Battle of the Early Betting Exchanges

These days, betting exchanges are a familiar to all gamblers. 

However, the betting landscape was transformed with the creation of a trio of betting exchanges who battled to become top dog. All this happened in the late 1990s, and the first time most gamblers new about betting exchange platforms came with Betfair and Flutter.com. 

Andrew Black, an ex-professional gambler had the brainwave of a betting exchange after working in the stock market and impressed by the US shorts markets how investors could detail a price they wanted. Black worked on the software side of the business while Edward Wray was impressed by the concept to invest money and work on the business plan. 

Around the same time Flutter.com were working on a betting exchange. It was created by two Americans, Stamford graduates who achieved $30M investment, which compared very favourable to Betfair who struggled to find venture capitalist investment having to ask for help from friend and family to the tune of £1M. 

Flutter.com displayed their odds in a fractional format, and initially, didn't have in-running betting. Whereas Betfair used decimals. Also, the former charged less commission at 2.5% while Betfair was 4 - 5%. 

In those early days, the Flutter platform was noted as having a much better interface and more robust. It was fast and far from clunky or suffered from server problems which seemed to bog down their rival. 

It was very much a race to the front with both companies vying for publicity and custom. Andrew Black detailed they had an informer called 'Tin Man' who would email them about developments about Flutter. It seemed as though the $30M investment into Flutter was running dry at a crucial time. In a make or break gamble, Betfair pushed hard with their advantage within the market and merged with Flutter. However, it wasn't really a merger, it was a buyout and the Flutter was closed down seeing the end of the service. 

From that point, Betfair had beaten the competition. 

Around 2010, Betfair was floated on the London Stock Exchange and soon would be a £1B company. In 2016, it merged with Paddy Power to form Flutter Entertainment. 

Most punters may have forgotten or ever realised of the existence of a third betting exchange at this time. It was a creation of bookmakers who were fearful of the impact of 'the machine' as it was called by many. In fact, it was founded by rails bookmaker Stephen Little, who wasn't afraid to take a bet. He used his computer coding skills to create Betmart. After some interest, the platform struggled to find investment from the bookmaking industry. As we many betting exchanges which either come and went or disappeared because the markets lacked liquidity, Betfair proved strong. 

In fact, although it impacted markedly on bookmaker profits, especially those on-course, it was used by bookmaker far and wide. In 2006, Barry Dennis, who often featured on TV, talking the talk with John McCriririck, said he used Betfair within his business model to hedge or lay bets. This was to the sum of £15M in a single year. Far from insignificant sums of money it was a beast of a platform and in those early days liquidity was healthy. 

The downside for many on-course bookmakers was that big names such as William Hill simply used Betfair rather than trade with independent bookmakers. It made no sense not too. 

There is little doubt Betfair commissions went to exorbitant levels the Premium Charge was surely to knock a lot of these accounts on the head. Unfortunately, with competition from other exchanges such as Betdaq, Matchbook and others saw liquidity suffer across the board. It is a cause of concern for all platforms. 

There have been many fears about betting exchanges with some saying they are illegal and encourage dishonesty. However, betting exchanges have added so much to betting and they won't be doing anywhere. 

You will never stop progress and thankfully Betfair wasn't one of the hundreds of companies which were lost in the dotcom bubble. 

Pro Gambler: Andrew Black Co-founder of Betfair

Do you know the name Andrew Black? 

The title kind of gives it away, the co-found of Betfair. 

For reference, his business partner is Edward Wray. Together they transformed the betting industry creating the first online betting exchange. 

Think back to the year 2000, and the whisper of Joe Public being backer and layer alike. The bookmaking industry turned upside down by a platform which poked fun at William Hill et al declaring the death of the bookmaking industry. 

The betting exchange turned into a billion-pound business when floated on the London Stock Exchange in 2010. The company was valued at 1.4bn. Black's 15% shares worth £200M. The share price would rise substantially from £13 - £44, de-listed in 2016 when purchased by Paddy Power.    

Black was worth well over half a billion pounds. 

I remember reading one of Dave Nevison's books: A Bloody Good Winner, and him saying he wished he had come up with the idea himself. 

Everything seems easy after the event. 

But, thinking about it, the betting exchange was of its time. 

It marked the biggest change in bookmaking history and there had been plenty of them over the years. 

I didn't realise Andrew Black had been a professional gambler. It seems he dropped out of Exeter University to punt his skills in the casinos and especially enjoyed horse racing. That introduction and passion for the sport of kings manifested into a betting revolution. 

I've had a Betfair account since those early years and still have one to this day. 

Black was born in 1963, the son of a property developer and grandchild of Sir Cyril Black, a Tory MP for Wimbledon. 

Strangely, his grandfather campaigned against gambling. 

Black worked in the City of London for a derivatives business, while becoming an increasingly successful gambler. He gave up working in the city to gamble full-time. However, it wasn't lucrative enough. This led to him setting up a software business. In fact, such was its success, he gained a contract for Government Communications Headquarters (GCHQ). 

In this period, Black worked every evening on the concept of a betting exchange. 

Black's love for playing bridge led him to meet his business partner and Betfair co-founder Eward Wray who was impressed with the prototype he had programmed and invested. 

An addition £1M funds were secured from family and friends, as venture capitalists declined the offer. Betfair was launched in 2000. Its success was very much down to a similar format to financial exchanges, where larger bets could be made up of smaller transactions. 

Horse racing has always been a passion for Black and in 2009 he announced his partnership with Michael Owen and Manor House Stables. Punters will remember the magnificent Brown Panther who went on to win the St Leger (2014). 

From 2007 - 2016 he has his own horse racing blog - Bert's Blog.

To this day, he is still a professional bridge player.  

Picture: JC 2025

Professional Gambler - Alan Woods

It's intriguing to consider the man behind the story. Especially when that story is about having it right off. I must apologise for my vernacular. 

You beast. 

Alan Woods. I'm sure if you have the slightest interest in professional gamblers you have heard about the Australian mathematician. Some have regarded him as the biggest gambler in the world. If he isn't, he's up there with the big boys, the likes of Bill Benter, Tony Bloom and that secret gambler. 

