Tips, techniques & secret methods for making money from betting
The £156 To £40,000 12-Month Betting Challenge
Some of you will remember that several years ago I had a betting challenge where I regularly reported on my results from betting on my horse-racing (or it might have been greyhounds) tips. Every month, I produced a video showing my Betfair account balance & the list of bets that I had placed during the month. There was even an Excel spreadsheet showing my daily profit & loss figures.
In the end, I got bored of doing the bets & producing the videos!
Well, as one of my 2018 New Year Resolutions, I’ve decided to have another go at showing how a small betting bank can be grown to a respectable amount. But rather than have the challenge drag out over years, I’m going to limit it initially to just 12 months. Even I should not get bored of keeping the challenge going.
So what are the rules for the Challenge?
My starting bank is what existed on 1st January 2018 plus an extra £100 that I added a few days ago. The bank is therefore a mere £156 – in short, the sort of bank that anyone should be able to afford.
I shall be placing mainly back bets on both horse-racing & football. The football selections will be made using my top 4 betting methods:
You can click on each method to be taken to a page giving more information about how each method works.
How will I grow my bank up to £40,000?
To achieve the rate of growth that is needed to get from £156 to £40K in 12-months, I will use compounding ie the stakes will increase as the bank grows. Compounding is a very powerful way to grow a betting bank BUT it does require discipline & patience – both personal qualities that many bettors do not possess.
I will produce a video explaining compounding in more detail in a future post. However, my plan is to grow the bank by 50% per month and I will also add an extra £80 – £100 to the bank each month to accelerate the profits.
What staking plan will I be using?
Normally I would recommend that each back bet is 5% of the betting bank. However, since I have confidence in my betting methods, I may increase the liability upto 10% for some bets.
Will we be able to follow along & see the bets that you place?
No, is the short answer. I will be posting details about how much profit (or loss!) I am making on a monthly – or possibly a fortnightly – basis. There will also be a screenshot of my Betfair Profit & Loss statement but I intend to blur out the bet details.
When will the Challenge start?
It already has! I started placing bets on 1st January so I am already well on the way to completing the first month.
Check back here in early February to see how I’ve got on.