Just placed my first ever bet

el_dazza said:
Just remember horse-racing usually has a massive over-round, typically 110-112%, sometimes more. Favourites win approx. 35% of the time, but I'd wager most (2/3 or more) of those are priced less than 9/4.

FWIW - Orpenindeed in the 4.00 at Wolvo. Not a great price (7/4f) but Tim Vaughan's, with a claimer on it, bidding for a hat-trick against a bunch of donkeys? Yes please.
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Thanks for tip. ;)
 
markweatherill said:
Becoming a bookie is pretty much the only way to do that!
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I am a bookie and I'll tell you that I make sod all from your gambling. I'd much rather you all just gave me your money and let me do something productive with my life then watch idiots **** away more than I earn in a month in the space of a few hours and then have the cheek to come running to me for sympathy? **** off.
 
Gambling is a mugs game, you will never make money in the long run from it.
you may get lucky once, maybe even a few time, but the odds are stacked in the bookies favour.

Matched betting on the other hand, is a way to make money, providing you understand it properly and follow the rules.
 
Nix said:
I am a bookie and I'll tell you that I make sod all from your gambling. I'd much rather you all just gave me your money and let me do something productive with my life then watch idiots **** away more than I earn in a month in the space of a few hours and then have the cheek to come running to me for sympathy? **** off.
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You need to calm down mate :p
 
thepeganator said:
Gambling is a mugs game, you will never make money in the long run from it.
you may get lucky once, maybe even a few time, but the odds are stacked in the bookies favour.

Matched betting on the other hand, is a way to make money, providing you understand it properly and follow the rules.
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What i was doing was, looking at the odds and picking the biggest margins between the favourite and second best odds. For ex 1.9 vs 3.5+. This seems fair to me and is surely greater than the 35% chance of favourites winning as someone above posted, maybe not.
 
rz30 said:
How much can expect to win from betting on average?
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minus... if people won "on average" casinos and alike would go broke.... If you want to make any real money, and be able to change your odds play poker or a similar game.. Seeing inteligent friends play roulette it's amazing how fast they start to speak about patterns etc in the numbers.. and so when they lose, i have to patronise them by saying such things like "what are the chances :rolleyes: " , and "it's almost like its completely random" ..... unless you throoughly know the history of a sport, and therefore think you know better than the bookies, then theres no point in betting.... and on things like roulette the more you bet, the faster the odds will catch up with you
 
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rz30 said:
What i was doing was, looking at the odds and picking the biggest margins between the favourite and second best odds. For ex 1.9 vs 3.5+. This seems fair to me and is surely greater than the 35% chance of favourites winning as someone above posted, maybe not.
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It also depends how many are in the race, and the class of horse. So often at summer jumps meeting you'll have something like:

11 runners:

4/5
15/8
7/1
12/1
14/1
25/1
33/1
66/1
66/1
100/1
100/1 - Really here you can almost always forget the 25/1+ so you've only got a few to beat.

Another race you could have:

7 runners:

7/4
11/4
9/2
9/2
11/2
8/1
12/1

All really have a chance, but the gap between 1st and 2nd favourites is the same. That is pretty irrelevant, if you ask me, ask they're not the only 2 that can win :)

ojrules said:
..... unless you throoughly know the history of a sport, and therefore think you know better than the bookies, then theres no point in betting.... and on things like roulette the more you bet, the faster the odds will catch up with you
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And not many do. I know my sports fairly well, but that doesn't stop shocks happening. Strictly speaking, casinos have a lesser house edge than bookmakers do. In an even contest, most will give you 5/6 either party to win, over-round of 108.9%. A roulette table has an over-round of 102.7%. :)
 
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I work for a gambling company online, and I can safely say, you don't really win.

We've given a house away, cars, cruises, massive cash prizes. but for 1 person to win a 1000 need to lose.

have a flutter now and then, but do not think that you can really make genuine money from it. Even games like poker are guaranteed a win.
 
thepeganator said:
Gambling is a mugs game, you will never make money in the long run from it.
you may get lucky once, maybe even a few time, but the odds are stacked in the bookies favour.

Matched betting on the other hand, is a way to make money, providing you understand it properly and follow the rules.
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You can certainly make money from gambling long-term.

eg. stock market traders.
 
britboy4321 said:
You can certainly make money from gambling long-term.

eg. stock market traders.
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Or you can **** up and let the state deal with it whilst you sit in your high office watching as other sods have to queue up for social welfare. As long as it's someone else suffering, it's all good.

There is nothing guaranteed about speculation. It's all chance. That's all it ever is. I suggest some of you do some reading up about the psychology of risk vs. gain.
 
the extent of my betting is betting £2 here and there when out with mates.

Its just a harmless bit of fun with that sort of money. Dont fall into the trap of thinking it will be that easy all the time.
 
I'm going to reserve the right to say "I told you so."

Just for the record, of course. This one's obviously a slow learner.
 
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