Power Bets is a new to market horse racing tipster service that is bring provide by WAP Bets. Following some initial consistent results, this has launched with considerable fanfare from the tipster stable.
Introduction to Power Bets
It is interesting to me how things in the tipping industry often come full circle. Names, concepts, even entire narratives are reused. Services get relaunched under new branding. It’s not always easy to navigate. Usually though, this is the kind of thing that you only see from the more… questionable elements out there though. The kind of “tipsters” who are more concerned with marketing than making something tangible. As such, it was quite surprising to me to learn that WAP Bets have used the same name for a new service, less than a year later.
Now, under normal circumstances, I’d write this off. I wouldn’t actually take the time to look at Power Bets. Because normally, it is the same thing in a new coat. But this actually looks different. I’ve been back and looked at everything that pertains to “Power Bets” as it was, and there is no overlap. And because of the results that WAP Bets are claiming for this new version, well, I’d be mad not to have a look. Because the scores on the doors here are genuinely quite impressive, with profits to SP, BOG, and BSP. A rare trinity.
Furthermore, to look at the sales material for Power Bets, this has all been achieved with quite remarkable consistency. Something that is an unfortunate rarity when it comes to a lot of tipster services. With all of that said, it’s still early days here. WAP Bets talk about how they’ve been proofing this since September, and whilst the results are promising, you aren’t exactly dealing with a huge data sample size. So, with all of that said, let’s get into this and see whether or not it has the ability to produce long term.
What Does Power Bets Offer?
Power Bets is really quite a simple tipster service. This is something that is quite welcome to me. In recent times, I have seen a lot of tipster services that are really quite complex. This also isn’t a bad thing. But I do feel like when you start to have complications to a service, it puts up walls about how it is probably best suited to.
This is why I’m really quite interested in Power Bets specifically. As I want to explore, there is quite a lot of betting here, and that inevitably has a knock on effect on certain elements of the service. But by and large, I feel like this is something t hat most people can get on board with. And that isn’t something that you get to say every day.
So, let’s talk about how exactly it is so simple. This starts with how WAP Bets manage the service. I think it’s fair to say that if you’re following Power Bets it is a wholly unremarkable affair. You’re given all of the information that you need to get bets placed, they are sent out by email, and you have a decent amount of time to get bets on. It is about the bare minimum.
I know that sounds critical, but honestly, WAP Bets are just doing what is pretty much industry standard. Of course, I always want to see more. But Power Bets isn’t any worse off than most services that you see on the market in terms of management.
Realistically, if I were following this long term, I would want to try and take advantage of an odds comparison site. You see, whilst Power Bets has produced a profit across the board and to all market prices, there is still a substantial difference. As such, finding the best possible odds you can get can mean a very significant difference in terms of the profit potential. This applies doubly so when you start breaking down the profits.
There is however a minor issue with this. At least, some of the days. You see, WAP Bets’ proofing shows that historically, you may see as many as 8 bets on a given day. This isn’t a one off either with this happening on numerous days. On one occasion, it was 2 days on the trot. That is a lot of work if you’re trying to seek out best odds, but I do feel it is necessary.
This is in no small part because the odds here have a substantial disparity. The range for Power Bets runs from evens all the way up to 25/1. For a service that is only backing to win, those are some pretty big shoes to fill. Sure, those bigger bets have actually come in here and there, but they are definitely the exception to the rule. As such, I do feel like you rely on the smaller bets to carry your bank. Maximise them, keep your bank as healthy as possible.
Once again, let’s start tying all of this together. Of course, having a healthy betting bank is a positive. But why is it so important with Power Bets? Well, a glance at the proofing shows that all of the bets are backed to win at stakes of 2.5 points. Inevitably that has implications for the profit, but also the losses that you can potentially incur.
This happens quite often too. Even in the last week or so, Power Bets saw a losing streak of 12 bets. Over the course less than week, you would have been down 30 points. That is quite significant. Of course, this can all be offset and managed with a decent betting bank. But when losing streaks of more than 20 points are quite commonplace, that is always a cause for concern.
In theory, all of this should be offset by a strike rate for Power Bets that currently averages at 27.74%. A commendable enough number. But I’m uncertain about whether or not this kind of result can be sustained in the long term. Something that WAP Bets don’t seem to want to consider.
How Does Power Bets Work?
The headline for Power Bets is quite telling. It says, “TRANSFORM YOUR BETTING WITH THIS POWERFUL BETTING INSIDER”. That is your first clue to what you’re supposedly getting into. The marketing tone that WAP Bets take for this doubles down on this a little bit by going on the offensive for other tipster services. Something that I always consider to be a bit of a red flag if I’m hones.t
Specifically, WAP Bets say, things like “Horse racing tipsters are getting too predictable!” and that “Favourite picking ‘experts’, empty promises of infinite riches and origin stories pulled from a hat like a white rabbit, we have seen it all. We are tired of it, and you should be too”. It all sounds promising, until you realise the implication that in buying Power Bets “you shouldn’t have to settle for mediocre”. Because the service apparently uses a “selective and disciplined betting approach”.
