Before the Queen Anne Stakes kicked things off last week, we were a reasonable minus 11 points according to our betting history. By the Get-Out Stakes, we were more than minus 35 points – a twenty-four-point loss.

And it wasn’t just that: I had a punt on Sweet Sonnet, a nice 14/1 shot in the Albany Stakes, that I’d seen run at York – another loss.

To be fair, Angus had a win with Scenic Blast in the King’s Stand, but didn’t bother tipping it. And Bernie and I were at a wedding on Friday, which saved further losses.

The real damage was done by the big Ballydoyle winners, Mastercraftsman and Yeats. Laying favourites to lose can prove expensive – especially at odds like the 9/4 we took on Yeats.

But long-term I think I’d lay those same horses again (well, perhaps not Yeats, which proved to be one of the great racehorses of all time in demolishing the Gold Cup field for the fourth time).

Mastercraftsman only just pipped Delegator to the winning post, which I’d see as a moral victory to anyone who backed Delegator at the odds of 9/2 or bigger that were floating around. It’s easy to see that in many more races the 10/11 shot would have been beaten.

Laying favourites is one of the biggest reasons for using Betfair though, and we’ll be doing it again. And we’ll be backing some cunning punts as well. There’ll also be plenty of losers – and that’s the joy of betting, whether it’s at Royal Ascot or anywhere else.

But a fourth straight win would be a truly historic achievement for Yeats, who is now eight years old. He has shown signs of losing his awesome staying power – and it must be a surprise to anyone but the most romantic of punters that he is around 9/4 to win the Gold Cup again.

He can be laid at 3.25 on Betfair to lose the race, and either Ryan Moore’s mount Patkai and last year’s beaten runner-up Geordieland could beat him this time out. That must be the lay of the festival.

Lay a 5-point bet on Yeats for a liability of 11.25 points. It’s a risk worth taking given his age and fading form. This is no time to be romantic.

(The pressure is clearly on after a poor run of results on day one!)

Royal Hunt Cup betting tip
The trends over the years narrow the field down to four horses: Docofthebay, Dunn’o, Military Power and Huzzah, based on age, official rating, draw and trainer form in the race.

I’m going to pass over Dunn’o based on doubts over his stamina, while Huzzah’s best performances have come on softer ground. Docofthebay would have work to do to beat Huzzah based on the two’s performances in the Lincoln Handicap earlier this year, which leaves us with Godolphin’s Military Power.

Provided there’s no significant rain the horse should handle the ground and has good experience of big-field handicaps. Odds of 28/1 are available at William Hill, making Military Power look exceptional each-way value and my Royal Hunt Cup betting tip.

You don’t need to bet a lot at those odds and I’ll be having a point each-way on the Godolphin runner.

NB (17 June) Military Power is now a non-runner so it’s my next-best that gets the nod – and that’s Huzzah. 28/1 is available at Totesport and I’m on, one point each-way.

Prince of Wales Stakes betting tip
Wednesday’s Group 1 race at Royal Ascot is the Prince of Wales Stakes, and it looks a race made for Sir Michael Stoute’s Tartan Bearer.

The 10-furlong trip is the same as the Dante Stakes, which Tartan Bearer won in 2008, and the colt’s last trip out – another winning one – at Sandown in April.

Champion jockey Ryan Moore was on board for both those wins and teams up with the horse again tomorrow. You can get 2/1 at Coral which looks good value to break Sir Michael Stoute’s duck in the Prince of Wales Stakes. I’ll be staking four points on Tartan Bearer as my betting tip at Royal Ascot on Wednesday.

Selections

• 1 point each-way Huzzah (28/1, Totesport) to win the Royal Hunt Handicap (4.20 at Royal Ascot)
• 4 points win Tartan Bearer (2/1, Coral) to win the Prince of Wales Stakes(3.45 at Royal Ascot)

These are generally on offer to new customers only, although some (like Coral’s 10% cashback offer) are also available to existing customers.

