The software scans the horse markets on all the bookmakers to identity value horses which offers reasonable odds - bigger than what might be expected elsewhere and loads them up on the software screen. This means you don't have to go looking through race cards and find the qualifying horses, or know anything about horse racing for that matter.

All you have to do is place the bets that are brought up on the screen.

Think of this strategy as casting a very large net by using a lot of very small stakes. You can start with as little as £1.00 per bet. By casting a huge net of selections you are betting on the overall volume of winners - you can read more about the law of large numbers here.

To use the value system you need a £500 bank. You divide this bank into points by dividing it by 100. This means you will be placing £2.50 (£5.00 total) per bet.

Sounds confusing? Not a problem, it is all laid out very nicely in a tutorial video, in which Mike talks your through the filters and what to do. Takes 5 minutes to set up the software.

As your software starts to populate with horses to bet on, you simply place the each-way bets it selects for you, that's all!

As the bets come in, and the software 'beeps' away, you simply place more and more bets. You place as many as you can between certain time points - these filters are pointed out to you when you set up the software - and cast a wide net across multiple racing markets.

Then you wait for the results to come in and you keep an accurate track record so you can follow any patterns that form, not to mention the profits!

Yes, it is profitable. I am in the process of doing a 2,000 bet test of this particular system. Value based betting systems are not based on any one particular winner or 'idea'. It is based on a long term, volume betting mentality. ​

The idea is to pick out horses at larger odds than normal in order to create a slow, but steady ROI (return on investment).

Another reason why it is profitable is because the software takes out any human element out of the equation. This is incredibly valuable because most people fail at making a profit for emotional reasons. It is hard not to get emotionally attached to a position or selection and cause a loss situation.

Yes, the software is safe to use. This is a web based software which requires no personal information; e.g. bank card details or address. The software merely serves as a method of showing you which horses to back, requiring no download or installations.

Mike Cruickshank has been around for a while and is the creator of a few other products such as 'Bonus Bagging' and 'Profit Maximiser' - both of which have gone down as two of the most profitable matched betting products ever.

Your money is always at risk, however, and I would like you to read the 'Your Capital Is At Risk' section of this post.

As you can see from the image above the long terms profitability is great and the ROI is fantastic when compared to other investment avenues you can take; saving bonds, stock and such...

The essence behind tipsters is they too operate on a value based system, much like the Each Way Sniper software.

They place hundreds of bets per month, not simply by backing the favorite but by finding 'the best value horses'. Each tipster will have his/her criteria and place their bets accordingly.

The long term profitability is secured because all their selections are recorded and presented to you to prove their track record. If you spot something that you don't like, then you don't have to use them. You also have the option to join on a £1.00 trial and you can watch their selections come in without risking any capital - other than your £1.00, of course!

If you ever come across a horse racing strategy which promises great results then I have a few tell tale signs that you can use. There are few words and phrases which all low quality services will use to 'lure you in'.

If any betting system you are considering joining use the following words, run away:

• "martingale recovery" - This is a method where any losing bets are recovered by 'doubling down' on the next bet. This method is a proven failure and will cost you a small fortune when a long losing run comes. Which will come, I can promise you.
• "loss recovery bets" - This is a strategy where you have a separate bet placed, as well as your primary bet, in order to cover any potential losses from your primary bet. Much like the martingale, this will end badly once the first losing run hits, because the recovery bet will also lose sometimes.
• "guaranteed profits" - No one, and I do mean no one, will ever promise you profits. If a product uses the words "Guaranteed Profits" then simply walk away. Regardless of the niche, no one can ever make this promise.
• "easy money, work 1 hour per day!" - No. Just say no and walk away. Much like the profits promise, a 1 hour work day is very misleading. Anyone who is successful online knows it takes hundreds/thousands of hours of work and training before you start seeing any real income coming in.
• "90% strike rate!/High Probability Systems" - This is dangerous one because the results look fantastic. Win, after win after win... followed by a big loss. You will notice, with any profitable service that the strike rate is very low - as it should be. High probability racing systems look great on paper but, in reality, it results in huge losses because when the losses come, the losses are 70%+ of your entire bank. Watch this video by Peter Webb, from Bet Angel!

This is very important. You money is always at risk.

I have chosen two very low risk methods in this article. They both require very low staking amounts and are incredibly low risk.

If you choose to try one of these systems then use the smallest staking amount you can to begin with, £1.00 per bet, to test the systems - or simply paper trade and watch the results without risking any of your own capital.

If you have ever had any issues with gambling then the Betting Gods and/or Each Way Sniper value system will not be suited for you as it requires strict self control and a long term view of profitability. These are not short term winning systems and will only work if you protect your bank by placing small and controlled stakes.

If the fun stops, stop! - See more information about stopping gambling here - www.begambleaware.org