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I made about €250 from €20 with a series of bets relating to Euro 2012, and that's where I stopped. The only remaining slight interest I have in betting is pos

by TillE 11y ago

I made about €250 from €20 with a series of bets relating to Euro 2012, and that's where I stopped. The only remaining slight interest I have in betting is possible automated "exploits". For example, some bookies will give you 1.01 odds in live betting even when the outcome is almost certain. So with a little luck and a clever algorithm, you could increase your money by 1% each time, making several bets per day. Unfortunately, they'd ban you pretty quickly. They ban anyone who wins too much. My bwin account was locked shortly after I cashed out.

joosters 11y ago
Laying 1.01 shots can be a very profitable business, as far too many people think a near-certainty is the same as a certainty. You won't last long backing all of them. If you want to try it, sign up with Betfair and share your money with the world :-)
shocks 11y ago
Bookies and betting exchanges will take commission too. This kind of betting is not particularly lucrative. Better systems involve looking for unusually high odds by comparing across exchanges/bookies, backing/laying, waiting for them to swing back into favour, and backing/laying to lock in a profit regardless of the outcome. You can back/lay to minimise your losses if the odds don't swing as much as you thought. Other systems involve backing all possible outcomes (Team X wins, Team X loses, and draw - for example) across multiple bookies such that you guarantee a profit. A good way to start and dip your toes in the water is matched betting. Place bets at bookies and LAY the same outcome at an exchange - do it right and the net loss will be a few pennies/cents. Use this technique to syphon money out of bookies offering free bets for new accounts. How much you make is limited, but I made a few thousand doing this at university. edit: Matched betting isn't useful only for free bets mind. You can use this techinque to take advantage of some promotions too. One story that comes to mind is a friend who matched bet on horses. The offer was that if you bet £X for Y horse to come in 1st and the horse actually came in 2nd - you get a £X free bet up to a limit of £350. He did four or five times that day. Two times his horse came second. The other times, since the bet was matched, he only made a small loss (less than £5).
phillc73 11y ago
Just seen this on Twitter: @BetfairRacing: After taking an early lead Marmalad traded at 1.01 for over £18K before getting get beaten on the line by Brasted. http://t.co/ht4mo7suyj http://t.co/ht4mo7suyj

by TillE 11y ago

joosters 11y ago

Laying 1.01 shots can be a very profitable business, as far too many people think a near-certainty is the same as a certainty. You won't last long backing all of them. If you want to try it, sign up with Betfair and share your money with the world :-)

shocks 11y ago

Bookies and betting exchanges will take commission too. This kind of betting is not particularly lucrative. Better systems involve looking for unusually high odds by comparing across exchanges/bookies, backing/laying, waiting for them to swing back into favour, and backing/laying to lock in a profit regardless of the outcome. You can back/lay to minimise your losses if the odds don't swing as much as you thought. Other systems involve backing all possible outcomes (Team X wins, Team X loses, and draw - for example) across multiple bookies such that you guarantee a profit. A good way to start and dip your toes in the water is matched betting. Place bets at bookies and LAY the same outcome at an exchange - do it right and the net loss will be a few pennies/cents. Use this technique to syphon money out of bookies offering free bets for new accounts. How much you make is limited, but I made a few thousand doing this at university. edit: Matched betting isn't useful only for free bets mind. You can use this techinque to take advantage of some promotions too. One story that comes to mind is a friend who matched bet on horses. The offer was that if you bet £X for Y horse to come in 1st and the horse actually came in 2nd - you get a £X free bet up to a limit of £350. He did four or five times that day. Two times his horse came second. The other times, since the bet was matched, he only made a small loss (less than £5).

phillc73 11y ago

Just seen this on Twitter: @BetfairRacing: After taking an early lead Marmalad traded at 1.01 for over £18K before getting get beaten on the line by Brasted. http://t.co/ht4mo7suyj http://t.co/ht4mo7suyj