The History of the Betfair Betting Exchange

Founded in the year 2000, Betfair has become the world’s biggest betting exchange. In the early days people were a bit wary of it having only had bookmakers to back with for decades, but they soon got the hang of the idea, and with the option to lay horses it quickly became a big hit. Professional gamblers quickly discovered its potential as it offered better odds than the bookmakers even with a 5% commission rate.

Betfair now exists in a number of countries, some of them, like Australia, after a long legal battle, and the spread of this betting exchange continues to this day with the likely hood of a license being granted in California in 2013. Some countries, like the USA currently ban Betfair outright, but most others allow access.

At the end of 2006 Betfair purchased Timeform, a well known ratings service, and now offers most of this information freely via its betting site. Not long after that they launched a radio service.

2009 Became a moment in history for the exchange when the New York Racing Association granted them a license to bet on all the areas race meetings, although Betfair allow bets on all US racing, the agreement with the NYRA means both parties benefit. In 2012 a similar agreement was made the Hollywood Park Racetrack in California. These agreements only allow Betfair to bet on these tracks, not to allow US punters in those areas to bet online.

Floated on the Stock Exchange on 22 October 2010 at a share price of £13, the company was valued at £1.4 billion! Not bad for a company that turned over just under £400 million in 2011, with around £23 million profits. Year on year profits are increasing especially as they are now based in Gibraltar, although they still work from the London office!

Betfair no runs an online casino, an arcade, it covers the majority of sports found around the planet, runs poker rooms, including live poker, has Betfair TV, a forum, blog, as well as running the Tradefair site for financial trading.

These days all the bookmakers use the exchanges, you won’t see a professional gambler without an account, and traders on the betting exchange account for a lot of the turnover, even though the top end can get charged 60% of profits, but then without the exchange the trader’s profits would be 0%.

Horse Racing Tipping Service: The Private Racing Group Review

The Private Racing Group


<p >All I can promise you is that once you have joined, The Private Racing Group, you will receive a straightforward and honest service and access into my group of private members receiving private horse racing tips. My private members then have access to all the bets I am having myself throughout the year. This would usually amount to around perhaps 25 bets in anyone year. It doesn’t sound that many bets in a whole year, does it?

Actually 25 quality bets a year is all I want or need. I want the wheat sorted from the chaff, and to only invest when I have the best chance of returning a profit on my investment. That’s what my members want from me as well.

I don’t even care what the odds are, and in 2006 and this year so far, they have ranged from evens to 16/1.


Win2Win Racing Comments

This is more of a ‘racing club’ than anything else, but kind of an insider information service. You will not be supplied with a mass of tips on a daily basis, the average appears to be around 25 bets a year. The service is run by Ray Thomas, and although I do not know him personally he is a real professional gambler, and therefore knows what he is talking about. The fact he only supplies a few tips a year means he is supplying you with quality, some services supply quantity, and most of it crap to make it look like you are getting value for money!

Because you only receive a few bets a year, this service is only for those who will be betting a minimum of £50+ on each horse, otherwise you will not be making much if you only bet normally with a fiver.

If you do sign up for this service, remember to use a separate betting bank, so you know exactly how it is doing.

This service has actually won an award for two years in a row, so Ray is doing something right.




Odds On Banker – Free Software – Use This With Our Free Odds On Banker Tips To Enhance Profits

 100% FREE

Win2Win Racing now offers the Odds On Banker qualifiers for free.

This product and the qualifiers are now FREE.
You find find the qualifiers on the Free Tips page.

  • Software designed for ease of use
  • Very competitively priced
  • Will even work from a pen/USB pocket drive.
  • Automatically tells you the required stake
  • Monitors your betting bank and adjusts it per result
  • History automatically updated
  • Live Profit/Loss graph
  • Option to deduct Exchange commission
  • Choice of bookmaker or exchange betting when on low stake.
  • Stats, including Profit/Loss, strike rate, risk meter, etc
  • Staking takes account of any exchange commission.
  • Qualifiers supplied daily via subscription, from a proven professional gambler
  • Systems provided proven profitable for years
  • Staking is tightly controlled to give your betting bank maximum protection
  • Profit even after a losing run!
  • Does not have to be followed every day
  • Interaction with other gamblers via the forum
  • Simple backup facility
  • Choice of skins
  • Includes Flat, AW & NH selections.
  • Time Zone selection
  • Tips tab for help & advice

Windows XP/ME/2000/Vista/W7 with .NET Framework installed.
Software will only work when you are online.


