Elite Racing is a new to market horse racing tipster service that is being operated by Mel Gee and offered through Bet Chat. The service aims to operate in a different way to most tipster services.
Introduction to Elite Racing
When it comes to tipping, there are elements that are objective, elements that are subjective, and a weird amount that sits somewhere in the middle. Of course, this doesn’t really make much sense. I completely agree. But the bottom line is that something can be objectively good or bad, and subjectively be the opposite. An example I almost always pull out is that arguably the most profitable tipster service I ever looked at is one that I almost categorically wouldn’t recommend. This is all very important to keep in mind for this review.
You see, today’s offering comes courtesy of Mel Gee. He is a well known name in the tipping industry and it is very clear he knows what he is doing. Results often speak for themselves. As I will refer back to many times over the course of this, Elite Racing is a fundamentally good service. I don’t normally like putting that kind of statement in an introduction, but I think that it’s pretty self evident here. The way Bet Chat market the service, they know full well that they’ve got something good.
Original Link: https://www.marketprospectors.com/order1630417521148
And so, you may be thinking, what more is there to review? Elite Racing is decent. Mel Gee is a respected name. What could be wrong? Well, a fair amount of it is subjective, but it definitely warrants some explanation in my mind. Because whilst there are undoubtedly a huge number of positives to this service, this isn’t something for everyone. I don’t believe that this necessarily negates what is good about the service, but there is definitely more food for thought than Bet Chat make out. So, let’s get into it.
What Does Elite Racing Offer?
Most of this review is going to be glowing. That is with good reason. But like I mentioned in my introduction, I think I really have to be honest and upfront about everything that you are getting into with Elite Racing. You see, whilst I have very little doubt about Mel Gee’s abilities, this isn’t something that will really suit everybody.
As far as the fundamentals of the service go, Elite Racing is all pretty straight forward. But at the same time, the approach that Mel Gee has taken means that there is very little reasonable way of saying that this is a typical tipster service. Because it categorically isn’t. In fact, there is almost nothing here that I would say is “typical” as far as tipster services go.
First things first, let’s talk about the management of the service. Now, I don’t know how much involvement Bet Chat have or whether they’re just marketing (there is a lot of overlap between certain tipsters and companies), but I would say Elite Racing is adequate. The fact of the matter is that Mel Gee doesn’t really have a huge amount that he’s necessarily working with, as such, there is little reason to complicate things.
One area where I think Elite Racing does diverge a little from a typical experience is the inclusion of a members only group chat. This allows you to interact not just with Mel Gee, but other members. This is all handled through the Telegram App and if I’m really honest, I don’t know why this sort of thing isn’t done more often. Perhaps it will be the future. But it is definitely welcome.
Now, let’s talk about the bets. Bet Chat are keen to point out that Mel Gee can measure his betting history in decades. There is no denying that. The guy has been around for a long time and that is definitely the case. Because he was around at least 8 years ago with a similar approach to that which is taken with Elite Racing. Something that I feel you can take a number of different ways.
Firstly, this is a very low odds service. Incredibly low, in fact. For some context on this, Bet Chat actively brag about a recent stellar performance whereby wins were tipped at 11/8 and 9/4. You really aren’t dealing with huge winners at all. But in many respects, I think that Mel Gee would agree that this is the point of Elite Racing, as will become apparent as I start to look at other elements of the service.
Building on this, as you would probably expect from a service with these kinds of low odds, you’re only betting on a horse to win. Frankly, it doesn’t bear thinking about what kind of each way odds you can get on odds that are frequently less than 2.0. Which is of course incredibly typical of what you can expect from Elite Racing.
Something that I feel is probably a little bit less expected are is the incredibly low volume of Elite Racing. Bet Chat specifically state that you can expect to receive just 1-2 bets per week from Mel Gee. Whilst this number will supposedly increase during major racing festivals, you aren’t really paying for a lot here.
With all of that said, let’s look at why all of this happens. There are two key points that Mel Gee makes in relation to how Elite Racing works. Firstly, it is recommended that you only have a betting bank of 20 points. This is significantly smaller than most other tipster services with the marketing material actively pointing this out, and specifically calling out services that request having a 100 plus point betting bank (something that is actually quite pertinent).
It also means that whilst you’ll still ultimately only be dealing with lower stakes, the amount per point that you are betting will undoubtedly be significantly higher than if you have a more… shall we say, forgiving betting bank. In theory, that does go some way to offsetting the lower odds, and so long as you maintain a decent strike rate, that is all ok.
Which brings me to the final point. In theory, Elite Racing has delivered on this front so far. The sales material makes direct reference to a 63.6% strike rate and also says that Mel Gee has had no long losing streaks. This is all quite impressive, and I am inclined to say that I probably believe that this has been the case whilst he’s been proofing (seemingly through Bet Chat), but longer term… I’m just not quite as convinced.
