The Day I Became a Professional Gambler
That was me today (see image). Minus the tan. Because today is the day I left the paper bets behind and put my money where my mouth is by staking over £300 on three ‘fixed odd bets’. These bets say that the FTSE, Dow and S&P500 stock market indexes will not drop, to a particular number, within 7 days.
So.. let me fill you in…
It all started with a friend meeting a guy in a train station in Copenhagen.
This guy he had been building up his “pension fund” by placing bets on the stock market following a specific and easy to follow strategy (Yours for only 3 EASY payments of $999! BUT WAIT … THERE’S MORE! Order now and get this free electronic egg whisk and dog cardigan!) .
This strategy aims is to win small pots of profit by placing reasonably safe bets on a website called BetOnMarkets.com – a site where you can put money on the stock market moving one way or another.
After their chat my friend was rather convinced of it’s potential and went in search of the learning more.
Come Christmas day he’d bought the learning materials for his son, my friend, Karl. At first glance I rolled my eyes and made some snide remark about him being scammed. The second thing out my mouth was to ask to borrow it. The optimist is usually preceded by the skeptic.
A couple of days later and I had a rough idea how to work the system.
It was time to start placing paper bets (practice bets with fake money to test the concept). Karl will tell you, my ‘convincer strategy’ (e.g. my internal method of being convinced) is typically longggggg … I need to see proof, examples, theory behind it and then test it for a few weeks before I’m willing to put any trust in it. And by trust. I mean money.
Two weeks later and the results were in:
A profit of £104.80
And this was 10 minutes per day.
So armed with my our new knowledge (we’d placed more paper bets) it was time to cash in and place real bets.
So with £1020 in my pot I wagered £309.46. And now the waiting begins.
My calculations show that a weekly 10% return is near guaranteed (each bet is a 20% return but factor in losses to get 10%) if you control the two main gambling demons – risk and greed. That’s a 10% compounded weekly return. So if you have a pot of £100 to bet the first week, you have a pot of £110 the next week, then £121 the week after.
Over 52 weeks, that transforms an initial £1000 into £142,042.93 – it can be pretty hard to believe the magic of compound interest is that powerful. But it is.
So I’ll be getting some new business cards printed up now.
Chris Porter
Professional Gambler.
I’ll keep you updated…
