Betting 3% Challenge. This time next year Rodney.......

[Pesam]

A wise man (okay, it was Senor Vantage) entertained us last season with the notion that if you start with a bank of £10 and win 3% per day you will end the year with £500,000 (or near enough). Many of us tried and all of us failed although a few performed admirably (I myself turned £10 into about £300 before crashing & burning).

The main problem I encountered was the pressure of keeping up with the 3%, I was always chasing and therefore made a few foolish bets at the end which wiped me out. This season I am going to keep a target of 3% BUT I am going to allow myself to fall behind target as long as I stay ahead of a target of 1% per day.

A target of 3% results in a £500,000 profit for a £10 stake but also worth considering is that 2% per day = £12,370 and even 1% per day results in a profit of £360. To win £360 from a £10 start is still a very impressive result and worth the effort.

I will only be betting on football but feel free to bet on any sport. I will post the weekly target for 1%, 2% and 3% at the start of every week at the bottom of my posts.

Hopefully a few of you will join me on this challenge and to those who didn't see last years a word of warning, steer clear of Senor Vantage's tennis tips, the man is a jinx.

 

[HC]

Im in.

Footy only for me too.

 

[Spionkop69]

I'm doing something similar on a week by week basis.

Instead of sitting on the balance, I'm banking profit daily. Since Saturday I'm up £130 on the footie bets. Should be £180 but I did some silly hedging which cost me.

The aim is make £150 a week / £20 quid a day.

I may also run the 3% thing alongside it. My only tip would be, don't bet in play to cover a potential loss, trust your original judgement. Also do some research and plan your bets., if nothing takes your fancy, don't back anything - its all about discipline. I turned £25 into £700 and then started taking risks and eventually banked approx £300. Still good but I got greedy and paid the price by backing stupid games in countries I knew nothing about.

 

[Whitey85]

I do something similar whenever Skybet or whoever gives me a free bet. I just bet with my free money and build it up then bank it when im happy.

 

[Pesam]

I hope young Mr. Rederer joins in and proves his betting prowess.

 

[amber cabs]

I probably dont have the patience for this game but I'l try!

I may start with more than £10 though. Will post all my bets anyway though!

 

[Pesam]

[quote author=amber cabs link=topic=26126.msg645371#msg645371 date=1218728225]
I probably dont have the patience for this game but I'l try!

I may start with more than £10 though. Will post all my bets anyway though!
[/quote]

I've been toying with the idea of starting with £100 because it is impossible to lay, say for instance, the 0-0 draw in a game with only a £10 bank. Starting with whatever bank you feel comfortable with let's see who can achieve the highest percentage profit.

 

[Brizzle]

I'll give this a go.. will be pretty much be only footy for me aswell.

This is almost certainly a silly question, but essentialy you mean on day 1 you have £10, then you want to start day 2 with £10.30.. and then the next day have £10.61 etc..

so to do that you'd just for example bet £2 of the tenner on a bet with odds of 1.15..

who'd have thought i got an A in maths at gcse!

 

[amber cabs]

[quote author=Bristow link=topic=26126.msg645400#msg645400 date=1218730362]
I'll give this a go.. will be pretty much be only footy for me aswell.

This is almost certainly a silly question, but essentialy you mean on day 1 you have £10, then you want to start day 2 with £10.30.. and then the next day have £10.61 etc..

so to do that you'd just for example bet £2 of the tenner on a bet with odds of 1.15..

who'd have thought i got an A in maths at gcse!
[/quote]

That would be correct !!!
You can do up a handy spreadsheet on excel in 2 minutes to see what you should have at each day.

 

[amber cabs]

[quote author=Pesam link=topic=26126.msg645386#msg645386 date=1218729047]
[quote author=amber cabs link=topic=26126.msg645371#msg645371 date=1218728225]
I probably dont have the patience for this game but I'l try!

I may start with more than £10 though. Will post all my bets anyway though!
[/quote]

I've been toying with the idea of starting with £100 because it is impossible to lay, say for instance, the 0-0 draw in a game with only a £10 bank. Starting with whatever bank you feel comfortable with let's see who can achieve the highest percentage profit.
[/quote]

Was thinking of €100 too but reckon I'l go €50 due to ahem "cashflow difficulties"!

Thats it, I'm starting this evening

 

[vantage]

I'm in. I'll have to wait til Monday before I start posting bets as I'm s'posed to be on holiday and wifey will get the arse with me if I spend too much time in here.

 

[Red_Till_I_Die]

I'm in - £10 to start off with ... I have a feeling this will need to be topped up again soon.

Rebecca Adlington to win the 800m freestyle - 4/11, a slow and steady return of £13.64.

 

[Pesam]

My challenge starts tomorrow (£100 bank) and my first bet is £5.20 laying the Wycombe victory @ Chester to win £4.

For novice gamblers, laying means opposing i.e. Chester win or a draw results in a £4 profit for me.

 

[Brizzle]

slow and steady return?! that would be 30% in a day..

 

[Red_Till_I_Die]

[quote author=Bristow link=topic=26126.msg646111#msg646111 date=1218813211]
slow and steady return?! that would be 30% in a day..
[/quote]

Haha, true. It means I can have a few days off.

 

[Spionkop69]

[quote author=Pesam link=topic=26126.msg646075#msg646075 date=1218812046]
My challenge starts tomorrow (£100 bank) and my first bet is £5.20 laying the Wycombe victory @ Chester to win £4.

For novice gamblers, laying means opposing i.e. Chester win or a draw results in a £4 profit for me.

[/quote]

Hmm laying the team playing the team who's been battered twice in a week? That's a touch risky.

