Monday, September 26, 2011

Why do I do this - part 2

For part 1 refer back to my post through the links on the right hand side.

So after reading the Observer articles I spent the best part of the next 3 months debating as to whether I should take the plunge!! I finally signed up to The Mathematician, choosing that over Steve Lewis Hamilton or Sport4Profit simply because I thought the subs were more manageable.

The service ticked along nicely and I made a small profit but the account bets were few and far between and I was hooked that this could potentially be a good way to make money. I decided to join SLH to try to ramp up the potential profit - I joined bang on the right time as Steve hit a massive long purple patch.

About the same time as joining SLH I had a brief email conversation with Greg Gordon to ask about how I got decent proofing of other tipsters - and Greg introduced me to the Secret Betting Club and I was amazed that all this was going on and I'd known nothing about it!! I immediately joined and anticipated the monthly newsletters with as much anticipation as I had waiting for my weekly Record Mirror magazine when i was a kid.

And really thats where portfolio betting kicked off for me.

2008 and 2009 were both very good years. Things haven't gone so well for me since then - last year was a tough old slog and this year hasn't been much better. I've made plenty of mistakes, been burnt by following some poor performing tipsters; I chopped and changed too much over time while not really having the right balance across the portfolio but am beginning to pull together a plan as to how I take this forward to try to run it like a proper business which will make me a respectable 2nd income each year. I'm not looking for much. £20 a day profit would give me £7,300 a year tax free income. You'd need to earn £10k plus to get that from a taxed income.

There's been more than once that I've thought about jacking it in, but I've enjoyed it - Steve Lewis Hamilton's 33/1 shot the day before Cheltenham 2009 being the memorable highlight - it was the 1st day of my honeymoon and I slipped the bet in and the resulting profit paid for the week!! Tremendous.

More to follow.


Anonymous said...

Enjoying your blog. I run a racing blog called High Class Equine and interesting in exchanging links. Take a look our blog and see what you think:


Anonymous said...

Many thanks.


John said...

Hi, I'm considering starting to follow professional tipsters as I've lost thousands of pounds through my own bets and chasing subsequent losses. I realise discipline and patience are required. Did you find it easy to start following tipsters and putting your money in their hands? I am keen to move some of the negative emotion from my betting. Which tipsters would you recommend me starting with, bearing in mind that some seem to have full subscriptions. I have signed up with SBC but I would like your advice too as you've clearly been doing this for quite some time. I don't want to get my fingers burnt and lose more money in the process although I realise this is an investment and I have to accept the risks. Who is the safest tipster to follow in terms of long term profits and minimal losing runs? Thanks for any advice in advance.

Anonymous said...

How did Gekko do tonight? Any better?


mrh-beats said...

Hi Jason - have added and will have a nose at your blog. Have had a quick look and looks great. Thanks for adding my site.

Hi John - probably something I should cover in a full post but in brief -

* Definitely discipline and patience required - it's certainly not the get rich quick scheme I originally imagined.
* Following tipsters and giving money - yes it was relatively straightforward as I'd done enough research to be comfortable with my decision - but it sure was nerve racking waiting for the first winners to come in and get into the swing of things.
* It's hard to remove negative emotion - I'm still far too emotional about it all but you've got to keep plugging away.
* Good idea to sign up to SBC - you should also consider signing up to the SBC Advanced (soon to become SBC Pro Betting Guide) which provides a huge amount of detail about portfolio management and other support.
* It's really hard to recommend any tipster as you need to go with ones you feel comfortable betting with and the way they work suits how you want to do it. E.g. - Systematic Betting pumps out up to 32 bets a day between 9.30 and 12 - can you get those bets on in a timely manner? Or Steve Lewis Hamilton you have to call at 1pm every day - can you do that? Are you happy with a daily service or occasional service. My most successful long term tipsters are Systematic (waiting list unfortunately) and Steve Lewis Hamilton (open). I like Northern Monkey (open) and is going well with regular bets as is Equine Turnover (possibly open). Do you want to bet on Football and Horses? Definitely get an idea of what you want to bet and how and when. You will see that I have struggled to make a profit!
Sorry a bit of a ramble - but hope it does help. Let me know where your thinking goes.

Hi Steve - I had mad panic at 9pm as I forgot to put the bets on and it looked like there'd be profit in the day but I had to leave it. There were 6 bets and only 1 winner so still no progress. A lucky escape for me today. Don't know where the service is going.

Anonymous said...

Posted to stick up for slh the other day but today's selection was a strange one,horse coming off flat with no jump form and a 7lb female claimer on board,even with inside knowledge still not a solid bet,n.monkey been the same chasing big prices with not much hope over last 8 days.I e betting against a4/7 shot ew in a 7 runner race.think he is 8 days and who knows how many bets(not done my figures yet)since last winner.
What do you think?

mrh-beats said...

Anon - I have to admit I did think the same when I listened to the message, but as we discussed I trust him to deliver over the long term!

Re Northern Monkey - been a tough couple of weeks but unlucky yesterday as race went down from 3 to 2 places and the pick came third! Much better today with a 12/1 winner and 9/1 place. Feels like that kind of service though but long term is profitable. Well priced too!