Alan Woods was born in 1945, New South Wales, Australia. Sadly, he passed away in 2008 at the age of 62 in Hong Kong. 

I've been writing a few articles about the man himself. Mainly inspired by a chapter in Mike Atherton's publication (2006) titled: Gambling - A Story of Triumph & Disaster by Hodder & Staughton. To be fair, the story about Woods was brief but insightful. Atherton, a top-class cricketer and a man educated at Cambridge visited Mr Woods at his office and had the opportunity of chatting to him and watching a few bets placed. 

Woods had won several hundred million from gambling. But he wasn't always a winner. In fact, like Bill Benter and Tony Bloom, they were inspired by blackjack and card counting which was a topic of great interest after Edward O Thorp published his masterpiece Beat The Dealer - A Winning Strategy for the Game of Twenty-One, published by Random House (USA) in 1966. Until this time, it was considered the casino house edge was akin to an impenetrable wall, which had a laser on the top to zap any would-be gambler who thought they could play Las Vegas at their own game. Thorp had found a way to turn the odds in the gambler's favour. 

Like any savvy gambler, Woods was interested in this new-found angle. In fact, he used it successfully to win $100,000. And, interestingly, he bumped into his old mate and adversary Bill Benter. You could make good money card counting as an individual but their was strength in working as a team. 

Anyway, there was money to be made in this professional gambler game. 

Woods wasn't just interested in blackjack but horse racing and his use of statistics and computer technology to create a software which churned the numbers and spat out winning horse tips. I'm not sure if the software had a name but it was Woods' passion and he even got Bill Benter in on the act. 

I'm not sure what the connection may have been with Honk Kong and horse racing but there was no mistake in targeting the two racecourses at Sha Tin and Happy Valley. Both basic courses and a limited number of race horses. It was a statisticians dream. You see it was all about control and limiting confounding variables. Basically, his team would put all the data into the computer and it would deliver value bets. That may be a number of selections in the same race. As long as the profits rolled in, the syndicate (or team) were happy. 

However, those early days of making the software pay wasn't going to plan. In fact, they were losing money fast. 

Shock horror. 

This is when Woods looked for investment from his Las Vegas gambling friends and foe. Amazingly, he couldn't get anyone interest even giving prospective investors 70% of the profits. 

It may have been at this stage Bill Benter put his hand in his pocket. However, it wouldn't be long before the two had a falling out.

I imagine this was enough to give Benter the same idea about building a revolutionary computer software in competition to Woods. Clearly, there was enough money for all. Although I was surprised to hear that 95% of all the massive money in the betting pool (which is a Tote system rather than bookmakers) was from rival syndicates. 

Woods said he wish he had kept his mouth shut about the computerised system as it would have been a better secret. 

However, there was mega money to be made. Both Woods, Benter and the other syndicates made hundreds of millions if not billions (Benter). 

Atherton visited the Woods office and watched the team in action. 

The room was very calm and calculated. No emotions. No high-fives. No boozing. 

Woods told of a day when they won £8M. Although he remembered the day they lost £3M. 

If there was one bet they wanted to come in it was the Triple Trio, picking the top three horses, in any order, for 3 races. 

Sadly Woods wasn't to live a long life and passes away of pancreatic cancer at the age of 62. 

Professional Gamblers: Who Is Simon Cawkwell?

I'm still thumbing my way through Mike Atherton's Gambling: A Story of Triumph & Disaster. A fascinating read, where I seem to bump into gamblers of much appeal but who I have no knowledge. It always makes for a great read when it's unexpected.

Many readers may have heard of Simon Cawkwell. 

If you haven't, then take a read and watch the video too.

Simon Cawkwell, widely known by his moniker "Evil Knievil," is a prominent British figure renowned for his activities in the financial markets, particularly in short selling, as well as his ventures in gambling. Born in October 1946 in Oxford, England, he is the son of historian George Cawkwell. Simon received his education at the Dragon School and Rugby School before training as a chartered accountant.

Financial Market Activities

Cawkwell's career in the financial markets spans several decades, during which he gained notoriety for his short-selling strategies. Short selling involves borrowing shares to sell them with the intention of repurchasing them at a lower price, thereby profiting from a decline in the stock's value. His first significant short position was in 1973 with MFI Group, where he capitalized on the company's share price collapse from 150p to 10p. Over the years, he has made substantial profits by shorting companies such as Northern Rock, Polly Peck, and Amber Day.

One of his notable contributions was exposing the fraud committed by Robert Maxwell, particularly concerning Maxwell Communication Corporation. His insights and actions in this regard highlighted his expertise in forensic accounting and his commitment to market transparency.

Gambling Ventures

Beyond the stock market, Cawkwell is an avid gambler, engaging in activities ranging from horse racing to sports betting. He has been active on betting exchanges like Betfair, where he placed wagers on various sporting events. In 2014, reports indicated that he made £150,000 in a single week through sports betting, showcasing his analytical skills and risk-taking propensity.

However, his gambling ventures have not been without challenges. In 2012, he reportedly lost £150,000 due to the collapse of the spread betting company WorldSpreads, which went into administration after a significant shortfall in clients' accounts was discovered. Additionally, he has had disputes with betting firms over the settlement of wagers, reflecting the complexities and risks inherent in gambling activities.

Public Persona and Writings

Cawkwell has authored several books sharing his insights into the financial markets and his experiences with short selling. His publications include "Profit of the Plunge: How to Win Short Selling" (1995), "Bear Essentials: The Secret of Forensic Accounting and Profitable Trading" (2003), and "Evils Good: Book of Boasts and Other Investments" (2012). These works offer readers a glimpse into his methodologies and the rationale behind his investment strategies.

Known for his candid and sometimes controversial opinions, Cawkwell has been a regular contributor to financial discussions, providing commentary on market trends and individual companies. His insights are valued for their depth of analysis and his willingness to challenge prevailing market sentiments.

