RussellMarsh wrote: ↑Mon Sep 30, 2019 7:53 amOnce upon a time when I was very naive I followed the backing system of backing the favourite to win ￡50. (The reverse of the laying system above) . Wow!! All was well for a month or so but one day my last bet of the day was ￡11,000 to get back the losses and win ￡50. My wife of the time didn't know about this.. The sweat was literally pouring down my face as the last one Did come in by a neck..
The lay system would soon get to MASSIVE stakes after 4 or 5 favourites won their races (and you lost your lay bets).
Never again I vowed and I have stuck to that. Gambling is a hobby that you need to enjoy and control. Trading is the way to go if you want to try and make a consistent income.
All betting systems become unsustainable at some point. If one actually worked why wouldn't you just keep it to yourself and work it to death!? I certainly wouldn't be bragging about the holy grail if I found it. That would be like sharing a jackpot lottery ticket with strangers. Likely? No!
Were you the Mad Bomber?
If not there are some out there that continue to use something similar. I vaguely recall a system called The Favourites Phenomenon (about 5-6 years ago). Essentially it suggested exactly what you posted, with a few tweaks. Coincidentally, Betfair's liquidity was solid back then, so I can only imagine a lot of traders made money.