Richard’s Additional Bets is a new horse racing tipster service which is being offered through the Sportsworld Publishing tipster stable. Selections come courtesy of the eponymous “Richard”.
Introduction to Richard’s Additional Bets
It is a relatively well known principle in business that any process produces a cast off product. And sometimes, these can prove to be profitable in and of themselves. One of the examples of this that has most stuck with me is sawmills selling sawdust in the US which was used to insulate ice for transportation. It’s all rather interesting actually.
But, I hear you cry, what does this have to do with horse racing? Well, any betting system can also produce potentially profitable bets that don’t fit within the structure of said system. For example, a system based around finding consistent winners at low odds might throw up higher risk value bets. They don’t fit that initial criteria, but can still be profitable.
Richard is somebody who has apparently had the fortune to find himself in such a position. Because Richard’s Additional Bets is a tipster service that really, is based around bets from another system. They just don’t quite fit the mould of that. So, do these systemic seconds ultimately mean that you shouldn’t be betting on them? According to Sportsworld Publishing, no.
What Does Richard’s Additional Bets Offer?
Honestly, Richard’s Additional Bets is a pretty interesting tipster service. This isn’t your typical “pop down the bookies” affair. This is in no small part down to the fact that the service actually involves exclusively using Betfair (although I suppose this could be adapted to other exchanges in theory). Something that comes with a myriad of advantages for the right type of punter.
So, what do you actually get here? The short answer to this is a pretty selective tipster service which comes with a strict set of rules to follow. A poignant point that I will look at in more detail shortly.
Now, logistically, Sportsworld Publishing have a very good handle on managing their services. This means that you can expect the typical trappings of a tipster service in this day and age, by which I mean, selections are sent out directly via email.
The selections are sent out the morning of racing, usually between 9.30am and 11.30am, something that I know won’t necessarily suit everybody. Furthermore, the emails that you receive for Richard’s Additional Bets only contain very basic details which don’t include the odds. This is down to the fact that you actually have to be a bit hands on.
You see, when you receive a selection from Richard, you then have to be looking at what the BSP (Betfair Starting Price) is. This is because you will only bet at specific odds, namely, between 1.5 and 4.0 just before the off. Now, these aren’t unrealistic for most of the bets advised, but it does involve a little bit more work than some tipster services.
With that said, it isn’t too difficult to set up a betting bot to monitor the exchange for you and place the relevant bets. That way, it is simply a case of inputting the bets that the bot should watch (presuming you are in a position to do so when those bets land at later times).
Fortunately, you shouldn’t have a particularly high volume of bets that you need to watch or add to a bot. On those days where there are bets, there are anywhere from one bet to five bets on a given day. All of this is very manageable, especially when compared to the wider tipster market.
This only really leaves the numbers side of things to talk about, and I want to start by looking at the staking plan. Sportsworld Publishing’s proofing for Richard’s Additional Bets shows that all bets have been advised to level stakes of just 1 point per bet. When you combine this with the relatively low volume of bets involved, this is all very reasonable.
I haven’t seen any recommended betting bank, but the set up of Richard’s Additional Bets means that in my opinion, having 100 points will more than suffice. The fact of the matter is that there have been some losing streaks, but that proofing shows that you aren’t going to have to keep funding large numbers of losses (although the service isn’t without them).
This brings me rather nicely to the strike rate for Richard’s Additional Bets. Because honestly, it is one of the more impressive features of the service. Now, Sportsworld Publishing say that during their first period of trialling Richard’s selections, there was a strike rate of 60%. During a second period, there was a strike rate of 58%.
Both of these numbers aren’t necessarily reflected in the more recent run of form which is a bit of a shame. For context, October ended with 14 wins to 24 losses. This would mean a strike rate of some 37%. This doesn’t seem too bad, but it also doesn’t make for a profit either highlighting the need for those high strike rates if you want Richard’s Additional Bets to be profitable.
How Does Richard’s Additional Bets Work?
Rather unfortunately, we aren’t really told anything about what the selection process for Richard’s Additional Bets entails. Sportsworld Publishing have a few bits to say which perhaps offer some insight, but there isn’t anything that I would necessarily view as being “concrete” either.
We are told that Richard is a “racing system developer” and that he has another service which was producing horses outside of that systems limit. The bets that you receive with Richard’s Additional Bets are exactly those bets. This is all well and good, but what it doesn’t do is really let you understand where the bets are coming from.
