MoneyBet is a relatively long standing horse racing tipster service which is operated by Dan Watson and managed by WAP Tipsters. It is claimed that the service has produced some substantial profits.
Introduction to MoneyBet
I’m always interested in new angles and approaches when it comes to betting. And if a tipster service pops up that talks about these you can be assured I’m interested. Doubly so if it applies to horse racing. Because really, betting on horse racing hasn’t really had any drastic changes since the advent of the betting exchange. And it is with all of that in mind that I am actually quite excited for today’s subject.
You see, according to Dan Watson, he’s got a few different angles for horse racing. And having applied them, he’s seemingly built a substantial amount of profit. “£45,250 IN PROFIT SINCE OCTOBER 2019!” we’re told. That’s a hell of a result, and the strong implication here is that MoneyBet can do a similar thing for you too. Factor in that WAP Tipsters are in many respects a very respectable tipster stable, and it’s hard not to see the appeal here.
Of course, there are two sides to every coin, and whilst I don’t doubt that Dan Watson has achieved the claimed results so far, they are far from indicative of how MoneyBet has performed more recently. A fact that even WAP Tipsters couldn’t ignore. But does that mean it’s a bad service? Well, there is a rather nuanced answer to this.
What Does MoneyBet Offer?
There is a lot about MoneyBet that stands out to me as being quite different to a lot of tipster services that are currently on the market. And I will get to these, but first of all, I want to talk about where Dan Watson has that overlap with other tipsters. After all, there can only be so much difference from one horse racing tipster service to the next.
If there is one area where MoneyBet definitely is like other services on the market, it is the approach of those logistical elements that are managed by WAP Tipsters. Now, I want to clarify that this really doesn’t mean that they are bad. Because I’ve definitely seen much worse than MoneyBet in action before now.
What it does mean however is that the overall experience that you get is in line with what you would expect.This means that selections are issued on a near daily basis (Dan Watson does appear to have a very occasional no bet day). WAP Tipsters also send them out directly via email to subscribers, with the content of said emails being pretty decent including information on what odds are available at the time Dan Watson posts them. And that is key. Because the odds do tend to drift.
The fact is that whilst you get everything that you need in order to get those bets placed etc. I do feel like their could be more consideration of the information provided. For example, WAP Tipsters proof MoneyBet to BSP. This isn’t a terrible thing as it means that everybody gets a reasonable shot at getting those odds. But that doesn’t mean that Betfair is the defacto best option.
The truth is that despite the insight that Dan Watson provides, it brings me to the fact that I definitely would look to recommend using an odds comparison website. To reiterate a point a bit, whilst the odds might be good for him, that doesn’t mean they will be for you. As such,I personally believe that it’s very important to make sure you’re getting the best possible returns in the long run.
Whilst I’m on the topic of the bets themselves, MoneyBet is a healthy mix of both straight win and each way bets. You definitely see more of the former, but this is ultimately down to the fact that by and large, Dan Watson only recommends an each way bet on those longer shots. And, as you would expect, there are less bets at those kinds of odds. It all just makes sense.
On top of this, it is a welcome thing to look at WAP Tipsters’ proofing and see that MoneyBet is a very manageable service in terms of volume. Most days will produce no more than 5 selections or so. This low number means that you shouldn’t have to spend too much time seeing where the best potential value is, and getting those bets placed. It also means that in theory, your drawdown is managed and never excessive.
I say in theory, because the staking plan that Dan Watson actually recommends is quite intense. You see, there are three different levels of staking depending on the bet. Straight win bets are advised to be backed to 5 point level stakes. Each way bets are advised at 4 point stakes (2 points each way), and the few very long shots are advised to be backed at just 2 point stakes (1 point each way).
This can mean that even though you’re only dealing with 5 bets per day, you’re potentially staking 25 points per day. That is a hell of a lot if you ask me. Especially in light of the fact that I haven’t seen any advice on this from Dan Watson or WAP Tipsters. Realistically, if I were following MoneyBet, I’d want to have at least 300 points to play with although, I’d probably want to err closer to 500.
It is worth noting that as well as this core staking plan, Dan Watson and WAP Tipsters also offer a compounding staking plan. This drastically increase the potential returns for you. So much so that the headlining claim of £45,250 skyrockets to £225,959.
Now, coming back to the betting bank. I know that 500 points might sound high, but I’d ask you to consider the strike rate for MoneyBet. This comes in at just 32.49%. Now, looking at the average odds, that seems pretty good. But the fact is that most of the wins are those smaller odds wins.
As well as the core tipster service, I think that it is noteworthy that Dan Watson and WAP Tipsters provide access to a free system when you sign up. This provides a number of additional “statistical micro angles to make some extra money on top of [Dan Watson’s] service profits”.
