The Midas Method Final Review
27/01/2013
Sgt Howard reviews The Midas Method
Final Review.
Firstly lets re-cap on the system.
The Midas Method is a Horse Racing backing system explained on a short to the point 11 page PDF. The system claims strike rates of 59% for the win and 87% for the place. There are two main systems (although if you purchase you’ll receive some additional bonus systems) a during racing method and a before racing method. I tested the before racing method as the other demands you follow the live racing. I only tested the system on UK Horse Racing. The system itself is fairly straight forward to operate and isn’t too time consuming. Without giving too much away it involves comparing some basic information on the Racing Post and Betfair. The author claims the before racing method takes approximately 15 mins but it took me up to an hour on busy days and on average 40 mins. I’m not sure how the author can possibly claim you can operate this in 15 mins.
Cost
The Midas Method previously could be purchased by Click Bank for £47.00 (and £9.40 Vat) but now this has changed from just the system to the vendor selling tips as well as the system.
System requirements
To operate the Midas Method you’ll need access to Racing Post and Betfair and preferably a few bookmakers accounts. You do not need to be paying a subscription to the Racing Post for the information you will need. The before racing method recommends you apply it between 12.30 to 1pm (obviously earlier during winter due to earlier starting times).
Staking Plan and Betting Balance
There is no staking plan included in the Midas Method system although the Author does state he backs selections 2pts place and 1pt to win. Therefore I decided to use two separate betting banks of 100 points each.
Betting Bank 1
I bet 2pts place and 1pt win. The place part was at current Betfair price or if no liquidity Betfair SP. For the 1pt win part I used the best current price with either a bookmaker or with Betfair.
Betting Bank 2
I bet 1pt place and 1pt win using Betfair SP for both.
Results
After 84 Betting days the final figures does not look too good.
Bank 1: Start Balance £1000
Final Review Balance £0.00
Bank 2: Start Balance: £1000
Running Balance: £645.21
Total Bets 1328
Total Place Bets 664
Total Win Bets 664
Win Bet Strike Rate 23.49%
Place Bet Strike Rate 52.11%
So Bank 1 was completely wiped out and this was following the vendors recommended staking. Bank 2 fared slightly better but still ended up losing over a third of the betting bank. On top of that the win and place percentages were nowhere near the 59% for the win or 87% for the place as claimed. You also have to take into account the time taken to operate before purchasing any system or strategy, and I found this to take a lot longer than advertised. Granted you can now pay for just the tips and remove the issue of the work, but for a lot more cost long-term. The fact that the vendor has made these changes does not instill me with anymore confidence in the system, quite the opposite. As soon as I read the PDF system I was concerned this system would struggle to find value selections based on the criteria, but this of course is my opinion. In any case I have no alternative to put this firmly in the failed category.
Regards
