Betfair Backing (Final Update)

| August 29, 2018 | Reply

ALL UPDATES IN BOLD

Product Name:

Betfair Backing

Company Name & Contact Details:

The Betting Mastermind – Stuart Neill
www.thebettingmastermind.co.uk
admin@thebettingmastermind.co.uk

Price:

£34.99 per month. The website states that “reductions are available on longer term subscriptions” but doesn’t give any details of exactly what this might be.

There is also a “special offer” currently running whereby you can take annual membership of both Betfair Backing and The Betting Mastermind for a combined £299.99, saving over £350 against the cost of twelve monthly subscriptions.

Money Back Guarantee:

The web site states that the monthly subscription is covered by the default 60-day Clickbank guarantee. However, when you click to buy a subscription it diverts you to a PayPal payment screen!

The annual special offer deal is offered with “no refunds under any circumstances”.

What Do You Get?

Daily horse racing selections delivered by e-mail to be backed to Betfair SP.

Where to Buy:

http://www.thebettingmastermind.co.uk/betfair-backing

Brief Summary:

Daily UK horse racing selections to be backed at flat one-point stakes to Betfair SP. All selections are singles and on average there are two selections per day, although the actual number on any one day can range from no bet to four or five selections.

How Much Money Do I Need to Get Started?

A 100-point starting bank is recommended.

How Much Money Can I Make?

The web site quotes a target annual return of 130-points profit. In the past two years of testing an average of 192-points profit a year is claimed.

How Much Time Will I Need to Make This Work?

Literally minutes daily when the e-mail is received, usually between 6 and 9 a.m., although it has stretched out as late as midday on one occasion and as early as the night before.

Will I Need Any Equipment to Do This?

A mobile device, laptop or PC with internet connection, and a Betfair account.

Value for Money?

Early signs are very encouraging in this direction, but we’ll hold fire until the full three months review is up before offering a definitive answer. Unfortunately, the promise of the first month ebbed away during the review period and we were left with an overall loss after taking into account the cost of membership. On that basis we are unable to award a VFM pass for the review period.

Quality of Customer Service?

Stuart takes his customer service very seriously and replies to queries within 24-hours. I have always found Stuart to be professional, friendly and courteous in all dealings I have had with him.

Review

Brought to you by Stuart Neill, the man behind The Betting Mastermind laying service, Betfair Backing is a simple, straightforward service utilising Betfair SP. After three years of testing and fine-tuning in the background, the service finally launched publicly in May 2018. During the testing there were 350 tips per year on average and a strike rate of 31% was achieved across the period.

All selections are backed to one-point stakes at Betfair SP. The big advantage of using Betfair SP is the transparency of results, as everyone gets the same price regardless of when they place the bet. This also relieves the pressure of having to act as soon as the tips are received to secure the advised price, as is the case with services using traditional bookmakers.

Just like the service, the e-mail is simple and straightforward and simply lists the meeting, race time and horse for each selection. With no complex staking plans or hunting for best odds, this service can be implemented quickly and at your convenience (up to race time!).

There really isn’t a huge amount more to say as it really is that simple. The key will be seeing how the results fare against the claims made for this brand-new service.

Results – Month 1 (28th May to 27th June 2018)

Ironically, the first day of our review was the busiest day of the month with five selections. However, with two of those tips winning we started with a daily profit of 5.52 points (after deducting our 5% Betfair commission). Despite some ups and downs the profit continued to grow throughout the month and was helped significantly when Caspian Prince won at Musselburgh at a Betfair SP of 24.72. By the end of the first month of the review we were sitting on 23.19 points profit (after Betfair commission).

The strike rate in the month was 28.3%, so well in line with the 31% average claimed from the testing period for the service. The average odds in the month were 28.22, although this was inflated significantly by a 1,000 Betfair SP on one selection! Without that the average was actually only 9.53.

The return on investment (ROI) achieved in the month was a very pleasing 43.75%, with a 23.19% return on capital (ROC) also enjoyed.

There were 53 selections in the month, with the busiest day being five selections, and seven days being “no bet” days.

Results – Month 2 (28th June to 27th July 2018)

We saw less action in the second month compared to the first, with 42 selections in total and nine “no bet” days.

The strike rate fell to 19.05% (eight winners) and, with the average odds of winning selections remaining constant around 5.2 – 5.3, that led to a small loss for the month of 1.8 points. Overall we are now looking at a profit of 21.39 points at an ROI (Return on Investment) of 22.51%. After deducting the cost of the service we are still sitting on a net profit of £144 at £10 flat stakes, with an ROI 0f 14.11%. However, this is considerably below the level claimed from the testing period and so we wait to see if the level in Month 3 pulls the average up closer during our review period.

This month we endured losing streaks of eight, nine and ten selections, all of which were longer than the worst run in Month 1 of seven.

Highlight of the month was Art Echo’s victory at Wolverhampton at a BSP of 13.0, which somewhat “saved” the month.

Results – Month 3 (28th July to 27th August 2018)

The number of selections this month was back up to the levels we saw in Month 1, and there were just five “no bet” days. However, whilst month 1 delivered 15 winners from 53 selections, this month we saw just nine from 52, a strike rate of 17.31%, the lowest of the review period. Combined with the average odds of winning selections falling to 3.75 (11/4), we were left with a loss for the month of 19.53 points, after deducting Betfair commission on the winning selections.

The average odds in the month were 28.17 although, as in Month 1, this was inflated significantly by a 1,000 Betfair SP on one selection! Without that the average was actually only 9.11.

Over the three months of the review we have made a tiny profit of 1.86 points. However, after deducting the cost of the service this becomes a small loss – £86.38 if betting at £10 per point and £12.00 if using £50/point stakes. The strike rate across the review period was 21.77%, which is almost 10 points down on the historic average claimed of 31%.

Summary at End of Month 1

Those of you who are regular readers of the reviews will know that I am a firm believer that one swallow doesn’t make a summer. However, this is a very encouraging start from a new service and we wait to see if the momentum can be carried on to the next two months.

Summary at End of Month 2

Obviously a disappointing month after the first month had gone so well, but that’s the ups and downs of sports tipping and why we use a three-month trial period. Month 3 now holds the key as to which of the months we have seen so far proves to be the norm.

Summary at End of Month 3

Unfortunately, we saw the cumulative profit virtually wiped out this month. Previous months had been helped significantly by winners at 24.72 and 13.0 respectively, but this month’s best performance was a 6.4 winner and the impact was evident. With a net loss after the membership fees, I am awarding Betfair Backing a two-star rating based on the review period.

Remember, you can follow the ongoing fortunes of this service and over 120 others at The Tipster League.

The full list of results for the review can be found here.

 

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Category: Betting Systems

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