For this you need a telephone betting account. You start with a set amount of money and divide it by 20 every time you make a bet, and you only bet on the favourite in the first race of the day.

That is the favourite just before the race and not as stated in the morning paper. If there is a joint favourite in this race then go on to the next race and ignore the first one.
By keeping it simple like this you wont run into many problems like other systems I have tried and tested this and it works most of the time.
Sometimes I bet on the first five races with this and rare are the days when i dont make a profit go try it for yourself and good luck.