Archive for June, 2010

More about penalties

Following the recent chatter on penalties, I note the absence of them so far! Somebody posted on the forum about a very useful tool that you can use.

I didn’t know this existed, so thanks to the poster for finding it. It confirms what I was talking about, but more importantly it could prove very useful if a match goes to penalties. This is because it allows you to examine all previous results from the penalty takers and savers. Very useful.

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Ouch, that’s embarrassing

I don’t think it needs any more comment really does it? Apparently the English league is the most competitive and highly paid in the world with some of the best individuals. And individuals they will remain!!!

I’ve consoled myself by smashing into a few horse races that followed the match, sorry about that! But one of them was the Irish Derby, too good to miss. Grabbing a few hundred will allow me to drown my sorrows tonight.

Obviously blatter is happy to see this time and time again

Obviously blatter is happy to see this time and time again

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Coin flippers re-union at 3pm

Had a look at THE match stats this morning.

The market has priced in just a shade over two goals for the Germany vs England match. England have a 0.10 goal advantage. The market is pricing in a tight nervous affair where one goal could be enough, but a draw is the most likely result. Obviously if you share two goals amongst two teams then a draw is very likely.

I sense a nervous two hours come 3pm but having read the Germany press this morning, putting the rally calls aside, Germany seem equally nervous after there last two performances. This is where managers and tactics can make a big difference.

I won’t be taking a position during the match for obvious reasons, but will be trading pre-off. Good luck if you are having a go. Going to be a great day in the UK for watching the match, will it be a memorable one?

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The maths behind penalities – Part Two

Yesterday we saw that goalkeepers are basically glory seekers, or at least showing that they understand the psychology of failing the right way. Today we give a final answer on what David James should do if faced by a German penalty today.

Often the best way to look at something is to turn it on it’s head. When we looked at penalities we saw that while kicks are randomly distributed, the goalkeepers actions are not. So lets look at when they get it right.

In the sample we were looking at, 32/268 penalties were ‘saved’, around 11%. Saved shots were reasonably equally distributed whether the taker sent them left right or down the middle. But, when you combine this with goalkeeping stats one thing really stands out. If the goalkeeper stands in the middle and a shot is sent in roughly that direction, it was saved 60% of the time. This is more than double the rate at which a goalkeeper who guesses right can save a kick. Obviously if a shot is sent left and the goalkeeper goes right the strike rate is err.. zero.

Whichever way you look at it, standing still is actually a good tactic. It’s difficult to reach the ball in a far corner from a good penalty taker, so it’s better to captialise on nervous takers who don’t want to risk missing. Of course this all depends on one penalty being independant from another. Let on that you are going to stand still and you increase the chance that the ball will not go down the centre. That is where it gets more complex, should your strikers assume the goalkeeper will dive or stand still? Logic tells you to send it into the corner but reality indicates that at least half the time the goalkeeper will dive that way. It all comes down to psychology. With England so fragile I would be tempted to suggest, just keep in on target and hit it hard. James should stand still and be prepared to get it in the neck for ‘not trying’. That should do the trick.

If you want to do more research ahead of today’s match I suggest you visit: -

http://www.penaltyshootouts.co.uk/

For the definite way to take a penalty, I’ll leave it to the master.

http://news.bbc.co.uk/sport1/hi/football/eng_prem/2275796.stm

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The maths behind penalities – Part One

Groups stages, tight games, can’t afford to lose, Germany, England. This must only add up to one thing, penalties!

Are we going to suffer again, will there be the same agony as in prior years? Penalties is another area I have looked at and I think the findings may be of use to any prospective England goalkeeper facing a penalty, football traders may also benefit.

First off, you can reach some easy conclusions. From spot to net, the ball will travel just 12 yards and it is estimated that this will happen in about 0.30 seconds. Stikers should score from this distance! This also forces each goalkeeper to make a decision about what to do, BEFORE, the ball is struck; he has to anticipate which way to dive. He could dive left, right or stand still.