Windows 7:
You may get a “…could harm your computer” popup. Click Actions, then RUN ANYWAY.

This software is 100% FREE to download and use, and has been verified virus and malware free.




Thank you for your interest in the Win2Win Racing System Banker.

Download the file and save it to your disk in the Downloads folder (should be the defualt location anyway). Open on your system and uncompress it. If you have no compression software installed download the free 7-ZIP. Then run SETUP.EXE

The software will automatically update to any new versions in the future.


Daily Selections

These can be collected from your membership account,and will be online daily at around midday.

Unlock Code

This is used to activate the software, and is available at midday. It is then void at midnight.

Starting Bank

On first running the software all the boxes are empty and locked, apart from Enter Today’s Unlock Code. Once you have purchased the credits, and entered the daily update page, the Unlock Code is shown at the top. You can type it in, or cut’n’paste. As soon as it is entered into the box correctly, the software will activate.

If it is your first time running the software, you will be asked to enter the Starting Bank. You will not be wanting to change this figure in the future, unless you reset the software.

I would recommend a MINIMUM bank of £50.

The Starting Bank is actually set to hold a lot more than you will probably ever need, this is why your bank is 99.99% secure, as mentioned earlier, I build in as much safety as possible. This bank, and the Current Bank will then be displayed and updated accordingly while the software is active. The Current Bank is the one which will increase/decrease with each bet.

*New Feature: Bookmaker/Exchange

I have added a drop-down box next to where the stake appears. Default is bookmaker. This is for people using banks under say £500, as the stakes will be smaller than the Betfair minimum. If the stakes are less than £2, but you still wish to use the exchanges, then select EXCHANGES on the drop-down. This will adjust the stake, and the bank management to handle the £2.

If you start with a decent bank, or your bank has grown with profits, you will not need this, so it can be set on either.

Reset/Cancel Bet

You can click this at any time before you press the Settle button to reset the form.


From the list you have from the Win2Win Racing Odds On Banker update page, you enter each selection prior to the race. You can not enter a selection till the previous result has been settled, otherwise the bank and staking will not be correct.

You can enter the Race Time, Meeting and Selection fields however you wish, they are a reference for you only.

The Odds MUST be entered in Decimal. You also MUST deduct the one point stake. This is easy if you use Betfair, and most online bookmakers allow you to use Decimal places However if you are used to Fraction prices, you just divide the first number by the second to get the Decimal price.

7/4 is 7 divided by 4 = 1.75
11/4 is 11 divided by 4 = 2.75
11/2 is 11 divided by 2 = 5.5….etc…

Please note, that if you use the exchange prices, they contain 1 point for your stake, do not include this in the software (Bookmakers do not include the stake in the price).

Exchange Prices Examples:
3.46 should be entered as 2.46
10.8 should be entered as 9.8…..etc…

Bookmaker Prices Examples:
7/4 is the same as 1.75 and should be entered as 1.75
100/30 is the same as 3.33 and should be entered as 3.33…..etc…

If you do not deduct the 1 point from the exchange prices, the software will be calculating your stakes incorrectly, and may result in a loss.

Once you are happy with the qualifier you have entered, and are sure the odds are correct, you can click the Enter button on the form. As soon as you do that, the information is passed to the Live Bet box, and your Stake for that selection is shown. If the prices change, you use the Update Odds button to correct it once you have placed the bet, although you do not need to do it with small changes, or when stakes are small.


Once the race has finished, you must settle the bet before you can either enter the next runner, or exit the program. Doing the latter before settling will result in that bet not be recorded.

You can only select Won or Lost, the software will not let you settle with neither ticked.

