Pretty much every day I get at least one email that goes along the lines of this…
“If you’re so [choose your own expletive here] good, why don’t you just tell us which horse you’re betting on rather than making us do all the [choose another expletive here] work. I don’t want to make £150 a month, I want a £100 a day!”
Although these are one amongst the many lovely emails we receive every single day about horse racing, they’re still exasperating and make you want to scream.
Don’t worry, I’m not going to!
Let’s look at the insanity of this single statement for a moment
“I want a £100 a day”
Stripped out of context then that’s great, I’m absolutely sure that you do want that. So does every other person living on your street. Heck, there’s a lottery designed specifically to give you this.
But we’re not in the business of selling lottery tickets.
Which brings up the question…
How would you make £100 per day from betting on horse racing?
There are just two steps to this:
- Have a profitable betting strategy
- Have a big enough bankroll
Let’s say you’re making a 5% return on investment over the long-term with your bets. That’s pretty low, but let’s keep it reasonable.
And let’s also assume that you’re placing an average of 4 bets per day, or 1408 bets per year.
If you bet £1 on all those selections you would expect to make a profit of £70.40.
The current UK average savings account is paying back 1.5% per year, which means on £1408 (the amount invested at £1 bets) you would have made £21.12 in your bank account.
So this betting strategy would have generated more than 300% better returns than your bank.
But we’re still way of the £100 a day dream!
£100 a day is the same as £36,500 per year. If you want to make that kind of money every year, then at a 5% ROI you’d need to have invested £730,000.
If you wanted that much from a savings account, you’d need to invest £2,433,333.
Quite a difference.
Investing £730,000 in your betting probably still seems like a fair amount, and it is.
But if we take that across our 1408 bets, then you’d need to be betting £518 per bet. Which, while still seeming a huge amount no longer feels insurmountable.
The issue will be the bankroll, assuming your selection approach requires a 100 unit bankroll, you’d need £51,800 to bet with. Which is kinda a lot of money.
So let’s assume you’ve only got £2500 to bet with, and you start with stakes of £25, and you re-invest your profits then it would take you just 6064 bets to get across the £51,800 bankroll mark.
Of course, that’s theoretical, not every bet will return 5% and you will have downswings to recover from. However, theoretically that’s just over four years at four bets per day and re-investing 100% of all profits.
Is it possible to make £100 a day from your betting? Yes, but you’ve got to have a profitable strategy and the correct size bankroll.
Even if it took you two or three years to get there would it be worth it? For most people I expect it would be more than worth it.
If you’re expecting to make £100 in a few weeks (or months) and you want to invest £500, then you should leave this site immediately.
Which brings me on to the other regular segment of these emails I receive…
“why don’t you just tell us which horse you’re betting on rather than making us do all the work”
I like to answer this question with a question…
Have you ever made any serious long-term profits from a tipster?
Of course, there are some people who have, and that’s great. If you’ve found a tipster that works for you and aligns with all your personal betting preferences. That’s brilliant, keep using them, you’re one of the lucky few.
The majority of bettors answer “no”. Or something like… “well the tipster did really well for a few months, but then they took a downhill turn”… which basically means “no”, because you made a profit for a short period, then lost it.
My simple to answer to the question is…
Why would I share with anybody all the horses I’m betting on?
There’s a perpetual myth that if you get selections from someone who makes a profit from their betting, you’ll make a profit.
Nothing could be further from the truth.
Just because someone else is making a profit from their selections doesn’t meant that you will make a profit from the exact same selections.
Are you wondering why?
There isn’t a single profitable tipster out their who doesn’t bet on his selections himself before he sends the selections out to his members. Which means that they’re going to be getting different odds to you.
That on its own is enough for them to make a profit and you not to.
But then there’s all the other psychological stuff such as coping with the strike rate, managing the downswings, your risk profile, continuing to place bets even when they’ve been losing for three months, not to mention having the correct bankroll size to place bets large enough to see the returns you want.
I used to spend six to eight hours a day analysing races to find my selections. Nowadays I need to make sure that the Race Advisor software is kept up to date, that our algorithms are always bleeding edge, and that we’re constantly developing new strategies and tools. Not to mention answer support questions, working with developers and spending some time with my family. There’s just not six to eight hours a day to focus on finding selections any more.
Some days I’ll make a quick selection when a race comes up that I fancy, such as the 17:50 at Chelmsford yesterday which I was looking at whilst testing our new Monte Carlo simulator, and thought that I could make a quick profit.
Did I?
Yup. I placed a £25 stake and made £17.34 profit. Which I was more than happy with for ten minutes of work.
So when somebody asks me why we don’t provide a tipping service at the Race Advisor in the future, I will point them to this post.
If you’re looking for tipsters, then check out our tipster proofing pages here.
However if you’re wanting to learn how to stop gambling, and to begin making informed betting decisions that will improve your betting and turn into a profit.
Then we’re here to help you. And we will help you in whatever way we can.
Of course I think that the tools, strategies, software and support we provide in our Pro Members Club is the best online, with the best continual development. But I’m biased. However, if you want to become a part of our community and start making informed betting selections. Come and register for our Pro Members Club now.
Hi, Michael, I would just like to say what a brilliant piece of information and hope people take note of it,there are still many con men out there with wild promises of making thousands of pounds per week just waiting to take your money.Many thanks Gordon Jackson.
With a £700k and a 100 unit bankroll you would be betting £700 per point, and a half decent system should be returning at least 10% a month so this represents over 2k a day, so yes very achievable, in fact a good system should be returning 20% on average.
Yup you should be able to get 10% unless you operate a high turnover model. But the key point is, as you said, you need to be investing £700k. With the right bankroll, strategy and mindset it’s possible. Without them it’s not, whatever any marketing material may say.
HI Michael i’ve just joined the race Advisor! i’ve only been betting on the horses for about 18 months and like most people i was enjoying the racing but losing my shirt lol i have tried everything from free tips to £100 a month!and your right nun of them work!! and yet I have not really had time to get to grips with the site but managed 4 winners today yeeeesss and i’m not good with a computer and I have dyslexia so it takes meat least twice as long to get everything done !! i would just tell these people that nothing in life worth having comes easy and as the saying goes give a man a fish hell eat for a day teach him to fish he’ll always have food!soyou teach us to fish/pick the best horse just brilliant……. all the best and thank you
£1000 a day is the same as £35,200 per year????
I was just about to say that, but you beat me to it. Yes, £1000 per day is £365,000 per year. Or £312,000 if you just do 6 days per week.
I was clearly having a bad mathematical day, there were a couple of other errors too! I have corrected the sums, all the way through 🙂
Not quite Michael. If you wanted to earn £365,000 per year, at 5% ROI you’d have to invest a total of £7.3 million. Not 730,000.
I did not do well with my maths in this article! That’s my second mistake. I believe I meant £100 a day, and I was getting mixed up between the amounts and doing sums for different amounts at different times. I’ve changed it to £100 per day, and hope that’s the last mathematical error 🙂
£100 per day sounds better. A lot of people claim to be able to do that trading horses. I’ve made a profit backing horses for years, but I can’t make a living from it, and I just can’t get the hang of trading.