This is where a subtle peice of psychology comes into play, it is what I shall call the action / inaction bias. Imagine the scenario, you know that any goal in a match in the knockout stages will be significant and that by saving a penalty you will almost certainly have a significant impact on the match and on your status. What do you do? If you stand in the middle of the goal like a lemon you could be a national pariah if a goal is conceded. Dive spectacularly and tip it around the post and the praise will come flooding in. What happens is that the goalkeeper ends up facing the same dilemma and regret pang as a gambler or trader. The goalkeeper is fearing the negative consequences of his actions, rather than making a logical and reasoned choice. This fear is so overwhelming it has a strange effect. In 286 matches analysed, the goalkeeper dived in one direction or another 268 times. He went for glory 94% of the time. Did the goalkeeper make a logical choice? To do this you need to analyse where the ball went.

Over the same 286 matches the penalty taker more or less evenly distributed the shots left, right and centre either by design or accident. In the data I looked at there was a bias to the right hand side but there could be many reasons for that. Excluding the bias it was a random shot choice. Therefore the goal keepers definitely were making a sub-optimal decision by choosing to dive so often. Penalty takers struck the ball down the middle nearly 29% of the time, goalkeepers only stood there around 6% of the time! If you are a goalkeeper, standing idly would appear to be a decent choice but as shots were equally distributed then any random choice would be sensible.

If you are a striker then you should engage in some gamesmanship to encourage the goalkeeper to dive, then send the ball down the middle. But there is more logic to taking and saving and that’s what I will cover tomorrow….

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Opportunities

Opportunities are everywhere if you keep your eyes open. I feel I should always be constantly prodding the market to see if I can find new ones. Wimbledon this week has thrown up many, many opportunities but the pleasing thing is that I have found loads of new ones.

When the Isner/Mahut match was drawn at 59-59 I knew I had to do some work to find a way of profiting from the resumption. I’d fiddled around the edges on the day but not with any real intent. That evening I fired up Tennis Trader, worked through some simple scenario’s and put them to use the next day. I had one of those ‘doh!’ moments when I realised initially had missed a pretty obvious opportunity.

Again today, Isner is out on court. I was surprised to see him priced around evens after his efforts in that record breaking match. I just couldn’t see that this was a realistic price and it was quickly apparent that was the case. Opportunities are everywhere if you look. Next one is probably coming up in the North Korea vs Ivory coast match looking at the market.

Keep focused and they will shine out.

100625 - Wimbledon - De Bakker vs Isner - Isner - Odds

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Fantastic stuff

Hope you had fun trading it!

Hope you had fun trading it!

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Just incredible

If you read this blog post in time turn your TV / Internet stream to Wimbledon to witness one of the most amazing matches ever in Tennis History. Mahut vs Isner, will it ever end?!?!

100623 - Mahut vs Isner

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That match

Given the gloom and doom I am almost tempted to back England this evening. But much of that depends on price and what the team looks like when it is announced. The match is priced for 2.56 goals with a 1.60 advantage to England, yeah right! England just haven’t looked a potent threat upfront and I think it’s optimistic to imagine a free flowing high scoring game, lets hope I am wrong!

If you look at the world cup so far though, the market has forecasted around 2.30-2.40 goals a game. On average, I am missing a few matches and not totally up to date, there has only been an average of slightly less than two. This is a low scoring competition! I had forecast this a few months ago when I wrote an article for a magazine. In 1998 there was an average of 2.67 goals, 2.52 in 2002 and 2.30 in 2006. This tournament could see a new low. I suspect this is just due to the fact that the teams are much more competitive now thanks to so many players whose home team is not even in their country of origin now.

Anyhow, come on England!

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What a start!

Wimbledon got off to an amazing start with a near shock elinimation of Federer. In the last ten years there have been lots of seeds falling early, but never the top seed. Reading from the year 2000 we had ranked players going out in the first round as follows. 7,16,9,2,12,11,6,22,4 and 17. Basically, anything is worth a lay. OK the odds at the off are probably an accurate representation of true chance of winning, but from there anything can happen in the match. You can rack up specutacular profits if an outsider comes into contention, for little risk. It is always worth a try.

I have to say though, I was suprised to see just how short his odds were when you consider that Falla almost took the first set off him at the French Open. It seems people have very short memories. Unfortunatley I was unable to trade yesterday afternoon and I am not well today so my week is really going to start tomorrow.

Incidentally Tennis Trader would have given you several excellent exit points in the Federer match yesterday.

