Running Scared?

I think I may have achieved another ambition of mine, though, as a trader, it is pretty irrelevant in the grand scheme of things. However, in my days as a gambler, I always wanted to get to the stage where a bookie restricted my account. Today, Boylesports stopped me placing a £50 bet and limited me to £10, which I refused.

This all came about because of the matched betting I have been doing. Boylesports have a rather generous sign-up bonus of up to £200. They'll match a £50 deposit/bet immediately then, after 5 subsequent bets of £50 they'll give another £50 free bet. They'll do this two more times.

I was in the process of setting up my 4th and 5th bets to qualify for my third free bonus when their site refused to accept my £50 on Ipswich to win @ 3.00. When I phoned them I was told that they were limiting me to £10. They were, and still are, unclear if this is a permanent restriction on my account. I'll be annoyed if it is as another two £50 freebies would go down nicely, thank you very much.

I've hit Boylesports quite hard as I have worked my way through their offer. They've paid me a total of £795.50 in profit in two weeks covering 11 bets, including two £50 freebies which both paid out at odds of 3.80 and 10.00. Only 4 of the bets have been losers.

Of course, I've seen nothing like that profit as I've been laying everything off over at Betdaq in order to guarantee myself a positive return. Still, having only signed up with them two weeks ago, perhaps it was enough to have them running scared.

Whilst on the subject of matched betting, I completed my sequence of bets with 888sport today, finishing off with a free £20 bet on Liverpool winning 3-1 @ 19.00. I laid off on Betdaq @ 20.00 for a guaranteed profit of just over £17.

That got the day off to a good start. Pity about my trading.

From the first moment I opened BinarySoft, I simply wasn't in the mood, and it showed. I lost on the first 3 dog races I entered. Not much, but it was enough to set the tone. When I switched disciplines in order to trade the first at Lingfield, I immediately lost £5.57 in the place markets.

I set about recouping the losses in the dog markets and once I got myself back in profit, I quit. My heart simply wasn't in it today.

After an extended break, I rejoined the fray and thankfully my dog trading was much better and the profit started to build. Unfortunately, I kept shooting myself in the foot in the horse place markets.

I only did 8 horse races and came away with an overall loss of £8.51 having lost £11 in 3 losing races. I don't know what's wrong with me these days in the place markets. I just cannot seem to get them going at all.

The greyhounds remain my strongest area, but even today, I was off form. 28 races traded today, and only £18.75 to show for my efforts. The 7 races I lost were not significant in size, but neither were the ones I won.

So my trading only accounted for £10 of today's profit, which is very disappointing, but a profit it remains and keeps the graph going in the right direction.


col said...

Hi Great blog,only one problem i can see i dont class free bets as a trade so why dont you have a free bets total so we can keep a check on the trading,all the best for 2009

Alistair said...

Hi Col, and thanks for popping by.

I have no need for a separate 'free bets' total for a number of reasons:

1. I disagree with you that matched betting isn't a trade. I'm backing and laying off in order to guarantee a profit. The very essence of trading. The fact that someone else is giving me money to enable me to do so is irrelevant.
2. I have no need for anyone to 'keep a check' on my trading. That's not the purpose of this blog. I maintain this blog purely for selfish reasons. If others are able to get something out of it then fine.
3. As someone once said, 'there's more than one way to skin a cat on Betfair'. Myself, I scalp, take long-term views, match bet and form opinions all with the single aim of getting me into a profitable position. It's all trading to me.

In all likelihood, I'll stop showing my P&L once my anniversary comes along at the end of Feb. I think it will have served it's purpose in showing new traders that it can be done from a small starting bank. Other than that, it's pointless.

Best wishes for 2009


Anonymous said...

Hi Alastair,

Found your blog whilst searching for trading software that works on Linux. Is there anything out there?

I remember trying something called Binarysoft which worked, although I didn't much like the interface...


Alistair said...

Hi Tony,

Sorry you do not like BinarySoft. I wouldn't be without it.

Anyway, trading software that runs natively on Linux is, unfortunately a rare thing. Apart from the now unavailable BinarySoft, there's only the Betdaq Trader software, which of course only works on Betdaq.

You can forget about Bet Angel and Bet Trader Pro.

I believe Gruss have released a web based solution for Betdaq and will ultimately do so for Betfair. However, it relies on Adobe AIR which doesn't have a Linux version as yet.

As far as I am aware, there's nothing else that runs natively on Linux. You'll have to go the virtual box route or succumb to the Evil Empire.


Anonymous said...

I think maybe if I'd given Binarysoft a bit more time I'd have got to grips with it.

Have you tried any of the other trading software using 'wine'? Oh and Adobe Air has a beta version out since the 19th of December I believe.

I've been Microsoft free nearly 2 years now. The evil empire can go swivel :-)


Alistair said...

Hi Tony,

I'm afraid I've never had much success with WINE for anything but the simplest of programs - not that I have any desire to run Windows software anyway.

The vast majority of Windows based trading software is dependent on the .NET Framework, which doesn't work on WINE as far as I am aware.

Although I've never had the need to delve into WINE in any great depth, my understanding is that it isn't the most stable of environments. If that's the case, I wouldn't want to be using it to run software that plays with my hard earned cash.

All in all, I think the virtual box solution is the only option - at the moment - assuming you have the resources to handle it.

Having said that, Gruss/Adobe AIR might be an option soon and it may be worth contacting them directly.

Also, Adam Todd of Bet Trader Pro fame, hinted at new developments when he was interviewed on WUBT Radio. I got the impression that it is going to be web based, but that just might have been wishful thinking on my part.

Sorry I cannot be more helpful, but hopefully things will change this coming year.

All the best for 2009