My Official £50-£46,000 betting challenge

Summary so far:

4th Jan - Started at £10
10th Jan - Lost £16.10 (27 Bets, 7 Days)
11th Jan - Started again £10
15th Jan - Up to £20.01 (15 Bets, 5 Days)

I've withdrawn £10.01 and going to start again from my original £10. :)
 
AndrewNR said:
He is indeed. He's made £9.19 in two weeks! ;)

Factor in how long it has taken to choose your bet/update your spreadsheet etc you'd have been better off flipping burgers on a Saturday for £5p/h.

Definately need to start this 'game' with a triple figure opener.

Hopefully by day 100 he'll have an interesting amount to play with.
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it's a bit of fun - it take me about 30 seconds to decide what to bet on, 30 seconds to update my spreadsheet.

Day 19 done - under 4.5 goals in play in the Newcastle game.

I could do 4/5/6/7 bets a day if I wanted but i'm taking the slow and steady approach - sticking to my original idea. trying not to get greedy to early in the challenge!!

I already know at some point it's going to fail but lets have a bit of fun whilst it lasts.
 
day 1 Everton v Bolton - Under 5.5 @ 1.02 £10.00 £10.25
day 2 Cambridge Utd v Southport – Over 0.5 @ 1.02 £10.25 £10.51
day 3 Wycombe v Huddersfield – Over 0.5 @ 1.02 £10.51 £10.72
day 4 Real Madrid v Granada – Real Madrid @ 1.10 £10.72 £11.79 (in play)
day 5 Sheff Wed v West Ham – Over 0.5 @ 1.04 £11.79 £12.26
day 6 Espanyol v Barcelona – Over 0.5 @ 1.01 £12.26 £12.38
day 7 Arsenal v Leeds – Over 0.5 @ 1.01 £12.38 £12.46
day 8 Luton v Stockport – Over 0.5 @ 1.02 £12.46 £12.65
day 9 Roma v Fiorentina – Under 5.5 @ 1.02 £12.65 £12.84
day 10 Athletic Bilbao v Albacete – Under 5.5 @ 1.05 £12.84 £13.48
day 11 Melbourne Victory v Adelaide United – Over 0.5 @ 1.02 £13.48 £13.82
day 12 Mallorca v Real Madrid – Over 0.5 @ 1.01 £13.82 £13.96
Valencia v Real Sociedad – Over 0.5 @ 1.02 £13.96 £14.31
day 13 Barcelona v Real Betis – Over 1.5 @ 1.05 £14.31 £15.03
 
Psycho Sonny said:
that is what all gamblers say.

i have a mate and say he wins £150 playing poker, he goes into the casino and loses £100 the next day, he say's oh well im still up overall.

It's BS he lost £100 that he had in his pocket, they say that to make themselves better for losing.

Say you won the lottery for £10 million and then bet £9 million on a game and lost it, what do you think people would call you? Then you turn round and tell them actually i didn't lose £9 million i'm still £999,999 up, so there.

it's a ridiculous way to look at things. you earned that £1K by gambling think about the amount of time and effort put in also, as well as the stress associated.
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You couldn’t be more wrong...

For starters poker is about bankroll management. It's a high skill game with an element of luck which can cause you to have downswings due to variance. Your friend absolutely has the correct attitude. I play poker throughout the year, I can’t win EVERY time I play and nor can your friend. It’s a game of statistics and If your a winning player over the course of the year, chances are you will be significantly in profit after all of your poker sessions, but you have to accept that you will experience losing sessions.

It’s exactly like playing the stock market…..Lets say I invest £10K into a new company that has just floated. Immediately I see a massive increase in share price and my £10K is now worth £80K. Now should I sell my shares at this point or not? (Who knows..) Let’s say I don’t….and the share price drops to a level that my shares are now worth £20K and at this point I think that’s enough for me and I sell all of the shares….Based on your simplistic view you would say I’ve lost £60K as opposed to me actually gaining £10K profit?

