My Official £50-£46,000 betting challenge

The bookies odds just represent what they are prepared to pay out if that event happens. That's not the exactly the same as how statistically likely an event is going to happen. If you follow horse racing the odds on a particular horse will change during the build up to the start of the race. The probability of the horse winning hasn't changed. Bookies will shorten odds on horses that are attracting lots of betting.
 
cram said:
The bookies odds just represent what they are prepared to pay out if that event happens. That's not the exactly the same as how statistically likely an event is going to happen. If you follow horse racing the odds on a particular horse will change during the build up to the start of the race. The probability of the horse winning hasn't changed. Bookies will shorten odds on horses that are attracting lots of betting.
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Yes, I know. I've followed horse racing and betting for the last 25 years!

I misunderstood Skull's post obviously. As I said previously, my post is stating the accumulative bookie odds on a 300 x 1-50 shot accumulator and NOT the statistical odds.
 
I started this today with £10

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I know i did one bet at 1.33 but gunna stick to lower odds I think.
 
cram said:
The bookies odds just represent what they are prepared to pay out if that event happens. That's not the exactly the same as how statistically likely an event is going to happen. If you follow horse racing the odds on a particular horse will change during the build up to the start of the race. The probability of the horse winning hasn't changed. Bookies will shorten odds on horses that are attracting lots of betting.
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Well obviously if we knew the ACTUAL odds life would be a lot easier ;)
 
I'm in on the above too £19.68 @ 1.03 for <3.5 goals, jumped in during play at 60 mins.

Progress so far:

Start: £12.00
Day 1: £15.91
Day 2: £19.68 so far...
 
Signed up to Betfair and placed some small bets just to get to grips with it.

Edit: Oops I think I've bet that the Liverpool v Newcastle game will be a 5+ goal thriller rather than less than 5 goals :o

Edit: Phew, nope done it right, bet less than 5 goals, got my other test bet the wrong way round, lost 10p haha.
 
sloth said:
I'm in on the above too £19.68 @ 1.03 for <3.5 goals, jumped in during play at 60 mins.

Progress so far:

Start: £12.00
Day 1: £15.91
Day 2: £19.68 so far...
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Well done.

I have a bet most weekends (William Hill) but am still at a loss as to what the .5 of a goal means. Checked the help for WH but does not give a clear answer.
 
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New odds, old odds, I still don't understand it. :D

when you get to £100
Bank £50
But play with another pocket full of £50 (of your own money I mean)
so that you still carry on betting with the £100 you originally made..
Bank when you double your money then you can only ever lose half of it.
No? (in fact no, I think you actually can't lose any money other than your original stake)

Make it to £200, bank £100 and put £100 back in the pot from your pocket.
Bet £200 until you make £400, bank £200 and put £200 in the pot...
Bet the £400 until you make £800, bank £400 and put £400 in the pot..

Keep this going until you physically can't afford to add to the pot :D

Question?
1. How quick (assuming you don't lose) (in time days) does it take to double your money.
2. Does this time period change with differing pot sizes.
 
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Retiring for the day. Almost lost it all on darts after going for a very safe 1.02 bet on someone to win who was 3-0 up which quickly turned to 3-3. I'm never betting on darts again.

Progress so far:

Start: £12.00
Day 1: £15.91 (+32%)
Day 2: £21.44 (+35%)

It's rather addictive. :D
 
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