Limit your losses

[waywyrd]

Hi To All,

Firstly apologies if this question has been answered before.

My question is what, if any, is the most reliable way, whether backing or laying a horse race, to minimise or control any potential losses. I guess there is no 100% perfect system, what I'm looking for are suggestions or methods which have the highest % strike rate of limiting the amount of potential loss. I would be placing a bet fairly close to the race start, which if unmatched, I would like to be cancelled completely. Because of the volatility right at the start of a horse race I don't really want to end up placing 2 bets while in-play, I would prefer to be only placing the opposing bet while in play to limit/control potential losses.

For instance I've had both laying and backing systems which have had a decent strike rate, but 1 too many winners when laying can knock a big whole in your profits. And when backing too many losing horses can do the same. Obviously you get wins and losses from either laying or betting, but I feel controlling my losses is key to profiting overall.

Thanks in advance for any useful suggestions or ideas.

Waywyrd.

[ShaunWhite]

There's no perfect way to cut losses at a certain level in-running. Any strategy you have will need to be strong enough to account for the occasional larger loss. The problem you have is that it's an exchange and if you want to back or lay then there has to be someone out there with the opposite opinion. They aren't always very easy to find.

The other issue with stop losses is that they also stop losses on runners that then later go back into profit. You stop the loss at that moment but you're also stop your wins. In most fast moving situations there isn't any mathematical advantage to be had by having a stop loss at all. Let's face it, if all people needed was a stop loss we'd all just be backing everything and never take the full loss, effectively improving the starting odds. Easy.

Stoplosses are really designed for slow moving markets (initially financial) whereby a trader could get some sleep and not wake up to a shocker. They've spilled over into fast paced sports markets and as I said, I'm yet to be convinced they have any real use.

[Anbell]

I would be placing a bet fairly close to the race start, which if unmatched, I would like to be cancelled completely.

If I understand your main question, you need to use a feature called "Fill or Kill"

[ShaunWhite]

I would be placing a bet fairly close to the race start, which if unmatched, I would like to be cancelled completely.

If I understand your main question, you need to use a feature called "Fill or Kill"

Sound like a regular bet. Unless you give it a Keep or TakeSP status, it's just going to lapse at the start anyway.