Making money betting

09-03-2009 6:39pm #1

I am heading to america for the summer and to makle a bit of extra money im thinking about betting crazy amounts of money on sure bets eg
betting 1000 euros on a team that is brillent playing against a **** team the odds would be pretty bad but at least id win.
Is this a stupid idea or sould i try it at least once?
I know there is no such thing as a sure bet but there can only be two outcomes

ninebeanrows · 09-03-2009 6:40pm

Absolutely stupid stupid idea.

Fast way to the poor house!

orestes · 09-03-2009 6:41pm

Have you ever heard of the concept of Gamblers Ruin?

Biggins · 09-03-2009 6:41pm

O' dear gawd! :rolleyes:

Mr. Frost · 09-03-2009 6:44pm

Depends who the teams are. You're return for risking a grand would be pitiful. Bet smaller, MUCH SMALLER, do your research and choose wisely.

javaboy · 09-03-2009 6:46pm

Chances are you'll get lucky a few times but you're winning so little that the one time you do lose, it will cost you more than you've won so far.

Simply put, if this worked, the bookies wouldn't be in business.

Mr Benevolent · 09-03-2009 6:47pm

I tried that. Didn't work. Only got out of debt last month, 3 years after the event (only did it for a month).

Not recommended.

jester77 · 09-03-2009 6:48pm

Great idea, bet me €1000 that I will give you your money back. I'll give you 5-1 odds...

mike65 · 09-03-2009 6:49pm

We have a gambling forum where this sort of thinking can be tested!

It can't be done.

Mr Benevolent · 09-03-2009 6:51pm

mike65 wrote: »

We have a gambling forum where this sort of thinking can be tested!

It can't be done.

Problem is that whenever potential gamblers hear that they get the urge to prove the world wrong.

Biggins · 09-03-2009 6:54pm

mike65 wrote: »

We have a gambling forum where this sort of thinking can be tested!

It can't be done.

Wanna bet? :pac:

Morzadec · 09-03-2009 6:56pm

In the long term you will certainly lose, as not all 'sure things' come through.

Nothing to suggest you cant win a bit in the short term, like doubling your money on 2 or 3 big odds on bets. But are you prepared to risk the money you already have?

09-03-2009 7:05pm

I only mean a few times not a lot 3/4 times max
and only on the bets that are most likely to win
I was going to do it for the man united match the other day but i wasnt sure about it
they ended up wining 4 - 0
If i was sure that they would win then i would bet if i was only slightly sure then i wouldnt bet at all.

super_furry · 09-03-2009 7:08pm

There is no possible way that could go wrong, and sure, with Cheltenham starting tomorrow, it's the perfect time!

mike65 · 09-03-2009 7:08pm

Falkirk 1 - 7 Celtic
St Mirren 1 - 0 Celtic

Captain Darling · 09-03-2009 7:18pm

Its a crazy idea. I knew a guy who thought he had some system to beat the bookies. He squandered all his cash and had to get his parents to bail him out. Absolutely ludicrious. The bookies will always win.

Save your cash, get a job at the weekend and spend feck all. Thats the only way to get cash. If it was that easy to back favourites the whole time, everybody would be doing it.

Alternatively, put the whole lot on trap 2 on a random grey hound race. Same difference IMO.

Bottle_of_Smoke · 09-03-2009 7:24pm

Morzadec wrote: »

Nothing to suggest you cant win a bit in the short term, like doubling your money on 2 or 3 big odds on bets. But are you prepared to risk the money you already have?

I doubt that very much. For a sure bet the bookies will give you less than 1% return

Bonbon12 · 09-03-2009 7:27pm

I've an excellent system i've been putting to use the last few months. Betting on football results I don't want to happen. Bad results for liverpool and good ones for united. Made a nice few quid. yay...

mike65 · 09-03-2009 7:31pm

Well it would be true that if you had bet Liverpool/Draw this season you'd have been able to roll up a decent amount after Spurs away (early November) but then you'd have lost the lot on the Boro game.

IvyTheTerrible · 09-03-2009 7:34pm

The house ALWAYS wins.

You'll just end up getting your credit record destroyed.

