Thursday, 15 March 2012

City Promoted

I am going to have to close the quiz from this post in October 2008, as no one got the answer right, (the prize was a cruise on the Costa Concordia, so it'll be a rollover), and after yesterday's Jubilee Announcement, there is no longer an answer. So Chelmsford is now a city, which many probably thought was already the case given that the (former) town's football team has been called Chelmsford City since 1938. Have these tons no shame? I'm still unhappy with Elgin and Brechin nearly four years on. It appears that someone is also unhappy with Chelmsford's rise in status, as the Wikipedia entry included the following line:

Very immature.

Marky 'Sparky' Iverson twittered yesterday that he had
"Just done some analysis and realised that I rarely have a single win worth over 3% of my betting bank - is that poor for traders?"
As I have written before, and nothing has changed, I have never requested the default liability of £5,000 in my Betfair account to be raised, even though I typically keep a lot more than that in my account. Why, you may ask. Well, I won't ever deposit into the account again, so if the account should ever go to zero, that would be it, so I guess I am just giving myself a few safety cushions, which in all likelihood will never be needed. If my account drops into four figures again, that would set off any alarm bells that weren't already clanging, and some serious decisions would need to be made.

Which is all a long-winded way of explaining why I consider my betting bank to be £5,000, 3% of which is by my calculations, £150. Looking only at 2012, the percentage of markets where I have won and exceeded this amount is approximately 10%, but as this includes my punt figures, as a percentage of trade-only markets, it is probably closer to 20%. Mark uses the word 'rarely' to describe the frequency of his 3% wins, and even though 'rarely' is a relative term, I doubt that many people would consider 1 in 5 a rare event.

No doubt, Mark will be letting us know just exactly how rare his 3% wins are.

Update from Mark: "By rarely I was thinking more like under 5%, but I do take all funds at my disposal into account when determining the size of my bank (not just what I have in Betfair)."

2 comments:

Mark Iverson said...

and as if by magic....

By rarely I was thinking more like under 5%, but I do take all funds at my disposal into account when determining the size of my bank (not just what I have in Betfair).

Flash said...

At the risk of stating the obvious; it’s more important to consider wins as a percentage of your stakes, then compared to the bank.

Plus why have more money than necessary just sitting in your betfair account, when it could be in an ISA earning interest? And it’s not like betfair are the most reliable, trusted company,.