Odds-On Gambling?
Discussion
Curious if anyone has any experience of odds-on gambling to make a little extra pocket money?
Of course there's a risk that you lose your stake, and it's different when you're not staking a tenner or so on a game, but ignoring the amount of money and simply playing the odds, I can't help but wonder if sticking a tenner on Man United in every match they play would statistically and consistently mean you end the year a lot better off than if you'd kept putting a tenner in the bank and making 2.5%?
Of course there's a risk that you lose your stake, and it's different when you're not staking a tenner or so on a game, but ignoring the amount of money and simply playing the odds, I can't help but wonder if sticking a tenner on Man United in every match they play would statistically and consistently mean you end the year a lot better off than if you'd kept putting a tenner in the bank and making 2.5%?
Truckosaurus said:
Spending 2 minutes on oddschecker and wikipedia shows that you might get 4/6 on a Man Utd victory, and last season they won 23 from 28 league games.
If you got those odds for every game and bet a tenner each game you'd make a profit of £3 at the end of the season.
No. They drew 11 and lost 4 out of 38 games, winning 23. No such thing as odds on. Unless you are opening up a bookies? If you got those odds for every game and bet a tenner each game you'd make a profit of £3 at the end of the season.
Bing o said:
No. They drew 11 and lost 4 out of 38 games, winning 23. No such thing as odds on. Unless you are opening up a bookies?
Indeed, a typo on my behalf... I got the numbers in my sums right though, so the initial claim that you'd effectively break even is correct. Still a mug's game.Truckosaurus said:
Bing o said:
No. They drew 11 and lost 4 out of 38 games, winning 23. No such thing as odds on. Unless you are opening up a bookies?
Indeed, a typo on my behalf... I got the numbers in my sums right though, so the initial claim that you'd effectively break even is correct. Still a mug's game.The odds are pretty well-calculated for each game so you will break even or be slightly under depending on which service you use. For a month, I tried using something more complicated than "back the favourite in every game" based on one team scoring a goal in the first half and even that had me around break-even less commission on Betfair. Doing it at a normal bookmakers would have me losing more overall as the odds are not so good usually.
I bet strictly for fun on Betfair and only now and then....mostly on cricket but also on football. I like being able to lay bets....my personal view is that you are a little ahead of the game when laying bets as you obviously have to put a decent amount of money at risk to win anything....and a lot of people won't do that.
Football I probably break even on football over all but I normally do okay on cricket...touch wood. There seem to be more anomalies or what I would call very good risk/reward bets in cricket compared to other sports.
Football I probably break even on football over all but I normally do okay on cricket...touch wood. There seem to be more anomalies or what I would call very good risk/reward bets in cricket compared to other sports.
Beardy10 said:
I bet strictly for fun on Betfair and only now and then....
That's my intention. I put in £20 a couple of weeks back so far I'm up to £73. Of course there's a world of difference between punting a tenner on Man United/Barca or whoever tends to consistently win, and having the balls to have a larger risk for larger reward.Put it this way, if you took City vs. Swansea my "pot" was at about £50 so I put it all on City as to my mind I'd be losing my initial £20.
Would I have been prepared to put a grand on them? Not a f
king chance, I don't get how people can do that.Try the stock exchange!!!
I bought some shares about 3 months ago for 5.71, sold them a month ago for 6.58, bought them back last week at 5.77, they are back up to 6.12 today, looking to sell at 6.60, and then watch them fall again, and buy again.
The amount I'm "gambling" had a 10 in it at the start.
I bought some shares about 3 months ago for 5.71, sold them a month ago for 6.58, bought them back last week at 5.77, they are back up to 6.12 today, looking to sell at 6.60, and then watch them fall again, and buy again.
The amount I'm "gambling" had a 10 in it at the start.
Mr POD said:
Try the stock exchange!!!
I bought some shares about 3 months ago for 5.71, sold them a month ago for 6.58, bought them back last week at 5.77, they are back up to 6.12 today, looking to sell at 6.60, and then watch them fall again, and buy again.
The amount I'm "gambling" had a 10 in it at the start.
I take it you work for an IBs Prop Desk with that level of ability?I bought some shares about 3 months ago for 5.71, sold them a month ago for 6.58, bought them back last week at 5.77, they are back up to 6.12 today, looking to sell at 6.60, and then watch them fall again, and buy again.
The amount I'm "gambling" had a 10 in it at the start.
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