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