How Does Elite Racing Work?
Like I said at the start of all of this, Elite Racing is fundamentally very simple. Mel Gee’s philosophy here can be quite easily distilled to the notion that if you win often enough, it has a huge knock on effect on… well, pretty much everything related to your betting. And this is how Bet Chat present the situation.
This is evident in things like the odds, for example. Using the examples that I mentioned earlier, 1 point on each bet would have seen a profit of just 3.63 points. That isn’t a huge return at all. Especially when you also consider that this is based off 2 bets, and as such, it should be seen as a decent result for Elite Racing. This is also something that Mel Gee rather skips over.
With that said, the approach taken also means that you’re betting significantly more per bet. I normally work off a £1,000 bank which is converted into 100 points (that number that Mel Gee says isn’t good enough for Elite Racing) or £10 per point. Here though, that 20 point bank would mean £50 per bet. As such, the direct fiscal returns are increased.
Rather unfortunately though, what we don’t really get with Elite Racing is much insight into what the selection process for… well, anything is. This is a bit of a problem in my mind, not least of which is because you’re effectively paying for selections that are if not actually, very close to favourites. All that is said is that you’re basically betting on the right horses in what should be the right race for them where they have that higher chance of winning.
What is the Initial Investment?
One of the biggest problems when it comes to Elite Racing is… well, it’s the cost. There is no real way of getting around the fact that… well, it’s bloody expensive. Mel Gee and Bet Chat have two options available. The first of these is a quarterly subscription which is priced at £129.97. Alternatively, there is an annual subscription which represents a quite significant saving at a cost of £399.97.
Whichever option you go for, Mel Gee and Bet Chat do say that there is a 30 day money back guarantee in place for the service if you purchase the quarterly subscription. If you sign up for the full year, this is extended and you get 60 days to claim a refund. Of note is that both of these do seem to be vendor backed so if Elite Racing isn’t for you, you are ultimately relying on them to stick to their word (not that I think they wouldn’t I should add).
What is the Rate of Return?
Over the proofing period Mel Gee enjoyed through Bet Chat, he has seen an increase in his betting bank of 33.9%. That isn’t necessarily bad, but I think that there’s a lot to be said for the limitations of Elite Racing. Whilst I fully appreciate the approach taken, and I respect the idea here a few bets per week at low odds will only ever yield small results. Whilst they may well add up, that is something that you really have to think hard about if you’re considering this.
Conclusion for Elite Racing
Like I’ve said multiple times. I believe that this is a fundamentally decent service, but that doesn’t have to mean that it’s one I would recommend. This isn’t something that is frivolously decided on either. There has been a lot of consideration gone into Elite Racing because… well, there isn’t much like it on the market.
There are a few problems that I have here. The first one is the betting bank. I can appreciate Mel Gee’s point about having oversized betting banks, but there is nothing wrong with being prudent and preparing for longer losing streaks. Here’s a newsflash for you, they do happen. Even favourites only win about 35% of the time. With low odds, that isn’t sustainable profit at all.
Of course, Elite Racing is more than just betting on favourites, and 20 points might be enough. But what always concerns me here is the dismissal of sensible and sustainable betting. That suggests to me that what Mel Gee is doing, in a very roundabout way, is asking you to take on more risk to make his profits justifiable.
Is it a part of a genuine strategy? Probably. Will Mel Gee pick winners more often than 35% of the time? I’d hope so. But the thing is he has to do that for everything to work. The selective approach isn’t bad, but you don’t have much room for recovery if you do hit a bad run (which is possible during the higher volume festivals). The returns on investment may be good, but in real world terms, you have to really put down some huge bets for Elite Racing to make sense. It is all additional risk.
Adding to all of this is the fact that you are ultimately being asked to pay out quite a lot of money to take that risk on. However you want to dress it up, I think that Bet Chat and Mel Gee are asking quite a lot for a couple of tips a week. Tips that, I would hasten to add, are still just favourites (or near favourites) really. Which is why that lack of insight into the selection process is so problematic. What are you actually paying for here?
Make no mistake, Elite Racing might work out at the top end of what I’d consider to be an average price (£43.33 per month), but you’re paying a lot out in one go. Which really begs the question of whether or not there is value for money to be had here. And unfortunately, I just can’t see that. Not at the costs, and what you ultimately get for it.
Again, I believe Elite Racing probably isn’t bad. I think Mel Gee can probably make you some money. And just 1 point of profit per month, if you started with £1,000, would cover your subs. But the truth is that this isn’t something I see working for most people. Some will love it, and I can see why. I’ve said enough times that I don’t think Elite Racing is bad. But there are proven betting systems out there that outright cost half than 3 months of this. A service that, whilst picking favourites well, is still just picking favourites.