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Announcing – Tennis Trader

While there are no English men in the Wimbledon for the fist time in history this year, there will be plenty of traders.

This year you will be able to trade it with complete confidence thanks to a new tool we have created for you, Tennis trader. Whether you are a experienced Tennis trader or not, this unique tool will transform your ability to trade Tennis matches.

The problem with trading any sport is guessing how the odds are likely to move. In Tennis there are an almost infinite number of scenario’s and odds all shifting as the match progresses, so even if you have been trading for some time, this makes predicting the odds a very imprecise science. No longer do you need to guess where the odds are going, Tennis Trader will tell you!

Best of all it’s FREE with Bet Angel. To learn more click on the link: -

http://www.betangel.com/tennis/

100618 - Tennis trader

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Crianza

I’ve had a few beers on Crianza this evening after it romped home at Redcar today. Nothing remarkable about a horse winning a race, but Crianza came in at odds of 1000 and I had money on.

It’s the second time I have managed this, the last time was on Bermondsey Bob at Salisbury in August 2008. Therefore I assume the mean return time of this sort of thing happening is around once every two years. The funny thing was I didn’t even realise at first as I was already looking at the next race and hadn’t paid any attention to the finish of the previous race. It was only when one of the team piped up all excited that I realised what had happened. A major bonus on what has been a very tricky and difficult week.

I am already looking forward to the next one in 2012!

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Not a joke

Honestly, not a joke; but this is the book I am reading at the moment just before I go to bed. It’s actually a really good read and highly recommended for sports traders!

It does what it says on the tin

It does what it says on the tin

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1.05 about to be turned over?

Should England pack up and come home? Traded at 1.05 to qualify last night must have those backers quivering. After failing to beat Algeria, which most teams in the English football league could surely achieve, has there ever been a more defining moment in English national football?

For many, many years we have had loads of great individuals but seemingly no team. Last night showed this up in clear light again and surely the time has come to stop picking individuals and go for a real footballing team. Everybody knows Gerrard and Lampard can’t play together. The Man Utd team is geared around supplying Rooney with chances, England is not. Last night was just a completely inept performance on a scale I have not seen before. At least Gerrard could see that and hung his head while admitting it wasn’t good enough, the less said about Rooney the better. With little to lose why not go radical and put Defoe and Crouch upfront, drop Rooney, Lampard and inject some real energy into the game. If we put out another lame performance, then I think we should scrap the whole thing and start again, we just can’t go on like this.

Over-reaction, maybe, but I did wait till this morning to write this and I think lots of people feel the same.

100619 - Rooney

Some people paid a lot of money to watch that Wayne.

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England’s fate already known

When England step out onto the pitch this evening they will know what they need to do. If the USA get a good result against Slovenia, then England really need to dispatch Algeria with confidence. If not it all goes to the last game. I say this because the English will probably want to avoid the impressive Germans. No point in holding out for a draw in the knockout phase is there?

The US are priced at 2.20 goals against Slovenia with a 0.40 goal advantage. By a coincidence that is the same advantage as a normal match with home advantage, so the market is saying the US are effectively playing at home; well sort of! England are a much more generous 2.70 goals with a 2.00 goal advantage, they should win comfortably, should.

Two mitigating factors in play therefore before England kick off, the US result and how the German’s play in the first match of the day. If Capello is worth his salt he will use these two earlier results to really fire up the team. Which ever way these early matches go, I think it’s advantage England thanks to the timing.

Discuss this post in the Bet Angel forum…

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My journey – Part two

My early foray into Gambling markets was on football pools. I learnt on the football pools that a lot of the money staked had no rationale behind it. People just used birthdays, lucky numbers etc. etc. The football pools was certainly a bit of a lottery, but it was a lottery that offered the chance for somebody using a bit of intelligence to place better positions in the market. With so much ‘dumb’ money around, I thought that in the long term I may be able to perform better than chance, which is exactly what happened. Due to the football pools limited appeal though, I started looking at gambling markets properly.

I started to examine how bookmakers made the markets, what drove those prices and where inefficiencies could exist. I knew nothing about horse racing so avoided those markets and focused on football instead. Borrowing a trick from the football pools I started doing some very complicated bets to cover off unlikely scenarios and maximise more certain ones. Despite being useless at maths when I was at school, my attempts on the football pools to predict matches that would end in a draw forced me to get my finger out and start working with probabilities and combinations. Basically I was optimising my entry by ordering bets in a certain manner and by using very efficient covering combinations.

