Bet Alchemist Review

Updated: February 27, 2024

If there’s one thing us matched bettors have in common, it’s that we love to take money from the bookies!

I’ve always been curious about tipster services, so in January 2016 I decided to give it a go. I set about finding a horse racing tipster with a solid reputation.

After trawling the internet, including many tipster review sites, I finally settled on a service called Bet Alchemist.

What is Bet Alchemist?

Bet Alchemist is a horse racing tipster service run by Professional Race Analyst, Nicky Doyle.

Nicky has over 30 years experience in the business and after spending many hours analysing and studying every aspect of the game, he started to make a lucrative income betting on the horses in his early 30’s.

In 2012, Nicky founded the Bet Alchemist service as a means of sharing his knowledge and skills. Yes he likes to make money, but he’s also driven by the enjoyment of helping others to be profitable.

Bet Alchemist - 32 out of 47 winning months (Desktop)

Bet Alchemist - 32 out of 47 winning months since December 2015Bet Alchemist - 32 out of 47 winning months since December 2015

Why should I join a tipster service?

If you can find a good reliable tipster service, it’s a great weapon to add to your moneymaking arsenal.

A good tipster doesn’t advise a selection because their gut feeling is telling them a particular horse will win. They study form and various other factors in order to identify horses that they think the bookies have priced up wrong.

If the tipster believes a selection’s price should be much shorter, this represents a value bet.

Variance dictates that you will make losses in the short-term, but by backing horses at higher odds than their chances of winning, we should make a nice profit in the long-run.

It’s all about making consistent profits over a period of time and what’s even better is those profits are tax free!

Why should I join Bet Alchemist?

Bet Alchemist is a selective value betting service. This means instead of picking favourites, the bets that Nicky advises come with high odds.

In 2016, Nicky advised 70 winners out of 496 selections. Those winners had an average price of just over 8/1, giving a return on investment (ROI) of 26.97%.

As of October 2019, Bet Alchemist has enjoyed 32 winning months out of the last 47, so it’s a perfect opportunity to jump aboard and ride that wave.

Bet Alchemist - Over 901.03 points profit since 2011

Bet Alchemist - Over 901.03 points profit since 2011Bet Alchemist - Profit trend since 2011

Unlike other tipsters who send out tips every day, Nicky is different. He’s incredibly selective and will only pick out the horses that he believes offer great value.

With only 30-40 bets advised each month, putting our bets on only takes a few minutes.

All bets and results are logged on the site within 24 hours (a bit like my Profit Log) so feel free to check that out if you need some convincing.

How does it work?

You’ll receive an email as soon as the selections are available. You can then log in and view the latest selections via your Bet Alchemist dashboard.

It’s always best to use an odds comparison site like Oddschecker to find the best odds before placing our bets.

Bet Alchemist DashboardBet Alchemist Dashboard

All selections are provided with detailed reasoning, where Nicky explains exactly why he thinks the horse is a value bet.

Bets are placed each way to help avoid losing runs. With most of the selections being at long prices, it’s actually more profitable to bet each way. Nicky sees this as his winning edge.

Nicky will also let you know when to expect the next batch of selections.

What bankroll will I need to get started?

Bet Alchemist recommend a starting bankroll of 50 points. So if you want to bet £10.00 per point, you’ll need £500.00.

Before placing each bet, you need to divide your bankroll by 50. This gives you your stake per point. It’s crucial that you stick to your staking plan and manage your bankroll effectively.

It’s just as important to reduce your stakes during bad runs as it is to increase your stakes during good runs.

Discipline is a must, so if you feel you may struggle with this, following a tipster service probably isn’t for you.

Members have banked over 900 points profit between 2011 and 2018 with an average of 8.5 profitable months every year.

As your bankroll increases, so too will your staking level, enabling you to increase your profitability.

It’s all about building consistent profits over time.

Plans and pricing

There are four price plan options; monthly, quarterly, semi-annual and annual.

The good news is you don’t have to commit straight away. Nicky has kindly agreed to offer Matched Betting Blog followers their first month for just £1.00!

That gives you the perfect opportunity to try out the service and see if it’s for you.

Bet Alchemist Pricing Plans

Bet Alchemist monthly pricing planBet Alchemist semi-annual pricing planBet Alchemist annual pricing planBet Alchemist quarterly pricing plan

If you’re looking for a short-term option, you can subscribe for £30.00 per month or £79.00 per quarter (plus VAT). All prices are fixed for the lifetime of your subscription and you can cancel any time.

If you’re happy to commit for a longer period, the annual plan offers the best value at £240.00. Spread over twelve months, that’s just £20.00 per month!

You’re probably thinking that all sounds a little pricey. I thought exactly the same at first. In fact, when compared to other horse racing tipster services, Nicky’s prices are very competitive.

Bet Alchemist money back guarantee

Bet Alchemist money back guarantee

He’s so confident in his service that he offers a 30 day money back guarantee as standard. If you’re not happy or don’t feel it’s for you, simply drop Nicky an email and he’ll refund your subscription fee in full.

Personally, I’m happy to pay those prices, as I trust the information I’m paying for.

When it comes to tipsters, you get what you pay for. I’ve tried a few free services and have been unimpressed to say the least.

The majority of free services are either desperately trying to make a name for themselves or are simply not very good at what they do.

Free Tips

If you’re not quite ready to commit to a subscription, there is a free option you might want to consider.

You can sign up for free weekly tips from Nicky Doyle as he focuses his attention on the big Saturday handicap races.

£1k to £5k Betting Challenge

Nicky also offers a 1kto5k Betting Challenge where the aim is to try and increase a starting bank of £1,000 to £5,000 over the course of a full year.

Over the past few years, Nicky hasn’t managed to hit the magic £5,000 mark, but he’s twice doubled up to £2,000 and last year turned a profit of £539.

So you can see the huge value in the service with prices of just £14.99 per quarter or £49.99 for the full year.


I’ve been using the Bet Alchemist service since January 2016 and it’s one I’m very happy to recommend.

Nicky operates a professional service where everything runs like clockwork. The selection emails turn up when they should and the advised prices are always accurate.

His track record speaks for itself and while I can’t guarantee that he’ll continue to come up with the goods, I have every faith he’ll do just that.

Having profited handsomely myself, I really hope some of you guys get involved and start earning a bit more cash too!

Got a question?
Leave me a comment below…

I usually respond within 24 hours.

Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.