Yesterday was a good one with 2 wins and a place. This follows picks on the 9th Aug where all 4 placed.

Now placed horses on an each way bet generally only produce a profit if the price is greater than 5/1.

To get round this problem I am splitting my stake 70% for the place only and 30% for the win only. This means that if a pick places it often generates a profit sufficient to cover the cost of the win bet if the horse only places. If the horse wins we enjoy the best of both worlds.

For example the first pick yesterday was Tenax and my stake is 10% of bank which is £6.79. Split 70/30 gives £4.75 for the place bet and £2.04 for the win. I place these on Betfair Sportsbook for which there is no commission payable and they offer BOG (Best Odds Guaranteed). See screenshot of the transaction at Horse4course-racetips Facebook.

The horse won and the place bet realised a profit of £2.38 (which if it placed only would have covered the win bet) while the win bet gave a profit of £6.12 - Total profit is £8.50.

If I had placed a standard each way bet the profit would have been £12.24, but if the horse had placed only I would have lost £1.36 instead of gaining a small profit of £0.34.