UK Horse Racing

The UK Horse Racing Bot

Frequently Asked Questions

Q: What sort of racing selections service do you provide?
A: We provide a number of selection systems for backing horses to win, laying horses to lose, and in the future we will be introducing place backing and place laying systems also.

Q: What is the link between your system selections and your Ratings Service?
A: Go to http://www.ukhorseracing.co.uk/OurProducts.asp where you will find an explanation of our Ratings Service. Our systems are all derived from our Ratings and have been developed either in-house or by our community of dedicated members.

Q: Where can I place my bets?
A: You need to place lay bets on a Betting Exchange. If you are placing bets manually you can use any one of several Exchanges. If you are placing back bets manually you can use a Betting Exchange or a traditional bookmaker.

Q: What is a Betting Exchange?
A: A Betting Exchange is like the betting equivalent of eBay, matching people who wish to bet for and against specific sporting event outcomes for an agreed amount of money at agreed odds. If the bet wins then the bettor receives his winnings paid for by the person who bet against the outcome. If the bet loses then the stake is kept by the person who accepted the bet. The Betting Exchange itself, which automatically manages these trades, takes a small percentage of the winnings from the above two scenarios. When a bettor and a layer have been automatically connected the bet is then officially "matched" for both parties. The most successful and currently most liquid Betting Exchange is Betfair, now a multi-million pound company.

Q: Can I use the UK Horse Racing Bot with any Betting Exchange?
A: Currently you can only use the UK Horse Racing Bot with Betfair. This Betting Exchange is the largest and most liquid. We may consider developing a version for other Betting Exchanges in the future.

Q: What is Laying?
A: Laying means you are betting on something not happening, for example for a particular horse not to win the race.

Q: What is the liability of a lay bet?
A: The liability is the potential winnings you would have to pay to a backer should their bet be successful. For example, a backer winning a £10 bet at 4.00 (3/1) would have received £40 back including his stake. If you had laid that bet you would have had to pay out £30 in winnings, the other £10 is the stake returned. You must always have the funds to pay out the potential liability, which is taken by the Betting Exchange until the bet is settled. To calculate the liability you need to take the decimal odds minus 1 then multiply by the accepted stake. For example, 5.50 - 1 = 4.50 multiplied by say £10 which equals £45. Don't worry too much about calculating the liability as the Betting Exchanges automatically calculate it before you confirm your lay bet. Also you can set the UK Horse Racing Bot to calculate the stakes for your lay bets to a maximum pre-set liability amount if required.

Q: What sort of races do your selections cover?
A: Our in-depth racing analysis covers UK and Irish meetings throughout all seasons of the racing calendar.

Q: Do you cover every day's racing?
A: Yes.

Q: How many selections could I receive each day?
A: The UK Horse Racing Bot will import the selections from all the systems you have set it up to follow. Some systems generate very few selections and may not even bet every day. Others may generate multiple selections per race. The level of your betting activity really depends on how aggressive you wish to be, how many systems you wish to follow, and, of course, the size of your betting bank.

Q: How will the selections be available?
A: After your sign up and your payment is confirmed you will be given access to the Members' Area of the UK Horse Racing web site. You can manually access the list of selections for each system on a daily basis. If you subscribe to the UK Horse Racing Bot the software will automatically upload each day's selections for the systems you are following as soon as they become available.

Q: At what time will the selections be available?
A: The ratings and system selections for the following day are usually posted before 11pm each evening.

Q: What odds would I expect?
A: The range of odds varies according to which systems you choose to follow. Whatever systems you follow, if you are laying you should set an odds limit that is in line with your betting strategy and bank. We will give you some guidance on this when you receive information about our model portfolio settings.

Q: Do I require a large betting bank?
A: No, you can start with a betting bank with which you are comfortable. However you should consider this as a business and any business requires an initial investment. You should view your bank accordingly. Also, bearing in mind the monthly subscription cost, we suggest that you should be in a position to start with a betting bank of at least £500, or preferably £1,000.

Q: How much should I stake on each bet?
A: Once again this really depends on how many systems you are following and how aggressive your betting approach happens to be. We cannot give you any general advice here. We strongly advise that you start off using small stakes and apply patience and discipline so that you start to compound your bank and are using profits. If you are laying never risk more than 2.5% to 5% of your bank on any one bet. Your staking plan is important and once you have decided upon your strategy this must be strictly followed.

Q: What is your success rate?
A: You can check out the results of our real time model portfolios for yourself. These will give you an idea of the results you could achieve if you follow them. Of course once you feel comfortable you can construction your own portfolios of systems and you can examine each system's results for yourself on our web site (do not forget to adjust the results realistically for Betfair prices if laying).

Q: Are profits liable to UK tax?
A: Profits derived from UK Horse Racing are not currently subject to tax.

Q: How do I join?
A: It's easy and simple to subscribe to our service by visiting our Sign Up page.

Q: How do I cancel my membership?
A: Just tell us and we'll cancel your membership removing your access details and contact information from our members list.

Q: Do you have a maximum number of members?
A: Yes we do. The number of subscribers to UK Horse Racing Bot is limited to ensure that we protect the market liquidity of our system selections so that everyone has an equal chance of placing their bets at sensible odds. Once our subscriber limit is reached we will maintain a waiting list.

Check out the Features & Benefits of the UK Horse Racing Bot.

Contact: malcolm.smith@dragondrop.com