Hi Bloggers – Full Time Betting Income – Day 1
Today is 1st June and the first day for the review of this new system. As explained in the Introduction, we are starting with a £200 betting bank and staking 3.5% on each lay bet. The manual says that you should always take 3.5% of the highest point that the betting bank has reached. In practice, the author places his bets using a bot, so the stake will be calculated at the end of each day to determine how much to bet the next day. This means that you may get slightly different results to me if you are revising your stake after every bet.
The author also uses the ‘live’ price that he gets a minute or two before the off for each race, rather than the Betfair Starting Price (BSP). He does record the actual BSP for comparison purposes. I will not be showing the BSP for every selection, but will give the results using BSP overall at the end of each day of betting. Hope that all makes sense, but today’s results should explain it all!
Well, on with the business of laying! Today we had six qualifying selections – not a bad start to the system!
Time Meeting Selection Stake Live Odds P/L Bank
14.20 Cartmel Beau Fighter 7.00 1.91 6.65 206.65
15.10 Nottingham Bear Behind 7.00 1.82 -5.74 200.91
15.45 Nottingham Keplers Law 7.00 1.66 -4.62 196.29
16.40 Fontwell Piment D’Estruval 7.00 1.52 6.65 202.94
17.45 Fontwell Tony Dinozzo 7.00 1.62 -4.34 198.60
18.20 Kempton Excavator 7.00 1.59 6.65 205.25
Just to explain the key above, the starting stake is £7.00 (3.5% of our starting bank of £200). I have highlighted the ones that won in red font to make it easier to distinguish. The P/L column shows the profit or loss on each lay bet (a minus sign indicates a loss). You will see from the results above that our bank closed at £205.25 so our stake for each bet tomorrow will be 3.5% of £205.25 which equals £7.18 (rounded to the nearest penny!). The bank’s highest point was actually £206.65 but, as stated above, we will use the closing balance at the end of each day.
As you can see, at the end of the first day, our bank now stands at £205.25 giving us a profit for the day of £5.25 – the equivalent bets using the Betfair SP would have seen a closing bank of £192.65 – showing that we would have actually made a loss for the day!
But how do we express this in terms of level stakes points? I am not sure at the moment, so will have to think how it can be done – difficult, as the stakes are changing every day!
[Click here to see Full Time Betting Income…..]
Kind regards
Sgt Tony
