day 1 - I have just read in the news of the world about a former city trader who had won £22 million on Betfair betting on loser rather than winners.
Every gambler, wants to win so I duly signed up to Betfair, having not had a bet for a few years, or maybe the odd online, bet on bet365.com
I am sure it is possible to win £22 million, and being an optimist , I want to win, £22 million would be nice but i don't want to be greedy.
I signed up to see how easy it was as i must admit I didn't really understand his method - he bet on the favourite to loose and then an outsider to loose to lay off the bet. Sounded a bit hit and miss to me.
I placed£150 into the account and after the first day I was £100 down. Not a great start , but i must admit I didn't fully understand lay off bets , but in a nutshell you become the bookie and if the horse wins then you are liable for the odds that you took.
I lost 4 times, which is not as bad as it seems, as I bet twice on the same horse which won and took some short odds on a couple. So it was really my own fault.
But it is amazing how quickly you learn when you it is actaul money at stake, but i did win about 20 times during my fist attempt. The main problem here was I was only betting £2 at a time, so it was not going to make £22 million.
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