Conclusion

Simon Cawkwell's career as a gambler and financial market participant underscores his analytical acumen and his readiness to engage in high-risk, high-reward ventures. His activities in short selling have had a notable impact on the companies he targeted and the broader market, while his gambling endeavors reflect a consistent application of risk assessment and strategic decision-making. Despite facing challenges and controversies, Cawkwell remains a significant figure in both the financial and gambling spheres, with a legacy characterized by boldness and a deep understanding of market dynamics.

For a more personal insight into Simon Cawkwell's perspectives on trading, investing, and gambling, you might find the following interview enlightening:

   

Mike Atherton Gambling: Interesting Read

I can't say I ever thought of Mike Atherton gambling. A great cricket player and noted sportsman. However, he must have a gambling aspect about him as back in 2006 he had a book published by Hodder & Stoughton with the title:  Mike Atherton Gambling: A Story of Triumph & Disaster. 

Intriguing. 

The first idea I had of this publication was reading Dave Nevison's No Easy Money published in 2009. Where he mentioned Atherton had visited his home for an interview and possible story for his book. 

This is quite a humorous tale in ways - seeing two sides to a story. In fact, Nevison featured in the book under the chapter: Dave Nevison: the Horse Player. Nevison, who admitted he'd had a terrible year betting had £30 at 150/1 on Betfair exchange on a horse called Ice And Fire running at Southwell. Atherton and Nevison watched the race and amazingly the rag won the race for a profit of £4,500. 

Nevison said in his book No Easy Money that Atherton must have thought he was the best gambler in the world. 

However, what Atherton didn't know was that Nevison admitted (in his book) that if the horse has lost his balance would have been zero. 

It made me smile imagining the extreme of two realities. 

I will continue to read Mike Atherton Gambling as is has a lot of stories with information I haven't seen elsewhere. I've read a chapter or two about the early days of Betfair and Andrew Black the founder of the platform, who was also a professional gambler. And an interesting chapter about bookmaker Barry Dennis. 

I will detail a few stories. 

Photo: JC 2024

Honest Book Review: Stephen Little From Bicycle To Bentley

It’s always a pleasure to dive into a new book.

While I’ve read many books about professional gamblers, I’ve come across fewer that focus on bookmakers. One I particularly enjoyed was Odds & Sods by Ron Pollard. This book detailed Pollard’s career with both Ladbrokes and William Hill, culminating in his role as the head PR man for Ladbrokes. It was a fascinating read, and I’d highly recommend it.

The latest addition to my collection is From Bicycle to Bentley by Stephen Little, published by White Owl, a new imprint from Pen & Sword Books based in Barnsley, North Yorkshire. Released on August 15, 2023, the book spans 121 pages. I purchased it from Amazon for £16.73 (including postage), a small bargain considering its listed price of £20.

The book features an attractive dust jacket and a foreword by Sir Mark Prescott, adding a touch of prestige.

Having followed horse racing for over 40 years, I recalled Stephen Little from my past impressions. I vaguely remembered him as a fair-haired chap in a fur coat, a rails bookmaker I either saw on TV or read about in The Racing Post, perhaps mentioned by John McCririck. To be honest, I hadn’t realized Little had published a book until I stumbled upon it while browsing Amazon for professional gambling titles. I immediately thought, This should be a good read. It’s always intriguing to learn from someone on the other side of the betting fence.

When I enjoy a book, I devour it like a piranha attacking a juicy steak. I finished this one in just two days.

The book is insightful from the outset, with much to admire about Stephen Little. His good character shines through, and it’s clear he is a man of his word—arguably the highest praise for a bookmaker. Despite the image of a man driving a Bentley, draped in a lavish fur coat, and taking bets with liabilities reaching up to £320,000, Little was far from being born with a silver spoon in his mouth. The son of a vicar, he defied expectations and became one of the most respected bookmakers in the country.

Little’s journey is captivating. As a young man uninterested in university—despite an interview at Cambridge—he spent his gap year cycling to racecourses across the UK. Often traveling over 100 miles a day and staying at hostels, he pursued his dream of becoming a bookmaker with unwavering determination.

His early career was far from easy. He began at coursing events and gradually built his reputation, meeting notable figures like Sir Mark Prescott, Harry Findlay, and John McCrirrick along the way. Before McCrirrick became a Channel 4 personality, Little would even give him rides to remote racecourses. These formative years laid the groundwork for his rise as one of the country’s most renowned rails bookmakers.

The book offers a wealth of anecdotes and insights. Little's reputation grew as a fearless bookmaker willing to take substantial bets, often hedging heavily to balance risk. He was pragmatic, basing his books on odds rather than personal opinion—a strategy that set him apart from many peers who overestimated their judgment, often to their detriment.

What stands out is Little’s tireless work ethic. He frequently attended two race meetings in a day to maximize opportunities. From taking bets from legendary punters like J.P. McManus to sparring with Patrick Veitch and challenging the betting intelligence of Phil Bull, his career was a whirlwind of action and resilience.

Interestingly, Little also relied on gambling to sustain himself during tough times. Like Alex Bird, he bet on photo finishes to make ends meet. His persistence eventually enabled him to acquire coveted bookmaker pitches on the rails, though this required immense patience, as many were passed down within families.

The book also touches on the challenges of the industry, including declining on-course betting. Little was instrumental in launching a bookmaker-funded betting exchange to rival Betfair, but the venture ultimately failed due to a lack of support. He eventually sold his pitches to the Tote after the restrictions they imposed made continuing untenable.

In conclusion, From Bicycle to Bentley is a captivating read filled with gems of wisdom and fascinating anecdotes. Little’s story is one of grit, determination, and passion for his craft. His journey from cycling to racecourses to driving a Bentley is nothing short of remarkable.

I highly recommend this book to anyone who loves a bet or enjoys the behind-the-scenes stories of bookmakers and racing legends. Stephen Little’s legacy is one of fearless ambition and integrity—a fitting tribute to a life well-lived in the world of betting.

Photo: JC 2024 (All Rights Reserved)

Terry Ramsden - Professional Gambling Book

I'm sure that title got you here like a man possessed. 

