Three years ago today, I had my worst day ever on the exchanges - £5,183.31 dropped on football which marked the start of a calamitous 19 week run which saw my bank decrease by an unbelievable 51.19%. It was August before my bank was restored to its 2006 level.
I like to remind myself of that episode at the beginning of each year, as it acts as a reminder about the folly of greed, and the dangers of chasing. Although I would have denied it at the time, looking back, there can be no doubt that some of my decisions in the early months of 2007 were the result of chasing. It was only when I was able to press the 'Reset' button and let the initial loss go, that I was able to resume normal service.
This year started quietly with little going on in the sports world. Some College Bowl games and the NBA was about it, and on quiet days like these I am content to eke out any kind of a profit.
My involvement in football today will be limited, as I have learned not to take the FA Cup too seriously. I do have a small investment on Under 2.5 goals in the Middlesbrough v Manchester City game after seeing the team selections and weather - both are great levellers.
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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