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    surely though it makes more sense to go for certs with better odds?

    putting in 1000 does seem to be alot of money
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    (Original post by TheWolf)
    it doesnt kinda look alot to bet 1000 when the return is £70, but then again, rugby is rather predictable at the end of the day , so no wonder the odds are like this
    Yes, but when you know you are going to win, ask yourself how much you would earn off interest over a year on 1k. Its around £30, thats the way I look at it.

    The thing I find funny is that stock brokers are professional gamblers and people dont have a problem with giving money to them, I just prefer to get maximum profit instead of giving mr middle man a hefty sum.
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    (Original post by piginapoke)
    Well yes it does look like a rather safe bet. But, bet 14 times on 1/14 shots and you may well find you're losing out. There are easier ways to make money with betting - often in an event with only two possible outcomes, the odds offered by different bookmakers will allow you to back both outcomes and make a profit.
    so how does that work? surely the bookmaker will be looking to profit themselves?

    so are you allowed to do that for say an FA cup final? back both teams to win?
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    (Original post by piginapoke)
    Well yes it does look like a rather safe bet. But, bet 14 times on 1/14 shots and you may well find you're losing out. There are easier ways to make money with betting - often in an event with only two possible outcomes, the odds offered by different bookmakers will allow you to back both outcomes and make a profit.

    Yes, but I know my rugby. Thats the key, know your field. My dad spread bets on commodities and makes a killing. You use your strenghs.
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    (Original post by 4Ed)
    so how does that work? surely the bookmaker will be looking to profit themselves?

    so are you allowed to do that for say an FA cup final? back both teams to win?
    YEs, but the odds they give you always mean you lose unless say you put £1 on one bet and 1k on another. Bookies arent stupid.
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    (Original post by Joey_Johns)
    Yes, but I know my rugby. Thats the key, know your field. My dad spread bets on commodities and makes a killing. You use your strenghs.
    so is there a maximum betting amount? else you could just stake all your assets on a dead cert ...
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    (Original post by piginapoke)
    It only works if 2 different bookies are offering different odds, it doesn't work just using the same bookie as they have 'book' of more than 100% - in other words they will make a profit no matter what if you back both.

    An example of this a couple of years ago from football: one bookie was laying odds for Peter Reid to be sacked before the end of the season, another bookie was offering odds on him to still be in his job. The odds were such that for every £100 staked (I think it was £90 on one, £10 on the other or something) you would make £10. That's a 10% profit for absolutely nothing.
    that's pretty cunning

    many of my new colleagues at work are all really into betting... though they don't seem to be as sophisticated as the methods u described...
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    (Original post by piginapoke)
    It only works if 2 different bookies are offering different odds, it doesn't work just using the same bookie as they have 'book' of more than 100% - in other words they will make a profit no matter what if you back both.

    An example of this a couple of years ago from football: one bookie was laying odds for Peter Reid to be sacked before the end of the season, another bookie was offering odds on him to still be in his job. The odds were such that for every £100 staked (I think it was £90 on one, £10 on the other or something) you would make £10. That's a 10% profit for absolutely nothing.
    then why doesnt everyone putt all their momeny on it
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    (Original post by 4Ed)
    so is there a maximum betting amount? else you could just stake all your assets on a dead cert ...
    Depends with bookies. Some are 10,000 some are 250,000.

    Yes, your right. And its what profesional gamblers do. Profesional gamblers often earn 400k a year. They make most of their money from spread betting but they love dead certs as well. I just dont know what they put on their tax returns lol.
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    (Original post by piginapoke)
    It only works if 2 different bookies are offering different odds, it doesn't work just using the same bookie as they have 'book' of more than 100% - in other words they will make a profit no matter what if you back both.

    An example of this a couple of years ago from football: one bookie was laying odds for Peter Reid to be sacked before the end of the season, another bookie was offering odds on him to still be in his job. The odds were such that for every £100 staked (I think it was £90 on one, £10 on the other or something) you would make £10. That's a 10% profit for absolutely nothing.
    YEs that is a favourite of professional gamblers.

    The thing is with the internet it is so easy to make a proft because looking at odds is so quick.

    Another method is 'live betting' on some websites. If say your football club is 2-0 up with 15 minutes to go the chances of them losing is very slim. I've only ever put a live bet on when the game was on TV though because I knew the other team were dire.
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    (Original post by Joey_Johns)
    Depends with bookies. Some are 10,000 some are 250,000.

    Yes, your right. And its what profesional gamblers do. Profesional gamblers often earn 400k a year. They make most of their money from spread betting but they love dead certs as well. I just dont know what they put on their tax returns lol.
    is the amount u earn from betting taxable then... *imagines a P45 with the phrase 'income from betting'*
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    (Original post by 4Ed)
    is the amount u earn from betting taxable then... *imagines a P45*
    No its tax free at the moment thats the beauty of it. If you do it with you debit card the money goes straight into your account.

    I just dont know how gamblers explain to their bank and the tax man 400k going in their account a year lol when they are 'unemployed'.
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    (Original post by Joey_Johns)
    No its tax free at the moment thats the beauty of it. If you do it with you debit card the money goes straight into your account.