And your example of the lottery is ridiculous and bares no relevance to anything, especially the whole point of this thread. £1,000 is not a life changing amount to lose…£9million is….People in this thread are starting with an insignificant amount of money and sticking with the betting process no matter what, in order to either gain a HUGE return on investment or bust…if they bust, they do not lose whatever value they spun their money up to…they lose their original stake.
 
Lima said:
It’s exactly like playing the stock market…..Lets say I invest £10K into a new company that has just floated. Immediately I see a massive increase in share price and my £10K is now worth £80K. Now should I sell my shares at this point or not? (Who knows..) Let’s say I don’t….and the share price drops to a level that my shares are now worth £20K and at this point I think that’s enough for me and I sell all of the shares….Based on your simplistic view you would say I’ve lost £60K as opposed to me actually gaining £10K profit?
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His point is then if you re-invest that 20k again and again and again. 3 years later you have spent 100 hours building up your portfolio to £5M. Then a company that you are heavily invested in goes bust and you are left with 10k.

This is where the differences in opinion are. I mentioned this on the first page of the thread, it depends whether you view it as entertainment or investment of your time.
You started with 10k, you are now back to 10k. It took 100 hours to do this.
If you view it as an investment, you got no return on your time - would have been better with a job in Burger King
If you view it as entertainment, you got 100 hours free game time - reinvest that 10k and play some more.

I started with £10 and played for more than 10 hours before i lost it all.
I had fun doing it and it it cost less than £1/hour.
I dont have any issues putting 50p in the table for a game of pool, paying around £5 for a game of indoor football, paying a monthly membership to go to the swimming pool/gym, buying a magazine/newspaper to read.
Losing my tenner on betfair worked out cheaper per hour than any of these and was equally as enjoyable, so i dont really see it as a 'loss' just another expense the same as everything else i mentioned.
 
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Yes I see what your saying, but this thread isn't about quitting your job to do this for a living and putting your heart and soul into it. It is quite clearly 'entertainment.'...entertainment that could earn you a bit of money if your lucky.

My point is - The guy I aimed my comment at says that his friend is a 'loser' because he won £150 playing poker one day, then went on to play the next day and lost £100. I.e. he seems to view his friend as being £100 down, yet simple logic states his friend is still in the black by £50, not in the red by £100. Also his post is naive in so many ways and just shows a total lack of understanding.
 
Ticking along fine still. Over the 100% profit mark.

Hewitt gave me a bit of a scare yesterday when he was 2 sets to love up I backed him @ 1.05. Then proceeds to lose the 3rd set and go 5-1 down in the fourth. Thankfully some of the aussie magic re-appeared and he won 6 games in a row to finish the match.

bettingl.jpg
 
day 1 Everton v Bolton - Under 5.5 @ 1.02 £10.00 £10.25
day 2 Cambridge Utd v Southport – Over 0.5 @ 1.02 £10.25 £10.51
day 3 Wycombe v Huddersfield – Over 0.5 @ 1.02 £10.51 £10.72
day 4 Real Madrid v Granada – Real Madrid @ 1.10 £10.72 £11.79 (in play)
day 5 Sheff Wed v West Ham – Over 0.5 @ 1.04 £11.79 £12.26
day 6 Espanyol v Barcelona – Over 0.5 @ 1.01 £12.26 £12.38
day 7 Arsenal v Leeds – Over 0.5 @ 1.01 £12.38 £12.46
day 8 Luton v Stockport – Over 0.5 @ 1.02 £12.46 £12.65
day 9 Roma v Fiorentina – Under 5.5 @ 1.02 £12.65 £12.84
day 10 Athletic Bilbao v Albacete – Under 5.5 @ 1.05 £12.84 £13.48
day 11 Melbourne Victory v Adelaide United – Over 0.5 @ 1.02 £13.48 £13.82
day 12 Mallorca v Real Madrid – Over 0.5 @ 1.01 £13.82 £13.96
Valencia v Real Sociedad – Over 0.5 @ 1.02 £13.96 £14.31
day 13 Barcelona v Real Betis – Over 1.5 @ 1.05 £14.31 £15.03
day 14 Leicester v Nottingham Forest – Under 5.5 @ 1.02 £15.03 £15.26
day 15 Melbourne Heart v Central Coast – Over @ 1.04 (0.5) £15.26 £15.87

