Horse Betting Rules Back-Testing Software Tutorial | LightSpeed Stats

Want to test your horse betting ideas properly before using them with real money?

In this video, I walk you through the Horse Betting Rules Back-Testing tool inside LightSpeed Stats and show you how to build, test, and review your rules with speed and clarity.

You’ll see how to create betting rules, analyse the results, and quickly spot which ideas have potential and which ones need to be avoided. This is ideal for anyone who wants to stop guessing and start making data-led decisions.

Inside this tutorial, you’ll learn how to:

•  Set up horse betting rules inside LightSpeed Stats 
•  Back-test ideas quickly without doing everything manually 
•  Review results and spot useful patterns 
•  Improve your betting and trading process with better data 

If you are serious about building horse racing strategies, this tool can save you a huge amount of time and help you test with more confidence.

Get started with LightSpeed Stats here:
 https://lightspeedstats.com/signup/

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Transcript

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Hello, welcome to another video from lightspeedstats.com. Today we're going to focus on the betting rules in the strategy builder, explain what they are, go through some of those, make that all a little bit easier for you to understand. So let's get on with it today. If you remember the last video and you might not have watched it on horse selection rules, we had a strategy and we were looking at BSP. We're basically looking at a DOB where the price halves 60% of the last five races. And these are really important. So we're going to try a back to low here. So our bet side is to back. Okay. Very simple. The next thing you want to choose is your entry price. Okay. Now here we're going to do a price range, and we're going to do. Now obviously with a DOB, you could do anything between um, well, I guess 2.0, but I think 2.0 is very short for a DOB. So I like to go for 3.0 as your minimum. And then I like 25 as my maximum. The reason is if you try and daub a horse that's odds are really high, it's very difficult to get your money matched. Uh, you'll be surprised in play how difficult that can be. And your horse might come in to your required odds, but there's no money to lay off, maybe a pound or so. So you don't manage to get your money off. It's much easier on shorter price horses. 25 might even be too high. You might want to kind of stick that to 12 or whatever. We can have a look at the odds in a minute. Um, and when I go through the results and kind of talking through how you can use your results, I'll do that in the next tutorial video. Um, we'll explain that. But yeah, this is your price range. Okay. Now the next thing you want to choose is your betting window. When do you want to be trading this? Okay. Now, most of the time I will use official start time, uh, 10 minutes before the race and race start. The reason for this is that essentially it's much easier to try and know when the actual 10-minute window is before the official start time than the real one. Because in horse racing, if you've been watching horse racing for any length of time, you'll know most horse races don't go off until a few minutes after their start time. It's actually very, very rare that a horse race goes off bang on its start time. So if you're trying to guess when it's going to go off and you're trying to work out this window perfectly, it's going to be quite difficult to do. So I just like to do it to official start time, and because it's very easy. If a race starts at 3 pm and this trade starts 10 minutes beforehand, well, I know that the trade starts, the trade window is from 2.50 to 3 pm, regardless of when the race starts. So it's very simple. But again, this is for you to choose. You could decide you want to do it a different way. Okay, and that's fully up to you. The icons are in blue, and that's because it's a back. Our strategy is a back. Now, if you wanted to do, for example, a lay to back and you're doing something different, you could look at this and go, hang on, it's blue. Oh, I've done the wrong bet side. So that's quite cool. It's quite it's quite good how that happens. Let's see if we can just change this to lay, um, and I'll show you what I mean. So we quick lay, and there you go. So we've picked the betting window, and they're now pink because that's the lay side on Betfest. So that's quite a clever addition by Adam, our software developer. So let's choose that again. We're gonna keep that betting window as is. What you might want to do is you might want to do it in place. So you'd then have to move the little toggle along the bottom here from race start to after start, or you could do it all the way to race end. We're gonna do before race, and we need 10 minutes beforehand to the off, okay. You could narrow that, you could want to do all your trading before the race. So if you put both the toggles on the race, you then just have to give it a time here. So you might just want to do it in a one-minute trade window, okay? And do it like that, okay. And that's you place your back bet within that one minute uh window. Let we'll keep that on here actually, that's quite interesting. So we're actually going to trade this between 10 minutes and nine minutes before the start, okay. Number of qualifiers, this means how many horses, maximum or minimum per race can be your qualifiers for a selection. So, in this case with Dobbs, it doesn't really matter too much. Obviously, um, you know, if you get two or three DOBs in a race, um you know, you it's probably quite hard for that to hit all the time. But again, at this point, what you could do is just leave this blank as is now, and then later on go right, I want to change it to I can only have a maximum of two horses per race qualifier. And then once you've done that, you could run both those results and see which one works better. That's always the best way of testing things again. Because none of this is about my opinion, none of this is really about your opinion, it's about testing thoughts, testing opinions, testing ideas. Traded amount, you can choose what traded amount the horse would have to have on it and for it to qualify as a selection. And then favourites is quite a good one. You can pick, you know, whether they're the favourite, second favourite, and you can also exclude it as well. You can exclude whether