1 Million Pound Football Challenge

Enter the internet age, launch of betting exchanges, removal of tax on winnings, de-regulation, single betting on just about any match you can think of and the whole betting world changed for good. The great news for me is that the changes allow me to do this challenge, which would have been impossible 15-20 years ago.

These days I only place singles on football matches and very rarely do I put a coupon on. The times have certainly changed!

Recently, I was very interested about Trading on Betfair. I did some research and there seems to be a few people out there who make an absolutely fortune trading. I have heard of people making the order of £250,000+ a year from trading on the horses. I thought I would give it a test run and I downloaded the trading software from BetAngel.

The software comes with a free 7 day trial, which was perfect for me to give it a shot. The software is excellent, it allows you to place bets quickly with 1 click and trade out you position fast when needed for either a profit (hopefully) or a loss.

My strategy was to trade in £10's and to try and let the profits run but making sure I have a good stop loss so that I would never lose much. All positions would be squared off before the race started.

From the point of view of discipline I traded well. I made sure I was never overexposed and tried to take as much profit as possible. Altogether I traded over 5 days and about 50 races. In total I lost about £25 during this period. I found it a lot of effort and didn't really see how I could make serious money. It also took up a lot of time staring at the computer screen.

The conclusion, trading is not for me so I'm sticking with straight betting. I would like to hear from anyone who has had a lot of success trading and can make it work (a few secrets would be good as well!!)