What’s the first thing you think of when you hear the word betting? Addiction? Loser? House always wins?
While that’s true for 99% of bettors, it is also true that there are plenty of people who are profitable and make anything from a small second income to a full-time profession as bettors. There are many gambling millionaires and, once you understand the key principles, it’s not all that difficult to see how.
My first real exposure to betting was at university, where I had a part time job working in the local branch of William Hill bookmakers in Edinburgh. Wow, did I experience the 99%! Some examples:
- The old age pensioner who would start the month with a fresh pension cheque, betting £40-£60 per horse race. By the end of the month, he was doing the same thing, but could only afford to stake 20p per horse and had to scrounge off his friends to buy him a cup of instant tea.
- Punters who would stand at electronic casino machines, feeding in £20 after £20 after £20. I can only recall one day of emptying those machines and them having less money than the float they began the day with.
- Even the ‘high rollers’ whose betting activity we used to keep tabs on – very few of them made any meaningful profits.
That experience made me swear never to get involved in sports gambling myself.
I was true to my word. That is, until a close friend dropped the bombshell that he has made several thousand pounds from betting over a 12 month period. Always one to try and maintain an open mind, I decided to check it out for myself.
What I learned was that it is indeed possible to turn betting into a profitable past-time or a serious career. But it is not easy. I began around October 2015 with £100 in seed money. I did succeed in growing this into £1,500, but it took me about a year to do it and there were some major issues that meant I could not consider what I was doing to be a long term solution:
- Draw-down. Some months I would be up. Others I would be down huge. Psychologically, this made it a stressful experience. It also caused me to break the few rules which I had set for myself. Notably, if tipsters I was following went through a bad run, I would find myself wanting to stem losses by reducing stakes…accordingly, this is the exact point that they would put a few winners together.
- Limited bookmaker accounts. In order to find profits, I was following some very successful tipsters in private Facebook Groups. However, these groups tended to be relatively large and were betting in obscure markets. This meant that they were easy for bookmakers to spot and, increasingly, bettors’ accounts were being limited very quickly indeed – often after only a two or three bets. Once limited, you can often only get a few pounds on the same markets. Game over.
- Stake size. This is linked to (2) in that the general guidance was a minimum of 5% of my bank roll on ‘quality’ tips. This meant that it would not take long until my standard stake size started to become large and I would start to hit limits and not be able to get full stakes on in line with my staking plan. From experience betting through bookmaker accounts which had already been limited, I knew that this was a major issue – Sod’s Law is that you get less on the winners than you do on the losers, destroying your return on investment.
- Time. It was taking too bloomin’ long! I wanted to be generating a large and reliable income before I was dead!
Finally, the point came where I got fed up of treading water. Fed up of mediocre returns. Fed up of the effort I was putting in for no conceivable gain. So, during the Summer 2016, I sat down and modeled the best system I could conceive which would address the above four issues as fully as possible…the MoreScores Bank Builder strategy was born. I started using this strategy myself from the start of September 2016. All the results since then are recorded and shared on this site and you can view the progress for yourself.
Thanks for looking around. I would love to hear your comments, questions and feedback.