Note that terms and conditions will apply in all cases and we’re telling you about the free bet offers with the best will in the world and to the best of our knowledge. We’re not responsible for any omissions or inaccuracies – or any small print that may apply, so make sure you read the T&Cs before committing your cash.

Bet365 – £200 free bet basket
(Added 17th June 2009)
A great Royal Ascot free bet offer from Bet365. Sign up and they’ll match your first bet of between £5 and £50 with a free bet. Then there’s further free bets up to £200 in total. Read more.

Betfair – £25 free bet for new customers
(Added 17th June 2009)
There’s a free £25 bet for all new customers at Betfair. Sign up and after you’ve made your first bet, they’ll match it with a free bet of the same value up to £25. Read more.

Blue Square – £25 free matched bet for new customers
Register with Blue Square and deposit funds. Once you’ve made your first bet, they’ll match it with a free bet of the same value up to £25. Read more.

Coral – 10% cashback on all sports and gaming
Both new and existing customers can get 10% cashback on all their sports betting – including Royal Ascot – and online gaming. Not technically a free bet but worth mentioning because it includes existing customers who – note – need to register to get the cashback. Read more.

Watch Sky Sports for free – on your computer!
(Added 16th June 2009)
Not a free bet by any stretch of the imagination but in some ways something a lot better. Open a Sky Sports account, place a bet using promo code SPORTS and as long as you keep your account “active” you can watch Sky Sports on your computer totally free of charge. Read more.

Sporting Index – £200 cash for new customers
If you want something a bit different from traditional betting, try a bit of spread betting with Sporting Index. This can involve more risk and you could lose more than your original stake. However, Sporting Index are currently offering £200 cash after you’ve placed your first 10 bets which must have a realistic potential of losing £20 each. Read more.

William Hill – £100 in free bets
Register with William Hill and they’ll match your first bet up to £50 (quote code F100 when you sign up). Then there’s a further £50 in free bets on offer on your next bets. Hills have also started doing a regular line in bet-one-get-one-free offers. Read more.

Bookmark this page – we’re hoping to add more to the list of Royal Ascot free bets throughout the week.

Here’s what’s caught our eyes for day one of Royal Ascot so far:

Angus’s betting tip
GLADIATORUS in the Queen Anne Stakes, the race that traditionally kicks off Royal Ascot, off at 2.30pm and live on BBC1.

With an official rating of 126 it is, on paper at least, one of the best racehorses in the world and that makes odds of 9/4 (available at Coral along with 10% cashback on all internet betting and gaming) look too good to turn down (Mastercraftsman, the odds-on favourite for the St James’s Palace Stakes, is rated 120 in comparison).

I’ll have three points riding on it.

Bernie’s betting tip
RED JAZZ each-way in the Coventry Stakes (4.20pm, live on BBC2). This looks a great race for two-year olds with six horses coming into the race on the back of a debut win. Michael Hills’ Red Jazz looks to have a bit more experience including a win on similar ground at Ascot last time out. Odds of 9/1 (again at Coral) look more than fair and I’ll have a point each-way on him.

Matt’s betting tip
MASTERCRAFTSMAN is one to lay in my book. Winners of the Irish 2,000 Guineas traditionally do well in the St James’s Palace stakes but at odds-on I’m avoiding this Ballydoyle colt.

Delegator looks a much better attraction at 9/2 with Stan James, having finished 2 1/2 lengths ahead of Mastercraftsman in the 2,000 Guineas earlier in the season. However, Delegator still isn’t one to hang your hat on and I’ll be content with laying a 10-point bet on such a short-priced favourite on Betfair.

Selections

• 3 points win Gladiatorus (9/4, Coral to win Queen Anne Stakes
• 1 point each-way Red Jazz (9/1, Coral) to win Coventry Stakes
• 10 point lay Mastercraftsman (1.94, Betfair) to lose St James’s Palace Stakes

NB: The early prices are now available and Gladiatorus is now 5/2 at Blue Square. Get on now!