carl nicholson

Carl Nicholson’s Racing Diary – Final Review

We have come to the end of our three month trial of Carl Nicholson’s Racing Diary and here are the final results:-


Profit/Loss:    +45 points
Strike Rate:   16%
Bank Growth:   90%
Cost:   £24.99 per month or £299 per year
ROI:   29%
Average number of bets:   1.5 per day


You can view full results here. (please see second tab of spreadsheet for Cheltenham results)


Carl Nicholson’s Racing Diary – Full Review


Carl Nicholson is a Harvard maths and computer science graduate who worked as a professional race reader for Daily Racing Form in the USA.

He published a book in 2012 called Value Backing – The Value Backing Guide to Make Money Betting and follows the principles laid out in that book to find value in his horse racing picks.

Did that approach work during our trial though?

Indeed it did, with Carl racking up 26 points profit at advised prices on his main selections, plus another 19 points profit at Cheltenham, making 45 points profit in total at advised prices. 

That works out at a return on investment of 29%, an exceptionally high return and worthy of considerable praise.

Our bank nearly doubled over the trial, growing by 90% in the three months we followed the tips.

At Betfair SP, things weren’t quite as good, with the trial finishing 14 points in profit – so less than half the profit achieved at advised prices.

Overall though we have been impressed by the quality of Carl’s tipping and are happy to award him a RECOMMENDED rating.


Service Breakdown

Ease of use:  There are around 1.5 tips per day which are sent out the night before racing, so a very simple service to follow. 

Availability of prices:  The prices contract quite noticeably before the race, which is evidence of the value Carl is able to identify. Having bookmaker accounts available to you will certainly be an advantage, as at Betfair SP the profits were less than half those at advised prices.  

Strike rate: The strike rate for the trial was 16%, so there will inevitably be some losing streaks along the way as Carl searches for value tips at decent odds. 

Advised Betting Bank:  A 50 point bank is recommended for following the service and is what we used during the trial, although to be on the safe side you may wish to consider a 75 point bank. 

Subscription costs: The subscription costs are £24.99 per month or £299 per year



Carl Nicholson seems like a smart chap – indeed he must have been to have gone to Harvard. 

Certainly during our trial he seems to have proved smarter than the bookies, taking a good wad of cash off them.

In fact he made 45 points profit at advised prices, which represented a 90% growth of our bank and a 29% return on investment.

That very much backs up the results published on his website prior to our trial, which make impressive viewing.

Overall then we think this is a top notch service and are going to check out Carl’s other offering – his Stable Whispers service.

You can check out Carl Nicholson’s Racing Diary here.  





Carl Nicholson’s Racing Diary – Results Update

21st April 2017

A small retraction for Carl Nicholson’s Racing Diary since our last update a couple of weeks ago.

Carl has dropped 9 nine points at advised in that time, meaning he is know 33 points up for the trial overall at advised prices.

You can view full results here.

At Betfair SP things have followed a similar trajectory, with 10 points lost since our last update and a total of 8 points profit for the trial overall. 

It is worth pointing out that Carl has been plagued by a run of second-place finishes recently, some of them at quite big prices, so things could have been substantially better with a little more luck.

Anyway, that is the way it goes sometimes in betting and Carl has still has done well so far overall and hopefully his luck will turn round shortly.

Back soon with more updates. 





Carl Nicholson’s Racing Diary – Results Update

10th April 2017

The good form continues for Carl Nicholson’s Racing Diary, which has added another 21 points profit since our last update, putting him on 42 points up for the trial overall at advised prices.

You can view full results here.

Carl also provided tips for each race at Aintree on Saturday, which would have added a further 11 points profit if you had followed those additional tips, with Fountains Windfall winning at 16/1.

At Betfair SP there is quite a significant difference, with 15 points profit made since our last update and 18 points profit overall. 

So things going nicely for Carl, let’s hope for more of the same over the remainder of the trial.





Carl Nicholson’s Racing Diary – Results Update

3rd March 2017

Things have picked up nicely for Carl Nicholson’s Racing Diary, with 13 points profit made since our last update three weeks ago.

That means Carl is now 21 points up at advised prices for the trial overall. 

He also provided tips for every race at Cheltenham, which did very well, making 19 points profit at advised prices and 16 points at Betfair SP.

You can view full results here.

Please note there is a second tab on the results spreadsheet for the Cheltenham results.

At Betfair SP, things have not been quite as good (as we seem to say quite a lot these days!), with 2 points profit made since the last update and 3 points made for the trial overall.

Back soon with more updates. 




Carl Nicholson’s Racing Diary – Results Update

3rd March 2017

It’s been a tough run for Carl Nicholson’s Racing Diary since our last update, with 8 points lost at advised prices.

That means Carl is now 8 points up overall at advised prices. 

You can view full results here.

At Betfair SP things are a little worse off, with 12 points lost since our last update, leaving us just one point up for the trial so far.

Back soon with more updates. 






Carl Nicholson’s Racing Diary – Results Update

17th February 2017

It’s been a good start to our trial of Carl Nicholson’s Racing Diary.

Carl is a Harvard graduate who has developed a betting strategy to identify value horse racing selections.

After two weeks, we are 16 points up at advised prices.

You can view full results here.

At Betfair SP, things are also going well as we are 13 points up.

With Cheltenham and Aintree just round the corner, should be an exciting time for horse racing tipsters such as Carl. 





Carl Nicholson’s Racing Diary – New Review

2nd February 2017

They say in betting, value is everything.

Certainly any professional or serious bettor will tell you it is a crucial part of the equation. 

There is no point backing winners if they are all at terrible value. After all, if you have a 50% strike rate, but your average odds are 10/11, you will lose money overall.

But shift those average odds to just 11/10 with the same strike rate and you will be a winning gambler overall.

The value approach to betting is one that has been adopted and developed to a significant degree of expertise by Carl Nicholson, the subject of our next trial here at Honest Betting Reviews.

Carl is said to be a Harvard graduate in maths and computer science who worked for a professional race reader in the US, before turning his mind to professional gambling himself.

Carl has quite literally written the book on value betting, with the publication of his seminal work, “Value Backing – The Value Backing Guide to Make Money Betting.”

As we always say though, theory is one thing, practice another. The proof is whether someone can make money under a live trial, not just produce interesting theories about betting.

So we will see whether Carl can live up to expectations under live trial conditions.

The results on the website look promising however, with over 150 points profit made over the last 18 months to 1 point level stakes, plus 27 points profit on the Breeders’ Cup.

That has been achieved at an excellent return on investment of 28%, which is up there with the best in the racing industry.

The strike rate is 17%, so it is a service that focuses on the longer-odds selections. 

So looks like a promising service all in all.

We will run our normal three month live trial and will update results here on a regular basis.

In the meantime, you can check out Carl Nicholson’s Racing Diary here. 

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