Monday, 2 June 2008

Review of May

I just wanted to write a quick comment concerning the past month. May was my first month back full-time at work and I only really got opportunities to trade on Betfair in the odd evening race and one day at the weekend.

Therefore, to be able to generate a profit of over £660 was amazing really and beats my target I set myself at the start of the month. I always like to set myself little targets to achieve and last month, my target was to get past the £1,500 profit total. Amazingly, I’m sitting just above the £1,900 mark, so I had a great month!

I’ve laughed at some of the recent comments I’ve had on the blog about how good I am at trading as until about 6 weeks ago, I was pretty hopeless at trading to tell the truth. Regular readers of the blog will know how much I struggled trying to scalp in the months of March and April and it was the correct decision by me to stop trying to scalp on Betfair.

In the middle of April, I took the decision to start trying to use my form knowledge to try to trade on Betfair for riskfree bets and it was probably the best decision I’ve made in my gambling life. The turnaround in my results really has amazed me and it gives me great hope for the future that I can make a decent earning from Betfair in the long-term.

My target for the next month is to continue to do as I have been doing for the past 6 weeks. I would like to try to trade a couple of races in the evening every couple of days if possible to help me keep my profit ticking along.

Thanks to everyone for the recent comments and if anyone has any questions about my strategy or how I’m doing, please leave a comment.


John said...

Good work! I also used to try scalping until I realised the results were just down to randomness. Some people may be able to get it to work for them but not me. Since concentrating on one sport only and using my knowledge of that sport, my results took a massive upward turn. As they say knowledge is power….

Anonymous said...


Excellent results if I say so myself.

The transformation over the past 3 months on the blog has been incredible and it gives hope to everyone who has tried scalping and been unable to make it work for them.

I still don't fully understand what it is you do to generate your riskfree bets if you are not scalping but whatever it is, it seems to work well.

I hope this month is just as profitable for you.


Graeme Dand said...

Hi John.

I hadn’t come across your blog before but I had a quick look this morning. Formula One is something I’ve never had much interest in to tell the truth but I can’t imagine that too many traders specialise at this on Betfair, so I’m not surprised you are doing well.

I think there must be many people who have tried to scalp horse-racing on Betfair and given up even though they have had a decent knowledge of horse-racing. I’m probably proof now that there are other ways to make a decent low risk return on Betfair.

Good luck with your future trading.


Graeme Dand said...

Hi Steve.

Cheers for the comment again mate. I think you’ve been reading the blog from the beginning, so you’ll remember the difficulties I had in the past with trying to trade the horse-racing markets. I was very close to giving up on the horse-racing on Betfair to tell the truth but I decided to start trying to use my knowledge more and so far, it’s been paying off handsomely.

I hope to continue to build up my Betfair bank over the remainder of the summer and I’m already starting to work on a longer-term strategy for the future. I do feel I have a trading strategy that works on Betfair and as time goes on, I’ll look to tweak this strategy in order to make more profit.

I feel my margin over the market is quite substantial and all I have to do is remain patient, keep my discipline and the profits will increase over time.

Good luck with your trading.