Now here’s the thing. I don’t expect Richard to go into any real detail about what his selection process entails. What I do think however, and I have said this so many times, I’m almost bored of saying it, you should be able to make an informed decision. You should know that what you are buying is something that will suit you longer term, and in this case, you can’t really.
Now, all of this is frustrating, but I will admit that it is somewhat mitigated by the fact that Sportsworld Publishing do provide that very comprehensive proofing. This gives you an overview of past results, from which you can extrapolate an idea of what the future performance might be. It is however not a comprehensive thing in my opinion.
What is the Initial Investment?
If you want to subscribe to Richard’s Additional Bets, there is just one option available. Sportsworld Publishing are asking £40 per month for access to Richard’s selections. This leans towards the top end of what I generally expect to pay for a tipster service, so whilst it isn’t cheap by any stretch of the imagination, nor is it prohibitively expensive.
It is worth noting that at the time of writing, you can get your first month for just £20 which isn’t too bad a price to pay for a trial. There is however no offer of any money back guarantee for the service.
What is the Rate of Return?
Now we come to the real reason that any of us are interested in betting, and that is how much money we can make. This is where things start to fall down a little bit for me with Richard’s Additional Bets. You see, the ROI for the service actually looks pretty good at first. Sportsworld Publishing claim that it comes in at some 21%. This isn’t really an accurate reflection however.
When you look at the proofing and the more up to date results, the ROI actually comes in at just 7.99%. This is accurately reflected in the incredibly low points profit of 23.65 year to date at the time of writing. This in turn means that the average monthly income for Richard’s Additional Bets is just 3.4 points at the time of writing. That really just isn’t good enough.
Conclusion for Richard’s Additional Bets
The fact that Richard’s Additional Bets is made up of tips that a tipster has decided doesn’t fit into their core strategy is perhaps a pretty telling factor of the wider service. The way I see it is that whilst Richard may do a god job with his main strategy (although there is no real way of verifying this), these leftover bets may be left over for a reason.
Here’s the thing. Richard’s Additional Bets has had some… OK months. By which I mean, 10 points or so. Still not a mind-blowingly good number really. But those averages just paint a picture of a service that just doesn’t sell itself. At less than 3.5 points per month, you would have to stake £15 per point in order to make a profit. By which I mean £12.50 once you’ve paid your subs.
I don’t know about you, but I can’t see a world in which I could justify the effort involved for £12.50. Don’t get me wrong, if somebody was simply willing to put that into my bank account every month, sure, I wouldn’t say no. But to actually risk a betting bank for that kind of return, I just couldn’t bring myself to commit.
The real deal breaker for me isn’t that Richard’s Additional Bets hasn’t really performed. I can appreciate the fact that Richard has at least guided the service to a profit and that isn’t something that is easy to do (although with that said, I want to double down and say that I don’t think that it is profitable enough).
But when you start to look at other tipster services on the market, it becomes very apparent just how wide the gulf is between Richard’s Additional Bets and the competition. Quite what you feel is enough profit per month is will vary massively from one person to the next. Personally though, I think that you should be aiming to get at least 10 points per month as a minimum.
If I’m honest, I would probably want to get even more than this though. In terms of the ROI, that is a much more variable number. Whilst a bigger number is inevitably better, this does have to be balanced against that points profit. But even if you look at the ROI for Richard’s Additional Bets rather than the points profit, I still don’t think it really delivers.
Finally, I want to touch on the work that is involved. Don’t get me wrong, Richard’s Additional Bets isn’t as hard as a full fledged betting system, but nor is it as easy as a set and forget service. Sure, you can set up a betting bot, but that is just extra work that you have to do. Work, I would hasten to add, that other tipsters don’t expect of you.
So, what you ultimately have with Richard’s Additional Bets is a service that is not necessarily expensive, requires more work than normal, however is not necessarily profitable despite this. Elsewhere, you have tipster services that cost less than Sportsworld Publishing are asking for the service, all whilst producing 5 times the monthly profit or more.
With that in mind, why would you select Richard’s Additional Bets over other examples that are on the market? For my money, I just can’t really see a reason why you would. To go back to my point, maybe there is a reason that Richard’s tips were left over or “additional”, as Sportsworld Publishing call them.