Terry Ramsden - professional gambler book. If only that was true. Over the years, we have seen a number of quality professional gambler books released. I can't help think that most do it in a desperate act to cash in some chips after life turned ugly. There are others who have released a book out of vanity. Not to say we can't learn something from every professional gambler story. 

I've read a number of publications by the following:

Dave Nevison

Harry Findaly

Patrick Veitch 

Alex Bird 

Nick Mordin (and yes to you know it alls, he did have a time as a professional gambler) 

I'm sure there are others but I can't remember them off the top of my head. To be fair, I enjoyed each book(s) for different reasons. I think every professional gambler has strength and weakness (as we all do in every aspect of life). But as they say conflict makes for a good read. 

Terry Ramsden is a man most punters remember. Back in the days of Thatcher, he was the Essex man made good with his company Glen International and his buying and selling of Japanese bonds. He was someone we all admired. The man with the mullet hairstyle and a wallet that saw no bounds. Money was no problem until one day it was and he was on the slippery slope to bankruptcy and spent time in prison. 

I always liked Terry Ramsden. 

I still admire him to this day. I used to rile people up by saying he was a professional gambler. They would come back with some stupid retort saying he wasn't. 

What was he doing all those years buying and selling bonds for tens of millions? 

No, that's right, he wasn't a professional gambler!

When he was winning money gambling he was a professional and when he lost it was a hobby. Yes, of course it was. 

I'm sure a few readers have found that old fuzzy episode on Youtube published by Knobhead 10, originally on TV somewhere called Jackpot. This series seemed to follow a few professional gamblers including Harry Findlay and UK poker legend Dave 'Devilfish' Ulliott.  

It's a fascinating documentary about Ramsden catching up with him after his release from prison and residing in the USA. 

Take a look and see for yourself 

I must have watched this ten times and still enjoy it. That classic song intro Broken Land by the Adventures at (5:30) details a masterful production. That is worth a listen if nothing else. It's a well worked production and it is about the most real thing you will see about Mr Ramsden. It is an honest piece of work. 

He was good enough to follow up in later years with Star Sports videos (3 of them, I think) #BettingPeople Interview. 

If there's one book all sports gambling readers would buy it's Terry Ramsden's. It would detail stories and bets that would make even Harry Findlay look small fry. It would be a best seller and we would all be thinking that is mad. 

We've all heard about the big bets he did but what about the ones he kept close to his chest? The people he was connected with? The great and the good of racing. We all wanted to be Terry Ramsden. I'd have grown a mullet if it helped.  

I guess Terry is on a better financial footing these days. He was never going to be someone short of a few quid. 

Just a note for Terry... 

Get that book written. I'm one of about a million punters who would put their hand in their pocket and have the read of a lifetime. 

Good luck to you. 

New Book Review: Stephen Little From Bicycle to Bentley

You might be asking, "Who is Stephen Little?"

Readers of Professional Gamblers will know that I often enjoy a good book review. In fact, I've made it a point to read a number of books on professional gamblers. I'm not just an avid reader of the gamblers themselves, but also of the industry’s many layers and the people connected to it. That's why I'm interested in learning more about Stephen Little, the bookmaker. By all accounts, he made a name for himself as someone willing to take substantial bets, which stands in stark contrast to the online bookmakers of today who often limit your account to just £1 per each-way bet because they fear you might win a few pounds.

As of now, I haven’t received the book yet, but I'm looking to buy a second-hand hardback edition, since the content will be the same, of course.

I like to get my money's worth, which is why I’m planning to write a post about the book, which I believe was published in 2023.

While I had heard of Stephen Little, the bookmaker, I didn't know much about his personal story. The title of the book, From Bicycle to Bentley, suggests that he might have gone from humble beginnings to great success—an intriguing premise. After all, it's never a bad starting point to go from two wheels to four.

The title also brings to mind the saying, "You never see a farmer on a bike."

I’m likely to purchase the book from Amazon, as used copies often offer a great deal. The description says “As new,” so it should be in good condition. The retail price is £20, but one copy is available for £11.49, offering a 43% discount. If I order it between November 28th and 29th, I can get free delivery, which is a bonus. So, as you might have guessed, a couple of days after the book arrives, I'll be writing posts about Mr. Little and his bookmaking career. I also noticed that the foreword is written by none other than Sir Mark Prescott.

This got me wondering: Did Sir Mark Prescott ever place a bet with Stephen Little? I imagine it would have been a decent each-way wager—and perhaps even a winning one.

I’m looking forward to diving into what I’m sure will be an insightful read. Sometimes, you just get a feeling about these things.

I’ll be updating the Professional Gambler blog soon with my first post about Stephen Little, and I may even write about the dust jacket, as it looks interesting in its own right.

Here’s to a good book!

Best Strategies for Betting on College Football

Betting on college football can be both exciting and rewarding. However, it often requires a strategic approach to boost your chances of winning.

Whether you're a seasoned bettor or a newcomer, understanding the game and the betting landscape is crucial.

This guide will explore some of the best strategies to help you make informed decisions and enjoy the thrill of college football betting.

Understanding College Football Betting Basics

Before you start betting on college football, it's important to learn the basics first.

Get familiar with different types of bets, like money line, point spread, and over/under.

Knowing these can make the betting experience more enjoyable and less confusing.

Essential terms such as 'covering the spread' or 'parlay' are also crucial to know. This foundation helps you stay informed and make smarter bets.

So, start by learning the lingo and what each bet means. It’s the best way to begin your college football betting adventure!

Analyzing Team and Player Statistics

Understanding team and player statistics is a game-changer in college football betting. By looking at details like team wins, losses, scoring averages, and key player performances, you can make smarter bets. You don’t have to be a math whiz—just focus on the stats that matter most to upcoming games.

You can easily analyze these stats on platforms like FanDuel sportsbook, which offer insights and data at your fingertips. These online sportsbooks make it simple to compare teams and see how individual players are performing throughout the season.

Understanding these statistics helps you predict potential outcomes and places you one step ahead in your betting journey. Take advantage of available resources to deepen your insights and improve your betting strategy.