 

[amber cabs]

I started with €50 and had a stupid €4 on city last night. Great start. Stupid €4 minimum bet on betfair

 

[Pesam]

[quote author=Spionkop69 link=topic=26126.msg646145#msg646145 date=1218814391]
[quote author=Pesam link=topic=26126.msg646075#msg646075 date=1218812046]
My challenge starts tomorrow (£100 bank) and my first bet is £5.20 laying the Wycombe victory @ Chester to win £4.

For novice gamblers, laying means opposing i.e. Chester win or a draw results in a £4 profit for me.

[/quote]

Hmm laying the team playing the team who's been battered twice in a week? That's a touch risky.
[/quote]


Correct, although there is not much between these teams, both as poor as each other IMO so I (wrongly) assumed it was a good price.

£10 on a Scum victory today to win £2.90

 

[Pesam]

Inauspicious start, two losing bets out of two, bank down to £84.80p. I have put the target for next weekend in the signature at the bottom of the post.

 

[Red_Till_I_Die]

Early days I know, but gonna put my £13.64 on one of the following:

* Clay to win the Decathlon at 1/4 (returns £17.05)
* Idowu to win the Triple Jump at 8/13 (returns £22.03)
* Bekele to win the 5000m at 13/8 (returns £35.80)

Tempted to put my 70p winnings from my Prediction League bets on as a treble if I can.

 

[QUADRASPAZ]

Come the end of the month i'm gonna start on this like.

 

[bryndaloo]

Tenner start for me.

Will start on the weekend.
Going to a Betfair Education event thing at Old Trafford Cricket Ground tomorrow which was a free event that Betfair invited me to. Should be quite interesting.

 

[Pesam]

I like the look of the attacking line up Wales are rumoured to be starting with tonight and I need to get back towards my starting bank so wtf £84.80 laying the Georgia victory to win £17.30.

 

[amber cabs]

[quote author=Pesam link=topic=26126.msg651652#msg651652 date=1219239869]
I like the look of the attacking line up Wales are rumoured to be starting with tonight and I need to get back towards my starting bank so wtf £84.80 laying the Georgia victory to win £17.30.
[/quote]

ouch

 

[bryndaloo]

[quote author=Pesam link=topic=26126.msg651652#msg651652 date=1219239869]
I like the look of the attacking line up Wales are rumoured to be starting with tonight and I need to get back towards my starting bank so wtf £84.80 laying the Georgia victory to win £17.30.
[/quote]

Never bet on those Welshies...

Never mind, back here you go:

 

[Pesam]

[quote author=bryndaloo link=topic=26126.msg652796#msg652796 date=1219307429]
[quote author=Pesam link=topic=26126.msg651652#msg651652 date=1219239869]
I like the look of the attacking line up Wales are rumoured to be starting with tonight and I need to get back towards my starting bank so wtf £84.80 laying the Georgia victory to win £17.30.
[/quote]

Never bet on those Welshies...

Never mind, back here you go:

[/quote]


Bleedin' sheep shaggers let me down.

But Bryndaloo you'll be relieved to know that I changed my mind later and bet on Scotland not winning their game for a nice £121 profit (evidence below)!! However in the context of the 3% challenge I will adhere by my prediction but will give it another go at the weekend.


(relates to event settlement date)



(yyyy-mm-dd hh:mm) to


(yyyy-mm-dd hh:mm)



Soccer: GBP121.15 Total P&L: GBP121.15


Soccer Showing 1 - 1 of 1 markets

Market Start time Settled date Profit/loss (£)
Soccer / Scotland v Northern Ireland : Match Odds 20-Aug-08 20:00 20-Aug-08 21:53 121.15


Profit and Loss is shown net of commission.

 

[bryndaloo]

Can I heartily recommend people that should they get the chance to go on one of the Betfair education events that they take up the offer.

It was very informative and taught me a great deal especially about Green Book trading and other interesting ways to increase my chances of amking money.

Free gifts including a Betting on Betfair for Dummies book (RRP £9.99).

Also the free bar all night and free food was a little plus point.

 

[Pesam]

[quote author=bryndaloo link=topic=26126.msg653125#msg653125 date=1219323423]
Can I heartily recommend people that should they get the chance to go on one of the Betfair education events that they take up the offer.

It was very informative and taught me a great deal especially about Green Book trading and other interesting ways to increase my chances of amking money.

Free gifts including a Betting on Betfair for Dummies book (RRP £9.99).

Also the free bar all night and free food was a little plus point.
[/quote]

can I borrow the book after you're done with it?

The Green Book trading, is that about getting all green on certain markets? Yesterday I put a big wad against the Scotland victory as I suspected they were over-priced. The price changed and I was able to go all green at kick-off which meant whatever the outcome I was going to win over £120 - it's a nice way to watch a game

You around at the weekend?

 

[bryndaloo]

Aye, that's the one.

They were showing us how to play the Under/Over 2.5 goals market and make small amounts in minutes (and I mean small amounts 30p etc.) but the system is transferrable to larger amounts.
There was also an interesting thing they did on the horses which I'll tell you about as it's a tad too complicated to explain here.

I nabbed two of those books so you can have the spare for the price of a few pints!

Should be about at the weekend but very skint so not a full scale Didsbury bank holiday for me mores the pity!

 

[bryndaloo]

Well, I'm on the trail again...

Started on the Wrexham v Oxford Under 2.5 goals market last night using some tips from the Betfair seminar. Banked myself a cool 29p after 5 minutes.
Given that I had 1p left in my account from the last time I tried this it took my balance up to a mighty £10.30 and on target!
My plan is to chuck another £10 in at the end of the month and then crack on from there.

This time next year...