That quintessentially English sporting occasion, the Boat Race, takes place in a few minutes. The final this year is a repeat of last year, and features the teams from Oxford and Cambridge Universities... My strategy with this kind of event is to bank on the fact that as start time approaches, people will want to have a bet riding on the race, so I backed Oxford at 1.47 expecting the price to fall a little as the day goes on. I sold out at 1.42 for a free bet on Oxford, but as I write this, the lay price has continued to drop (to 1.39) and I should have held on. But a free bet is not to be sniffed at, though the lesson learned is to be a little more patient before laying off.
Update: 13 minutes from start time, and the lay price has dropped further to 1.31. Note to self for this event next year...
Boat Race Result: Oxford won by six lengths.
About Me
- Cassini
- I have had a life-long interest in sports and after studying Pure Mathematics with Statistics at secondary school, have been fascinated by odds and probability. The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn’t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Only slightly daunted, I then went on a search for the Holy Grail, the secret to riches that I knew was out there somewhere. Finally in 2004 I stumbled across an article about Betting Exchanges and four years later I was able to make a steady profit.
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