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Tuesday, June 23, 2009

£100, 100 bets. Profit = ……………

If you have been read other posts in the blog you will know that I am trying to get a better return on £100 by placing bets on sports, that I would by putting it in a savings account.

As you will know, each bet I place is for just £1 so as not to put too much risk on my original £100 capital, so early on I stated that to make it a fair test, I would place at least 100 bets so that the whole £100 had been invested.  It would have been easy to place a few bets and once I had beaten the return on a savings account stop and claim my experiment to be a success, but it wouldn’t have been fair.

Well this week I reached the magic 100 bets, placed and settled. So how have I done.

After 100 bets, my betting bank balance stands at £106.21.

At the time I started the experiment, the best savings rate I could have got was 3.61% AER, that was about 3 months ago. So in a year my £100 would turn in to £103.61, while in the three months since I started, it would be worth about £100.90.

So in three months I have a £6.21 profit compared to £0.90 from leaving the money in the bank, or to put it another way, almost 7 times the return compared to the best savings bank account.  Not a bad start.

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