My last attempt ended some hours ago now and can be found in my blogs with the last post dated 23rd Jan 2016. It's early hours of the 24th now and this is just an introduction into what, where and how.
Ok, so it's going to be a starting bank of £50 and with proper Bankroll Management I shall try and build it up to my maximum of hopefully £25000.
Where, it's going to be mostly on Betfair, but maybe the odd bet away from there but within the same rules.
The how, is hopefully through correct selections and the ability to turn myself into the bookmaker by laying bets along with betting myself.
Betfair does offer a exchange feature to let me do the above but also has a standard betting platform and they offer good value promotions.
The rules...
Betfair exchange as a minimum bet of £2 and this is why I needed to start with £50 instead of just £10 like my previous attempt.
The first part of the challenge is try and make my initial stake upto £200. I am not allowed to bet more than £2 per selection until I break that £200 and no more than 2% thereafter until I hit the dizzy heights of £3000 then no more than 1% and just 0.5% from £10000 all the way to £25k.
I can only bet on a maximum of 3 singles per section for example, 3 correct scores in one match, 3 single selections of first goal scorer etc etc.
The idea is to make single selections and then grow the money during a match. With that I mean for example, I back £2 on a home team and they go on and score and take the lead. There odds of winning that game are a lot shorter, so I lay that bet off now hoping the away team equalise. If they do its then called a free bet and you can win a lot of money in high scoring games.
Ok, so it's going to be a starting bank of £50 and with proper Bankroll Management I shall try and build it up to my maximum of hopefully £25000.
Where, it's going to be mostly on Betfair, but maybe the odd bet away from there but within the same rules.
The how, is hopefully through correct selections and the ability to turn myself into the bookmaker by laying bets along with betting myself.
Betfair does offer a exchange feature to let me do the above but also has a standard betting platform and they offer good value promotions.
The rules...
Betfair exchange as a minimum bet of £2 and this is why I needed to start with £50 instead of just £10 like my previous attempt.
The first part of the challenge is try and make my initial stake upto £200. I am not allowed to bet more than £2 per selection until I break that £200 and no more than 2% thereafter until I hit the dizzy heights of £3000 then no more than 1% and just 0.5% from £10000 all the way to £25k.
I can only bet on a maximum of 3 singles per section for example, 3 correct scores in one match, 3 single selections of first goal scorer etc etc.
The idea is to make single selections and then grow the money during a match. With that I mean for example, I back £2 on a home team and they go on and score and take the lead. There odds of winning that game are a lot shorter, so I lay that bet off now hoping the away team equalise. If they do its then called a free bet and you can win a lot of money in high scoring games.
I can only place a lay bet with odds no greater than 2/1 (3.00). But if it grows from my original stake I can lay at what price I want to. An example of this would be, I back 2-2 correct score in the HT betting market for £2 @ 100/1 and in the 25th minute it is indeed 2-2. But I feel more goals will be scored upto the Half Time whistle. So I lay off my bet with the odds for 2-2 now 10/1. I do this because if either team score again before HT I win. So my £2 is now worth the potential of £202 and if I lay that off at odds of 10/1 I stand to win £20 once another goal is scored, but it's ok because my original bet was only £2.
Most of my bets will involve inplay markets which means I can not post every bet I make because there will be just too many. But I will take a screenshot of any winning trades I make so it can traced back if anyone 'did not believe me' if and when I complete this challenge.
I can make a maximum of 3 selections to form a treble in Betfairs standard betting platform (or other bookmakers) and this is because of promotions currently running which refunds your cash if one of your selections is incorrect in your treble bets. This is a bold move by Betfair and no other bookmakers offer this policy.
I can lay any selections (but not over 2/1) for the minimum £2 even though the maximum liability would be £6. This rule only applies to any BankRoll under the first barrier which is £200. Once that barrier is crossed my total liability will be what's stated in these rules.
Betfair operates by charging upto 5% commission on all markets, so any winnings I make will have those deductions already taken out so I will not have a true net bet, it will be normal return minus the commission. But again, a screenshot of my winning bet will show how much I won and how much commission I had to pay. The more money I payout the lower my commission % will be.
Most of my bets will involve inplay markets which means I can not post every bet I make because there will be just too many. But I will take a screenshot of any winning trades I make so it can traced back if anyone 'did not believe me' if and when I complete this challenge.
I can make a maximum of 3 selections to form a treble in Betfairs standard betting platform (or other bookmakers) and this is because of promotions currently running which refunds your cash if one of your selections is incorrect in your treble bets. This is a bold move by Betfair and no other bookmakers offer this policy.
I can lay any selections (but not over 2/1) for the minimum £2 even though the maximum liability would be £6. This rule only applies to any BankRoll under the first barrier which is £200. Once that barrier is crossed my total liability will be what's stated in these rules.
Betfair operates by charging upto 5% commission on all markets, so any winnings I make will have those deductions already taken out so I will not have a true net bet, it will be normal return minus the commission. But again, a screenshot of my winning bet will show how much I won and how much commission I had to pay. The more money I payout the lower my commission % will be.
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