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.