The Fail Safe System is a betting system operated by First Post Racing. The system differs from many in that it isn’t a subscription service or one where you pay for lifetime access, instead you call a premium rate phone line each day to get your tips.

What does the product offer?

The product offers a 72% strike rate with an average price of 3/1. This seems like a pretty good return initially but there are some concerns with the founder of this system that will be discussed later.

How does the product work?

The product calls upon the knowledge of the operators of First Post Racing and seems to be based around placing one point on the two favourites to win. This may initially sound quite reassuring and reasonable, in fact this is a company that offers some strong and solid claims and has a reasonable sales pitch, but there is a lot of historical that suggests that this really may not be all it seems.

What is the initial investment?

The investment in the product is the cost of a call to a premium rate phone line. As to how much it will cost all depends on the length of the call and given the previous record of First Post Racing, it seems quite apparent that this will be a long call. There would also be your bank roll for betting which based of a £10 per point basis would probably be around £1000 for 100 points to play with.

What is the rate of return?

First Post Racing claim a 72% strike with an average 1/3 return. This seems plausible given the simplistic nature of the system but again, we must turn to the conclusion to understand why the whole system is cast into doubt.

Conclusion

The first thing we must examine with this particular product is the company behind it. The company seems to be well known for being involved in many questionable practices. Tony Hetherington of The Mail on Sunday’s financial section has examined this company before in 2008 where he discusses the fact that the owner of the company has allegedly “ran a string of failed, corrupt or cheating businesses”. This is of course 5 years later but it is very difficult to ignore the fact that such a small company can be flagged up by such a large player in the financial world as a scam.

This is one that I would look to avoid like a plague rat based purely on the historical evidence. The fact that it is a premium phone line is concerning as these are often geared purely at making money (for the owner of the line), especially given this is not the norm with many of the more “legitimate” companies offering email subscription.

The full article by Tony Hetherington can be found here: http://www.thisismoney.co.uk/money/article-1080581/Odds-old-racing-conman.html