flatstats June Newsletter
  Inside This Issue 1 June 2004  
1. Introduction

2. Negative Stats
Why negative stats are important
3. Exchanges vs. Bookies
"20% Better Odds" or not?
4. The Derby and Oaks Stats
Not good reading for Sadler's Wells fans.
5. Subscribe to Flatstats
Signup here
 
Sadler's Wells Course Grade Record

Course Grade Strike Rate ROI%
Grade 1 13.7% -24.3%
Grade 2 18.4% -12.7%
Grade 3 18.1% -2.3%
Grade 4 19.6% 18.8%

Results From Jun-94 to May-04

Sadler's Wells may be the champion sire but he's no punters pal at the very best of British courses. The higher the grade of course, the less likely he is to win and the more loss is made. Backing all his runners at Grade 4 courses (such as Warwick, Folkestone etc.) has returned a profit of 18.8%.


Introduction
Hello, and welcome new subscribers.

Some say that negative stats are too simplistic - relying on them to indicate why a horse should lose is pure bunkum!

How misguided some punters can be. Negative stats are a gold mine. When attempting to conquer an enemy, you have to know his weaknesses. Negative stats show horses Achilles heels. This newsletter highlights the types of negative stats which punters ignore at their peril.

Betting exchanges are growing in popularity because you can back a horse to win, or lay it to lose. But who are the big winners on the exchanges? Should you back, or should you lay?

Next weekend The Derby and Oaks are run at Epsom. This newsletter identifies some positive and negative stats for the two big races.

Stephen Mainwaring


Negative Stats
Recently, some racing pundits have stated that using negative stats is futile. Saying a horse will lose a race because of one negative stat is crazy, they say.

Well good luck to them, and long may they continue to state stuff like that. The more punters believe that negative stats can not work, the more negative stats will work!

Negative stats identify weaknesses in a horse. This could be stats about a horse's record on the going or the course, the sire's FTO (first time out) stat for debutantes, or a trainer's record in a particular type of race.

Horses, sires, trainers, jockeys and even owners usually follow the same patterns. Whatever it is they do, they continue to do what they have always done. This means that they often show flaws or biases which can be exploited by stats punters.

One of the strongest negative stats is the sires FTO stat. This stat shows how well a sire's offspring have performed with horses running for the first time.

Quite often stable whispers may hype up a debutante, or a debutante may look fit and well in the parade ring. But nothing can compare to the real experience of racing for the very first time and this is why the sire's FTO stats are so important.

Using the new Flatstats Analysis Tables (* new feature to be launched later this week) shows which sires are worst with FTO's.

Right at the bottom of the table are sires such as:

Keen with 0 wins from 77 runs
Titus Livius 0 from 49
Entrepreneur 1 from 80
Bijou D'Inde 1 from 44

Pundits may say that some FTO's are unfit and are going off at unfancied prices. What about those FTO's who are more fancied in the market - the hyped horses, the ones who looked fit and well in the parade ring?

One way to check this is to look at the FTO stats for horses who are in the first three of the betting. Using the Flatstats Analysis Table, choosing Sires, FTO and SP position 1st, 2nd and 3rd reveals the following:

Wolfhound, 3.0% strike rate 92% loss
Groom Dancer(USA) 6.9%, 86.5% loss
Puissance(USA) 6.1%, 74.2% loss

Also at the bottom of the table are some pretty well known sires such as:

Salse(USA) 14.3%, 69.7% loss
Selkirk 9.1%, 69.3% loss
Efisio 10.4%, 45.0% loss

Remember, these are the FTO stats for sires where their debutante is in the first three of the betting. The sires at the bottom of the table are performing really poorly with single figure strike rates and huge losses. They are lagging well behind the sires at the top of the table who are hitting 30%+ strike rates and returning 40%,50%,60%+ profits.

It is not just FTO stats which are significant. There are other stats such as a sires record over certain distances.

Recently Beejay went off the hot 5-1 favourite in a 20 runner handicap at Newbury. The horse had won it's race prior to that and looked to have a great chance on form.

Stats punters would have laid this horse because there was one strong negative stat about him - his sires record with young horses running over 7f.

Sire Piccolo has a weak record in 7f races in general. But if you look at his 7f stats for each age you will see some pretty significant stats.