How Does MoneyBet Work?
Now we come to the aspect of MoneyBet that I am by far and away the most excited about. And that is the way that it all works. Because, to come back to that introduction, I’m keen to look at Dan Watson’s angles. Some insight into this is available in that aforementioned guide, and I won’t be breaking this down into detail here (at the end of the day, WAP Tipsters have it behind a pay wall and it wouldn’t be fair to Dan Watson for me to publish anything freely).
What I can say is that I believe that this offers some insight into the selection process behind MoneyBet, and it is very interesting. Ultimately, what Dan Watson does is looks at a large number of different elements. These can range to quite broad and (dare I say) somewhat obvious. Then there are things like looking at individual trainers and even specific races where their horses perform. Seemingly, he then layers these elements together, however, this is speculative on my behalf.
The truth of the matter though is that Dan Watson and WAP Tipsters don’t really talk about this. And that is a little bit of a disappointment in my eyes because so much of the sales material for MoneyBet is dedicated to these angles. But, I don’t really see it as being a deal breaker either. The fact is you don’t come into this blind.
Something that is definitely helped by the fact that WAP Tipsters provide very comprehensive proofing for MoneyBet. This means that even if you don’t have the exact details about the selection process, you can get a decent idea of the ebb and flow of the results. This is something that is very insightful in terms of the longer term potential here.
What is the Initial Investment?
If you want to sign up for MoneyBet, there are wildly differing options. Especially in terms of the value that they offer. The worst value option by a country mile is the “monthly” subscription. This is priced at £49, but it is also charged every 28 days. This means paying out 13 times a year.
There is much better value in the quarterly option. This is priced at £98 for 3 months (an effective monthly cost of less than £33). At the time of writing, WAP TIPSTERS are also offering your first quarter at a massively reduced cost of £58.80. The best value however comes from signing up to MoneyBet on a 6 monthly option. This is priced at £99, however, this isn’t a subscription.
One thing that is worth noting is that WAP Tipsters don’t actually provide any sort of money back guarantee or refund period on their tipsters. This is a touch frustrating, however, it is also very much standard for a lot of if the industry. As such, this doesn’t count too much against MoneyBet.
What is the Rate of Return?
I’ve already mentioned the numbers that Dan Watson and WAP Tipsters claim for MoneyBet. That is to say the claims of £45,250 and £225,959. Both of which are based off a profit of 905 points. A number that is very close to the peak profit which was attained in just 4 months. What is important to keep in mind about this however is the staking plan that is involved.
The fact is that whilst I don’t believe that this approach has been taken with a view to boosting the profits, there’s no denying the fact that it does. It wouldn’t be unreasonable at all to divide that number by 4 in order to account for these larger stakes. You can also use the ROI which to BSP (the most profitable approach) sits at 18.05%.
But here’s the bottom line for me. Whilst MoneyBet may well have peaked around 900 points, September ended at just 495.58 points. That is a massive loss to have been incurred. We’re talking about 5 straight months of losses. This is somewhat offset by the fact that October is currently showing a profit, but it’s a long way from convincing.
Conclusion for MoneyBet
It is quiet apparent to me that there is at least some merit to MoneyBet. Whilst I could complain about inflated stakes for days, the fact is that the result up until February were impressive. Even bringing the profits down to “equivalent 1 point stakes” you’d be looking at some 225 points. So it is very clear that Dan Watson can produce a profit.
With that said. It is also very hard to ignore the fact that this hasn’t been achieved for 5 months. And we’re not really dealing with miniscule losses either. In September, MoneyBet lost 173.6 1 points using the recommended staking plan. I don’t care how you want to dress it up, that’s a massive loss.
And on top of this, I think that the pricing structure that exists is a long way from ideal. Really, you have two different options. Either pay out a large amount of money for a long subscription or less money (but still quite a lot) in order to get that monthly subscription. That makes it rather difficult to look at MoneyBet and say that there is value for money to be had here.
With all of that said, I don’t think that MoneyBet should be entirely written off. It’s difficult to say that a tipster who hit 900 points in 4 months can’t turn things around. Will he make up the some 400 points lost from that peak? That is a very big ask. Put bluntly, it’s a significant amount of money to make up.
So, would I recommend MoneyBet? The short answer is that no, I don’t think that I would. Simply because Dan Watson might find his form again, that doesn’t mean that you should keep sinking your money into it. And with 5 straight losing months, that is a pretty solid looking pattern. It isn’t even like you aren’t paying out a lot for the risk that you take on.
Don’t get me wrong, I do believe that this is worth keeping an eye on. Because if the results could be turned around, MoneyBet could well be something that is genuinely worthwhile buying into. But that is a pretty big if as it stands.