I had £60 on Sussex tonight at 1.13 in the Pro40 League match at Hove that I was monitoring on Cricinfo (Mrs B had control of the TV remote!), after Nottinghamshire lost their third wicket 180 runs short of their chase. I then went back to following the Wickmayer / Kvitova match at the US Open for a couple of minutes, before flicking over to Betfair – Sussex could be laid at 1.01! Wow, how did that happen? The screenshot from Cricinfo makes it clear – 4 wickets for zero runs in one Dwayne Smith over. Easy money!Sadly, for each winner there’s a loser – check out Stephen Maher’s post here. Better luck next time, mate.
I increased my bank by 62% today. Sounds terrific, but it probably just reinforced my opinion on the limitations of small stakes betting as a practice ground for full-time or high stakes gambling. I know that many bloggers have pointed out the benefits of using small stakes during the learning process of Betfair trading, and in the specific area of pre-race trading this is good advice. But if I break down tonight’s bets, how many would I have been happy to place if my bank and stakes were multiplied by 20? Less than half.
hi great blog and keep it up. I'm not in your league at all betting wise but doing ok since I started full time a year ago so thought I have ago at being a tipster, no idea how it will work out but starting a blog http://professionallayingadvice.blogspot.com/ with selections on there untill my site is up and running I will be tlking about a range of topics exchange related, would be grateful if you could add my blog and I will do likewise, thanks!
ReplyDeleteHaha, I like it!
ReplyDeleteWhy would'nt you have been happy to place the bets if they were 20 times the size? Lack of liquidity i am guessing.
ReplyDeleteIf you were using a percentage of your bank per bet then surely the amounts would'nt matter, liquidity depending.
Making 60% of your bank is doable more often than not on a bank of up to 2k in my experience of trading. So on your bank of £300 you should be making at least 30% per day.
NAE
The daily percentage on bank seems to one of those things that can vary wildly depending on betting/trading style. To say 'you should be making at least 30% per day' comes from someone with either more time, more courage or considerably more skill than I. No-one would bother going out to work if it was that easy!
ReplyDeleteThe match above is an example of what I was talking about - I had no pictures, no detailed form guide, I simply considered the odds value based on a Cricinfo scoreboard. Fine for a £60 punt, if it started to go wrong my down side would be about £10-£15. But as a £1,200 bet, no chance.
Unless, of course, £1,200 is loose change to you. It's the value of that money to you that skews the calculation. If you're wealthy enough to ignore it, then you can legitimately proportion profit to bank until liquidity issues kick in.