The £50k Formula is a new horse racing tipster service that is supposedly offered by Dave Morrison. It claims to offer subscribers a rather substantial profit with no real work involved.
What does the product offer?
The £50k Formula sales page actually starts with a warning. This is definitely a new approach to me and from a marketing point of view, it definitely caught my eye, so good job I guess. What the warning says however is much more indicative of what you can actually expect:
“This controversial website may be upsetting to a few misguided readers who’ve been deceived, mislead and sold betting systems that promise the world but deliver nothing. Listen up as this…”
I am well versed in the number of questionable tipster services which are on the market at any given time and so I was interested to see whether The £50k Formula was the real deal.
The fact is that if I have seen this claim once, I have seen it a thousand times and I don’t recall many tipsters that say they aren’t a get rich quick scheme that turn out to be genuine. None the less, I decided to come into The £50k Formula with an open mind and see whether or not Dave Morrison is really able to generate profit for users or whether or not this is the work of an internet marketer who is simply looking to cash in on the horse racing niche.
In terms of what you are actually getting, the sales material for The £50k Formula gives very little away. This isn’t the best start, but I can divulge some information here. Dave Morrison provides selections to The £50k Formula subscribers on a daily basis with said selections sent out via email. There are supposedly a multitude of bet types issued (Dave Morrison refers to betting on “win, each way, doubles, trebles bets, etc”) however there is no evidence of this to date. Emails are typically sent out before 11am.
This only really leaves the numbers side of the logistics and honestly, it comes as no surprise to me that this is unfortunately lacking. For example, despite the claimed income being a pounds and pence figure as well as being the driving sales point, there is no staking plan. Dave Morrison says that you can bet whatever you want on The £50k Formula stating “there is no maximum or minimum staking requirements”.
There is also no published strike rate for The £50k Formula. There is also no proofing provided which is massively disappointing given that Dave Morrison refers to his daily tips as having “A Proven Track Record For The Past 60 Months”. The implication here is that records have been kept but not published. This doesn’t just count as a general strike against The £50k Formula, but it also makes me very suspicious of how genuine the service really is.
How does the product work?
Dave Morrison claims that he has been developing the process behind The £50k Formula for 5 years. This sounds impressive and with some information to back any of this up, that may be the case. In line with what little The £50k Formula has delivered so far, there is no real evidence for this. All that we are actually told is that The £50k Formula doesn’t involve arbitrage betting however this doesn’t really say anything at all.
Truthfully, the sales material for The £50k Formula seems to be much more concerned with selling Dave Morrison’s narrative. Just like so many people, he spent a fortune on betting systems (specifically lay betting systems). He also nearly bankrupted himself betting but of course, he didn’t give up. He worked hard and created this perfect system that has finally made him money. Now he is finally in that small percentage of people who profit from horse racing. Again, you will notice that this doesn’t actually tell you anything about how The £50k Formula’s selections are found.
What is the initial investment?
There is only one option if you want to sign up with The £50k Formula which is a year long subscription. This is priced at £52 which works out at less than £4.50 per month. Fortunately, payment for The £50k Formula is handled through Clickbank which means that there is a 60 day money back guarantee in place. For what little credit I can give to Dave Morrison, there is transparency about this fact as well.
What is the rate of return?
As the name of the product suggests, the key selling point is that you can supposedly make in excess of £50,000 in a year through betting. More specifically, this is based on a claim by Dave Morrison that he made over £56,600 last year. Not surprisingly there is very little evidence to back this up outside of a questionable screenshot of a Betfair account which supposedly has £50,894.61.
I feel that it is important to readdress a point that was raised during the look at staking for The £50k Formula. This relates to the fact that whilst Dave Morrison claims to have made over £50,000 there is no mention of stakes used etc.
Services like The £50k Formula come along every other week and unfortunately, they are often less than genuine. There are usually bold claims about profit, a narrative that overrides anything of substance and of course very little proof to back anything up. In the case of The £50k Formula, Dave Morrison does give us a highly questionable screenshot of his Betfair account. Personally, I have never understood why we are supposed to believe that somebody who relies on betting for a living would leave all of their money in a betting account. Unfortunately, it is the only evidence that we really see.
Looking at The £50k Formula like this, I strongly believe that it is little more than an exercise in slick marketing rather than a genuine tipster service and this is definitely a problem. The fact of the matter is this, a genuine tipster will always want to protect their name and brand. This means that even the worst of them will aim to demonstrate that they are constantly working to improve their service. Things like The £50k Formula however appear, encourage initial sign ups and then often disappear after 3 months of results that are at best, still a million miles away from those claimed.
In the case of the vendor who is selling The £50k Formula on Clickbank, there have been numerous other products before The £50k Formula including Place Kings. Another service which was only discussed positively because it was free. I believe that this speaks volume about my opinions.
All of this comes together to create a tipster service that claims to offer a lot but does nothing to back it up. There are plenty like this so I am far from singling The £50k Formula out, however it doesn’t change what it is. I believe that it is becoming increasingly difficult to find genuine tipster services however this doesn’t mean that you should stop seeking them out. With this in mind, I simply can’t recommend The £50k Formula for quite justifiable reasons.