When on-line gambling died and a new king was born, long live the new king,
Long live the on-line revelation sweep of the gambling world with its June 2000 launch
the betting exchanges. . Essentially these sites have allowed us to become punters and bookmakers and have people who are interested in doing so.
But they have given us the option of being able to trade our bets domino qq.
Why is this important?
Well lets take the 2006 British Golf Open, this is a four day event with 156 players taking part.
The favorite for this tournament was Tiger Woods.
Now the Tiger is being labeled as the best golfer the world has seen, and if you have studied
His record you could not argue.
156 Runner field
Tigers odds with four days over those lasts at 6/1.
So you go down to your local bookies or go on line and place your bet on Tiger then
sit back and watch your golf and hope you’ve made the right bet.
At the end of the day, the first days of golf the leaders score is 66 but there are 32 players
All within three points of the leader and another 17 within four points with three days
There are still 50 players out there with four points each.
There are 50 players out there who are some of the best golfers in the world, including the best Tiger.
Now if your bookmaker phoned you up at this stage in the tournament
To settle your bet at 30-40 or 50% off what you may win in mind
what would you do Well as a trader this is the action I took.My bet was £ 100 at 6.60 (betting
This would give me a profit of £ 560 + my £ 100 stake if Tiger did win
But if he lost I would lose my £ 100.
Thanks to the Betting Exchanges, we have no business to do this.
At the end of the first day of play the Tigers odds had come down to 3.45 from his original 6.60 this
I would go to bet against Tiger.
Now I had a choice, I could make my bet for £ 100 which meant that if Tiger lost then I would break even and win or lose nothing.
Or I could make my bet £ 150 then Tiger lost I would win £ 50 who ever won.
If Tiger did win then I would win £ 193 .Or I could leave the bet and gamble.
Before the arrival of the betting exchanges I would only be able to ride my gamble ride
The Tiger could have hoped for four days and hoped over the agonize
weave his magic and I would win my bet.
I opted for the £ 150 bet and sat back and had three thrilling days of golf safe in the knowledge that whoever won I would be at least £ 50 better off.
As Tiger did weave his magic and came through to win two points
£ 193 better off.
Yes I could have stuck to my original bet and had won £ 367 but that would have been gambling.
I don’t gamble any more I am a trader.
Long live the new king, long live the on-line trader.