Piccolo 7f stats

Age Wins Runs Win% I.V. A/E £1 Win ROI%
2yo 4 116 3.4% 0.80 0.41 -£98.00 -84.5%
3yo 1 115 0.9% 0.20 0.12 -£107.50 -93.5%
4yo 6 56 10.7% 2.50 1.11 £0.00 0.0%
5yo 2 12 16.7% 3.88 1.36 £4.00 33.3%

The race Beejay had previously won was over 6f. The distance for the Newbury race was 7f and as Beejay was a 3yo.... well you can see what a dire record Piccolo runners have over 7f at such an early age.

Result: Beejay finished last weakening from 2f out.

More recently Distinctly Game was a warm favourite for a 2yo Maiden Stakes at Wolverhampton. The horse had run twice prior to this race and on both occasions, he had finished second.

Those races were on turf and as the Wolverhampton race was on the All Weather, were punters wise to let this horse go off as the favourite?

No! Stats punters would have seen the poor record of the sire on the All Weather and laid the horse.

Sire Mind Games offspring had won just 10 races from 272 attempts on sand. That's a strike rate of just 3.7%. The loss backing all those runners was 48.5%.

What stood out more was Mind Games record at the course.

Mind Games on the All Weather

Course Wins Runs Win% I.V. A/E £1 Win ROI%
Lingfield 4 69 5.8% 1.58 0.54 -£32.50 -47.1%
Southwell 5 112 4.5% 1.22 0.61 -£49.00 -43.8%
Wolverhampton 1 91 1.1% 0.30 0.13 -£50.00 -54.9%

How can anyone back a horse with such a poor sire course record? Mind Games has only ever won 1 race from 91 at Wolverhampton

Result: Distinctly Game finished 2nd again!

Some may say that the majority of Mind Games sand runners were no-hoper donkeys who went off at big prices. Whilst it is true that more than half of them did go off at big prices there were plenty of Mind Games runners on sand who were fancied.

His record with favourites stands out. Mind Games has now had 14 runners on the sand who went off as the favourite. None of them have won.

It is possible to write a complete book on negative stats. No space here in this newsletter to list them all so below are a quick summary of some of them.

You can also find more of them at the Flatstats site by using the new Flatstats Analysis Tables (*)

Sires

Green Dancer(USA) in Group Races 2.3% strike rate, 83.7% loss
Selkirk(USA) in Group Races 5.7%, 74.8% loss
Celtic Swing at Grade 1 courses 2.7%, 84.4% loss
Makbul at Stiff courses 2.5%, 82.2% loss

Trainers

S R Bowring Lay Off runners (not run for at 8 weeks or more) 0 wins from 115
C F Wall First Time Out 0 wins from 151
D Nicholls with Fillies 2.8%, 69.9% loss
M J Ryan Claiming Races 3.2%, 83.8% loss

Jockeys

S Carson Selling Races 1.0%, 85.0% loss
D Corby 12f+ 0 wins from 52
S Hitchcott Soft or Heavy Going 3.1%, 68.0% loss
N Pollard Firm Going 2.5%, 88.3% loss

Owners

Mr Guy Reed First Time Out 0.8%, 95.5% loss
Mr W J Gredley at Newmarket 3.0%, 78.2% loss
Mr H W Ponsonby Favourites 20.4%, 50.9% loss
The Queen in Sprints 9.0%, 61.4% loss


Exchanges vs. Bookies
Did you believe the exchanges when they said you can get "20% better odds"? Have you started backing on the exchanges because of that statement, and now do not bother at all with traditional bookies?

The bookies are really worried about this. All kind of negative spin is being generated by them in order to turn punters away from exchanges. One thing the bookies will not talk about though is the "20% better odds" statement. And here's why.

Exchanges do give better value than the bookies. And it's not just 20%. In a recent test it was more near 40%.

A sample of 580 races was analysed covering the period from 17th April to 20th May this year. All back prices from the last available show were recorded and checked against the SP.

Average percentage difference between exchanges and SP: 40.6%

No doubt about it then. The exchanges give you better value. The average price of a horse's last show on the exchanges is 40.6% higher than the SP.

But wait! What is the point in getting better value about any old horse? Does it really matter that you can get much better value for a three legged donkey? What are the figures for winners? and what are the figures for fancied runners?

Average difference between exchanges and SP for the winner: 14.9%

The exchange bonus is not as great now with 'winners'. Digging deeper and checking the figures for winners who were also favourite:

Average difference between exchanges and SP for winners who were favourite: 8.6%

That doesn't look so good now. Rather than pay 20% more than bookies, the price of punters most popular selection who actually win the race is just 8.6%. If you factor in commission charges also, then you'll see that exchanges are not that profitable for this kind of horse. And don't forget, that is for all winners. You have to try and work out which ones will win in the first place!

