One of the best ways to make your betting more profitable is to get bigger odds for the selections you back. You could do that by taking early prices on your selections, but you don't know what's going to happen in the betting market between the time you place your bet and the start of the race.

Unless you know the horse you're backing is going to come in for heavy support, you may end up backing the horse at a lower price than the SP returned.

However there's now a guaranteed way to always beat SP. Centrebet are an Australian bookmaker that are now licensed in the UK and they're showing our pommy bookmakers a thing or two about value betting.

They've introduced SP+, which pays out your bets at the next price up over the official SP. For instance if your selection is returned at an SP of 9/2 they'll payout at 5/1.

You wont notice much of a difference on a single bet, which is probably why most people don't worry about it and are happy to place their bets at SP. But if you consistently achieve prices better than SP over a series of bets you'll soon see the effect it has.

To illustrate the point I've created two examples to see the effect SP+ can have on the betting bank. The examples are taken from 1,000 actual bets I placed last year.

From the 1,000 bets there were 307 winners. I've adjusted the staked amounts to show the effect of betting to level stakes and as a percentage of the betting bank.

The first chart shows how much a £1,000 bank would have improved when betting level stakes of £20. At SP the bank increased to £1,995 but had I placed the bets at SP+ the bank would have jumped up to £3,360.

The second chart starts with the same initial bank of £1,000, but this time betting 2% of the total bank. Starting with a bet of £20 and increasing or decreasing the stakes as the bank rises or falls.

Using this staking method the bank at SP increased to £1,390, but by betting at SP+ it soars to £4,941. This shows the compound effect created by achieving better returns.

As you can see, regularly beating SP can make a significant difference to the profitability of your betting. It could be the difference between making a loss from your betting and making a profit.

For more details of SP+ visit Centrebet