www.pegasusracingclub.com
This system was advertised in 2006 by Nick Laight, from Canonbury Publising, and has been well promoted as a succesful programme.
What's Involved? (selling words)
It’s extremely simple!
You can operate the system every day - all you need is access to the Internet and about 15 minutes of your time.
After being accepted for membership and your subscription is in place, you will be allocated a unique logon and password.
Every morning after 10.30, log into the member's area using the member's panel on the left. This will provide access to the selected races of the day which have been pre-determined by our unique selection criteria.
Then simply follow the clear and concise instructions in order to place your stakes.
You decide how much profit you wish to make, key this figure into our bet calculator and this will calculate the stakes required to achieve your desired profit level.
We recommend following our staking plan but you can choose the amount you want to make - £10, £100 or even £500, it doesn't matter - you are in total control!
The next step is to click on one of the links to our online bookmakers and betting exchange sites - simply place your stakes and wait for your winnings to be credited to your on-line account. That's it!!
Sounds simple? - You bet!
MY REVIEW
I tried the system for one month in October 2006. The system has been professionally developed, and sounds exciting. Basically you log in with your password and you are given several races a day where you bet in the 2-3 favourites horses. Then 2-5 minutes before the race you place bets on both horses.
You do this with a calculator which determines how much to bet on each horse, therefore you always win a small amount.
You place your bets, if none of these horses win the race, then you go to the next race and do the same. If you have a winner, then you stop for the day.
I have to say that you need to increase your stakes after losing races.
OK, this is my opinion.
First of all, they give you historical records of winnings and losing races, this sounds serious since many services don`t give you this sort of data. I have copied them into Excel and I have found out that following 3 losing races you are in trouble. And after 4 continuous losing races you have lost all your money.
I tried to find out how they overcome this problem and the answer is that you are given more races everyday, and you can bet on them. But there is an incongruence here, they advice you stop betting for the day after you have a winner, because the chances of winning with the following races is decreasing. As I understand here, you are in trouble, but risking your money in riskier races.
The second point, is that I lost money. Yes, as it sounds. I put a starting bank of £6,000, expecting a profit of £60 a day. My first race was on 23/10/2006, and we have some few winners for a week.
Although I did make mistakes. Because your are betting so close in time to the start of the race, I had a problem with my internet connection once (October = strong winds), which left me with only 1 bet instead of the 2 favourites. In the time you make your calculations with the provided calculator, most of the time the odds have changed, and that`s another BIG problem. Another problem was not knowing at that time that there is a difference between the price the bookmaker gives you and the SP Starting Price, which made a huge difference in my winnings. Luckily, was in my favour. I also had a third problem, when I had a loss, and then I couldn`t wait for the next race to recover the money, so I had to wait until the next day.
This last point is something you don`t find in their selling words. They say you need only 15 minutes a day, which is essentially true, but they don`t tell you this 15 minutes are split in 3 times 5 minutes, and you HAVE to be FREE AND AVAILABLE just before the race starts. And with the money already deposited in your betting accounts!!! Yes, accounts, you definitely need at least 2 accounts with different bookmakers.
OK, back to my results. I did well until 2 Nov 2006, when I had 2 continuos losses. In the first race £480, in the second race £1,350. In order to recover this money in the third race I needed to bet around £3,000, which I found psycologically impossible, ridiculously, and was even contrary to the Pegasus Racing Club rules, which advice maximum % to bet on each race. Therefore you need 2-3 races to recover the money.
That, with only 2 losses. And when you see the past results, you will see that sometimes they have up to 4 continuos losses. And that`s NOT showing you the second-third races adviced for each day when YOU have to split your losses (I did ask why they don`t show these races, they said is because everybody is at different stages, therefore some people need to recover losses while others could be in profits).
OVERALL, I think the system is NOT reliable, it doesn`t stand in time, and even if you are lucky and you can survive some months, time will come when you have 4 losses, and you can`t recover your losses, and then you will have been worked all these months for nothing.
Results Analysis
In a Spreadsheet I analysed the results shown by Pegasus Racing Club starting in January 2006 with £6,000, following the Pegasus Racing Club Rules exactly as explained by them. By the end of January 2006 the account had grown to £7,400, then 3 losing races at the begining of February and back to £5,500. By the end of February the bank is at £8,200. 24th of March the bank is at the highest point of £9,500, but then some losses, and March ends at £5,800. April finished at £4,400, and then I stopped the analysis.
This was my second analysis after consulting with Pegasus my first results, which were better than this with my account lasting until June 2006. But following the clarification of the Rules, I changed my analysis and was even worst.
Pegasus answered to me that the system does work, but they don`t publish all the results, since some people are in a better bank position than others. But basically, you have more races to bet and recover your losses. What I was never explained, is how you recover losses betting in riskier races, since they don`t advice to bet in these races unless you have losses. It just doesn`t make any sense!!!
Final Words
The subscription is £60 a month, very expensive, and I am sure they rely on getting subscriptions from new people, until their customers have 3-4 losing races, losing all their money, and then cancel the subscriptions. I would say this cycle happens 1-2 times a year.
DEFINITELY NOT ADVICE
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1 comment:
Interesting to read the views of another (past)user. I am currently unconvinced by the system.
I agree that the promotional material does not make it clear that you potentialy need internet access for 5 minutes before each of 4 races each day and cannot find the race times until 10.30. Must make it very difficult for those working f/t.This must affect many current or potential clients; a recorded message on a phone service would overcome this.
Very interested in your day by day analysis, would be delighted to see the spreadsheet.
I regularly check results for all races, see those for 14, 15 and 16.02.08.On 14th I had more important tasks than betting, just as well - 4 losing races. If you started seeking just a 1% gain and chased your losses, always staying within the rules you would have lost 54.6% of your bank.
On 15.02 the 1st, 3rd and 4th races all produced a winner whilst the 2nd race was too short. On 16th the 2nd race lost and the other 3 all produced a winner.
A final point to consider is that you are often backing a pair of horses at very short odds, this can be very expensive. I often leave selections that are too short for me. I think this has improved my profitability but have not found time to undertake a proper analysis. I will not bet more than 3% of the bank to win 1% this is my 'risk to reward' ratio.
Conversley, where the odds are more favouable I will increase stakes up to 3% to hopefully secure a better return, this approach seems to work.
Good luck to anyone reading this, whatever you decide.
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