|
By:
lay kansas @ 2.36
small tip for u then |
|
By:
Lost about £4k in eight years.
Can win big on here...but working hard in a skilled job is guaranteed money. |
|
By:
trader2010 20 May 10 22:12
Jrcruz, I have been considering starting again and concentrating on markets other than horse racing and your results certainly illustrate how well one can do by taking this approach. I have a number of questions regarding your approach to these markets, perhaps you might find the time to drop me a line at exchangetrader@gmail.com to discuss further. To all other posters, many thanks for your responses they are very much appreciated. Cheers, RB From this I presume you mainly concentrated on horse racing? Have you taken the time to really sit down and analyse where you were going wrong? I feel that the 'this hasn't worked, I'm going to try this' approach to gambling/trading is often the wrong path. It may be better for you to try the 'this hasn't worked, why hasn't it worked?' path. |
|
By:
From an article about Alan Woods...a very successful gambler. I picked it out because of the stories of Wally Sommons and Bob Moore. Personally at 24 and 6 years of losing, I'd go for the hopefully good job and happy family path.
A founding partner in the Hong Kong venture was Bill Benter, the originator of computerised betting systems, who had devised a program at home that calculated a roulette ball's speed as it spins around and predicted which quadrant of the wheel the ball would fall in. Alan provided 60% of an initial US$150,000 bankroll and was in charge of selections through a 'favourites system', where the team bet on the horse judged most likely to win. They soon discovered they would win more if they bet only on overlays. Bill had a 30% stake and came up with the idea of building a computerised probability model. A third player, Wally Sommons, was in for 10% and did much of the early work compiling a database of past results. For the first two years the team struggled, wiping out their $150,000 bankroll. Alan injected another $40,000 and they wiped that out too. Then another $20,000. It was enough for Wally to lose his nerve but Bill and Alan, who had by now evaporated more than half his total net worth, persevered. The computer model started winning in 1987 - US$100,000 for the season - the same year that the Alan-and-Bill alliance broke up. Among various differences, Bill wanted a greater say in determining the size of each bet while Alan wanted to keep his own firm hand on the bankroll. It was a bitter split. Almost immediately, Bill set about making his own computer model, one that Alan concedes would later become a more sophisticated and successful version of his own. 'He came back to Hong Kong for the ostensible reason of discussing our partnership … But his real reason was to hijack all my data, because otherwise he was going to be missing a year or two's worth of data, and to program a self-destruct thing into my software.' I almost fall off my chair. It sounds like something out of a Mission Impossible movie, but Alan recounts it all with a certain casualness. 'Bill wasn't a really malicious person. He did warn me about this, and gave me time to fix the problem.' Alan's software did anything but self-destruct. In 1987-88 he won HK$3 million. The next season $7 million. Then 11. Then 19. One of the things that kept him motivated was his rivalry with his two peers - Bill Benter and a mysterious Australian called 'J'. In 1990 Bob Moore, the loudmouth New Zealander, betrayed Alan to go work for Bill. At the time, Alan and Bob had been sharing an apartment together. Later, to return the favour, Bob betrayed Bill, approaching Alan and offering to sell him back-data that Bill had paid Bob to supply. 'We're sitting in a Sydney restaurant, and I'm sure I tell him at least twice, Bob, it's not yours to sell.' Nevertheless, Bob does sell, and Alan buys. 'Years later,' says Alan, 'by which time he's threatening to kill me, I referred back to this episode - Bob's betrayal of Bill - and Bob shouts at me: ‘If you were a true friend, you wouldn't have allowed me to do it.'' Alan laughs and shakes his head at the strangeness of it. Bob killed himself in 1997, depressed and isolated, on a night when Alan was hosting one of his famous parties. |
|
By:
clydebank - you got a link for that article? would like to read the whole thing.
|
|
By:
http://www.pokerplayer.co.uk/sports-betting/horse-racing/137/the-life-hong-kong-betting-syndicates.html
it may not be exactly the same article but it's about the syndicate |
|
By:
Although i've been around since 2002 i'm nowhere near a betfarian , only play a minimal amount of my total volume on here and primarily only use for research and hedging bets , nothing personal against exchanges but the bets I make a living off are not mathematically available on here and fellow punters should always check the alternatives available and not place bets just because it's were your bank exists , after the Asian markets it's the ultimate market guide but that's were the inflexibility ends.
Good luck all. |
|
By:
cheers buzzer.
|
|
By:
Once again, many thanks for all the advice. I have been thinking about exploring the world of trading, however I am aware of the high standard of competition in the markets today. It is a pretty daunting proposition to consider having a go at something which doubtlessly requires a huge amount of skill and knowledge of market dynamics to be successful.
I have a question for traders, do you trade on markets that you have identified to consistently produce predictable odds movement or do you use your judgement of how a particular event will develop (e.g. you think there will be an early goal in a football match so you lay under 1.5 goals) and trade on that basis. Cheers, RB |
|
By:
Are actually using any of your maths skills in your punting, ie modeling and analysing etc, or are you mainly just "punting"?
I can quite easily see how you or anyone else can lose that amount of money, best of luck for the future. |
|
By:
This old thread was a great read. I'd really love to know how trader2010 has ended up spending his days.
|