I have started this blog with the intention of storing my thoughts and
reasons behind my bets in the optimistic challenge I’ve set myself to
try and turn £100 into £100,000 through gambling alone. I started this
said challenge a while ago and I’m vastly approaching 100 bets. It seems
I’m not doing very well in this venture as I’m currently down by £18.30
through 87 bets. I hope by writing out analysis for each of my bets and
then evaluating each bet after the result I can find out both my
strengths and weaknesses in my betting. I can then focus on my
strengths whilst at the same time try and improve on my weak areas.
Only through looking at your analysis beforehand and comparing it with
your thoughts after a bet can you concluded whether the bet you placed
was a good one. It is easy to say in hindsight your bet was a bad one if
it loses and a good one if it wins, this is of course faulty
logic. Betting is all about finding opportunities that represent value
(i.e. where the probability of the event happening does not equate to
the price offered). This can prevent quite a mental dilemma sometimes in
situations were good value bets can lose and bad value bets can win. It
is more a case of focusing on whether a bet was a value, if you
concentrate on finding this said value in the long-term profitably will
take care of itself.
The ultimately rather day-dreamy aim is the bank £100,000 somewhere along the way. I plan to 'bank' profit along the way if I reach certain targets. The first of these targets is £150. I shall do a full bet review every 100 bets to further analysis performance.
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