[Misc] Has anyone tried the Martingale betting method

[knocky1]

I’ve made 16.2% profit over the last four years, now is not the time to stop The main problem is getting a bookie to take my cash. I gave up decent salary to have better lifestyle and tomorrow I shall be playing golf instead of sitting in an office and will be able to continue working too, thanks to the wonders of modern technology. It’s not for everyone though but I can assure you that bookies do not always win.

Fair play to you but I'd rather lose at betting than play golf....
Out of interest what is the investment over 4 years that the average annual 16.2% is derived from. Must be an annual 6 figure sum and surely that must alert a few bookies.

 

[Bozza]

At that level do the bookies not cut you off much quicker?

You'll still be betting relatively small, but if gives you scope to do multiple new customer offers at a time. Most of the money will be in an exchange, eg Betfair or Smarkets, and not with bookies themselves.

This is because when you are laying a bet, you need multiples of your stake in the exchange to cover potential liability, eg if you were backing/laying Albion tonight...

Bookie, £30 @ 4.2
Exchange lay £28.77 @ 4.4 - you will need £97.82 in the exchange to cover the potential liability of us winning.

If you were doing multiple offers at once, this liability would increase, although you could cover off a West Ham win and/or a draw as liability cancels itself out as only one of the three outcomes can happen.

 

[knocky1]

You'll still be betting relatively small, but if gives you scope to do multiple new customer offers at a time. Most of the money will be in an exchange, eg Betfair or Smarkets, and not with bookies themselves.

This is because when you are laying a bet, you need multiples of your stake in the exchange to cover potential liability, eg if you were backing/laying Albion tonight...

Bookie, £30 @ 4.2
Exchange lay £28.77 @ 4.4 - you will need £97.82 in the exchange to cover the potential liability of us winning.

If you were doing multiple offers at once, this liability would increase, although you could cover off a West Ham win and/or a draw as liability cancels itself out as only one of the three outcomes can happen.

Sounds easy money!

 

[darkwolf666]

A better plan.

- Work out your maximum loss before you have to give up.

- Send me half of that instead of betting on this scheme.

- Win-Win an equal amount for both of us. Cheers.

Thanks for the very kind offer, but I will pass. Besides which there isn’t a maximum loss but a maximum bank.

 

[Bozza]

Sounds easy money!

It is. As I've said before I only took it up because NSC was approached by an advertiser and whilst I'd heard of Matched Betting before, I'd never tried it and, if I'm being honest, I had it filed under "If something sounds too good to be true..."

Six or seven months later I was around £15k up. My caveats to my earnings are that:

1) I wasn't working so I could devote as much time to it as I cared to.
2) I had a large bank of cash to put to work to expedite things.

However, I'd say that anyone who has a few hours free a week that would otherwise be spent in front of the TV could earn a nice little side income for a period of time if they so wish.

 

[Questions]

Blackjack, if you follow basic strategy, will return over 99.5% to the player. Roulette in its various forms gets nowhere near this.

Agree the house has only a 1% on basic strategy but human error is not factored in on general blackjack casino returns . Once you’ve made your bet on roulette the odds are static......not so on Blackjack.

 

[knocky1]

It is. As I've said before I only took it up because NSC was approached by an advertiser and whilst I'd heard of Matched Betting before, I'd never tried it and, if I'm being honest, I had it filed under "If something sounds too good to be true..."

Six or seven months later I was around £15k up. My caveats to my earnings are that:

1) I wasn't working so I could devote as much time to it as I cared to.
2) I had a large bank of cash to put to work to expedite things.

However, I'd say that anyone who has a few hours free a week that would otherwise be spent in front of the TV could earn a nice little side income for a period of time if they so wish.

Did you continue to earn £15,000 every 6 months or did you get bored?

 

[crookie]

Wouldn't recommend. Hit about 10 red in a row betting black doing Martingale. Then you're up to max stakes and screwed. Recommend Matched Betting, made over £40k doing it over a few years. The golden days for that are long gone sadly, as are most of my accounts with UK bookies !!

Sent from my SM-G930F using Tapatalk

 

[Billy Seagull]

Fair play to you but I'd rather lose at betting than play golf....
Out of interest what is the investment over 4 years that the average annual 16.2% is derived from. Must be an annual 6 figure sum and surely that must alert a few bookies.

Yes, it’s comfortably six figures. I can’t get a bet on in my name but there are always ways round it like using friends accounts, visiting shops in different areas to spread the cash around and also Botfair but that means something called the Premium Charge comes visiting. It’s a fun lifestyle and means I get to go racing on a regular basis too.

