Sunday, 20 March 2011

Poor end to a tough week.

It feels like it has been a long week. The excitement of Cheltenham, the losing days and the big 4PA rescue on the Friday, and now a poor weekend. If I could, I'd take a holiday from betting, just to recharge the batteries. But now is not the right time for that. That will have to wait.

Today's Action

Very quiet on the racing front, with only PJA and Northern Monkey in action. Neither service could find a winner, the only return coming from Northern Monkey, one of whose selections came third (Luisant - The Curragh - 9/2).

PJA NH: Staked 0.75pts, -0.75pts.
Northern Monkey Punter: Staked 1.75pts, -0.687pts.
Total financial loss on the racing of £28.74.

Unfortunately Football Elite had a poor weekend of it, two losers from two today. Shaolin Betting also had two selections, one of them a successful one (Chelsea -1 on the handicap vs City) for a small profit.

Football Elite: Staked 2pts, -2pts.
Shaolin Betting: Staked 2pts, +0.25pts.
Total financial loss on the football of £187.50.

Sunday 20th March: Staked £350, -£216.24.
Week: Staked £4,537, -£203.17.
Month to date: Staked £11,504, +£370.05, roi 3.21%.

So a losing week, the first for a little while. Wading through treacle is the phrase that comes to mind when I look at 2011 so far though. After staking over £40k, I'm the grand total of £140 up! This all seems a far cry from the nice profits made over the second half of last year, at a decent roi too. What has hit hard is that each month has seen a disaster month for either one or two services that has simply been too heavy for the remainder of the portfolio to do anything other than keep the whole thing afloat. I have heard that this is all part and parcel of the game, that it is not uncommon for portfolios to perform like this and in fact it is a good thing. The theory goes that if you can stay with your nose just above water whilst things are not going well, then you are in a great position when things take a turn for the better. This is the first time this has happened to me though, so whilst I understand it may all be natural, it is currently feeling like a struggle. Of course, when this period ends and good profits are made, I will feel all the stronger for working through what is happening at the moment. That is the value of experience. It's just a shame that there is only one way to gain it.


  1. "After staking over £40k, I'm the grand total of £140 up!"

    Just goes to show how much patience is needed in this game. People always say to me, "if you can actually make a living from "gambling" why isn't everyone doing it??"
    The above statement is why. 99% of people like to/need to work in a comfort zone with a guaranteed weekly/monthly income. It is a higher risk means of an income and less regular which does not sit well with many people, hence why these same people would probably never consider the fact of opening a business and are happy to work a regular and low risk daily job.

    Obviously there are other factors such as supporting a family which means they can't dedicate the time needed or handle the risk factor.

    just my little on my opinion from that comment quoted.


  2. Hi Andy,

    I think you're spot on - I think most people in life want the comfort blanket of a regular income and I would never criticise anyone for that, but consequently very, very few could ever consider gambling for a living.

    I'm fortunate in that right at the beginning of my career, I had the opportunity to start with a brand new, two-man company (one of which was me). It introduced me to risk and the concept of being opportunistic and I believe it has provided a good grounding for gambling "properly". There was no safety net then either, and still isn't in my day job, so to not have one with gambling is not a new concept to have to terms with. Had I gone down a more traditional route of joining a big company and working my way up the ladder, I wonder if I would be able to try and do what I am trying now with the portfolio. It's possible, but I do believe it would be much harder.

    Family does complicate things - I have two young children myself. Would this stop me from trying to gamble for a living though? I'm not sure it would in itself, but I would want a bit more experience before going down that route. My patience is being tested at the moment, but better to be tested whilst not relying on performance to pay the bills. I hope and expect to pass any test thrown my way, but I can't guarantee it.

    Coping with risk. There's got to be a fair few posts in that subject! (lol).

    Anyway, thanks for posting.