From 1996 to date I have treated my betting activities seriously by devising and then adhering to my ten golden rules - in particular meticulously recording every bet placed. The profitability of my strategies very much depended on having a wide range of bookmaker prices to choose from. After all betting is all about getting the best price available. However during 2011 most of my internet bookmaker accounts have effectively been closed. (Bookmakers restrict one's bets to £1 or £2 rather than actually close accounts to minimize bad publicity). Therefore I have decided to retire from serious betting (during 2012) and enjoy the fruits of my 16 years' trading! In the near future my betting will purely be recreational with small racecourse wagers making up the majority of bets. It was very profitable while it lasted!

 

Comments on punters' profitability

 

How many punters make a profit? Very few I believe. Certainly less than 5% of all people who bet and probably nearer 1 or 2%. 

 

In terms of "professional" punters, the legendary punter Patrick Veitch won over 16% on turnover during his professional phase. In contrast Alex Bird won less than 2% and obviously struggled to make a profit when 4% tax was introduced. Harry Findlay, who I regard as a gambler rather than an investor, says no-one can win more than 8%. His winning percentage would be low I suspect as he concentrates on short-priced favourites.  During my "serious" 16-year phase I achieved accumulative profit in excess of 10% of turnover, so we'll have to disagree on that 8% Harry!

 

I started my betting blog in December 2009 (now available at mikequigley.blogspot.com ) which will certainly continue through into 2012. I will not publish a bet unless the odds are still available at the time of publishing. Because of all the betting restrictions imposed advertised bets during 2012 will be much less frequent as value has dried up.

 

A full list of bets published is available here.... Blog bets: 2009/10  2011  2012

 

We had quite a remarkable run in 2010 as far as the blog was concerned with 84.3% profit on all settled bets advised. 

 

2011 has turned out well though with 15.36% profit for the calendar year. Remember past results are not a guarantee of future profits.