Betting Exchanges such as Betfair.com - anyone partake?

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27 May 2004, 03:32 PM

Bravo2zero_sps

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Betting Exchanges such as Betfair.com - anyone partake?

Mate at work is trying to explain to me why its such a good way to win lots of money. I can't believe there is any form of gambling out there that has a high chance of earning extra cash. He doesn't bet large sums, just a few quid each time but to me it seems a slippery slope.

The idea is to bet against horses, inparticular against the favourite

So I asked him what the results were like for favourite coming in and apparently its pretty low at around 37%.

Anyone on here do this kind of gambling and what have your results been like? I don't have money to lose so wont be doing it (never even been on a fruit machine let alone betting shop/site) but just interested to know if its really as profitable as a lot of people seem to think it is. Just find it an interesting concept to bet against something a lot of people are betting on to win.

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27 May 2004, 04:27 PM

gsm1

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It's worth a try. I started with just small change to see what percentage I could make.
I signed up for William Hill online during the last world cup. Started with £75 then used to just make bets between £2 and £12 on the WC matches. I made up to about £125 but have lost most of it since with stupid high bets. When I first started to slip down the ladder I then increased the bets on supposed 'sure winners' to make it back up quickly but made a couple of blunders. That bloody Hewitt was a certainty to win a certain Tennis match and the silly bugger lost.

There was a documentary a couple of years back about a guy who made around £50k a year, spread betting. But you definitely need a lot of experience to get where he is.