06 What is value? / Betfair Education / 29 January 2008 / Leave a comment

Punters who prefer to back outsiders have to be prepared to sustain losing runs - the length of which is determined by their average price. Backing horses at an average of 4/1 means 20% of your tips must win to break even. One week three in a row might land, other weeks could see a losing streak of at least ten races without a collect.

If you're a fan of longshots, then you obviously love a juicy payout. You'd better be prepared to wait a while for each collect though. At 34 (33/1), you're looking at a 3% chance of winning, so about three times in 100 you'll be looking to collect.