When you’re trying to make betting on horse racing profitable, one way you can maximize your profit is by taking advantage of bookmaker concessions. There are a variety of those concessions, but one of the main ones to consider is Best Odds Guaranteed (BOG).
What is Best Odds Guaranteed?
Best odds guaranteed or BOG is a concession offered by many bookmakers that is sometimes referred to as an odds insurance or price insurance.
If you place bets online on UK or Irish horse races, a bookmaker that offers best odds guaranteed will give you the odds or price about the selection they are offering. For example, if your horse is 10/1 with your bookmaker when you place your bet, you will get 10/1. If your horse then wins, you will be paid out at 10/1 even if the starting price (SP) is lower than 10/1.
But horse racing markets are extremely volatile, meaning the odds of horses can also drift. If you bet with a bookmaker that doesn’t offer best odds guaranteed, and your horse is returned at odds of 12/1, you will still only get paid out at 10/1.
That’s why it’s a good idea to bet with a bookmaker that does offer best odds guaranteed. This means, if the horse you backed at 10/1 drifts to 12/1, your bookmaker will pay you out at 12/1.
Can Best Odds Guaranteed Give You an Edge When Trading?
Trading is a term given to punters that use betting exchanges to back and lay horses to try and make a profit – and best odds guaranteed can give traders a great edge if they’re skill is picking horses that will drift after they’ve placed their bets.
Traders start this process by laying a horse on the exchanges that is a similar price with the bookmakers. For example, a horse that is available at 2/1 (3.00) with the bookmakers may be available to lay at 3.05 on the exchanges.
That means the punter stands to make a small loss as he has laid the horse at a slightly bigger price than he has laid it at.
But traders back their judgement according to whether they think a price will contract or drift. If the trader is right, and the horse he has backed with the bookmaker drifts to 9/4 (3.25), he will then make a profit as the exchanges don’t offer best odds guaranteed.
Do Bookmakers Put a Limit on Best Odds Guaranteed?
If you check the terms and conditions of most of the best odds guaranteed concessions offered by bookmakers, you will see there are normally limits. These apply the amount of extra money you can win from a bet where you have benefited from best odds guaranteed.
Bookmakers also tend to put in a clause where they can remove the offer of best odds guaranteed on any account. This is normally applied to punters that make a regular profit or take advantage of best odds guaranteed more than the average punter.
Are There Ways to Stop Me Losing My Best Odds Guaranteed Concession?
If you’re new to betting on horse racing, or have yet to turn it into a profitable pastime, the first thing to realise is there are a lot of bookmakers that offer best odds guaranteed on UK and Irish horse racing. That means if one bookmaker withdraws their offer of best odds guaranteed from your account, you can always place your bets at a different bookmaker that is happy to offer this concession to you.
Bookmakers who were offering best odds guaranteed at the time of writing this article included Bet365, William Hill, BetVictor, Betway, Paddy Power, Boylesports, Betfred, Coral, Betfair Sportsbook, Ladbrokes, 88Sport, Totesport, and BetStars.
Another way to avoid detection with the bookmakers is to split your bets into smaller bets and place them with a variety of bookmakers, as smaller bets don’t tend to get detected as quickly as big bets. It’s a good idea to vary which bookmakers you bet with each day, when possible, although this is sometimes determined by which bookmakers are offering the best odds.
Do Profitable Tipsters and Their Members Get Best Odds Guaranteed?
Profitable tipsters and their members get best odds guaranteed just like any other punter to begin with, but you will lose this concession when you start making decent long-term profits from betting on horse racing.
That’s why the profitable stable of horse racing tipsters at Betting Gods declare all their profits, and return on investment without applying best odds guaranteed to any of their winning bets.
But if you’re thinking of subscribing to any of the Betting Gods horse racing tipsters, that doesn’t mean you can’t make some extra profit from taking advantage of the best odds guaranteed concession if the odds drift – well at least until you’ve made that much profit that the bookmakers refuse to offer you BOG anymore.
Profits from the Betting Gods free horse racing tips can also help you take advantage of best odds guaranteed concessions.