Evaluating Betting Odds and Lines

Knowing how to read and evaluate betting odds and lines is key to college football betting success. Odds tell you how likely an event is and how much you can win.

They come in different formats like American, decimal, and fractional, so pick the one that makes the most sense to you. Comparing odds across various platforms can reveal valuable bets. For instance, FanDuel sportsbook odds often provide insights into game potential.

By understanding the odds, you can spot opportunities and make more confident betting choices. Keep things simple: find the best odds for your bets and watch your wins grow.

Staying Updated on Team News and Injuries

Keeping tabs on team news and player injuries is essential for smart college football betting. Even minor injuries can impact a player's performance and, in turn, the entire game.

Check reliable sports news websites and follow college football analysts on social media for the latest updates.

Often, last-minute changes can give you the upper hand, helping you make better betting choices.

By staying informed about who's fit to play and who's sitting out, you improve your chances of making winning bets. Remember, knowledge is power when it comes to betting success!

Using Past Betting Data to Boost Your Strategy

Diving into historical betting data is like finding a treasure chest of insights for your college football betting. By looking at past trends and results, you can spot patterns that might hint at future outcomes. It's kind of like being a detective—searching for clues that help you make smarter bets.

Think of it like this: if a team has a streak of winning against certain rivals, that’s a golden nugget of info you can use. Compare what happened in previous seasons and see if the same conditions apply now.

This approach gives you a leg up, as you're not just betting on a whim but with a plan. Use these insights to tweak your strategy and make better-informed picks. It's all about learning from the past to make your future bets shine!

Managing Your Bankroll Effectively

Keeping a grip on your finances is key to thriving in the world of college football betting. Set a clear budget for how much you're willing to risk and stick to it—think of it as your safety net.

Only bet what you can afford to lose, so your setbacks don't hit too hard. It’s smart to spread out your bets rather than putting all your eggs in one basket.

This way, even if some bets don’t pan out, you won’t feel the loss as much. By managing your bankroll wisely, you can enjoy the excitement of the game without unnecessary stress.

Leveraging Expert Advice and Insights

Getting insights from seasoned analysts can give your college football betting strategy a major boost.

Experts share their predictions based on years of experience—things like which teams are hot or which players are set to shine. Think of it as having a sneak peek into the future of the game.

Consider following trusted sports analysts or subscribing to betting blogs for some handy tips. This advice helps you see the game from a new angle and make smarter bets.

Remember, combining your knowledge with expert guidance can lead to more successful outcomes.

Photo: Source

Professional Gamblers: The Real Harry Findlay

Right or wrong, we all carry our own perceptions of others. As the eccentric Dan Pena likes to shout, “Perception is reality.” And maybe it is. If it’s all you know, it becomes your truth.

I remember once spotting a Frenchman cycling along, a beret perched on his head, onions draped around his neck like a character straight from a postcard. Without thinking, I yelled, “Ooh la la!” It was pure cliché, but isn’t that how we often see things—a stereotype that feels so familiar, it barely needs a second glance?

Take Harry Findlay, for instance, the man behind Gambling for Life. To me, he was a brash, odds-on punter—a loud-mouthed gambler charging through life. That was my impression, though I never said it was fair or accurate. Just my perception, shaped by the media, which often paints people in broad strokes, like a caricature in a tabloid. The kind of portrait they dig up for anyone who’s done wrong—a mugshot chosen to look as unhinged as possible. For years, I accepted that image of Harry without question, almost as if he himself were shouting “Levels you devils!” in my ear.

Then, I met someone who actually knew him, someone who shared a different story. They described Harry as a warm-hearted, generous soul, a man who’d help you place a bet, who genuinely cared about people. Suddenly, my perception shifted. Reading Gambling for Life, I found myself warming to him. The book peeled away the media’s shallow sound bites, revealing a man far more complex and real.

The racing media often churns out these clichés, and maybe people play into them. It’s like Rustie Lee on TV—she can’t seem to bake a cake without laughing every ten seconds, as if that’s what people expect. We get the same formula over and over—the Frenchman with his onions, the loud gambler, the TV chef’s infectious laugh.

In the end, maybe the best wisdom is, “Take people as you find them.” We’re all layered, complex, and often more than what the world sees or assumes. The celebrity image is often a crafted persona—one that’s shaped by the roles they play for us, or maybe by the expectations they feel obliged to meet. But beyond all that, we are a spectrum, a blend of light and shadow.

Perception is simply the mind’s way of making sense of things, a mirror of our own beliefs and biases. All we can do is meet each person with open eyes and take them as we find them. Until then, we’re left with only our perceptions

A Day in the Life of a Jockey: From Dawn to Dusk

A jockey's daily routine is demanding, structured, and finely tuned to ensure they are in peak physical and mental condition for races. Balancing early starts, strict diets, training, and racing commitments, jockeys are among the fittest athletes in the world. Here’s a look at a typical day in the life of a jockey, covering everything from riding out at dawn to receiving final instructions from the horse trainer before a race.

Early Morning: Riding Out:

The day begins early for most jockeys, often before sunrise. Many head to the stables to ride out several horses in morning gallops. These sessions allow jockeys to familiarize themselves with the horses they may be riding in upcoming races. Each horse has its unique style, temperament, and rhythm, and it’s important for jockeys to understand how to get the best out of them. Riding out also helps jockeys stay in top condition, as it serves as both exercise and skill refinement.

Diet and Weight Management:

Managing weight is a constant part of a jockey's life, and their diet plays a crucial role. Many jockeys follow strict low-calorie, low-fat diets to maintain their racing weight, which can be as low as 50 kg (110 lbs) for some. Breakfast is often light—sometimes just fruit, a protein shake, or nothing at all, depending on how close they are to their riding weight. Dehydration techniques, like minimal water intake or sweating in a sauna, are also commonly used to shed last-minute pounds before a race.

Late Morning to Early Afternoon: Sauna Sessions:

The battle to maintain racing weight doesn’t end with food. Jockeys regularly use saunas to sweat off excess weight, often before heading to the races. This is a crucial part of the routine, especially for those who need to lose a few extra pounds quickly. Most racecourses have sauna facilities, and jockeys may spend several minutes here, ensuring they hit the scales at the required weight.

