Absolutely!

The hard part is finding a system that consistently delivers 20 points a month.

Consider this.

You have a bank of $1,000.00 and you have divided it into 100 points.

You follow a value betting system that averages you 20 points per month.

At the end of four years you are a millionaire.

I created an excel spreadsheet where I plot out four years worth of betting with the following criteria:

1. Average 20 points per month
2. First month bet $10 per race (1 point)
3. Recalculate betting point each month based on 100 points

I then recalculated the spreadsheet over and over.

At the end of fours years I am always a millionaire.

I even devised a formula that could also give me negative results for the month.

However, whenever I averaged close to 20 points over the four years my bank always finished above one million dollars.

Sometimes a lot more.

Something to think about.

After a month’s worth of data I will post the results.

Right now, based on tips given to me by my friend in Pattaya. I have effectively doubled my money in just a few days.

At this moment my balance is $396.21 at Betfair.com. I have funded $200 so far with the goal of achieving a bank of $1,000 either through winning or funding.

My plan is to bet $10 units, or 1 point using a value betting system.

I am quite serious about not only managing my bank properly so that I can handle losing streaks but I also plan on showing extreme discipline in following the horse racing system.

I am in it for the long-term and I would be thrilled averaging 300 point years.

Here is the goal: 300 point year results in a $3,000 gain in the first year. Nothing to retire on but I will also be increasing my betting point throughout the year as well.

Just to keep it simple, if I am betting $40 units (1 point) in year two and again average a 300 point year my bank will increase to $16,000 ($1000 + $3000 + $12,000).

Assuming the same happens in year three my bank will be $52,000.

Technically it will be higher because I plan on maintaining my betting point at 1% of my bank, adjusted monthly.

Mathematically it is sound but acheiving a 300 point year will require help from the experts, high discipline and proper stake management.

Now, it is off to bed since I am suffering from jetlag.

For example, I know that if your horse racing system is to bet on only the favourites you are doomed to lose.

Why is this?

Very simple, statistics.

Real world, hard core, uncaring statistics that will take food out of your mouth, not to mention also kick you when you are down.

If you are going to earn an income betting horses you need to place value bets.

What is a value bet?

Value betting is where you can find a situation where your betting odds are greater than the actual odds of the outcome.

For example: if you could always identify horses that win 1 out of 3 races, but always pay 3 to 1 or better, then over the long run you will make money.

The key here is over the long run.

Think about this, if you had a horse racing system that could determine the actual odds of a horse winning, given various conditions, then all you have to do is show discipline and only bet when the betting odds are greater than the actual odds of winning.

Sounds simple, but you need a reliable system. You also need discipline and an adequate bank roll, or stake, to live through those times when the statistics are kicking you in the teeth.

My vacation in the Land of Smiles is over and I am heading back to cold, wintery Toronto.

Right now I am in Hong Kong and should be home in about 14 hours, more than enough time to ponder my next move.