An unsuccessful betting system

More than six months ago I started a betting method for which I had high expectations, but unfortunately it has just finished with very poor results. It took 6 months and a bit more than 500 bets to lose my entire bank, with every bet of 2% of my bankroll. Unfortunately I could not find the correct method to play in a betting model which started quite promising at the beginning.

It’s about playing on Asian handicap with the odds around evens against the big favorites in soccer matches. I chose matches at which the odds for a win for the favorite were below 1.2. My idea was that since people generally like to bet for the big favorites, the bookies will start at some point to increase the underdog’s odds. Accordingly, I thought to take advantage of this by betting against the favorites a few hours before the match, so enough people had been able to make their bets and I would have the increased odds for the underdogs.

betting losses

When I tried this betting method on a paper trial I had profit of 26% after the first 100 matches. This made me hopeful and I started to bet with real money. It was a complete disappointment since even for a moment I couldn’t make more than 10% profit and shortly thereafter a constant downfall began.

After the first 100 bet I had 20% loss. When I made 200 bets I added 10% losses. Then I analyzed the results and found that while betting on less popular leagues and teams the performance is many times lower than in the more famous championships. This makes sense, since the popularity leads to a greater number of bets which leads to a reduction in the odds. Indeed, after I started to bet only on the major championships the downfall was slowed, but unfortunately not stopped.

Soon after that I came to the point where it was clear that there are no more chances for turning back, but I continued betting out of curiosity until the end, which came yesterday.
However, I can say that I learned something from these bets. I was able to develop some supporting ideas and despite the loss of money I don’t regret my decision to try this new betting method.

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