And We’re Off

The wire transfer completed successfully today but naturally I didn’t end up with 300 quid as Lloyds TSB took their cut just for dealing with the transaction. Nevertheless there is money there now so I have dumped 150 quid into Betfair as my start point.

For anyone who regularly reads the Betfair forums, or any other gambling forum for that matter, it’s inevitable that you’ll come across posters who get accused (rightly or wrongly) of aftertiming, ie claiming to have made money from a bet or series of bets but not posting until after the result is known. In many cases a lot of these types of posts are simple trolling exercises by the original poster(s) and really are a waste of forum space. Conversely a lot are genuine but regardless of how the posts are taken by the readers the impact is only really felt by the person posting up a claim of a winning result after the result is actually known. Many are serial aftertimers and get stick for it but they are usually the attention seekers who are more often laughed at that taken seriously.

I’ve been thinking about how to avoid the ‘aftertimer’ label as, with most blogs, they don’t get written up until the days action is completed. That said, a lot of blogs I’ve read will have write ups about a particular match or race and will have their intended bet posted up. Only rarely will that happen here as I don’t bury my head in formbooks when it comes to racing and I really don’t go to a tremendous amount of trouble to find out team line ups the second they are made available. With a few exceptions, I never know what I’m going to be getting into on any given day until I get into it and I know for sure that I’m not alone.

I keep a spreadsheet that lists every bet I have and for P&L reporting purposes that is what I will be inserting in this blog. It’s fairly straightforward and infinitely preferable to the P&L you get from Betfair. Here it is followed by an explanation of what’s going on…

The columns are fairly self explanatory. I started recording bets on this spready on the 24th Jan 2009 after funding my Betfair account with 800 quid…there was an odd 14p still in my account hence the start bank of 800.14. All my turnover, deposits, withdrawals etc are calculated on the very bottom line of the sheet and as you can see the last few cells of the sheet show my current status (down 1611.56 since the 24th Jan 2009). Column Q and the bottom row, currently row 1991, are automatically calculated from the info I enter when I record my bets.

The column names haven’t changed since I first knocked this sheet up several years ago…the Horse / Event column is so named because when I first started recording my bets I was mainly betting in the horse racing markets. In column D (Horse / Event) you may notice a very small red triangle in the top right of the cell which denotes a comment I have made on the event to remind me what went wrong, or to warn me off certain teams that I thought were clearly not trying. In the result column I colour code the outcomes. Green is good, Pink is bad. In matches where I lay a half time score I record the first half score followed by the full time score in the result column (as in the Liverpool v Bolton match 1-0/2-0).

So here we go…everything is in place, all I have to do now is win some money…how hard can that be ?

UPDATE>>>>>>>>> OK, it’s 16.45 my time 21.45 UK time and betting for the day for me at least is finished. I may have a dabble later in the evening on the Aussie racing but we’ll just have to wait and see if anything interesting crops up.

The spready is updated and I’m pleased to be able to show a decent start to this campaign. I was a bit concerned with the Newcastle game as I couldn’t find a link anywhere to watch it and the Betfair forum wasn’t much use as the match thread was all about taking apart a particular guy’s losing bet rather than focussing on what was happening on the pitch. I had backed unquoted after the 3rd goal had gone in but had to wait til halway through the second half before the bet was landed. At HT I layed Newcastle at 1.02 just in case Cardiff got their act together thinking it would give me a way out in case Newcastle didn’t score that 4th goal but all was well in the end.

UPDATE>>>>>>>>> I ended up placing a bet on a horse running in Oz but it wasn’t even in the frame…a very poor effort. Here’s the updated spreadsheet followed by the days totals…

Start Bank      :    150.19
End Bank        :    202.30
Profit / Loss    : + 52.11 (After Commission)

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