Morrisseeee · 09-03-2009 7:38pm

Put your house on 'Master Minded' who's running in Cheltenham on Wednesday, he's 1/3 , EASY MONEY

:cool:

/well thats if he jumps every fence ! (and wins obviously)

Frank3142 · 09-03-2009 7:40pm

it worked for me before i made a load of money(at the time i was 12 so it was a lot to me) during the world cup in 2006. i just bet on sure bets and nearly every time it came off except one but there will be more wins than losses

betting on racing is incredibly hard i usually only get a few winners off pure knowledge of racing but a **** load of long shots from just picking at random.

ShooterSF · 09-03-2009 8:02pm

Id suggest researching "matched betting" if you want a sure thing to make money off bookies.

AnonoBoy · 09-03-2009 8:16pm

Don't listen to them OP.

It's a surefire way to make cash. You will never lose money. And that's why we're all doing it!

dsmythy · 09-03-2009 8:24pm

IvyTheTerrible wrote: »

The house 98% OF THE TIME wins.

You'll just end up getting your credit record destroyed.

Fixed that one for you, presuming you're talking about bookies being the house.

Anyways OP, you should have this thread in the gambling forum and no, betting money on "sure things" won't win you money in the long run. Betting money on things you think are the wrong odds is the only way to win if you ask me. Even then you more likely than not won't.

IvyTheTerrible · 09-03-2009 9:46pm

dsmythy wrote: »

Fixed that one for you, presuming you're talking about bookies being the house.

Anyways OP, you should have this thread in the gambling forum and no, betting money on "sure things" won't win you money in the long run. Betting money on things you think are the wrong odds is the only way to win if you ask me. Even then you more likely than not won't.

That's still very very highly significantly in their favour...how come bookies seem to be the only business opening new shops in the recession?

MIN2511 · 09-03-2009 9:56pm

You win some and you lose some, i have won some and lost some

What are you betting on? Checking out http://www.racingpost.com/tipping/home.sd

Jet Black · 09-03-2009 10:13pm

There's only one system.. Bet, Lose, Borrow, Steal, Lose, Take The Drugs, Lose, Prison, Death

T-K-O · 09-03-2009 10:19pm

The bookies is a cess pool fool of idiots.... Thanks you please

NewApproach · 09-03-2009 10:20pm

25 wrote: »

I know there is no such thing as a sure bet but there can only be two outcomes

Emm, I think there's 3 unless Im very mistaken...

09-03-2009 10:54pm

You would be better off opening a betfair account and laying bets rather than backing "sure things" OP espically if you are willing to put a fair bit of money into the account therefore you can lay bets with longer odds. Actually OP I could write all day about ways you could use betfair but if you dont know whats what you could end up losing a lot of money.

johnp · 09-03-2009 10:59pm

25 wrote: »

I am heading to america for the summer and to makle a bit of extra money im thinking about betting crazy amounts of money on sure bets eg
betting 1000 euros on a team that is brillent playing against a **** team the odds would be pretty bad but at least id win.
Is this a stupid idea or sould i try it at least once?
I know there is no such thing as a sure bet but there can only be two outcomes

First rule of betting: only bet what you can afford to lose.

If secure enough to lose 1k, gamble away.

Mr Benevolent · 09-03-2009 11:02pm

Actually OP I could write all day about ways you could use betfair but if you dont know whats what you could end up losing a lot of money.

Ah yes, it's one way of becoming a bookie. It's quite interesting but you really, really need to know what you're doing.

09-03-2009 11:07pm

mike65 wrote: »

Falkirk 1 - 7 Celtic
St Mirren 1 - 0 Celtic

It was actually Celtic 7 -0 St.Mirren
St.Mirren 1 - 0 Celtic

Which makes it even more fcuked up !:eek:

To the OP........ ''facepalm''

GiftofGab · 09-03-2009 11:11pm

Two sugesstions for someone who has €1000 and wants to gamble. Both of them require a bit of reading thou and may take some time.

Best, quickest and easiest way to earn money can be through poker. Pick up a few poker books, spend a good few solid hours reading through them and set up a poker account on the internet. Start of playing with false money and then when you get comfortable move into real money. I wont take long to learn and the books will be extremly helpful. If you want you can also play in a real casino. Go in late on a friday or saturday night and you'll get a load of drunken idiots gambling all their hard earned cash.
Stokes and shares can also be useful. This requires alot more reading but is more benefical in the long term. You can do short term (1-3 days) trading of stockes and shares. Even thou they are going down you can still make money on them, read em books and you'll find out how.

