With my betting investment challenge two weeks in and the bank depleted by a third, readers were probably felling a little underwhelmed by my plan. Well results have picked up in this third week and the bank is back over £300. Some of the tipsters are starting to perform again and the additional trading is starting to pay off.
I’m convinced I’ve got my strategy right now and I’m keeping myself inspired by looking at what might be possible in terms of this investment.
We’ve all seen the all in type challenges where the betting newbie realises that if he starts with a tenner and goes all in 391 times he will be a millionaire (in theory) and although this is near on impossible it does demonstrate the power of compound interest.
If we can increase our betting bank on average by just 2% per week, our £364 starting bank would be £1000 by the end of the year. Big wow you might think but do this for 4 years on the trot and you suddenly have £22,000. Do it for another 4 years and you’ll never need to work again.
2% is not a big ask but it is easier to achieve with trading because it’s easy to make a lot of small (and occasional big) wins and this is partly why Betfair had to introduce the premium charge. Messrs Cassini and Iverson have both grown their small £100/£250 investments into 6 figure sums and whilst it’s not as easy as it once was, it’s definitely still achievable.
It’s not impossible with betting either and there is also the time costs which have to be considered with trading. WinningTipster has grown his starting bank of 1,000 euros into over 100,000 euro in 9 years. Had you followed BettingResource’s tips in the last year your bank would have grown almost ten times as much too and it just shows you what is possible with a little patience and perseverance.