again still in but two close calls. im not very good at this
 
Which bookies/exchange gives you the most options? Used Labrokes for years but find their range lacking compared to the likes of William Hill.
 
Psycho Sonny said:
It's BS he lost £100 that he had in his pocket, they say that to make themselves better for losing.
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Maybe so but I still think it is a valid way of looking at things.
If you like to consider gambling as nothing more than a sequence of independent bets, then you could argue that those losses do matter. However, if you consider gambling as a 'collection' of bets - almost a career if you like - then you need to consider net profit/loss over that time period. Most people that gamble accept the fact that they will not win every bet. In fact in terms of my own gambling (which is not restricted to low odds) I accept the fact that I will lose more bets than I win. With that acceptance comes a view that you don't beat yourself up over every loss. It also makes winning streaks more rewarding because they are unexpected.

willems said:
again still in but two close calls. im not very good at this
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The thing is we've these type of bets if you win them all then you are 'good', it's not like spread betting where 'close calls' make a difference :)
 
I can't say I get this idea at all.

You're statistically no more likely to make money in the long run by doing this than you are by placing any other kind of bet! Your bets with odds of 1.02 don't come in 'every time without fail'. They come in 49 times out of 50, and on the 50th occasion you lose all your profit on the previous 49. That's the entire point of odds!

All you're doing is taking a low risk and getting a proportionately low reward. It's like playing blackjack for 10p per hand instead of £10. Your expected profit is exactly the same. You're just enjoying yourself less. You'd get the same return placing small bets on a string of unlikely outcomes, but it'd be much more satisfying when your 50/1 bet did come in.
 
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day 1 Everton v Bolton - Under 5.5 @ 1.02 £10.00 £10.25
day 2 Cambridge Utd v Southport – Over 0.5 @ 1.02 £10.25 £10.51
day 3 Wycombe v Huddersfield – Over 0.5 @ 1.02 £10.51 £10.72
day 4 Real Madrid v Granada – Real Madrid @ 1.10 £10.72 £11.79 (in play)
day 5 Sheff Wed v West Ham – Over 0.5 @ 1.04 £11.79 £12.26
day 6 Espanyol v Barcelona – Over 0.5 @ 1.01 £12.26 £12.38
day 7 Arsenal v Leeds – Over 0.5 @ 1.01 £12.38 £12.46
day 8 Luton v Stockport – Over 0.5 @ 1.02 £12.46 £12.65
day 9 Roma v Fiorentina – Under 5.5 @ 1.02 £12.65 £12.84
day 10 Athletic Bilbao v Albacete – Under 5.5 @ 1.05 £12.84 £13.48
day 11 Melbourne Victory v Adelaide United – Over 0.5 @ 1.02 £13.48 £13.82
day 12 Mallorca v Real Madrid – Over 0.5 @ 1.01 £13.82 £13.96
Valencia v Real Sociedad – Over 0.5 @ 1.02 £13.96 £14.31
day 13 Barcelona v Real Betis – Over 1.5 @ 1.05 £14.31 £15.03
day 14 Leicester v Nottingham Forest – Under 5.5 @ 1.02 £15.03 £15.26
day 15 Melbourne Heart v Central Coast – Over @ 1.04 (0.5) £15.26 £15.87
day 16 Real Madrid v Barcelona – Over 0.5 @ 1.03 £15.87 £16.35
 
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