Format Racing Method Review
Review by Will Brown
The Format Racing Method is a horse racing backing system that promises to make you £1,000 per week. Like most people I would find that sort of money very hard to turn down, so I was happy to put it to the test.
My first impressions were quite good, as the Format Racing Method has a professional look about it, from the website right down to the layout and presentation of the manual itself.
The instructions in the manual are reasonably clear. What the Format Racing Method actually involves is dutching. For those who aren’t familiar with the term, dutching involves backing more than one horse in a race, the idea being that if you have more than one horse running for you then you stand more chance of winning – but of course you make less profit when you do win.
“You will need to follow the live markets to use The Format Racing Method”
One thing to bear in mind with The Format Racing Method is that you do need to be in a position to follow the live markets in order to use it. You cannot obtain your selections and place your bets the night before, so the method may be unsuitable for those who work during the day, although of course it could still be used on evenings and weekends.
Something else to note is that dutching is not simply a case of backing more than one selection at level stakes. Some calculations are required to ensure an equal amount of profit is made no matter which of your selections wins.
This can be done automatically if you use trading software, but if you’re placing your bets manually you will need to obtain a dutching calculator to figure out the stakes for you. It can be a bit fiddly to do, especially when prices keep changing very quickly immediately prior to the race.
So that’s the usability aspect, but what about the all important results?
Final Results –
Non Betting Days: 0
Betting Days: 14
P/L: £221.36 Loss
I tested the Format Racing method out on two weeks’ worth of live racing, and unfortunately the results were not good.
I followed the system instructions to the letter but sadly I made an overall loss of 11 points in 2 weeks.
When I returned to the manual I was able to quickly spot some flaws in the reasoning behind the system which, in my opinion, explain why the method did not succeed and why it is unlikely to ever do so.
“Some of the mathematical claims were questionable”
I can’t really pick the method apart in any detail here because to do so would give it away, and this would be unfair to the author who I believe is genuine about his system.
A few things stand out though. The manual claims that 70% of races are won by the first 3 in the market, but I would argue that this varies depending on track, type of race, and most importantly the price of the front 3.
Furthermore, in the manual we are told to ignore occasions when our stake required in order to earn a target profit per race is too high. However this frequently occurs when the favourite is at a shorter price. And if we assume the market is efficient (which with the Betfair market is generally recognised as being the case) when the favourite is at a shorter price, it means it’s more likely to win.
What this means is that by ignoring these races, we’re bringing the success rate of the races we do get involved in down, meaning it will definitely be lower than the 70% that is claimed by the manual, and required for the method to succeed.
As I mentioned earlier I don’t think this method is a deliberate attempt to deceive. I think the author genuinely believes in the system, but life is all about different opinions and mine is that the mathematics behind the system are flawed, and that it will not make a profit in the long term.
My opinion was supported by my test results, so unfortunately I must ask for The Format Racing Method to be marked as a failed system.
In my opinion, the mathematics behind The Format Racing Method are flawed. It made a loss during my test period and I don’t feel it will ever make a profit over the long term.
The Format Racing Method will not make you money, but there are other betting systems that will. Take a look at our Recommended Betting Systems to find a betting system that will make you a profit over the long term.