'Find the winner' rather than Value Betting that was the philosophy bounded around when I first became interested in Horse racing and betting, no matter what the odds, value betting was not on the radar, if you fancied your selection enough, back it no matter what the odds. If there were a few dangers in the race and your fancy was a decent price then back it Each Way.
I bought into that philosophy but it didn't get me far, winners were backed but season after season I ended up on the losing side.
With the early 1990's came the word Value, and its been in vogue ever since. Books were bought and read but what was given in those books were other peoples version of what was considered value, they made very interesting reading and set me on a journey to find that elusive value in Horse Racing Oddswhich would change my betting into a profitable experience.
The common theme from all the books I read was that different people have different ways in finding the right price in their opinion, what is one mans meat is another mans poison!
Another common denominator in each book was the Mathematics behind all the words and guidance, the backbone of all successful betting is to be found in Mathematics, and one such angle is Likelihood Ratios. There are many other ways of finding value and the intention of these pages is to help you in some way to find your own method that is tailor made to suit your betting style with Value always being the aim to make a profit.
Always remember to take a price and never strike your bet at SP (starting price) or you will be at the mercy of the market, and if your selection has valid claims and the price looks right, back your judgement.