You may have seen the Race Advisor recently pushing its new service Tipster Portfolio.
It’s a great service that shows you which tipsters to sign up to and add to your portfolio. So why is this so great?
Using tipsters means that you are relying on an expert to give you tips and show you how to make a profit. If you get this right then your time spent on analysing lots of data to turn a profit is completely eliminated.
The problem of course, as highlighted here on the Race Advisor many times, is people either quit during a losing run and miss the winners or the tipsters themselves genuinely don’t make a profit.
So what’s different about Tipster Portfolio?
As we proof 120 tipsters here on the Race Advisor we’re able to breakdown all of the results using lots of calculations and find the best ones that will be best for the portfolio. We use Archie scores, expected wins versus actual wins, results to BSP, ISP, Best Odds Guaranteed and which bet type is the most profitable to follow.
Once we’ve found the best tipsters that have passed all of our tests we then breakdown where they perform best.
This is then put into four portfolios as follows –
- Best Odds Guaranteed
- Advised Odds
- Betfair SP
- SP
Personally I’m a big fan of the Betfair SP portfolio and thought I’d go through how I set up my bank and how it all works.
First of all then I needed to work out the cost of each service and which ones looked the best to me. I have outlined these below –
Tipster 1 – £57
Tipster 2 – £39
Tipster 3 – £65
Tipster 4 – £22.50
For a total of £183.50 per month.
So using my log calculation which you can read about here – Find Out How To Calculate Your Bank Size – I was able to determine how many units I would need to for each service in order to protect my bank. I have outlined these below –
Tipster 1 – 55 Units
Tipster 2 – 38 Units
Tipster 3 – 50 Units
Tipster 4 – 80 Units
For a total of 223 units for this portfolio.
I now needed to calculate the size of my stakes from a starting bank of £1,000. There are 4 tipsters so I divided my starting bank by 4 to give me a £250 bank for each tipster.
I then divided the points into each bank for each relevant tipster which I have highlighted below –
Tipster 1 – £4.60
Tipster 2 – £6.60
Tipster 3 – £5.00
Tipster 4 – £3.20
So I now had my bank, staking and portfolio ready for action. You’ll see my excel sheet below that I started 90 days ago and how well I’m doing.
So you can see I have now more than doubled my original bank and can start compounding these profits. Not bad going for three months!
You can find out more about this impressive service HERE.
Hi,
Sorry but for me the idea of spending £183.50 when only having a £1,000 bank to bet seems crazy. It may work out OK when the services are doing well, but the monthly subscriptions are a big extra hit when some/all of the services are doing badly – which for me is usually just after I join or just before renewal time.
I am also very suspicious of the number of units you are allocating to each service. They seem to be very much on the low side. I have recently set up a mini portfolio of 3 services and after analysis of the historic results found I had to nearly double the advised betting bank units. Thus for 3 services with high strike rates(40%, 29% and 28%) I needed a total of 375 units based upon both historic and expected drawdown.
I suspect that you may have not allowed any units left to recover from a simultaneous max expected drawdown.
Ian
Hi Ian,
Did you read the article about the way I calculate the bank size? For me personally (and I appreciate that it’s not for everyone) it is the safest way to bet a system/service. The whole basis for the log calculation is that it predicts the most probable losing run and compensates for this.
I appreciate that the stakes seem small but I did actually use a £5,000 betting bank which is relative but didn’t want to put the smaller bettor off with the bigger bank.
Could I ask how you came up with 375 unit bank? I’d be interested to see your calculations as after all we’re all here to learn off each other 🙂
Thank you for your comment and I wish you luck with your portfolio.
Regards,
Eddie
My experience is similar to the above. Have you included the cost of the service into the bottom line?
More importantly its impossible to calculate how much capital is required on a daily basis. I had one tipster gave me 23 selections on the same afternoon. Even at £10 it was way out of my comfort zone.
For me the biggest problem is ( after 30 years looking). I don’t believe that that a long term profitable tipster exists. In a nut shell lack of confidence.
Tipsters who give EW bets are the worst . No confidence from a tipster that can’t the winning selection.
Its up to me to decide HOW I bet.
Hi Peter,
You make a valid point in saying about the cost of the tipster in the bottom line. There is a calculation for doing this which I’ll cover in another article. I think actually Michael has covered this topic as well.
If a tipster is giving 23 selections a day that is fine as it will be a high turnover model but if your bank is not designed to withstand such bets then it’s time to tone down the staking. Should their strike rate and profit over a month dictate that you could make a profit but from £2 bets would that have been more comfortable for you?
Hope that makes sense,
Regards,
Eddie
I was keen to subscribe but do not want to divulge all of my details (Name, Address, Phone, Credit Card etc.) I would have happily subscribed via PayPal but no option for that.
Thanks for the message Harry. We don’t accept Paypal as it is against their terms and conditions to sell anything related to betting through them even though others do. We use BarclayCard to process all our payments and follow all their security.
I have to agree with Ian – I am surprised that you can make a decent profit to such small starting stakes with subs of £184 per month! It’s interesting to note that the most expensive of the four tipsters is the least profitable. Perhaps you should dump him, then the betting bank could be split three ways instead of four and used on the more profitable tipsters.
I also agree with Harry – I have had my fingers burned in the past when not using PayPal on a betting product (NOT Race Advisor).
By the way, I am a bit surprised by the cloud of secrecy surrounding the tipster’s identities – there could have been some referral commissions in the offing if they were revealed. 🙂
Hi PunterPort,
I appreciate that the staking sizes are small but if you read my log article that I linked to in the article you’ll see how I came up with them. The most expensive tipster has actually accrued 60 points so far this month so has already taken over the rest of them as we speak!
The article is designed to be a free resource for people to see how I’ve approached the service not to make money! We will of course make some money if people sign up and use the service.
We here at the Race Advisor are here to provide people with free content so that they can make their own choices and hopefully if following our advice start making a profit.
Regards,
Eddie
Will you be advising the same advised odds as the tipsters? Surely their odds will be long gone before yours are released which makes it even harder to profit? Just a thought.
Hi John,
The above article is based around Betfair Starting Price so no need to include the tipster’s advised price. We do however include that in the service. However the tipster chosen also make a profit to SP as well so it’s not that hard to profit.
Regards,
Eddie