May be a waste of money......but

[MagnetsAndHangers]

I gamble 7 days a week - mainly trading on betfair greyhound markets.
Profits are low per race, but with average of 100 races per day, 19 days out of 20 I will profit.
I also belong to a couple of syndicates - one in particular is laying horses to lose - they do ok - all bets are no higher than 4/1.
I have been with them now 3 weeks, and 19 out of 21 have lost, so in profit there.

Took a chance a joined another one last night - cost £39.99.
They reckon that they will turn £100 starting bank into £10,000 in a season.
Last season they did it in 95 bets. Found out now, it will be be laying teams NOT to win various games all over Europe. Stakes will never be higher than 5% of the total bank.
By my calculations, increasing a £100 bank by 5% each bet, it needs 88 winning bets to reach £10,000.
For the sake of £100 ive given it a bash.

Will save me picking out my own bets this season as the above, and other bets are emailed every day.

[DanTheMan3]

I never bet on the horses.
Seen to many people come to grief.

[MagnetsAndHangers]

I never bet on the horses.
Seen to many people come to grief.

I know what you mean on that one - apart from the laying service above, I dont touch them now.
Even the greyhounds I do each day - i dont look at the form or even wait for the race to be run. All trades are closed before each race starts

[Spyder1942]

nobody wins but the bookies

[deeangelvampire]

nobody wins but the bookies

Very true.

[MagnetsAndHangers]

nobody wins but the bookies

Betfair is not a bookies.

[deeangelvampire]

Betfair takes bets don't they?

[MagnetsAndHangers]

Betfair takes bets don't they?

Nope.

[inversions]

The bookies usually win because people make silly bets. If you make sound bets you should come out on top. I joined betfair before Euro 2008 started and just betting on those matches I made about £20. Sensible bets, mostly.

By making silly bets, after a few drinks, I have seen almost all this profit evaporate.

Betfair is not a bookies, it is a venue where people make bets against each other, by the way!

It is certainly possible, with the right knowledge and the correct restraint, to make money from gambling. The idea is that you combine back and lay bets so that you cannot lose. Sounds immpossible? It is not, if you have the time to devote to it!

[photopheline34]

Well, best of luck OP.

I personally never gamble... (well, apart from the occassional lottery ticket and grand national).... because I don't find it fun. But if people can make money from it, then best of luck to them.