Service In Brief: High turnover racing tipster focusing exclusively on longer odds selections (10/1+) – 12% ROI achieved in over 14,000 bets and seven years of tipping.
Service in Detail: Founded in 2007, the Price-Power service is co-ordinated by an ex-bookmaker with over 30 years in the business, now plying his trade on the other side of the fence:
“Over the years I have built a vast database of knowledge, know-how and contacts. I set up Price-Power to ensure all that was not lost and for the family team around me to develop our concentration on value betting”
In their own words, the UK and Ireland based team is “relentless in its pursuit of big winners” and “dedicated to helping the small stake punter realise the enjoyment and excitement” associated with this. The service has shown a remarkable level of consistency over its long history – both in terms of its unwavering approach and in the accumulation of profits, with each calendar year delivering good returns. In practical terms, the service is relatively straightforward to follow. Tips are sent out via two emails delivered at precisely 12:00 and 1:15 pm each day; there is also the option to receive tips by text at no extra charge. Three tips are provided in each email, i.e. six tips in total on a daily basis, seven days a week … indeed, the team never seems to rest, as they ordinarily follow this strict regime on every single day of the year on which racing takes place in the UK and Ireland!
One key feature of the service is that no bets are advised under 10/1:
“We found over the years that it’s pointless betting on favorites and short priced horses as it’s hard to retain any rise in profit, even though they win more often there is not much of a return to sustain any losing runs. FAVOURITES DO LOSE. So while we were making a profit on the bigger prices we were wasting a lot of that profit on shorter ones. We made the cut off point 10/1 to see if it would make any difference and we’ve seen a consistent rise in profit over the years.
Every day we look for horses with value, which in our opinion is the only way you can win at horse racing. The idea is always about beating the SP and therefore having an edge.
We are looking for horses that our analysis and information suggests can run bigger races than their price suggests. At such big prices you are often going to be wrong. But the satisfaction of getting it right is enormous. When Very Wood won at 50/1 for us at the Festival, it was a great feeling.”
All bets are advised £5 Each Way at a wide variety of high street bookmakers – more on this on in our Odds Availability section later. Advice is kept very simple, with only information on the selection, advised price and related bookmakers provided.
Subscription costs: are, in our opinion, very reasonable, considering the large volume of tips provided and the consistently strong long-term performance. Options are available from two months (£95) right through to an annual subscription at £395, with increasing savings built into each of the longer-term deals. The Yearly subscription also comes with an added free month, so its effectively £395 for 13 months.
For anyone wanting to briefly trial the service to test out whether it suits them in practical terms – or for others who maybe can only bet at weekends or certain days of the week – there is also the option to obtain the days’ tips via text on an ad hoc basis, for £1.50 per day. It’s worth noting, however, that these messages are sent out at 1.30, later than the main subscriber base, which may mean you miss out on the advised prices in a number of cases.
Service Proofing: Our proofing began relatively recently, in December 2013 but, as a member of the SBC team subscribed to this service for a number of years before joining us, we have confidence in the validity of the full history of results since service launch in July 2007.
Service Results: A full set of results is available on the Price-Power website. For analysis purposes, we have included all results from the start of the service (27/5/07) through to the end of March 2014. Overall, the service has advised a huge 14,125 bets at an ROI of 12.0%. Over the near-seven year history, the total Return on Capital stands at an impressive 850.7%, equating to just over 120% on an annualised basis (based on a 2,000 point betting bank). In other words, even betting selections at a modest £5 each way has led to a typical profit of £2,400 per year.
Strike Rate: The strike rate has remained very consistent throughout the life of the service – 6.9% of bets have won (i.e. just under 1 in every 14 bets), whilst almost a quarter of selections were placed (23.4% – including winners). This year-on-year consistency is borne out by the ROI results; the worst year (2009) still achieved a solid 8.6% ROI, whilst the best year was 2011, with an ROI of 16.9%.
Betting Bank: Whilst the longer-term picture shows an unerringly upward trend, there have been some relatively sizeable and lengthy drawdowns along the way, inevitable given the long odds focus of the service (average price = 20.0).
The largest drawdown, by some distance, was 1486.25 points over a seven month period from 22/8/10 to 24/3/11 (1178 bets). It took a further 393 bets (over two months) to subsequently reach a new high on the P/L curve. Other notable drawdowns were 942.75 points (Nov-Dec 2012) and 940.62 points (Jul-Sep 2009).
Anyone looking to add this service to their portfolio really needs to think towards a medium/long-term horizon, and experience suggests, should be prepared to stick things out for at least six months to mitigate against the risks of short-term variability.
Price Movements: Finally, we took a look at steamers vs. drifters, defining “steamers” as any horse that shortened in price from advised price to industry SP. We found that an impressive 75% of selections were steamers, and the overall average SP was 15.5, well below the average advised price (20.0), backing up the earlier quote from the Price-Power team and helping to demonstrate the clear edge this service has achieved over a number of years.
Bookmaker Policy/Odds Availability: We’ve summarised the range of advised bookmakers for a sample of selections recently followed by our tester, Michael. Almost half the selections Michael followed in Feb/March of this year were available generally. i.e. at several UK bookmakers, whilst Victor Chandler and Stan James were the most commonly quoted bookmakers when the price was only available in a couple of places.
For those of you who do have a decent array of bookmaker accounts, you should generally be able to get on at advised prices to small stakes provided you strike your bets soon after receiving the 12:00/1:15 emails. Michael also looked at how the odds held up roughly one hour after being advised (sample of 206 bets):
• 5% had better odds one hour later.
• 63% had the same odds one hour later.
• 32% had worse odds one hour later.
Service Practicality: The service is straightforward to follow and may suit those of you limited to betting at lunchtime. Tips are sent out via two emails (three tips each time) delivered at 12:00 and 1:15 pm each day; there is also the option to receive tips by text at no extra charge.
Customer Service: Price-Power strikes us as a very professionally run and reliable service. As we mentioned earlier in our review, one of the SBC team subscribed to this service for a number of years before joining us, and has reported back very positively on the standards set and customer service provided.
Service In Summary: It’s unusual to find a service which has managed to combine high turnover and excellent performance over such a long period of time. The service’s unwavering approach and consistent success is highly impressive and the Price-Power offering is something that Sean, Declan and colleagues should be rightly proud of.
This service will likely be of most benefit to those of you earlier in your betting careers and would certainly suit anyone with decent access to a range of UK bookmaker accounts looking to gradually build their betting funds using small stakes to try to keep “under the radar” for as long as possible. In our analysis section, we’ve highlighted a number of strengths and weaknesses which we hope you can put to good use. It may be that the more experienced bettors amongst you can build a strategy around this and make use of exchange prices in the early afternoon to build an alternative approach, relying less on the high street bookmakers to profit from Price-Power’s tips.