Now, I am a little doubtful of all of that. If I’m really honest. Because a service that bets as often (there are only a few days off) and at as high a volume as Power Bets seems to doesn’t exactly suggest a selective or disciplined betting approach. All of this means that in my mind at least, there are some pretty big question marks that hang over the selection process. And that is something that we should really have some insight into.
Instead, Power Bets seems to be based around throwing a lot at the wall and seeing what sticks. A rather delectable irony given the tone of the marketing. What I will say however is that WAP Bets do at least provide some very comprehensive proofing. This shows you every bet placed since they started working with the tipster and paints a pretty good picture of what you are actually getting.
What is the Initial Investment?
If you want to sign up to Power Bets there are a few different options available that differ quite significantly in terms of the initial outlay, and the value for money to be had. Firstly, WAP Bets offer a monthly subscription. This is just £15 for your first month, after which the cost rises to £45 per month.
There is much better value to be had if you sign up to a quarterly subscription though. This is just £90 per quarter, but also comes with your first quarter at a drastically reduced price of £30. That makes for an incredibly accessible way into Power Bets.
The best value comes from signing up to Power Bets long term. This is a 6 monthly subscription and is priced at £150 every 6 months. WAP Bets are however offering your first 6 months for just £50, meaning you’re paying the equivalent cost of less than £8.50 per month for your first period.
What is the Rate of Return?
At the time of writing, Power Bets is at a profit of about 190 points. This is as we’re approaching the back end of January and about 4 real term months into the service. That looks bloody impressive. Of course, that is to BOG meaning the best case scenario. But even to BSP, you’re still sitting at around 153 points of profit, whilst SP is still much less at 90 points, but still 20ish points per month on average.
The problem with all of this, as great as it sounds, is the inflation. Because let’s not forget that this is also all based off those 2.5 point per bet stakes. Scale things down to 1 point level stakes and you’re looking at a peak performance of about 76 points to BOG. Still not a bad result, but substantially less than WAP Bets are marketing Power Bets off the back of.
Conclusion for Power Bets
There area few things that I always like to caution people about when they are looking at tipster services, and for good reason too. It is surprising to me just how often when I look at a service there is a huge disparity between the actual results and the way that they are portrayed. And then there are even more considerations too. And they are very applicable to Power Bets.
So, let’s start by talking about the stakes. I don’t inherently have an issue with utilising higher stakes betting on a service. In actual fact, it can be hugely beneficial. Especially on a service that actually does demonstrate selectivity. I know some tipster who might only advise 3 or 4 bets a week. By all means, go all in on that. But that isn’t what you’re doing with Power Bets.
This begs the question of why exactly WAP Bets are utilising these stakes. There could be a genuine reason for it, but they don’t give one. Which can only really lead me to conclude that… well, stakes are high because profit is high. I’d love to be corrected on this by the way. I’m not simply being facetious, but it is hard to ignore that there is definite correlation and causation there.
On top of that, there is also the small fact that in order to get the best case results, you really have to put in the work. Let’s not forget that WAP Bets themselves show that if you don’t’ get BOG, you may be looking at half of the profit for the period. That is a bloody substantial change in results.
And when you actually scale those numbers back… well, Power Bets is pretty unimpressive. Sure, there is arguably something to be said for the ROI that sits at about 20%, but I don’t think this has really had enough of a run out to put much weight behind that. Had WAP Bets been proofing for 6 or 8 months at those numbers, with consistency. Maybe. But not as it is.
That brings me to something that I want to touch on a little bit more too. At the time of writing, Power Bets has indeed been profitable for about 4 months. Proofing started at the end of September; January is about winding down. And yet, January is seemingly facing a losing month. Admittedly a first, but is it a one off or the first of many? The data sample just isn’t big enough to be really sure.
Which takes me nicely into my conclusion. And that is simply that I don’t think that I’d really look to recommend Power Bets. To be clear, I don’t think it’s necessarily a bad tipster service. But there are some concerns here. Namely around what exactly the approach to the service is. Because the proofing WAP Bets provide is very much at odds with their explanations.
When you add that turn of form into the equation, and costs that I think are ultimately quite high (unless you want to tie yourself down for 6 months)… well, Power Bets just starts to look a bit risky in my opinion. In a few months, you will be able to see how this will truly perform. WAP Bets’ proofing ensures that. And it may be good, it may not be. But you will at least know. Here and now, that isn’t something you can say.