Betting on sure bets is a bad idea. There's easier ways to make a quick euro.

mike65 · 09-03-2009 11:16pm

rarnes1 wrote: »

It was actually Celtic 7 -0 St.Mirren
St.Mirren 1 - 0 Celtic

Which makes it even more fcuked up !:eek:

Ah well you get the idea, there are no sure things, except mug punters (I have been one more than once, roll on tomorrow!)

Capt'n Midnight · 09-03-2009 11:17pm

dsmythy wrote:

Betting money on things you think are the wrong odds is the only way to win if you ask me. Even then you more likely than not won't.

In the old days it was possible to bet on things like anyone getting a hole in one in something like the Irish Open (happens more often than you might think). But bookies have cottoned on to such things and give odds based on statistics rather than instinct.

Betting is like the stock market, unless you know a hell of a lot more most people or have inside information you aren't going to do better than average. And on average gamblers loose. Even if you have inside information , the horse could still fall or have an off day.

Bottom line, you can only make money if lots of other gamblers loose it. Take into account the house take and tax and you have to be a lot better than average just to break even.

zuutroy · 09-03-2009 11:20pm

Capt'n Midnight wrote: »

Betting is like the stock market, unless you know a hell of a lot more most people or have inside information you aren't going to do better than average. And on average gamblers loose. Even if you have inside information , the horse could still fall or have an off day.

Bottom line, you can only make money if lots of other gamblers loose it. Take into account the house take and tax and you have to be a lot better than average just to break even.

This. Gambling is definitely not a quick route to money. The only way you stand to profit is have you have a hugely indepth knowledge of the market you're gambling on and even then, variance can kill you in the short term if you're not managing your money properly.

ejmaztec · 09-03-2009 11:47pm

25 wrote: »

I am heading to america for the summer and to makle a bit of extra money im thinking about betting crazy amounts of money on sure bets eg
betting 1000 euros on a team that is brillent playing against a **** team the odds would be pretty bad but at least id win.
Is this a stupid idea or sould i try it at least once?
I know there is no such thing as a sure bet but there can only be two outcomes

Is that you Biffo? It didn't work during the last ten years and it's not going to work now. Have you tried selling a kidney - or two?

eirebhoy · 10-03-2009 12:49am

Arbitrage betting is a risk free way of guaranteeing a profit unless a bookies decides to reverse your bet which they can do.

It works as follows...

Paddy Power offer 5/2 on Roma qualfying for the QF's of the Champions league.
Totesport offer 4/9 on Arsenal qualifying.
It has to be one or the other.

You put €285.70 on Roma with PP and €694.40 on Arsenal with TS. You're spending €980 and are guaranteed €1k back. (although it's best to round these figures down to the nearest 10 and do the maths accordingly).

So basically it's a free €20 if you have the money to spare. That's 2% return. You'll get the odd 10% sure bet too but you'll need to do a bit of research and find the best sites if you're thinking of going into it.

You're probably better of getting into something like dropshipping and selling through Ebay. There's a few ways of making a safe few quid if you have enough to get you started. With anything though, alway start at the bottom and don't worry about making just 1 or 2 euro profit's until you get the grips with it.

NewApproach · 11-03-2009 11:55pm

eirebhoy wrote: »

Arbitrage betting is a risk free way of guaranteeing a profit unless a bookies decides to reverse your bet which they can do.

It works as follows...

Paddy Power offer 5/2 on Roma qualfying for the QF's of the Champions league.
Totesport offer 4/9 on Arsenal qualifying.
It has to be one or the other.

You put €285.70 on Roma with PP and €694.40 on Arsenal with TS. You're spending €980 and are guaranteed €1k back. (although it's best to round these figures down to the nearest 10 and do the maths accordingly).

So basically it's a free €20 if you have the money to spare. That's 2% return. You'll get the odd 10% sure bet too but you'll need to do a bit of research and find the best sites if you're thinking of going into it.

You're probably better of getting into something like dropshipping and selling through Ebay. There's a few ways of making a safe few quid if you have enough to get you started. With anything though, alway start at the bottom and don't worry about making just 1 or 2 euro profit's until you get the grips with it.

Seems great, but what if after backing Arsenal with totesport, Powers cut their price, or more likely cut you back on the bet. All of a sudden you have a €695 liability...