they're favourites or not. Same with outsiders and same with favourite prices. Okay, so again, you can look through that again. I don't think a ton of you are going to be using things like outsiders and favourite prices at the end, um, because you can do that on the entry price anyway, and if it's a favourite, so but it's nice to have the options, nice to kind of have a wealth of options there. Now, close your trades. This is where if you've got a certain type of strategy and you want to close your trade, this is where you do it. Now, most people, if you're just straight betting, backing, or laying, you can just leave this as it is, okay, and and it the default is no exit defined, okay. But we want to target a profit of one point profit. Okay, so we want to make a one point profit because it's a dub, we're either gonna let's say we're making£10, we're either gonna win£10 or lose£10. But you might go, well, I only want to do a half dub. Okay, well that's 0.5 points, isn't it? Okay, so work out how many um points of profit you want to make. And point is basically a unit, some people call it a unit, it's it's it's like a stake, it's it's kind of how you view your bank. I view it as the this is how I view it, and this is um how the software will view it as well. Let's say you have a hundred-point bank, right? One point is your target here, okay. So if you've got£100, it would be one percent, okay. And let's say you're betting one pound per race on the Dobbs, you will be looking to make a pound or lose a pound on these trades. Obviously, you're not looking to lose a pound, but you know what I mean. So you can then actually add a stop loss as well. So if it goes to a certain price, you can obviously get out of your trade in that respect. Obviously, with a dob, we're not gonna do that. We knew for target of one points profit. Okay, um, exit time, there's no restriction, we're gonna let this run to the end. Again, it's a dob, right? We're not if it hits the dob status right at the end of the race, we're not gonna be complaining. In fact, sometimes you will get a situation where your horse wins the race but never actually hits the dob price, amazingly, um, and you can make a full profit, which is fantastic. Okay, so you know, another another bonus with DOBs, if you will. Build your bank, very simple. You say what your bank roll is. I think this is such a cool feature. Um, so let's say we've got a£5,000 bank roll, and then you pick your stakes. Well, with a DOB, we're just going to use flat stakes, but you could use percentage of bank, you could use profit and liability as your stake type, and you can use either fixed stake or dynamic stake distribution. Again, if any of this is confusing, just stick with the presets, okay, and just choose what stakes you want to use. So in this case, we're going to use a£5,000 bankrupt. Let's use£50 stakes. Okay. Commission 2%, but you can change that if you need to. Um, and then exit type is obviously a hedge because we're hedging for the profit, or we're just losing the stake. The next thing to look at here is a really cool one, and I've done a video on this recently, so I'm not going to kind of labor this, but it's customising results. What's cool with this is this is where you can choose what to look at in the results, okay? So there's a few things I like to look at. I like to look at country, going, especially as a good one. Um, I like to look at number of runners, I like to look at but basically you just select these things and then you run the strategy and it will show you um your results in terms of how well it would have done for those things. Now, one thing we want to match it up with here, um, if you remember from earlier, we had a look at race type, okay? So that would be something I definitely want to look at in the betting rules. If we looked at race type in here, I'll do it here. Um, I'm just gonna select race type, and that basically means we've now got three things we're gonna look at. Now, the more things you add to this, it will take a little bit longer for it to process the data because it's got to run it through in all these different ways, but it's so cool that you can see how well class would have performed. Another really good one to look at. Um, you can see kind of the prices that did well. That's another one I want to look at, actually, wasn't it? I did mention entry price, so we'll add that one. Uh could just do BSP actually. No, because we're getting in beforehand, aren't we? It's actually quite near the bottom, this one. Okay, so entry price, I think, is a really good one. You could look at entry time, broaden the scope, and then see which entry time works really well for your strategy as well. Um, but I'm gonna leave it like that because we've got a few. And then all you would do now is run the strategy. Um, so I'm gonna run this strategy and I'm gonna go through the results in another video because again, gone past kind of 10 minutes already here. Um, but yeah, if you want to get hold of Lightspeed Stats, you want to be able to set up a proper professional horse racing strategy, give yourself a chance to create an edge, get make a profit on horse racing trading. I mean, why wouldn't you want to do that? Just head over to lightspeedstats.com and sign up. If you're a football member, you do get a big discount, and obviously, we've got so many football members being, you know, Betfair Trading Community has been going for well, I've been doing it for 11 plus years, and I know it was going for a year or so before that. So, you know, obviously a lot and lot of people there, um, and loads of you guys signing up for the horse racing, which is fantastic. So I want to focus a bit more on it now, get some more of these videos out. Um, but yeah, if you're a football member, you do get a big discount. You need to email me, just email info at betfairtradingcommunity.com or info at lightspeed stats.com. Um, some of you guys said you missed it last time where you you need help with strategies. We've got three free strategies that we give away that have done well. Um, if you want those, you don't have to be a member, just say the word free and we'll I will send that document over to you guys and you can have a look at that. Um and yeah, if you haven't subscribed to the channel, please do. That'll be great either on podcast or on video, however you're watching or listening to this. But most importantly of all, uh I hope you make some money trading the horses on Betfair.