Trading a lot, pennies make pounds

image: Look after the pennies and the pounds look after themselves

Look after the Pennies and the Pounds look after themselves!

It’s been a while since I last updated, I’ve hit a bit of an impasse.. no I haven’t ran out of bookies – I just don’t have photo ID, I am an old fart who still has old style paper docs and who is unwilling to pay for new ones so I’m just working or playing away with the offers that come my way from existing bookies. Bookmakers are really quite strict on the ID thing and with many of them you have to send photo ID, utility bill etc. I can understand this because there is a high incidence of Money laundering via “low risk” gambling and they, like financial institutions, have to report to a higher level. You may think this would not be applicable to bettors not turning over a very large amount but remember most large Betting Coups are pulled off by syndicates. Bookmakers know this and watch for betting patterns rather than amounts – one of the most recent Coups resulted in a bit of Scandal whereby Betfred refused to payout intially, but after it was proved there was no cheating they had to pay out in the end. Good Job that coup didn’t win with all 4 horses else the payout would have been £20M instead of ‘just’ £4M.

At the minute I have 7 Bookmakers, which is really a tiny number but as you can see from the profit figure on the right (£776) this averages to £110 per bookie as at today .. now that, considering some of them only had an intial offer of £10 is nae too bad!

Now I have nothing really chunky to work towards with any particular bookie so I’ve decided to chase a small target, a free £25 Bonus – but it will require lots of trades, I reckon the average will be that I have to turnover £1.5K which with my float will mean lots and lots of small trades and trying to keep the float balanced enough to have money where it needs to be, bookie and exchange, should be fun!

But there’s a gotcha, I don’t know If I’ll reach this target so I’m setting myself another goal and that is to not make a loss on the qualifying trades. It would normally be expected to make a few pennies loss on each qualifying trade, but worth it because the prize is greater than the loss, however in this case because I’m not sure I can turnover enough to reach the target I’m gonna practice my arbing skills. I have just under 3 weeks to do this and will need a couple busy weekends where after events finish there’s something else to bet on, the World Cup Qualifiers are coming up and should provide some side offers as well as an opportunity to place many staggered trades.

It’s going to be boring but will give further opportunity to find and place many small trades, which will help with the basic speed skills I’m also trying to get better at, I want to get to a point where I know where to look, know when something is worth it, place the trades and be done with it within minutes.

Let’s see if I can get those pennies to turn into pounds!