Afternoon: At the Races:

Once at the racecourse, the jockey’s day becomes even more intense. After weighing in, they meet with horse trainers to receive instructions. The trainer will discuss the horse's characteristics, strategy for the race, and any important tactics—such as whether to hold back and make a late charge, or go for the lead early. This briefing is vital, as jockeys need to know exactly how to approach the race based on the horse’s strengths and the competition they’re up against.

Race Time:

As race time approaches, a jockey's adrenaline kicks in. Dressed in their racing silks, they mount their horse in the parade ring and begin mentally preparing for the race. Concentration is key, as split-second decisions during the race can make all the difference. The start, pace, positioning, and timing of their final push must all align for a successful race.

Post-Race Routine:

After the race, jockeys must weigh in again to ensure they carried the correct weight during the race. Win or lose, they debrief with the trainer and owner, discussing how the race went and offering feedback on the horse’s performance. If there are more races that day, the jockey will then prepare for the next ride, repeating much of the process.

Evening: Rest and Recovery:

After a long day at the stables or the racecourse, rest is essential. Some jockeys will engage in light stretching or even yoga to unwind and maintain flexibility. Many also use this time to reflect on the day’s performance, watching replays of races to analyze their strategy and identify areas for improvement.

In short, a jockey’s routine is a blend of physical exertion, careful preparation, and mental focus, all geared toward maximizing performance on the track. With no room for error, every detail of their day is planned and executed with precision.

Photo: JC 

Professional Gambler: The Significance of Horse Ownership

If you are trying to find an angle when it comes to betting horses, you can go a long way to finding winners by simply understanding horse owners. Horse ownership ranges from the smallest, cheapest, syndicates to high-profile outfits. If there is one thing I would say about horse ownership it is to assess their set up. By that I mean the quality of horse can vary from one extreme to the other. From being very poor quality (the owners race whatever they have) or those who are very selective in the sense that they aren't interested in a horse getting to the course unless they are convinced it is a winner waiting to happen. Obviously, there are no guarantees. You get the classic morning glory who looks like a potential group horse but fails to shine on course. But I wouldn't worry about the odd disappointment. Horse racing is a mix of hope and disappointment with the odd lightning bolt of stardom. The trials and tribulations of horse ownership makes for an interesting read. 

I always remember back in the day Ian Matthews who used to have horse with trainer R.J Williams (yes, it is going back a lot of years) but I could guarantee every two-year-old they had in training would most likely win on its first or second start. And being with a less fashionable trainer (and relatively unknown owner) they would often go in at a price. They were like clock work. But this tells an important story. Most success is actually based on planning and intention. If someone doesn't pay attention the chances are they won't have a steady stream of winners. That is as true for owners, trainer and punters. 

Clearly, it makes sense to latch onto these quality owners who don't do things by half. They have horses in training and to a decent extent know they will be tasting victory. Who would you rather bet someone who have one winner in one hundred or an outfit that have winners galore?

It is fair to say that a lot of these significant owners have plenty of cash to spend or they have invested heavily into their operations. 

This year's most success two-year-olds owners have been seen as real power houses. The likes of Valmont, Wathnan Racing & staples such as A E Oppenheimer. They feature stats which few compare. I know what you are saying: 'These owners have an average purchase of £300,000+.' 

But the whole point about ownership is digging a little deeper to unearth owners who feature such high standards but few notice. In many ways, punters would be better off following a handful of owners rather than following a similar profile of trainers. Owners often have their purchases across a number of trainers. 

If you notice a given owner hardly ever has a bad horse then you should take note. You just never know how they work and their intentions. Few owners say how their operations work. It is their business and they aren't training their horses for you. But you can learn how they work and keep note of your findings. 

The fortunes of many horse trainers are dependent on the quality of horse via ownership. Trainers are important but without the firepower of quality horses they are at the mercy of the owner's opinion. You only have to follow the highs and lows of trainers who are patronised by Amo Racing to understand how it matters. 

If you look at individual horse owner stats you will see what I am talking about. It is often the case for a horse owner to have a 50% place rate with all runners. Very few trainers will come close to that. And to be fair, that is nothing to the select list of owners who I follow with interest. They aren't all the big names with big money. Some people are very good at what they do and they get the most out of every purchase. They set a level which details a horse won't set hoof on horse unless they think it is a winner. 

That's the kind of standard and quality we are looking for. 

I would suggest you follow your favourite owner rather than favourite trainer. 

It may prove to be a winning move. 

What A Week! Royal Ascot Through The Eyes Of Wathnan Racing   

Professional Gambler: Betting On Course

Back in the day, horse was literally King. 

Hundreds of thousands heading to the Epsom Derby or Grand National to witness a sporting spectacular. Those days punters loved their racing. They weren't afraid to have a bet and strangely or not you didn't hear one word about gambling addicts. No doubt they existed but those foe probably had slightly stiffer spines. 

Yes, it sounds like I have it in for people who bet and lose. I have compassion to a point. Addiction can't be any fun. However, I very much doubt you would hear one gambler complain if they were making good money. We can't have it every way. Perhaps, I'm missing the point. I do find the bookmaker chains irritating. Restricted accounts. They don't even close your accounts anymore because they know being allowed to bet 50p each-way won't see many professional gamblers returning. Interesting, I can bet as much money as I want on the slots. No wonder professional gambler are returning to the track to place their bets. 

Something tells me whatever the gambling commission or government do - sticking their nose into other people's business - there will always be a bookmaker on course who is willing to take my bet. Thank the Lord. I never thought I'd see the day I was patting the enemy on the back as though I give a *uck.  

I often visit Great Yarmouth racecourse and there are plenty of bookies who will take a bet. 

You may be asking why go to the course?

The betting exchanges (until the late markets) are verging on pointless. With so many exchanges all looking for their piece of the pie the markets have been diluted to the point of absurdity. The original Betfair markets were strong because there wasn't all and sundry plying their trade. It's a shame all can't be joined together because it would be a revelation.