I managed to bag some really nice wins, but it wasn’t long before I realised that with such huge over rounds the whole game was completely unfair unless you had some sort of special knowledge to over come the bookmakers margin. So I turned to the biggest casino of the lot, the stock market….

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My journey – Part one

To understand where I am today, you need to wind the clock back to my childhood and the spark that created everything.

Many moons ago I was born to a pretty average family. My father was a carpenter and my Mum worked in a petrol station. My family had pretty unspectacular lineage and most of my immediate relatives lived within a few miles radius. I didn’t get the best start in life (that’s another story) but I loved playing sport, but that was about all I really enjoyed. As a result I just bumbled through my early years at school.

One day I visited a friend, his Dad has just bought a Commodore Pet. My friend showed me how to get it to put my name up on the screen and from that simple start I started to dabble in home computers. I coaxed my Dad into buying a ZX81 and I started to mess around with it.

My Dad often handed me his football pools coupon, so the first thing I really tried was to write some simple basic to analyse football matches. The idea was to try and understand what created a draw. I looked at many different things, but by collecting and analysing football results I slowly realised what ‘created’ a draw. With that in mind I set about optimising my football pools entry to try and get some dividends. Slowly the dividends started to come in and eventually I bagged a first dividend on Littlewoods pools. All this activity on the football pools sparked my interest in Gambling markets and I started to research how they worked and if there was a way to profit from them.

Tomorrow, my journey from Gambling to financial markets.

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Ascot

It’s that time of year when the Queen nips out the house and down the road to have a fiver or two on a few nags. I’ll also be looking to put a few fivers on them as well, but from behind my desk. When I’ve finished all my work on betting exchanges, maybe I will nip up the road for once! Ascot has always been a key part of the summer racing and it’s no surprise with five days of wall to wall quality on display this week. I’m actually not that optimistic that I will do as well as in previous years. There are two reasons behind my change in sentiment.

First, volumes on key races on Betfair have been falling away a lot this year. I am always careful to note the volume and activity on the big races as they can make a good month a great one. So far this year, nearly all the big races have seen drops in traded volume. Second, the fill rate at these big meetings has been falling off as well. This makes it much harder to hit the heights I have in previous years. I’m not particulary despondant, it just means that I may not be able to get some of the bigger totals I have seen in previous years. Also, I am picking up more and more in the day to day racing which is more than compensating. Currently I am about a ‘month’ ahead of where I was this time last year at the moment. I’ll just have to keep trying to find new and better ways for my activity this week.

This year I will also be trading using Betdaq at Ascot. Where fill rate and sitting behind a massive order queue is a problem on Betfair, it doesn’t appear to be a problem on Betdaq. It sits in that busy but not too busy area. This has meant it has become quite a viable trading platform during the big meetings. During the day to day stuff the liquidity isn’t quite enough to work well or to use big stakes but I have noticed that it ‘feels’ just right during the big races. Worth a try in my opinion if you can’t get on with these markets on Betfair, which I know a lot of traders do struggle on. I put up a video on You Tube recently about trading on Betdaq, but this is more on the lower liquidity stuff. I will try both Betfair and Betdaq this Ascot, as I’ll need to work hard this week I feel.

Whatever you do this week, Good luck!

The Queen tries some tic tac

The Queen tries some tic tac

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Betfair signs deal with Samsung

Betfair’s wholly owned subsidiary Betfair TV has signed a pan-European commercial agreement with Korean electronics giant Samsung Electronics, under which the two companies will deploy sports betting and gaming applications on Samsung’s Connected TV platform which is powered by the Yahoo! Widget Engine.

Betfair TV has developed a real-time betting interface that will bring live Betfair betting applications directly to Samsung’s Connected TVs and Samsung Connected Blu-ray Disc Players. The application uses a direct link to the data that drives the main Betfair.com website. According to Betfair, over 35 per cent of all televisions sold by the end of 2010 in the UK are expected to be internet enabled.

