Saturday, 1 October 2011

Autumn shakeup

The second half of September was a tough one for me. The returns from the pre-race trading have been getting thinner and attempts to make up for it in the in-running markets have been less-than-successful.

I was intent on winding down for the Autumn and Winter and perhaps only trading 3-4 days a week, but it hasn't happened. It's always in the back of my mind that the "writing may be on the wall" for Betfair amidst the current hoo-ha...
  • falling share price
  • serious data breach
  • Tote foul-up
  • increased downtime
  • harsher Premium Charges
  • top execs leaving
...and could spell the beginning of the end for us Betfair journeyfolk. That list is just too much bad stuff over a very small timeframe. So I'm just "knuckling down", trading any day I can and "grinding out a day's pay" *.

* that takes all the romance out of it, doesn't it?! ;)

The way I see it, if my Premium Charge rate is going to be hiked after £250k, then there's no harm in getting there as fast as I can while it's still a 250k threshold and not less. It's a good incentive to get the mortgage paid off sooner!

Having said that, I need to curb my losses as I'm still giving away loads more money than I should; I haven't updated the Betfair lifetime results spreadsheet for a few weeks but I just know it's loads. Today, I got upto 90 quid twice before being bashed back down again

losses easily amounted to £150+

£150 for a Saturday is pretty disappointing to me these days (but then I am quite hard on myself!). The funny thing is, I managed £150 last Saturday and Betfair was down for half of the afternoon lol !


Just going back to the data breach (that I only just found about out via Scott Ferguson's excellent blog), it's prompted me to change my Betfair password immediately in case someone logs in and tries to blow my wedge in a single go!

At the end of the day though, even though Betfair are taking a hammering in the press and on various blogs and forums, it's still the best thing around and when it works, it works brilliantly. I haven't fallen out of love with them yet, but I think that's only because I haven't been screwed over in a big way....yet!

1 comment:

  1. Betfair's not going to dissappear overnight despite all the current bad press, mets. Even when it does eventually collapse that'll be due to something else there to replace it so don't think you need to worry.

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