Degag · 12-03-2009 4:08am

NewApproach wrote: »

Seems great, but what if after backing Arsenal with totesport, Powers cut their price, or more likely cut you back on the bet. All of a sudden you have a €695 liability...

Do the bet simultanously online?

OP, back phil taylor against wayne mardle tomorrow night in the darts. won't be beat.;)

dsmythy · 12-03-2009 6:51pm

IvyTheTerrible wrote: »

That's still very very highly significantly in their favour...how come bookies seem to be the only business opening new shops in the recession?

Because 98% of people who go there regularly lose basically.

CantGetNoSleep · 12-03-2009 7:45pm

In a Celtic v Rangers game last year I was about to put €1500 on Rangers to win the league in injury time, took me a while to find a bookie who would even take the bet as Rangers were looking like dead certs for the title. Anyway Celtic scored just as I was about to transfer the money, so I said maybe not, thank fcuk as Celtic went on to win the league

Can't remember what the exact scenario was but at the time it was looking like a bet I couldnt possibly loose, but would only have made a profit of €300 or so

suspectpackage · 12-03-2009 8:45pm

gambling is gambling, especially on horses and football.

there are so many factors outside of your control
- did the horse sleep well last night?
- is it feeling "up" to running (its his choice after all and he might not be in the mood today)
- will the jocked mess it up? (this happens regularly)
etc.

consultech · 12-03-2009 10:10pm

A guy I know had a similar genius scheme 4 or 5 years ago prior to Celtic's match against Aberdeen in 2004 at the height of their 3 year 77 match unbeaten run.

He was 26 at the time and had been saving for a house for 7 or 8 years. He had successfully done it twice in the weeks previous. So he popped his €50k on Celtic at 1/12 draw no bet (draw=money back) in a few different bookies. You know the rest.

He spent 4 weeks in hospital after trying to hang himself with a Celtic flag fashioned into a rope. Chilling tale, a warning no doubt.

consultech · 12-03-2009 10:16pm

GiftofGab wrote: »

Best, quickest and easiest way to earn money can be through poker. Pick up a few poker books, spend a good few solid hours reading through them and set up a poker account on the internet. Start of playing with false money and then when you get comfortable move into real money.

This is not true. You're talking more like hundreds/thousands of hours invested before you can start showing a consistent profit playing poker. I'm a diligent student of the game, have read more than "a few books", and am only grinding out a meagre profit at .50c/$1. I have a long way to go in a far more demanding market than the lucrative drunken yankee-fest of yore.

Berti Vogts · 12-03-2009 11:50pm

25 wrote: »

I am heading to america for the summer and to makle a bit of extra money im thinking about betting crazy amounts of money on sure bets eg
betting 1000 euros on a team that is brillent playing against a **** team the odds would be pretty bad but at least id win.
Is this a stupid idea or sould i try it at least once?
I know there is no such thing as a sure bet but there can only be two outcomes

You have heard of the draw?

12-03-2009 11:52pm

Possibilities wrote: »

You have heard of the draw?

not if its draw no bet

banshee_bones · 13-03-2009 12:05am

i wouldnt suggest it! just sounds like a slippery slope...

md23040 · 13-03-2009 12:10am

25 wrote: »

betting 1000 euros on a team that is brillent playing against a **** team the odds would be pretty bad but at least id win. Is this a stupid idea or sould i try it at least once? I know there is no such thing as a sure bet but there can only be two outcomes

Oh holy holy God. I couldn't be bothered reading four pages of advise for someone who thinks surebet team games can only have two outcomes. A rocky start to dreams of victories. There are always three outcomes minimum - Win, Lose or Draw.

If you want to make money then use professional arbritrage. Placing bets with different online companies throughout the globe on the win lose and draw and exploiting the odds to make a return regardless of the outcome. You need a three screen execution platform to place all beats at the same time. It is possibly to make returns of 20%+ per beats but something tells me based on the OP failure to grasp the basics seem to me like this would be a non runner.

Finally larger wagers are flagged by bookies wth maximum bets of £2000 online. If you had a 20% surebet then everyone would borrow millions to exploit the arbritage.

If anyones interested about three or four decent cross my screen daily that exploit the weakness of bookies. However odds change very fast and bookies have programs to spot arbritage.

Making money betting

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