So punter are heading back to the course. 

I don't blame them. Perhaps it will be one way the racecourses return to some aspect of popularity. However, the likes of Arc need to put the price of day's racing back to a figure which makes sense. 

I've had a few professional gamblers ask if I could place bets for them when I'm at the course. It is all turning into that direction. Is it too much to ask for someone to take a bet? Multi-million-pound companies scared to take £50 on a horse. Turf accountants turned to accountants who use every aspect of gambling reformation to do their dirty work. 

What a world we live in. 

Everyone is terrified of everyone. 

In truth, there is nothing to be frightened of - it's your own shadow. 

Get to the course and place that bet. You have a decent chance compared with the online brigade. 

What a insult to bookmaking. 

Author: JC

Professional Gambler: Betting for a Living

Image by freepik

The concept of becoming a professional gambler sounds alluring. The idea of making a living from betting, without the confines of a traditional job, is a dream for many. However, behind the glitz and glamour, it’s a high-stakes world filled with hard work, research, discipline, and often, a rollercoaster of emotions. For those willing to embrace the risks and intricacies, betting for a living is possible, but it's not for the faint of heart. 

The Reality of Betting for a Living:

The life of a professional gambler is not just about throwing money on a bet and waiting for fortune to smile. Success in gambling, particularly in sports betting, poker, or horse racing, comes down to knowledge, mathematics, and strategy. Professional gamblers approach betting like a business, carefully analyzing probabilities, statistics, and odds to make informed decisions.

Luck plays a role, but over the long run, skill outweighs chance. The difference between an amateur and a pro is that pros consistently make bets with positive expected value (EV). These are bets where the odds of winning are higher than what the market or bookmaker suggests.

Managing the Bankroll:

One of the most important aspects of betting for a living is managing the bankroll. Professional gamblers have strict financial discipline. Every bet is meticulously calculated, and they only wager a small percentage of their bankroll on any given bet—often between 1% to 5%. This method allows them to survive losing streaks, which are inevitable, and maintain a steady growth of their funds over time. Without this discipline, even the best gamblers would risk going broke.

Specialization is Key:

Professional gamblers rarely bet on everything. Instead, they find a niche. Some may focus on horse racing, while others might master poker, sports betting, or even specialized markets like tennis or golf. Specialization allows them to know every detail about their niche, giving them an edge over casual bettors. For instance, a pro horse racing bettor would know the trainers, the horses' forms, weather conditions, and even how different racetracks affect performance. This information, combined with the right betting strategy, enables them to spot value bets the general public might miss.

Emotion Control:

An often overlooked but crucial skill for professional gamblers is emotional control. Betting for a living requires the ability to detach from emotions—whether after a big win or a crushing loss. Chasing losses or becoming overconfident after a streak of wins is one of the fastest ways to lose everything. Pros stick to their strategies and treat gambling like a marathon, not a sprint. Their focus is on long-term profitability, not short-term thrills. 

The Downsides of the Profession:

While betting for a living can offer freedom and the potential for significant earnings, it’s not all glamorous. The financial uncertainty, the stress of relying on winnings to pay bills, and the constant mental pressure can take a toll. Many professional gamblers spend long hours researching, watching games, and studying odds. It's a far cry from the casual betting most people imagine.

Moreover, there’s a social element to consider. Gambling professionally is a solitary pursuit. The highs and lows are often faced alone, and the unpredictability of income can make it hard to plan for the future.

Conclusion:

Betting for a living is not just about picking winners; it’s about hard work, strategy, discipline, and patience. Professional gamblers treat betting like a business, constantly learning and refining their craft. While it offers freedom and excitement, it also requires a level of skill and emotional control that goes far beyond casual betting. For those with the right mindset and abilities, it can be a rewarding profession—but it’s certainly not easy.

Professional Gambler: Betting Odds On

'Money without work!' 

That's what one bookmaker said as Great Yarmouth racecourse. Plenty of people said: 'Buying money!' It has to be betting odds on. My uncle was the classic favourites man but I'm sure even he drew the line at levels you devils. But how should we consider betting odds on or is it a great idea or the worst idea a gambler could ever take?

As with all aspects of gambling, there isn't a simple answer or one size fits all.

I'm sure you know a few gamblers who love to bet odds against. For most mere mortals there is little point betting £50 to win £20. So should we leave it to the big gamblers. Harry Findlay made a gambling career out of betting odds on. He was convinced the 1/4f should have been 1/10f. If so, then he had the value to make a profit. Considering at times he had millions of pounds in his Betfair accounts, he may have been onto something. I always branded him a big mouth but I did warm to him after reading his publication: Gambling for Life, written by Neil Harman. Findlay has done it all: won and lost. So it is interesting to consider the words of the odds on backer. Clearly, he didn't dedicate himself to this alone and would bet on two flies crawling up a wall if he noticed one had a leg missing. The edge was eroded to the point the odds on shots didn't feature any value at all. 

As Dave Nevison said: 'No easy money!'

Clearly each odds on favourite should be assessed on its own merits. You can make money and you lose money. 

I knew a couple of school friends who thought being a professional gambler was simply betting odds meant you just collected your winnings. That easy £500 to win £200. As you can imagine, it didn't last very long and they soon lost their cash. Betting odds on or against is related to skill and finding value. If you don't you will lose. 

Personally, I don't bet odds on. In the past I have done (only to small money) and I soon gave it up as a bad job. Within my niche of two-year-old horse racing, I feel confident I could pick between the lines but when you consider you need a 50% strike rate to be level betting a even money let alone odds on you have to question where is the profit coming from and how much cash will you be betting. 

For me, it's about making a decision. Do you wish to bet odds on or not. For me it's a no bet. I feel I can find better value at bigger odds and although I respect an odds on opponent I don't fear them. Let them prove the point and win, if good enough. Often they aren't and the odds of those in opposition are turned into value. 

Fearing an odds on horse can be a mistake especially if it means you don't bet against them. Often you hear punters say those exact words and they feel annoyed when the odds on fails and the selection wins at big odds. If you have no interest in betting odds on do not let it put you off betting on a fancy. 

