Well, I suppose it was inevitable...
At close of business yesterday, Irish Racing officially suspended all fixtures until the 19th April, which unfortunately means we'll have to go without racing for at least the next few weeks...
That is, unless you're planning to venture further afield, with racing fixtures continuing across the world in Australia, Hong Kong, South Africa, and the United States.
I'll probably give a few of these a look, but it'll be paper trading / small stakes only. To be honest, I don't feel confident enough to tip these international events, so Lucrative Tips will be placed on hold for the time being...
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On a different and more optimistic note, I wanted to say thanks to everyone who showed an interest in my "business venture" proposal recently...
The response was quite a bit higher than I'd expected, with at least a few hundred replies flooding in over the past couple of days...
Needless to say, we're going to start working on this right away, and I'll send over an update on progress next week.
Finally, I wanted to touch on an important aspect of betting that's often overlooked, and is particularly relevant considering all that's going on at the moment...
I'm talking about Protecting your investment.
While this may not be the most exciting topic, it's an important one because avoiding unnecessary risk can make all the difference between profit and loss...
One thing you can do right now to protect your investment, is to check that the bookmakers you use protect your funds if something untoward happens.
The fact is, it's likely that some of the smaller firms won't be able cope with the current crisis, and have to close their doors. If this happens, you want to be sure they will pay out your funds...
Moplay recently had to go into solvency, and customers funds weren't protected so they're pretty much as good as gone!
This can happen, and does happen.
To check whether your bookmaker(s) protect your funds, please refer to this article:
The levels of protection ranges from 0 (not protected) to 2 (highest protection), and our advice would be:
Level 2 firms: Feel free to leave funds in your account, as they are protected.
Level 1 firms: Limit the amount of funds in your account, and withdraw them when you don't plan to bet.
Level 0 firms: Be very wary of depositing or holding funds in your account. Ideally, avoid these firms altogether.
I'll leave it there for today, but we will elaborate on this topic in the coming weeks...
Hopefully, by the time racing starts back up again you'll be well versed in the art of protecting your investment, and managing your risk.
In the meantime, stay safe and hopefully we can all get through this crisis together!
All the very best, Michael and the Lucrative Racing team |
