Monday 5 March 2007

Trading or Betting?

Although technically I have given up gambling, I have recently started 'trading' on Betfair and with the logic of a problem gambler I think I can make money out of my strategy.

The plan is to turn my £100 bankroll into a summer holiday for me and my daughter. So I am looking to make c.£1000 in 4 months.

My 'system' is very basic, I lay under 2.5 goals in most live football matches and then get out after 10 or 15 minutes for a profit of betweem 10%-20% of my initial stake.

With a lot of luck, discipline and good money management I hope to build my bankroll up to a decent level, so that a small % profit is wothwhile in real terms.

I started messing around with this last week but typically the first time I put my plan into action was during the goalfest at Upton Park (West Ham 3-4 Spurs) and I got burnt.

I did however get out of jail thanks to the longest odds winner of my life. With Spurs 3-2 down with 4 minutes to go I backed them at 131.00 for £2. When they equalised I layed £10 off at 15.00 and still netted a 3 figure profit.

From now on I will be regularly updating you on my progress as I trade my way to my holiday, and if I can work out how I will publish my P&L statement to back this up

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