No-Lose Betting - Fact of Fiction?
Ok, so this sounds far too good to be true. What is it and how does it work? Well its something that occurred to me ages ago, and its something I heard about on the radio a couple of years ago. But I've never looked into it further until now. It involves finding a sporting event and betting on both sides being the winner. Now, initially, that will just sound dumb, as if you do that at any bookies you haven't got a hope of winning every time unless you have a really bad bookies who can't count.
The secret is to place the bet at two different bookies, or two different websites, as you can these days.
It was the Bruno / Tyson world title fight that made me think about this to start with. My God that must have been a long time ago. I remember a commentator talking about the odds on Frank Bruno winning. In the UK, he was quite fancied, because people backed him out of patriotism / blind faith. Whereas in the States all the money was on Tyson.
So in the UK, the odds were (I am making these numbers up just for this example):
Frank Bruno: 4/7
Mike Tyson: 2/1
Whereas in the US, the odds were:
Frank Bruno: 4/1
Mike Tyson: 2/7
So, place £10 in the Uk on Tyson, and £10 in the US on Bruno.
If Bruno wins, you lose £10 in the UK but win £40 in the US, so you are up £30 in total.
If Tyson wins, you lose £10 in the US, but win £20 in the UK, so you are up £10 in total.
So you will either win £10 or £30. You cannot lose.
Now, that was possible 20 years ago. Can you still get odds like that today? The key is to find an event which has a lot of passion surrounding it, where heart will rule over common sense with regards to bets. The Six Nations might be a good place to start, but I think thats a bit too close to home. Possibly a European football match involving an English team? The only issue there is that I might have to navigate a foreign language betting site. I don't relish that prospect. So perhaps an event involving the US instead?
I will update this blog when I have found a suitable event. Watch this space...
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