Bookmakers may have stable connections and be in-the-know themselves. If they have a hot tip from a stable, they might want to take bets for all of the horses apart from the tipped horse. Therefore, the late money could be bookmakers dumping their liability on the tipped horse at the exchanges. Notice in both cases, gold hasn’t done anything right or wrong. One financial asset just affects the value of another financial asset. He says that form is useful because bookmakers and punters look at it. Disagree. Everyone has access to this information so it is already priced into the market isn't it? From what I have heard bookmakers don't price runners based on form, there are many more useful stats although I stopped looking into this side of trading because trying to calculate the "true odds" just messed with my manual trading.

If technical analysis was a powerful method of making money on the financial markets, I would expect academic studies to be able to show this consistently. So, in my opinion, there are 2 possibilities. Either technical analysis works, but with feeble effect, or it doesn’t work at all. The Sports Markets As a punter, if a horse has not raced or has always performed poorly on the on the going, I would not consider betting on it. Therefore, it is of more value to me, for a speed rating to reflect the horse’s best performance on the going. I focus on exploitative poker. This is the way poker has been played ever since the game was invented. Reference Hands On the race card, the horse’s TS rating is 29. This shown, with a red circle around it. The TS rating of 29 is adjusted to the weight that Little Emma Loulou is set to carry in the current race. Figure 3 (below) shows a flat race on an all-weather (AW) surface. In this example, I will use the second favourite, Little Emma Loulou.

But the only thing you need to look for is the “1” next to it’s name. That is the first variable. The second variable is that the horse must be in the favourite range. This gives us an adjusted TS rating of 78, which the speed rating shown on the race card (Figure 1)

If you dutch Chelsea and Tottenham and leave the draw uncovered, you are effectively laying the draw. A year is a very long time in horse racing. The adjusted TS is based on the best speed rating over the past year. If you are reading form, you often want to assess a horse race, based on recent form.This is especially the case for favourites.I never used this method. I dutched all my bets, wherever possible. From the start, I saw the flexibility in using this method. Example What about bookmakers’ money in the exchange markets? The bookmakers may bet on exchange markets to reduce their liability. This money will reflect the money that they have taken from punters. So, effectively, the bookmakers’ money is the punters’ money that’s just been moved from the bookmaker into the exchange. So, the only evidence that technical analysis works is that, some people say that they make money using this method. While some of these people are associated with this type of software, some are not. However, you are still taking a random person’s word that this works. I’ve met losing gamblers, who claim that they are winning gamblers. Is Empirical Evidence Always Necessary? So, my question is this. If we don’t know if technical analysis works in the financial markets, why have trading gurus imported these concepts into the sports trading markets? I teach you how I read hands and how you can improve your skills at finding the best betting lines. These 2 skills will help you maximise your profits