Power Bets is a horse racing tipster service which is being operated by WAP Bets. A service that is very much hyped in the sales material as being able to substantially alter your betting habits (for the better).
Introduction to Power Bets
I usually like to provide a bit of context for a service before I get into some of the details and the points made. But every now and then, the tipsters themselves do a much better job of framing their service than I could ever do. In the case of today’s subject, there are two key statements that stand out to me. First things first, there is the headline. “WELCOME TO A BRAND NEW RACE BET REVOLUTION”. The more intriguing number for me however is the following: “Welcome to a tipping service that will flip your daily punting on its head and take your profits to unimaginable heights.”
That is one hell of a claim to make. And in my mind, it sets the expectations for Power Bets pretty high. It isn’t even like I’m the one trying to create a narrative here either. You can go to the sales page and see them claims from WAP Bets yourself. Arguably more interesting from a technical standpoint is a claim of an ROI of 70% and a reference to selective betting. Honestly, without looking too deeply at it, this looks very good.
Of course, there are two sides to every coin. Unfortunately, a lot of what you see when it comes to marketing material for tipsters are bold claims which are made off the back of a proofing period. These are, unfortunately, never updated, despite the fact that WAP Bets are still actively marketing Power Bets (just a little hint of where this might be going for you). So, let’s get into it and see whether or not those results can be sustained.
What Does Power Bets Offer?
There is a lot about Power Bets that is rather bold. Bold claims, bold betting strategies, and actually quite bold results. But before I get into that, I want to start by talking about the elements that are actually… Well, they’re a bit less interesting. Namely, I’m talking about how WAP Bets manage the service.
Now, there is nothing wrong with how WAP Bets do things. At all. In fact, they are well known to me and have operated a decent number of tipster services in their time. What I will say however is that everything is at a level that I think I would probably describe as being a bit basic. This means that you get your selections for Power Bets delivered directly to your email inbox, however, said emails are a bit lacking.
Don’t get me wrong, you get all of the information that you need to place your bets. But that’s about it. And I can’t help but feel like that is a bit of a problem with Power Bets. because the results vary drastically, and a big part of this is what kind of odds you are able to get, a topic that I will be looking at more in depth shortly.
What I will add at this point is that if you’re going to make the most out of Power Bets, then you really do want to be using an odds comparison site. By far and away, your best bet is to aim for BOG, but where that isn’t possible, you should be looking to squeeze as much out of every bet as you can.
In terms of the bets themselves, well, that’s where things start to come alive a bit. Each day you receive two selections. These are both to be backed as a win bet, as well as brought together into a double meaning just three bets per day. What I like about this approach is that every day is effectively the same, and as such, you can easily manage your expectations.
Odds wise, I think it’s fair to say that Power Bets is towards the lower end of the scale, verging on middling. Most bets seem to be somewhere between 2.0 and 5.0, however, that is to BOG. These numbers tend to drop drastically when you are betting to SP or BSP. Now, I know that is very much par for the course, but when you’re looking at halving and even quartering the results, that becomes a deal breaker in my book.
A big part of this comes down to the staking plan that is in place. I don’t think that Power Bets is the most aggressive staking plan I’ve ever seen. Not by a long shot. But it does invite quite significant risk when bets don’t come in. You see, each of those selections that you back to win should be done so using 3 point stakes. The double is then backed to just 1 point.
That means that every single day you are staking 7 points. When the bets are coming in, that is great. But when they’re not, you end up hemorrhaging money. That doesn’t have to be the end of the world as ultimately, Power Bets wins relatively often. But it can lead to some substantial losing months, as I will discuss a little later.
Now, I said that Power Bets wins relatively often. Let’s talk about that. The average strike rate comes in at 29.7%. That isn’t a bad number. What is really interesting though is that if you take away outlying months (one of which was a high strike rate of 44.44% and a low of 15.38%), this is actually a pretty reasonable representation of what you can expect.
How Does Power Bets Work?
There isn’t really an in depth look at how Power Bets works, which is interesting to me. Instead, there is a lot of vague mentions and references to things that… Well, frankly, they’re intangible. And that is a little bit worrying. Especially when you look at the results and how the service has performed.
With that said, let’s talk about it a bit. First things first, WAP Bets talk about how their “information sources are Global” (something that allowed them to look at racing in the US when this wasn’t available in the UK last year). This is a really interesting statement to me, because “information sources” could quite literally be anything. Because of that, I don’t really want to put too much weight on the statement.
We are also told that there is an element of value to be had. Now, this is something that we can see and measure. The fact that Power Bets is so profitable to BOG but seems to suffer to SP and BSP tells me that by and large, the odds shorten. Which makes it generally quire difficult to say that there aren’t value bets there. It isn’t however the be all and end all in my opinion.
