I don't do the horses because as I have said previously, there is too much insider information in horse racing to which I am not privy, and I believe the sport is corrupt, so I stay away. Perhaps a good job tonight, because a commentator by the name of Mike Cattermole (ATR) called the wrong horse (Brazilian Brush) as the winner when it didn't even place, and someone (or someones I hope) had over £51k backing it at 1.01. And I believe the real winner traded for a small amount at 1000. Probably didn't seem a small amount to the layer.
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.
fair comment re inside information, but that's irrelevant if you are trading a market and locking in a profit before the race takes place.
ReplyDeleteAlso, re the corruption - the legendary gambler Pittsburgh Phil says this as one of his maxims:
"There is enough natural inconsistency in horse racing without having it forced upon the public by unscrupulous men, yet there is not one-tenth of one per cent, as much crookedness on the turf as it is given credit for."
Commentators do make mistakes - people betting in-running should always confirm the colours pre-race, it's your money, no point blaming someone else for bad tips, wrong call etc....
Cheers
Scott
I would disagree that it is irrelevant even if you are trading. Think of the stock market and consider why insider trading is illegal. It's the same with the prices of horses - if you are at a disadvantage then you will lose in the long run.
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