Quote: sootyj @ March 11 2012, 10:09 AM GMTThey always win even if they have to wait a while.
Yes, it's called the Gambler's Ruin.
http://en.wikipedia.org/wiki/Gambler%27s_ruin
But it's still possible to win in the short term.
The gambling thread Page 17
How long is the 'short term' ? Jinky.
The minute you've made a profit (however big or small) and walk away, never to return!
So that's anything from 5 seconds to decades and beyond.....
Quote: bigfella @ March 11 2012, 7:25 AM GMTWhat sort of money were you staking when gambling "seriously"?
Well the largest amount I ever betted was £800, and I actually lost that time! I'd say £600 was my average stake.
I first got into it one day when I went and sat in a Ladbroke's shop, while I was waiting for a mate to come out of an appointment he had with his Dentist. I started looking at one of the coupons, and decided to do a £10 Handicap bet on 4 of the day's football matches. I had no idea how to work odds out back then, so I was amazed when I eventually won and was handed almost £500. Admittedly I was lucky that day, because I hadn't really realised what a big risk I'd taken.
I've always had a fascination with Chaos theory, or the Butterfly effect. I remember after my win, creating a scenario in my head, where a penniless tramp was walking past a bookies and he finds a pound coin on the floor, which he then uses to place a bet in the shop. He then goes on a massive winning streak, and by the end of the football season he's living in his own mansion. Then I started thinking, I hadn't had to work for my winnings, so why not use them to place more bets and try and work my way up to some real money. I was young and didn't have any responsibilties, so I went for it.
I had some great times over the two years that followed. I won way more often than I lost, because of my tactic of only putting money on massive favourites. The downside of doing that, though, was that I'd lose serious amounts whenever I did fail to win. Eventually bad luck caught up to me (I knew it would one day), and I lost everything. I got to buy myself and my family lots of nice things before that happened though, so I can't complain.
On Saturday morning I was on the Coral website, looking at the large selection of teams that they were taking bets on, from all around the world, and I came up with a list of 11, that I would've felt comfortable staking hundreds on back in the day.
Here's the list, showing each team's original odds and how they got on:
Man Utd, 1/4, 2-0
Celtic, 8/13, 4-0
Bayern Munich, 1/4, 7-1
Ajax, 1/6, 3-0
Cambuur, 2/9, 4-0
Heerenveen, 1/7, 4-2
Olympiakos, 1/4, 3-0
AC Milan, 1/4, 2-0
Vasco Da Gama, 1/5, 3-0
Braga, 1/4, 2-1
Porto, 1/7, 1-1
Quote: Jinky @ March 11 2012, 10:28 AM GMTYes, it's called the Gambler's Ruin.
http://en.wikipedia.org/wiki/Gambler%27s_ruin
But it's still possible to win in the short term.
I prefer mothers ruin
I would say it is possible to make £30 a day by placing odds on bets, if you have sufficent income at your disposal to covering losing bets and you don't get greedy and try to win more than the £30 a day.
Oh yeah, I forgot to mention, with Utd winning 2-0 yesterday, I now only need Real to beat CSKA by 2 goals or more to win my Handicap treble.
Oh, and by the way, I noticed Everton are a very generous 4/1 to win the Merseyside Derby at Anfield tomorrow night. I've got a feeling we're gonna win, so I might put a fiver on them.
Quote: catskillz @ March 12 2012, 9:31 AM GMTOn Saturday morning I was on the Coral website, looking at the large selection of teams that they were taking bets on, from all around the world, and I came up with a list of 11, that I would've felt comfortable staking hundreds on back in the day.
Here's the list, showing each team's original odds and how they got on:
Man Utd, 1/4, 2-0
Celtic, 8/13, 4-0
Bayern Munich, 1/4, 7-1
Ajax, 1/6, 3-0
Cambuur, 2/9, 4-0
Heerenveen, 1/7, 4-2
Olympiakos, 1/4, 3-0
AC Milan, 1/4, 2-0
Vasco Da Gama, 1/5, 3-0
Braga, 1/4, 2-1
Porto, 1/7, 1-1
I've just corrected the Olympiakos result, as they won 3-0, not 4-2.
As you can see, that Porto result could've been a real spanner in the works for a serious gambler! I was thinking, maybe there were some internal wranglings going on at the club, that affected the way the team played during that game. I did a bit of research, and found out that their star player, known as "Hulk", actually wants to leave the club. Maybe that had something to do with it.
Cheltenham festival tomorrow!
Backed Al Ferof with PP - if the favourite Sprinter Sacre wins instead, you get your money back
Plus can't resist an eachway on Binocular at 9/2
Is it just my inherent suspicion of horse racing or does anyone else think there is something a bit fishy about the Kauto Star affair?
'There are more things in heaven and earth, Horatio,than are dreamt of in your philosophy.'
Believe me mate you are far from on your own in thinking that
Which is why I took 4/1 when he was "50/50" to run
Was always gonna run....
Quote: Oldrocker @ March 12 2012, 10:00 PM GMTIs it just my inherent suspicion of horse racing or does anyone else think there is something a bit fishy about the Kauto Star affair?
I've never understood why people bet on horses. The whole sport is bent from the top down (even the Queen managed to get involved in a doping 'scandal') and, even if the 'sport' was 100% honest, you are putting money on some of the most nervy and temperamental animals in existence.
So, by my logic, turtle racing is where it's at...but a quick look at Wikipedia reveals
Turtle racing has garnered controversy at times due to the treatment of turtles and the gambling that occurs at many races. The annual turtle races at the Gala Days in the Canadian village of Ailsa Craig have drawn particular scrutiny. After news of the annual turtle race was popularized in 2010, the Ontario Ministry of Natural Resources told the organizers to cancel the event. Ministry officials intervened due to wild turtles being caught in a nearby river in order to be used in the race, threating to fine anyone who entered a wild animal in the race.
Ladbrokes are offering a free £5 bet on the first day of Cheltenham. (For everyone, even existing customers)
Guinea pig racing in Cuba is the next best. Ask Moxey.