Once you click the Settle button, and verify it is correct, the Selection box will become active, and the Live bet box will deactivate, so you are ready for the next horse.

The History box is then updated with the most recent bet at the top, so are all the stats, and Profit/Loss Graph is updated when it has around 10+ bets to work with..

Profit/Loss Graph

This is a simple graph just give you a idea of the trends.


I added these just for reference purposes. The comparison between Overall SR and Recent SR is you give you an idea of what might be expected. The lower the Recent SR to the Overall SR, the more likely a winner is due. The opposite is true of a run of losers. It will take around 100 bets for this too stabilize. Recent SR will only appear after 25 bets have been placed. Risk Meter is the additional safety your bank has as the profits increase.

*New Stats

I have changed the If Levels to show you what the level stakes profit it.

The Av Odds just shows the average overall odds of all qualifiers. This figure will become pretty static over time.

Losing Run is defined as X / Current Losing Run, where X is the point at which you may break the bank, but statistically losing runs have never reached this level, usually 2-3 below it.


Pressing this copies your current HorseHistory.txt file to a new file in the installation directory prefixed by the date.
IE. If you click Backup on the 25th of Aug, the file name will be ’25HorseHistory.txt’.
You can click this after each race if you wish, but make sure you do it daily. This will ensure you have a month of backup data. It is also advised you copy to another HD, floppy, CD, DVD, or pen drive, at least once a week.

Exchange Comms %

If you use a betting exchange, which I strongly advise you too to maximise profits, you use this box to enter your current deduction percentage. Otherwise just ignore it, and it defaults to 0 for those who use bookmakers.

Update Odds

This button allows you to change the odds BEFORE you have actually struck the bet.

*New Feature: Post-bet Odds Correction

Use this button AFTER you have placed the bet.

After you have placed a bet, you may have the situation of a non-runner(s), a late withdrawal resulting in a RULE 4, therefore reducing the actual odds you have. This DOES effect future bets, so make sure you correct the odds.

You can also use it if you place a bet, and you actually get more than the odds you asked for. IE. You entered the odds 1.8, worked out the stake, and while putting the bet on the odds jumped to 1.84, and that is what you got. You can use this button to correct the odds, so a higher profit is recorded.

No need to correct odds for losers.

Menu Items

File>Reset All Files – This will reset EVERYTHING, including the History file, betting bank, current bank, etc. You will only need this if you wish to start from scratch.

File>Exit – You can use this to exit the program, or click the ‘X’ in the top right. Make sure you have settled all outstanding bets prior to doing so.

Bank>Reset Bank – This will reset the Current Bank to the Starting Bank level. You should not need to do this though.

Bank>Add Money – This allows you to add money to the current bank balance, it will have the effect to help increase staking. Once you know the software works, you can add a few quid each week if you wish.

Bank>Withdraw Money – This allows you to deduct any money from the bank. You should never reduce it below the Starting Bank, and the more you have in it, the more safety you have.

Skin – Allows you to change the background colour.

Join – Takes you to bookmaker/exchange sites.

Visit – Takes you to Win2Win sites.

Help – Brings you here!

About – Shows a message box about the software.

Advanced Users

If you really need to change the data in the HorseHistory.txt file, you can edit it in Wordpad, but ensure everything lines up otherwise the data may be read incorrectly. This file is found in the installation folder.

You can also easily import this file to Excel.

You may also wan to copy the History.txt file as part of your backup.


When I run it, I get a notice from my firewall asking to Allow it, why?
The software needs to check the Win2Win server to ensure you have the latest message, which will carry news on any updates of the software, advice, offers, free bets, etc, so you should Allow it. It does not do anything else, nor does the software use cookies. If it cannot connect to my server, the software will not work.

How much can I expect to make?
The No.1 question when it comes to gambling. There is always a direct comparison between your initial stake size and profit. I am often asked “Can I make £50 a week?”. The answer to this is always no. If the question was “Can I make an average of £50 a week?”. Then the answer would be possibly, and can only be worked out from past data.