 

[darkwolf666]

Yes, it’s comfortably six figures. I can’t get a bet on in my name but there are always ways round it like using friends accounts, visiting shops in different areas to spread the cash around and also Botfair but that means something called the Premium Charge comes visiting. It’s a fun lifestyle and means I get to go racing on a regular basis too.

Premium charge doesn’t come in until quarter of a mill, so you are doing well!!!

 

[Gazwag]

Yup. 8.7k so far. Can highly recommend it.

Ditto 9.6k for me

 

[Billy Seagull]

Premium charge doesn’t come in until quarter of a mill, so you are doing well!!!

Not any more unfortunately. It kicks in if the amount of commission paid over the lifetime of the account is less than 20% of the gross profits. It’s criminal really but there is no other alternative. I just look at it as a tax and stake more to cover it when I know I’m going to have to pay it.

 

[knocky1]

Not any more unfortunately. It kicks in if the amount of commission paid over the lifetime of the account is less than 20% of the gross profits. It’s criminal really but there is no other alternative. I just look at it as a tax and stake more to cover it when I know I’m going to have to pay it.

I'm doing well at 47% commission to profit over 14 years. You must be losing/matching a lot elsewhere?

 

[LVGull]

You'll still be betting relatively small, but if gives you scope to do multiple new customer offers at a time. Most of the money will be in an exchange, eg Betfair or Smarkets, and not with bookies themselves.

This is because when you are laying a bet, you need multiples of your stake in the exchange to cover potential liability, eg if you were backing/laying Albion tonight...

Bookie, £30 @ 4.2
Exchange lay £28.77 @ 4.4 - you will need £97.82 in the exchange to cover the potential liability of us winning.

If you were doing multiple offers at once, this liability would increase, although you could cover off a West Ham win and/or a draw as liability cancels itself out as only one of the three outcomes can happen.

Is it easy to get used to if not used to betting? How do Profit Squad make their money?

 

[Billy Seagull]

I'm doing well at 47% commission to profit over 14 years. You must be losing/matching a lot elsewhere?

Botfair accounted for 37% of my overall steaks last year but 48% of my overall profit at an ROI of 16.6%. My ROI last year was 12.9%, the books got very lucky in May and June when I had a terrible run but that does mean I haven’t paid the premium charge sine April but it is very close again now.

Over the last four years Botfair has accounted for 23% of my steaks and 32% of my profit which shows how much my business has shifted from the books to the machine due to tens of restricted accounts.

 

[Bozza]

Is it easy to get used to if not used to betting? How do Profit Squad make their money?

You will take it slowly to start with, making sure your back bets and, more importantly, your lays are correct, and you almost certainly will make an odd mistake. However, you will quickly be backing and laying without giving it much thought at all - it becomes second nature.

Profit Squad make their money from membership fees and from new customer introductions to bookies.

 

[Herr Tubthumper]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

The best way to make 900 in a month is to start with twice that amount.

 

[melias shoes]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

Nope never tried that method
Often try the chance your arm method. Sometimes I win but mostly I lose.

 

[exKT17]

I'm no statistician, and I've lost money gambling in all sorts of ways, not big amounts, but still losses. And to Norman Potting I say Premium Bonds are safe but meagre gruel.

But there is one way I've done all right, strangely it was recommended by a financial adviser, he said to me to put a few quid in, only what you can afford to lose.

He gave me a name and an address and seconded me to join a racehorse betting syndicate: it works thusly:-

You buy a share at £200 (or multiples thereof) and six months later get a statement saying it's now worth say £230 (or multiple) and do you want to buy a second share for £170... and so on and so on.

This was about 20 years ago and I had built up quite a few shares when a friend says to me - "this is a classic Ponzi scheme, mate - watch yourself!"

So since them I have periodically drawn out my own input stake money in lumps - a few thou each time - in all enough to buy a new Ford Mondeo - and still have enough winnings in the scheme to buy a new Ford Ka.

Happy days and all legal and tax free. Withdrawals always come back by return.

He even sends me a Christmas card.

(If my other mainstream investments had produced the 15% +/- annual return of this 'Ponzi scheme' I'd be a very, very happy man!)

 

[Crispy Ambulance]

Not seen it mentioned on here but does anyone use GoalProfits.com?

They're all about trading, laying (and backing) first half/second half draws, overs and unders,etc. They've got a great training manual and provide a multitude of stats to help trade selections, as well as a Live Trading Module which scrapes in play stats for the last 10 minutes at any point in a game showing further trading opportunities. The Aussie A-League is particularly lucrative at the moment as there's usually a minimum of 2-3 goals per game meaning that decent money can be made on overs, first half goals, etc. Well worth a look and something I'm planning on doing full time in the future (once I've become better disciplined!).