Mr x  (pictured above at our recent trip to Chepstow on Grand National Day) is a mate of mine and a spread bettor.

I’m firmly in the fixed odds camp as I don’t need the added pressure of losing more money if I get it completely wrong.

Mr x  on the other hand has been spread betting for years and considers us fixed odds boys archaic. We’ve been racing a couple of times and I must admit I am fascinated by the added punting opportunities spread betting brings. On the other hand I’m shit scared of the risks involved.

I’ll let him talk you through our day at Chepstow from his spread betting mindset and approach!

Go to Chepstow races anticipating a loss of £10 per race on course. Don’t bet on the opener, and consider that you’ve won £10 already.

Proceed to bet 6 losers in a row on course, having increased your stake from £10 per race in proportion to the amount of alcohol consumed – net loss on course £85

Meanwhile, have the good sense to bet on the National and to your (i.e slipperytoad) surprise pick the third-placed horse. But bet it win only naturally, losing a further £10.

Before the National starts, look for a ‘value’ bet, and decide to buy the total number of fallers at 12 horses for £15 per horse (see attached). After all, they nearly all fall every year don’t they? Watch the race, count at least 15 fallers and start counting the first profit of the day, at least £45.

Knowing just how much more sensible spread betting is over fixed odds, place one on the total winning distances of the 7 Chepstow races (see attached). Have a beer, realise what a good thing you’re onto and put the same bet on again (see attached). Then watch the next finish and struggle to get a pin between first and second place. Lose £21.25 (twice).

Slowly realise that Sporting Index had inexplicably chosen to multiply the ‘total national fallers’ index by ten. Boast that in fact you (i.e slipperytoad) had therefore bought for £150 per faller, and anticipate a profit of some £450 instead of £45. Feel slightly uneasy that, had there been no fallers my maximum risk of £1,800 would have been realised. However, it appears the spread Gods are smiling down on me this afternoon.

Quickly realise that unseated riders don’t count as fallers. Watch the spread bet get settled at 12 not 15. Watch the profit dwindle from £450 to exactly zero. Watch my smile fade.

Work out I’m now losing £137.50 on the day. Think laterally; work out how to recover everything on the last race I can partake in today. Buy the index on Downhill Skier for £4 at 15, watch it settle at 50 (see attached). Job done, and I’ve even made enough profit to cover my bus fare from the course.

Mr x neglected to mention that I had not backed a winner all day and even lost our “Pre kebab” get out of jail bet at Wolverhampton that evening..

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