My first costly mistake.

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thechosen
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thechosen

My first costly mistake.
« on: October 09, 2011, 07:10:57 PM »

Now I am a newbie and I tasted my first proper loss and it hurt. It was an odd or even score result in an NHL game but one side of my arb the odd one did not count as the score was even during regular play and the other side counted the game as an odd result.

 I lost my £200, at least this came out of my £300 profits I have collected from scalping. I know I should walk before I can run but I got impatient and greedy. This caused me to think about jacking it all it but i will persavere using much lower stakes.

 My question is apart from the obvious tennis rules and baseball is ther any others I should look out for before I learn the hard way. I suppose a few people have learned these lessons the harsh way to, but carried on regardless and very glad that they did.

great forum btw.

Stuart
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HiIamhere
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HiIamhere

Re: My first costly mistake.
« Reply #1 on: October 09, 2011, 07:42:00 PM »

Well, betfair voids all the markets in a football game if something happens and it gets canceled during play while some bookies will settle the markets if a minimum number of minutes have been played (usually around 80-85). That's not something you can use though since not arbing between bf and bookies for this reason is too far-fetched imo.
I once got lucky and won +300 because of this  ;D and then I learned it.
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dimos8enis
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dimos8enis

Re: My first costly mistake.
« Reply #2 on: October 09, 2011, 10:00:20 PM »

that's why you must split your stake
maybe the best way is not to bet more than 20% of your stake in one arb

if your bet is voided then your 20% loss will be recovered in one or two months
but if you bet 100% and your bet is voided you quit gambling  ;D
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thechosen
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Re: My first costly mistake.
« Reply #3 on: October 10, 2011, 08:55:10 AM »

Thanks for the input guys. My current bank at the moment is £2100 after the loss. I am using sports arbitrage arb alarm free trials at the mOment but don't see much info about them on here what are other people's opinion on them. I have a good collection of bookies on the filter and scanning all sports 40 bookmakers btw. The arbs seem to come in big waves one time then nearly nothing apart from a couple decent ones yesterday but I guese this normal right. Or would a newbie be better with other software. I hope to really get into arbing when I have a £4000 bank built up and that is when I will subscribe to a service.
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Arbusers
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Arbusers

Re: My first costly mistake.
« Reply #4 on: October 10, 2011, 10:23:13 AM »

Hi Stuart and welcome to the forum. Until you feel stronger on your feet, you should restrict your self by betting only on European football. I know that these American markets could lure almost anyone but maybe you should leave them for a later stage. It is not a something scientific, you will be able to exploit American markets within 1-2 months. Now as far as it concerns alert services, you should stay with the good 4 as described in our alert services section and especially our reviews for 2011-12. Don't forget to take advantage of all free trials. Also, I suggest you add some more capital in this business. Good luck.
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thechosen
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Re: My first costly mistake.
« Reply #5 on: October 10, 2011, 04:18:55 PM »

Thank you guys. I do not have funds with all the bookies at the moment just a select few, I just wanted to see how often the arbs would come and practice, trying to get the bet down effectivley.

 I am going to devote alot more of my time to scalping as I have about 3 or 4 people who will possibly let me use their ID and i will give them a bit of the profit, I also have a motorbike I am going to sell to increase my capital, to a reasonable level. At the moment I am scalping bonuses by backing and laying at bet fair as I find this the easiest and less time consuming. espeacially with tennis. I will check out the alert services in depth.

Thanks

Stuart
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helias
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helias

Re: My first costly mistake.
« Reply #6 on: October 11, 2011, 03:10:06 AM »

Thank you guys. I do not have funds with all the bookies at the moment just a select few, I just wanted to see how often the arbs would come and practice, trying to get the bet down effectivley.

 I am going to devote alot more of my time to scalping as I have about 3 or 4 people who will possibly let me use their ID and i will give them a bit of the profit, I also have a motorbike I am going to sell to increase my capital, to a reasonable level. At the moment I am scalping bonuses by backing and laying at bet fair as I find this the easiest and less time consuming. espeacially with tennis. I will check out the alert services in depth.

Thanks

Stuart

be careful with tennis and offer ur friends just a flat fee fors each id
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ajeto
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Re: My first costly mistake.
« Reply #7 on: October 14, 2011, 10:37:55 PM »

With 2500 is better to place 1500 to bf,sbo,pin and go one by one on a square bookies and arb out/burn/hammer/scalp bonus one by one. But everyone here has his own way.
« Last Edit: October 14, 2011, 10:40:06 PM by ajeto » Logged
liztner
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liztner

Re: My first costly mistake.
« Reply #8 on: October 15, 2011, 11:58:44 AM »

@ajeto

Thanks  :)
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