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Blunt start by England

In fact, most of the matches have been pretty blunt, which seems to often be the case in the world cup early matches. England had a great chance to really get off to a good start after taking the lead so early, but I don’t feel there were aggressive enough going forward. England now need to convincingly win the next two games or they could end up on the wrong side of the draw.

No doubt the following image will sum up the match in the press tomorrow morning.

100612 - England - Green slip

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USA 1 – 0 England

Not a premonition but a recollection of times gone past. Until England drew the US in the group stages I wasn’t even aware of this episode of sporting history. It seems England have always been under-performers, but perhaps were a bit unlucky on this occasion. You would get 17′s for a repeat performance tonight.

http://en.wikipedia.org/wiki/England_v_United_States_%281950%29

Ratings for today: -

England vs US – Market is forecasting 2.50 goals with at least 1.70 to England, leaving a paltry 0.30 to the US.

South Korea vs Bankrupt Economy – Market is forecasting just 2 goals pretty evenly split. Should be an ‘interesting’ game.

Due to lack of data, i.e. neutral grounds etc. etc. It’s tough to give you a brilliant steer on similar matches in the past. I am much better at league football. There is more data and matches in league footbal, so that is where the bread and butter is. But, most matches similar to England’s have ended in comfortable wins for the stronger team. There is only one example from the, albeit small, data set that I have where the weaker team won and that was only by one goal.

I won’t be trading in-play on the England match as my emotions will probably get in the way, but I will on all other matches that I can.

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Bad light stops fish

A great Tennis trading match today and a classic bit of sportsman ship from Mardy Fish. Fish wins the first set 6-4, Murray storms back to win the next set 6-1. Fish goes three up in the final set, Murray rallies to tie the match at 3-3. With the momentum behind him, Murray feels he can finish Fish off. But Fish does the ‘professional’ thing and ends the match due to ‘bad light’. If Fish was under pressure in that last set, he just got a reprieve. Murray will have to find his momentum again tomorrow. Good practice for Wimbledon all round.

I think the press reported this poorly as it was clearly an attempt by Fish to fight another day. Murray was right.

Video here: -

http://news.bbc.co.uk/sport1/hi/tennis/8734199.stm

100610 - Tennis - Murray - Fish

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Happy 10th Birthday Betfair

Lets hope it doesnt go pop!

Let's hope it doesn't go pop!

It was ten years ago today that Betfair took their first bets. It is amazing to see what has happened in the intervening decade. I joined the fray about 9 days later, I’ll talk more about what happened from there in a few days time. I’ve sent Betfair some personal greetings, I’m interested to see if they reciprocate.

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Concern for missing commentator

Anybody who was trading the races at Hexham on Saturday couldn’t have missed that the Dougie Fraser was missing. Good old Matt Chapman had to fill in as best he could from the booth, but by the evening it was clear that something was wrong.

Full story in a lot of newspapers yesterday. I have linked to an article here.

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England lose on penalities

Not a prediction, this happened at the weekend. OK it’s only Soccer Aid, but losing in a penalty shoot out on the Sunday before World Cup week isn’t the best omen is it?

Still at least that’s out of the system, so it can’t happen in the world cup, can it? I can’t figure out why England players in any form can’t win a shoot out. Quite a few years ago I ‘qualified’ for a world cup tournament where I played for England  in a football tournament organised by my then employers Compaq. Off we flew to Munich and made our way to the semi finals where, you guessed it, we lost on a penalty shootout. Maybe it’s something  that just needs to be shaken out of our nations psyche somehow? I will never why England don’t draft in Matt Le Tissier, he was just awesome at penalty taking. See this article.

Brian Clough and Robbie Williams

"Brian Clough" and Robbie

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Soderling vs Nadal – The ninth game

What’s the significance of the ninth game?

In a competitive final you could expect both players to try and play out of their skin. But, you could also expect that both would try do avoid doing anything stupid in the first set. It’s important to get off to a good start, but it’s equally important not to blow it early on. So a game of cat and mouse, probing your opponent and holding serve, is a quite likely occurance in a big match.

If the match goes to 4-4 in the first set, then an opportunity will open up in the ninth game. At this point if you can break the serve of your opponent you then serve for the set. So stepping up your game, trying a few tight or tricky shots will pay expectional dividends in the ninth game. If the game is 30-30, you are only potentially two points away from being a set up. If your opponent sends the first serve out, then you can step inside the baseline and look to get only one point from your target. The ninth game is very significant given the right circumstances.