Finally, I do (as always) appreciate the fact that WAP Bets provide full and comprehensive proofing for Power Bets. Whilst not necessarily direct insight into how the service works, it does provide a lot of insight into what you can expect if you are following along. And given the overall results, I think this is incredibly important to keep in mind.
What is the Initial Investment?
WAP Bets have three options available for Power Bets and generally speaking, I think that they are arguably of questionable value. Firstly, there is a monthly option. This is priced at £49 per month (inc. VAT). There is a quarterly subscription which works out somewhat cheaper at £93 per quarter.
Really, the only option for Power Bets that I see as carrying value for money is a 6 monthly subscription. Unfortunately, this requires an outlay of £97. Of course, that does (as WAP Bets point out) mean that you’re paying just over £16 per month, but to pay it all out in one go does take away from this somewhat.
Especially in light of the fact that WAP Bets don’t offer any money back guarantee or refund policy for Power Bets. This means that, in my eyes, you have to be really ready to commit in order to make this work for you.
What is the Rate of Return?
WAP Bets talk about the income potential for Power Bets ins the sales material thusly. An ROI of 70%. A record breaking month of 144.28 points. An average of 100 points per month. They also show big wins with bets coming in to produce profits of 23 points all the way up 55.5 points. It’s all very good looking.
Now, let’s bring that down to earth. All of those numbers are based off May. Since ending that month on 426.37 points, Power Bets declined, ultimately ending the year on 409.13 points. That isn’t necessarily a drastic loss, but it is worth noting that June and July saw combined losses of 92.83 points. There was also a losing month of 30.7 points in October All this comes together to drop the ROI to a still respectable, but less impressive, 21.33%.
But let’s keep in mind, all of that is to BOG. If you were betting to BSP or SP, your profits by December would have been 191.94 points and 85.66 points respectively. That is a very drastic drop, and it further highlights the importance of getting the best odds that you can.
Conclusion for Power Bets
One of the reasons that I am generally loathe to recommend a tipster service that has just launched is, for want of a better term, what I will call “proofing disparity”. Given that this is a brand new saying (at least I think), I’d like to explain what I mean by this. For whatever reason (although I have my suspicions as to why), there are so many tipster services that are launched off the back of good results, only to immediately see a dip in form.
The thing with this is you can end up with a service which is being marketed off the back of some fantastic results, say, an average of 100 points per month and an ROI of 70%. Meanwhile, the numbers you are dealing with are actually less than half of that. Of course, it’s understandable that this can happen. It is, to some degree at least, what betting is about. But my God is it frustrating.
So, specifically in the case of Power Bets, what does this mean? This doesn’t have an easy answer if I’m honest. It’s hard to know what to think of a tipster service that has had a 144 point month, and also lost almost 93 points in just a few months immediately afterwards. Sure, it balances out, but try telling that to anybody who joined in June and potentially lost close to a grand. The fact is that the results lack consistency, and that is a problem.
And, being frank, when I talk about consistency, I’m not just on about a good solid winning streak or a less “up and down” profit and loss sheet. No, for me the really worrying lack of consistency comes from just how much the results change if you aren’t in a position to get the best possible odds every time.
Let it sink in for a second that if you end up at the SP rather than getting BOG for any reason, on average, you’re looking at between 75 and 80% worse off. That is a hugely significant amount to lose because you’re a bit late to tips. Now, is that something that is WAP Bets’s doing? Absolutely not, but it is a very real consideration for some people, especially those who aren’t capable of dropping everything to get bets placed.
On top of this, let’s not forget that this isn’t cheap. WAP Bets are asking either £49 per month, or (realistically) £97 for a 6 monthly subscription. Now that last number might seem like value, but let’s look at where Power Bets was 6 months after launching. Well, it was about 30 points down. That doesn’t exactly instil confidence in investing in that significantly longer subscription, even if there has been an uptick in results since then.
There are other little niggling issues that I have with Power Bets, but the long and short of this for me comes down to one thing, and one thing only, and that is profit. However you want to dress it up, since launching, WAP Bets have shown a loss of 14 points. That isn’t a big amount, but over an 8 month period, I can’t help but see that as being an indicator of where this is going.
And let’s not forget, that could be substantially more if you fail to secure the right odds. Again, comparing to SP (which I know is at the extreme end of it all), you’d have dropped from a peak profit of 236.11 points to just 87.78. That’s approaching a third of where Power Bets at the end of May.
Keeping all of that in mind, I just can’t find a way to reconcile Power Bets. Sure, there may be more months where 100 plus points of profit come in, but when? And how long do you keep sinking money into something with a track record of losing on the grounds that might happen? The bottom line here is the bottom line.
Whilst WAP Bets have had some good months here, this is a tipster service that has lost money since launching. No matter how you want to look at it, even in the best possible circumstances, you’d be out of pocket. And I think that should be your main take away here.