Trading ‘Good-way’
No that’s not a typo! There are two meetings that should get your attention this week.
From a trading perspective, I like multi day high-quality meetings. They usually throw up some good opportunities and are a welcome addition to any month.
Goodwood
As you may know, these higher quality meetings produce extra volume and that can change the characteristics significantly. But don’t let Goodwood fool you into thinking it’s the same as a Royal Ascot or Cheltenham, it behaves very differently. Goodwood benefits from decent volume but it’s not as much as some major meetings. Therefore it can be a little tricky at times to get exactly right.
Goodwood is much better than the normal day to day fodder you are used to though, but not quite on the same scale as other major meetings. Last year, at post time, it turned over around 40% on average of a typical Ascot race. So, by all means, welcome a decent festival in the summer, but just have realistic expectations.
Average volume per race at Goodwood is around £1.1m. Last year it turned over £38m on the week with the biggest race doing £2.2m and the lowest £500k. That about sums up Glorious Goodwood.
I’ve often had mixed results at Goodwood, so Tuesday is my day for ‘feeling’ the market and testing its boundaries. Day one has a pretty mixed up card, a bit of everything in there. So it should be an interesting base to work from on day one. There will be a variety of markets in the mix so half decent stakes and care will be my hallmarks for the day. I’ll update you on my progress Via social media.
Galway
Don’t forget you also have Galway this week as well, so plenty to keep us occupied. Galway runs for the entire week and is a giant p*ss up, apparently, there is some racing on as well!
Irish racing tends to be a little quieter on the turnover front and a good festival turnovers what you would expect for a normal race in the UK. The interesting thing, as I have pointed out on the blog, is that Betdaq performs well on Irish racing and will perform well at Galway. Again there will be a drop in volume but the fill rate is so much better on Betdaq. I am half expecting to earn more on Betdaq this week at Galway, than on Betfair.
The biggest race last year at Galway produced £882k, the smallest a paltry £144k!
If you are off on your hols soon, This week presents a decent range of opportunities to get stuck into before you head off!
Category: Horse Racing, Trading strategies
