| Trading V Gambling | | | | |
| | | | My bet was £100 at 6.60 (betting exchanges |
| When on line gambling died and a new king was | | | | work in decimals) this would give me |
| born long live the new king long live the | | | | a profit of £560 + my £100 stake if |
| on-line trader. A revelation swept the | | | | Tiger did win. |
| gambling world in June 2000 with the launch | | | | |
| of the betting exchanges. | | | | But of course if he lost i would lose my |
| Essentially these sites have allowed us | | | | £100. |
| punters to become bookmakers and have | | | | |
| introduced people to people betting thus | | | | Thanks to the betting exchanges allowing us |
| doing away with the traditional bookmaker. | | | | to trade this does not have to be the |
| But more importantly they have given us the | | | | case. |
| option of being able to trade our bets. | | | | |
| | | | At the end of the first days play Tigers odds |
| Why is this important ? Well lets take the | | | | had come down to 3.45 from his original |
| 2006 British Golf open ,this is a 4 day | | | | 6.60 this would allow me to do a lay bet, in |
| event with 156 players taking part, the | | | | other words i was now going to bet against |
| favourite for this tournament was Tiger | | | | Tiger. |
| Woods. | | | | |
| | | | Now i had a choice i could make my bet for |
| Now Tiger is being labelled as the best | | | | £100 which meant that if Tiger did not |
| golfer the world has seen and if you studied | | | | win then i would break even and win or lose |
| his record you could not argue, but from a | | | | nothing, if he did win my winnings would |
| betting prospective you are being asked to | | | | be £315 or i could make my bet for |
| put your money down on 156 runner field that | | | | £150 then if he lost i would win £50 |
| last over 4 days with Tigers odds at 6/1. | | | | who ever won but if Tiger did win then i |
| | | | would win £193. |
| So you go down to your local bookies or go on | | | | |
| line and place your bet on Tiger then sit | | | | Or i could leave the bet and gamble. |
| back to watch your golf and hope you have | | | | |
| made the right bet. | | | | Before the arrival of the betting exchanges i |
| | | | would not be able to do any of the above |
| At the end of the first days golf the leaders | | | | and would have had to agonise over the 4 days |
| score is 66 but there are 32 players all | | | | and hoped that Tiger could weave his magic |
| within 3 points of the leader and a further | | | | and i would win my bet , as things turned out |
| 17 within 4 points so with 3 days still to | | | | i opted for the £150 bet and sat back |
| play there are 50 players all within 4 points | | | | and watched 3 thrilling days of golf safe in |
| of each other, and within those 50 players | | | | the knowledge that who ever won i would be |
| there are some of the best golfers in the | | | | at least £50 better off. |
| world including the best Tiger. | | | | |
| | | | As history will show Tiger did weave his |
| Now if your bookmaker phoned you up at this | | | | magic and came through to win by 2 points |
| stage in the tournament and offered to | | | | and i ended up £193 better off. Yes |
| settle your bet at 30-40 or 50% of what you | | | | i could of stuck to my original bet and have |
| may win bearing in mind the above what | | | | won a further £367 but that would have |
| would you do ?. | | | | been gambling, and i do not gamble any more i |
| | | | am a trader. Long live the new king |
| Well this is what i did. | | | | long live the on-line trader. |