Monday, 16 February 2009

Tugging Heart Strings


Since Last Update P/L: £245.79
Monthly P/L: £1,009.53
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I've never been able to figure out why some people always bet on their favourite team. After all, should your team lose you not only have to get over the reality that they're perhaps not as good as you thought, but your pockets are also a bit emptier than when the game started. A double whammy. Correction, a triple whammy, as if you follow a high profile team such as Man Utd, Chelsea etc. then the chances are your bet didn't didn't even offer value as the odds on offer were reduced by other casual 'blind' fanatics.
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So what's the answer? Well, "don't bet" would be an acceptable one, but if the temptation is too great then how about backing the other team? This does sound a bit hard to swallow but it's exactly what I did on Saturday when Wales packed down to face England in the Six Nations. I had sweaty palms that England would put in a strong performance and thought that Wales' match odds price of 1.27 was way too short. A quick scan of the other markets then allowed me to notice that England were available at even money with a 10.5 point head start. My decision was made - I'd oppose Wales for the match and back England to cover the handicap. If Wales won by over 10.5 points then I'd be out of pocket to the sum of £65 (a loss that would be worth it!) but if England won or lost by less of a margin then I'd at least break even. A no lose situation in my eyes! By full time, the winning margin of 8pts fell exactly where I wanted :-)
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Here's my latest results:
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Cricket : £134.53
Darts : £264.02
Rugby Union : £16.72
Soccer : £95.87
Premium Charge : £73.61
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12 comments:

Talkbet said...

Mate, it's a system I use often following Pompey! Last season, the day before the Final I layed us to win it. If we lost then my winnings covered my travel, drink, food, ticket etc. We won anyway so I didn't mind losing the money!
My 'best' one was laying us at 2-0 up at home to AC milan in the Uefa Cup this season @ 1.05. They got it back to 2-2 and I won £500. It paid for my trip to Wolfsburg for the next game a week later!

Mark Iverson said...

Hi Talkbet,

It seems common sense to me! :-)

Winning £500 in the process does sound like having the cake and eating it though!

All the best,

Mark

Anthony said...

I completely agree. Being a Nottingham Forest supporter it's been practically free money to lay them!

Anonymous said...

Hi

Great blog!

I have added a link up at my new blog at www.thebettingpro.com

If you could send me a link back that would be much appreciated.

Cheers
Pete

Mark Iverson said...

Hi Anthony,

Ouch....Nottingham Forest! :-)

All the best,

Mark

Mark Iverson said...

Hi Pete,

Many thanks for the link and good luck with the blog.

I'll return the favour today.

All the best,

Mark

Anonymous said...

Blog is now rubbish...

THE-IRONHORSE said...

Hi mark,

What sort of % do you look to win per event/match you trade? For example are you happy with say 15%. so if you are using £100 per trade, would you be pleased with £15 greened up?

james

Mark Iverson said...

Hi Iron Horse,

I find looking to make a certain % on any event hinders my outlook as it can lead to making poor decisions. Therefore, the first thing I aim to do is just make a profit.

If I get myself into a good position then I just aim to be patient and wait for the right opportunity to come along. When it does, I then aim to hit it hard and make the most of it.

Sorry if this doesn't really answer your question but I guess I'm saying - if things fall in your favour then aim to make as much as possible and if they don't then do nothing.

All the best,

Mark

THE-IRONHORSE said...

cheers, that makes sence i suppose, because if you stop for examlple at 20% profit. you could miss an even bigger opportunity to make more.

thanks for the reply mate.

Kevin VV said...

hi there,

i am interested in learning the sports tradingbusiness on Betfair.

Is there a way that anybody can help me out?
Just looking for more information and what markets to bet on and such..

Thanks,
Kevin from Belgim
kvvwebdesign@gmail.com

Mark Iverson said...

Hi Kevin,

If you have any specific questions then feel free to ask me via my blog. Another good way is to visit the Betting/Trading forums via the links on my blog - you can usefully find someone willing to help there.

All the best and good luck,

Mark