If favourites are not offering much value on the exchanges then that must mean that bigger prices are. The bigger the price, the more exchange value you can get.

Betting Range Avg. Bonus
Top 3rd 13.0%
Middle 3rd 24.6%
Bottom 3rd 66.4%

Horses in the top 3rd of the betting offered a 13.0% exchange 'bonus' above SP whilst those in the bottom 3rd offered 66.4%. Clearly it would make sense to look for value bets with outsiders.

Just one final useful piece of information. During the period analysed, if you had backed every runner, in every race, on the exchanges just before the off, you would have bet on 6264 horses and made a profit of £66.00 or 1.1%!


The Derby and Oaks Stats
With less than a week to go to the The Derby it is probably still too early to make a definate selection for the race. There is no way of knowing what the going will be like on Saturday and even the list of participants is not finalised yet.

It is rumoured that one of the market leaders Yeats may not be fit enough to race and he may be pulled out. That is a great pity as he was destined to be a good lay for the race.

Yeats is sired by Sadler's Wells and Sadler's Wells have a poor record in the Derby. Despite holding records for winning many Group races, The Derby is a race which has proved troublesome for the 'Champion Sire'. His record in this race over the past 10 years is just 2 wins from 27 runners.

Sadler's Wells runners may 'stay', some of his runners may have the right Dosage Index for the Derby distance, but in general they do not run well at Epsom.

Sadler's Wells runners under perform at that course. It could be the undulating nature of the track, the downhill section, the camber on the run in which causes them to be unbalanced. For what ever reason, they just do not perform there.

Of all the flat turf courses in Britain Epsom is one of the worst for Sadler's Wells. He achieves an overall 16.2% strike rate, and has a high A/E index of 0.95. But at Epsom his strike rate drops to 10.1% and the A/E to 0.64. Backing every Sadler's Wells runner at Epsom has returned a loss of 62.4%.

At this stage, Sadler's Wells is represented by six runners in the Derby. It could pay to lay them all.

The Derby Ten Year Stats

Analysing the past ten years of The Derby reveals the following useful stats:

The winner was from the top 3rd in the betting in 7 out of the 10 races. More significantly, backing all the top 3rd in the betting in every race has returned a crazy profit of 50.7%.

What is happening here is that the market leaders are being underbet by the public such that it is profitable to back them all. The prices on outsiders are cramped as many punters look for big priced value in the race. There is no need. Just concentrate on the top 3rd in the betting.

Last time out winners (on British flat tracks) won 7 of the the 10 races. 61 horses have attempted this feat so you may find about 6 horses each year who were LTO winners.

This is another group who are being underbet. Backing every LTO winner in the race has returned a profit of 31.1%.

Recommendation: Back market leaders who won their last time out race and who are not sired by Sadler's Wells.

Look out for the next newsletter on Friday Evening which will display the full Flatstats ratings for The Derby and other key races at Epsom on Saturday.

The Oaks Ten Year Stats

The winner was from the top 3rd in the betting in 8 out of the 10 races. Unlike the Derby, this group are not that much underbet. Backing all the top 3rd in the betting has returned a slight loss of 0.8%.

5 out of the 10 were rising in class whilst 5 out of the 10 were running in the same class as LTO. That's a pretty meaningless stat on it's own until you check that only 19 horses were running in the same class as LTO. A horse who ran last time out in a Group 1 is 4.7 times more likely to win the Oaks than one who ran in a lower class. The profit backing all those who's last race was a Group 1 is 107.0%.

Recommendation: Concentrate on the market leaders. Back any horse who last ran in a Group 1 race.


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(*) New feature coming soon! The new Flatstats Analysis Tables will allow you to quickly see who the best and worst are under certain conditions.

The tables are an enhancement over the old 'leaderboard' tables. You can now choose any date and any race type. and run reports such as:

  • Trainers based on Strike Rate for 2003
  • Sires for Group Races based on Wins for 1997-2004
  • Jockeys for Profit at Any Course
  • Owners for FTO runners when favourite
  • Sires for 2yo's on Soft / Heavy going

The combinations of reports you can generate are endless. The new Flatstats Analysis Tables are an important tool for the serious punter. Don't bet without it!

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That's all for now. Thank you for reading.


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Note: The next Newsletter will be sent in three days time!
The newsletter will contain full ratings for The Derby and other key races at Epsom on Saturday.