So can I make an average of £50 a week?
I knew that would be the next question! To make somewhere in the region of £25-£75 on average per week, you would need a starting bank of at least £350 to start building on. I can not be more precise than that, as averages change over time. Remember, this is an average. That is how gambling works.

You it has 99.99% bank protection, why not 100%?
You can never protect a betting bank 100%, their is always a mathematical chance in the real world it will break. Pro-gamblers often break banks, but we runs so many of them (spreading the risk), they do not matter. I have designed this software to give as much protection as statistically possible, plus more for good measure.

Perspective is always a good thing in pro-gambling;
Joe Punter: Has a betting bank of £50, gets it to £400…and loses it on a footy match…LOST £400 bloody quid he says.
Pro-Gambler: Has the same bank, gets it to £400, loses it, and has only lost £50, that is all he started with.

Does it include Flat/NH & AW?
Yes. All British racing codes are included.

Can I make a loss?
Unlikely. The software is designed to profit after a winner, and after a losing run, no matter how long it is. Rarely a loss may be made, this is if you have placed the bet, and then have a withdrawal in the race with deductions. You just have to accept this.

What time are the selections online?
No matter what time racing starts, selection will be online between 12:00-12:30pm, unless I am on holiday, or something, notice is always given on the site and forum though.

What time is the daily unlock code online?
This is online with the updates.

Are there bets every day?
The majority of days will have bets, although occasionally no bets will be given out. This will be due to either severe weather change, a bad days racing with no reliable form, cancelled meeting, or Good Friday/Xmas Day. On the odd day no selections are given, this will be stated.

I need to miss a day/week, what should I do?
Miss them. In fact if you need to go out shopping, the dentist, and it means you missing one or more bets, miss them. The horses have no idea whether you are backing them or not!! If you need to miss a week, a month, no problem. The stats all level out in the end, just carry on from where you left off. The only thing you will lose out on is potential profit, but then again you may just miss losers. Unless you have a crystal ball, no one knows.

What is the Risk Meter?
The Risk Meter starts at 12, and as the Current Bank builds it will reduce, usually around 33% of the Starting Bank, will reduce it by 1. This is to give you an idea of how much protection the bank has. Although bank safety is already built into the software, and should prove enough, the lower the Risk Meter , the even lesser chance of ever busting the bank.

When can I take out profit?
When you wish, you are the bank manager. Taking money out will reduce overall stakes, and therefore profits.

How long does it take to get the Risk Meter to zero?
That depends on the results, and whether to bet every horse, but you are probably talking 1 to 2 years.

I forgot to settle the last bet last night?
No problem just enter it in before you place any more bets. You can only do this if you have the unlock code for the new day though.

Can I include my own bets?
You can if you want, but then why bother paying me to supply you with profitable selections that the software is written for? The software is designed specifically for the qualifiers I supply. Adding your own selections will probably result in you breaking the bank, so using any other selections is not proven profitable long term, and you do so at your own risk

What Strike Rate can I expect?
SR’s will be between 37%-42% usually, although this will depend on whether we are in Flat or NH season, or changing over seasons.

So I will definitely make a profit?
You can not guarantee anything when it comes to gambling, but as well as the 99.99% bank protection, you will make a profit after each winning run in over 99.99% of cases.

I am at work during the day, and home at night. Can I work it between the two?
You need to keep the data file up-to-date, so you would need to transfer it using either a pen drive, or email the files. It is probably possible to run it all from a pen drive, but may slow slightly as the medium isn’t the fastest around.

Will it work on a mobile/XDA/PDA, etc?
No, it would need completely different software.

What would be my maximum stake?
This depends on how many losers you have had in a row, but your bank is built to handle any.

What is F/c.P/L Month?
This is just a measurement of your forecast monthly profit based on your current profit divided by 12. This will start at around zero when you first start using it, and increase over time. It will be pretty meaningless for the first 12 months though.

Win2Win Racing

If you have any further Q&A, please ask on the forum (use the SEARCH first). I can not personally answer emails regarding this software, and do not like people to think I am ignoring them. Thanks.

Free Horse Racing Software | Odds On Banker | Forum| Horse racing system