When Soderling and Nadal step out tomorrow if they reach the ninth game they will be priced at 1.30 and 4.30, pretty much the same as they started at. One set to Nadal would see him trade at 1.13, if it went to Soderling, Nadal would be 1.72. Look at yesterdays Womans final for evidence of what happens if that ninth game is broken.

While breaks of serve are important, some are more important that others. There are many similar points throughout a match. Put yourself in the players shoes and you will soon understand where they are.

Stosur vs Schiavoone - Break in the ninth

Stosur vs Schiavoone - Break in the ninth

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Early start

Had to drop my daughter off to a Girl guiding camp this morning. I looped around, rejoined the M25 and headed up to Epsom for a ‘quick’ meeting. Silly idea really, but I had been invited to the Derby but obviously I need to be on this side of the screen today. I felt an effort to say thanks and acknowledge the offer was due. Traffic was, inevitably, a mare despite getting there early this morning, it was not helped by an accident on the M25.

Managed to get back home in plenty of time and I’m looking forward to today after a good week. Judging by the weather and the crowds on the way and at Epsom I think it could be a good betting day. Here’s hoping!

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Oaks

If you would have asked me what the Oaks were ten years ago, I would have talked to you about what the Victorians planted en masse on the green in the next village on from where I live. Now, my first thought turns to Epsom. How things have changed in ten years.

It was the Oaks that was Betfair’s first market ten years ago, but it was on the 11th June that year, not the 4th. So Betfair are just a week away from celebrating their tenth birthday. Ten years ago I was probably worried about a different sort of fill rate. I was probably parked in some retailers head office talking to them about product selection and how quickly certain items were selling. I remember sitting in a Cafe in Chantilly debating with a colleague what we would be doing in ten years time. I told him that it almost certainly wouldn’t be what I was doing then. He is still doing the same thing, but as somebody who is ever restless, its no real surprise that I am not. What will I be doing in ten years time now? I’d probably be tempted to give the same answer as I did ten years ago.

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Nobody will win as much in 100 years!

If you search this blog you will see the previous post on the Barney Curley gamble. This was a clear cut opportunity, well telegraphed by the market and confirmed by activity and comment in a number of areas. I recorded a trade on a Curley runner for an article that will appear in a month or so, that’s how predictable some of these trades are.

Now we have a full explanation of the detail and planning behind this gamble thanks to the Independant newspaper. As the provocative titles suggests there was a lot going on this day to produce a huge payoff, but a bit of controversy as well. While it’s an interesting story, I’m not convinced it paints racing in the best of light.

Another Curley runner scheduled to run tonight at Sandown. As I write these posts in advance you will have to check if it is still running.

Read the full article by clicking here.

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May

I was cursing my comments on April at the start of May. I think I previously quoted that I had the wind behind me. At the start of May, I had a force 10 gale in my face! But by the end of the month things were a lot more comfortable and I put in an excellent performance. Some times the market can be like that.

Somebody was asking on the forum how it’s possible to make £1k a race? That turned into an interesting discussion but the fortunate timing of the thread also highlighted the fickle nature of the markets. As the discussion started, on one day I coasted through the markets and did get a £1k race, but the prior day was a huge battle, but still OK (See below). My point on the thread was that as long as you can get something from most races it soon all adds up. You have to take the rough with the smooth, but you should also remember that with 10,000 races a year and near on £7bn in matched bets, you don’t need impressive individual totals to build up a decent week, month or year. It’s a mistake to go for the impressive figures, especially when starting out.

Which sounds more impressive? I made £1k on the day or I only made £20 per race? In fact at this time of year both can be one and the same. With some days containing nearly 50 races, larger totals are not out of reach for many. Couple that with improving quality in June and there are plenty of opportunities around. June also brings the world cup and Wimbledon so it’s going to be a very, very busy month. I’m going to do some shameless plugging in the coming weeks as we have the perfect set of tools, like Soccer Mystic, to help you through what should be a bumper month. Good luck whatever you are doing and however you do it!

A headwind

A one day P&L - Little and often works well on horse racing

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