    I just dont know how gamblers explain to their bank and the tax man 400k going in their account a year lol when they are 'unemployed'.
    they probably claim income support and job seeker's allowance as well

    so what's your best win been in terms of odds?
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    (Original post by 4Ed)
    they probably claim income support and job seeker's allowance as well

    so what's your best win been in terms of odds?

    Yes, that is what I was getting at, although I do believe if you have so much money you cant claim income support...but I guess there will be ways round that.

    5 to 1 on for a Superleague game last year in that type of betting.

    I won the grand national one though I think its was 8-1 , but obviously that was something like a £10 stake, i'd never put big money on gee gees, its a mugs game.

    If anybody is interested you can get 9 to 1 on Bradford Bulls beating Huddersfield this afternoon. Thats £110 for a 1k bet. Bradford should def win especially since they have got Robbie Paul back, they are just to strong.
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    (Original post by Joey_Johns)
    Yes, that is what I was getting at, although I do believe if you have so much money you cant claim income support...but I guess there will be ways round that.

    5 to 1 on for a Superleague game last year in that type of betting.

    I won the grand national one though I think its was 8-1 , but obviously that was something like a £10 stake, i'd never put big money on gee gees, its a mugs game.

    If anybody is interested you can get 9 to 1 on Bradford Bulls beating Huddersfield this afternoon. Thats £110 for a 1k bet. Bradford should def win especially since they have got Robbie Paul back, they are just to strong.
    lol i should have remembered that about income support - my job at the moment is IS related although there are some types of money that counts as non-qualifying income.

    a colleague of mine put down a pound predicting the outcome of the 12 international matches a few weeks back..... he would have won 15000 if they were all correct! though he'd missed out by the time the second result came in

    not sure about betting myself- you make it all sound pretty easy, but i'd feel pretty worried putting down £1000 at the bookies!
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    (Original post by 4Ed)
    lol i should have remembered that about income support - my job at the moment is IS related although there are some types of money that counts as non-qualifying income.

    a colleague of mine put down a pound predicting the outcome of the 12 international matches a few weeks back..... he would have won 15000 if they were all correct! though he'd missed out by the time the second result came in

    not sure about betting myself- you make it all sound pretty easy, but i'd feel pretty worried putting down £1000 at the bookies!

    Yes, its very hard handing over notes, thats why I use the internet.

    Sometimes I wish I had become a stock broker. They get information 'live' so to speak during work and can take bookies for a ride. I've heard of one stockbroker who earn £70k basic but actually earned 2 million in a year. Like I said, its so easy now with the internet, its almost instant.
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    (Original post by Joey_Johns)
    Yes, its very hard handing over notes, thats why I use the internet.

    Sometimes I wish I had become a stock broker. They get information 'live' so to speak during work and can take bookies for a ride. I've heard of one stockbroker who earn £70k basic but actually earned 2 million in a year. Like I said, its so easy now with the internet, its almost instant.
    true, it's a good way to earn money quickly - but you probably have to watch out for a financial slump or depression - ie there isn't much security. although 2 million sounds tempting :cool:

    instead you're going to become a classicist....... what next then?
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    (Original post by 4Ed)
    true, it's a good way to earn money quickly - but you probably have to watch out for a financial slump or depression - ie there isn't much security. although 2 million sounds tempting :cool:

    instead you're going to become a classicist....... what next then?

    It doesnt matter if there is a slump or depression. You can make as much money from that as if the economy is booming. They spread bet mostly. E.g. they would say that a ceratin companies shares were going to fall by a certain amount, and put £10 on for every drop in pence. Like I said, thats what a stock broker does for a living so they are very good at it, they are given information quicker than anyone else, it might take a betting company an hour to change the odds, it only takes 5 minutes to make a bet on the web

    I law conversion course probably. See how my degree goes first
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    (Original post by Joey_Johns)
    It doesnt matter if there is a slump or depression. You can make as much money from that as if the economy is booming. They spread bet mostly. E.g. they would say that a ceratin companies shares were going to fall by a certain amount, and put £10 on for every drop in pence. Like I said, thats what a stock broker does for a living so they are very good at it, they are given information quicker than anyone else, it might take a betting company an hour to change the odds, it only takes 5 minutes to make a bet on the web

    I law conversion course probably. See how my degree goes first
    certainly does sound appealing!

    yeah i was about to say that lawyers are pretty well paid.... i shadowed one of the partners in one of the top 5 corporate law firms in London 2 years ago- he earns a share of the company profits each year, AND he can charge something like £475 and hour. Just to hit it home - my friend phoned me to boast about having earned £1000 in coop over a few months.... this guy sat in a 5 hour meeting and earned twice that - spent 1/3 of it eating, 1/3 of it having a social conversation, and the last third actually talking shop. I was in the meeting for all this time just munching at the buffet on the side
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    (Original post by piginapoke)
    Well some people lost a lot of money betting in-running on Spurs when they were 3-0 up against Man City who were down to 10 men....
    lol one must never forget things like Nwankwo Kanu's hat trick in 10 minutes against Chelsea a few years back
 
 
 
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