. There are plenty of ways to tweak the selection process to suit the user, and you could well better the results I obtained – mind you, you could make them worse!

So at an annual cost of £79 (just under 22p a day) I would cautiously recommend the Midas Method 3.0 with the proviso that any purchaser should change the settings daily to reflect a minimum 50% price variation.

[review]