I lost a little over £5,000 yesterday in the Stock Market and just shrugged my shoulders nonchalantly while telling myself it'll come back. I don't handle my sporting investment losses quite so casually I've noticed. A loss of that level and I'm discombobulated (what a great word that is) for hours. Nevertheless, with no end to the bear market in sight, and my house dropping in value by the day, it does all get a little annoying, if not depressing. But I'm in for the long run and it's not always a smooth ride. Guess I won't be retiring this week.
On the Betfair front, still total confusion surrounding the Premium Charge. Some people on the forum seem convinced that the £1,000 applies to profits starting from the week of 22/9, but I have to say that I am quite sure they are wrong - it is an allowance to offset against the previous 60 weeks of profit, which isn't going to help me too much to be quite honest.
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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