In a previous post (see Gambling: How to go bankrupt with Betting Exchanges) I was lured me into the murky world of gambling on betting exchanges
with the promise of free money..... well they have done it again !
This time Betfair offered £10 worth of free bets if you placed £10 in bets across two markets, Wimbledon Tennis ! Mens singles winner (without Federer) and Womens singles winner. Going against my own advice, I decided to leap into an area I know nothing about (it's free money - right ? :-) )
I decided on a lazy strategy of simply picking the 2nd favourite in each case, Lleyton Hewitt and Justine Henin-Hardenne. As luck would have it, they both got as far as the quarter finals now, so I have now sold my positions and will still get a reasonable profit if either win, but will get my £10 back whatever happens !
Feeling a bit adventurous, when I heard that "Barrys Bismark" (Channel 4 racing) was red hot favourite "Hard Top" in the 3 o'clock at Newmarket on Saturday (1st July) I decided to try and make a book on that race, laying off the 5/4 favourite (meaning I don't want him to win) My favoured filly was Ouninpohja who unfortunately ended up 2nd to Admiral's Cruise, so although I didn't make my fortune I did make a small profit overall.
This time round it is "so far so good", as my £10 investment currently sit's at around £22 (assuming I haven't picked the Wimbledon winners) but need to get time to investigate the markets and focus on the odds and options available.... will report back sometime to update with progress and what seems to be strategy to take (or for you to avoid if I loose it all again)
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