I've seen it happen so many times and to myself.

Odds on shot can be the best and worst bets. 

Just like any. 

But the decision is yours.

Professional Gambler: Understanding Horse Trainers

Horse Trainers really do come in every shape and size. From the one-man band who breeds, trains and rides their horse to the giant stables who literally train hundreds of horses. My niche is two-year-old horse racing. It's a subject I have followed for 30+ years. In fact, it is my chosen subject if I was ever to go on Mastermind! 

I'd be good on my chosen subject and fail miserably on the general knowledge. 

I guess we all have our favourite horse trainers. To be fair I have favourites who are both big and small stables. Part of your gambling success is to understanding horse trainers. This is most likely data driven. Using the Racing Post you are able to look at any horse trainer data for many aspect such a jockey, course, distance and many others. It is enough to help you find a few gems of knowledge. In this modern era there is very little information which isn't available. It's a far cry from the old days of horse racing when you couldn't even watch live horse racing and you had to listen to a Tannoy (radio system). If you had the information at hand these days and went back in time you'd be viewed as the font of all wisdom. Akin to an alien life-form who simply knows 'everything'. 

What I'm saying is use the information at hand. Why? Because most punters are so lazy they just don't bother. They just can't be asked to dig a little deeper. I'm not saying every punter is the same as some go the extra mile or a real anorak. Who do you think is going to be the most successful?

Two-year-old horse trainers really do go from those who are consistent and dependable to those who simply cannot train a winner and unlikely to ever do so. I do say: 'If anyone trains long enough they will get a good horse!' That has proven to be the case for those who have been banging their head against a wall for decades. 

A lot of smaller horse trainers can win races. Some can and some can't. It shouldn't take too much time to appreciate the wheat from the chaff. 

If you find a small trainer who gets a decent horse (usually from a noted owner) they can make very good bets. Often slipping under the radar at big odds. While a few horse trainers simply don't appeal at all. 

To be fair, some of the larger horse trainers don't give me confidence. I don't really like to point them out but they shouldn't be afraid of their results or strike rate. I do have something of a hatred for Tim Easterby's two-year-olds on debut and there after. Although 50% of all his debut winners won in the month of April. I had someone ask: 'Should I bet on all his debutantes in April?' No. 

I like new horse trainers as they can often go very well. Keep an eye on their results. If they show promise take a closer look. You will often find they have a decent owner who has money to spend. Some owners are very selective giving the impression they don't keep horses in training unless they think they are up to winning a race. For example, Warren Greatex has done well this two-year-old season with owners Jim & Claire Limited. As the trainer said: 'Most of their horses improve a lot for the debut run.' It isn't a surprise to consider betting on them second start. 

There are literally 200+ two-year-old horse trainers. 

A number of power houses. You know who I am talking about. But this doesn't mean you should rest on their laurels (or yours). Because over time the standard of horse trainers can go in two directions: up or down (most, to be fair, will remain the same and predictable which is good news for you). It is crucial you know if a horse trainer is on the decline. For example, John Gosden's juveniles have been slightly lesser standard over the last two years. It may be a blip but when bookmakers are pricing them as stronger contenders than they may be you need to know (whether backer or layer). Similarly, James Tate has much fewer juveniles in his stable than previous years. It is worth knowing how these things work because they have implications. 

The best way to understand a horse trainer is to follow them closely. Know how they think. Most trainers are creatures of habit. They train a certain horse, a certain way. They are very predictable and the data proves this point. 

Sure, as I said, some get better and some get worse. This is progressive. But you should know what is happening. 

Perhaps you don't have enough time to follow every two-year-old horse trainer. It is a lot of work to know all their runners. Personally, I update each juveniles for every two-year-old trainer so I can see how they fare each and every year. In fact, I use this data to dig deeper and learn things that most punters have no understanding. 

You don't want to know the same stuff as 99% of the population? Dig a little deeper and you will know more than the 99% and be the man who sits on the top of the hill in the 1% club. 

It is quite amazing how little most people know about a horse trainer. For example, some have a favourite track. They simple don't send a two-year-old horse to the track without fancying it to go well. The other side of the coin, some have sent 100+ horses to a given course and never had a winner. 

Anyway, you can see from this basic article that you need to understand horse trainers. Naturally, you want to know more and follow your passion. To be a successful gambler you don't need to be the best punter on Earth. The point is simple, you just need to be a little better than most. 

Good luck. 

What Happened to Nick Mordin?

I received an email a long time ago asking this very question. 

Sadly, my reply was: ''I have no idea.''

The reason why I was contacted is because my twin brother, Tony, run a study regarding the significance of pattern-race entries within two-year-old horse racing. 

In fact, the data was pieced together into a story by Mordin for his popular Systems, detailed in the Weekender publication. 

The article was titled: In a Class of their Own: How to Spot & Back Potential Top-Notch Two-year-olds. I can't remember the date of the publication, but it must have been a long time ago. [I found a link to the article on High Class Equine dated 14th, May 1994].  

This research was groundbreaking and it was the first study of its kind in the world. 

In fact, I have had many people remark about its publication years later and still holds a lot of interest and clout to this day. 

My brother and I still use this information and we detail some aspects for free via our Group Horse Subscription + Easy Professional Gambler Mailing Series. (100% Free).

Nick Mordin is a man who was much respected in the racing world finding angles and writing a number of publications to help readers get ahead of the game. 

Betting for a Living (1992)

The Winning Look (1994)

Mordin on Time (1996) 

Winning Without Thinking (2002)

All were very well received and I have a couple in my personal collection. 

I notice a few threads on Betfair Community musing about his work. 

I do believe Mordin went to live in the United States although I couldn't confirm this as fact or fiction.  

Many punters will remember he was criticised by Harry Findlay about the chances of Denman winning the Gold Cup. At least, I think that's what it was about as the old grey matter isn't quite what it used to be. 

Anyway, wherever you are, Nick, I hope life is treating you well and my brother often mentions the phone conversation he had with you back in the day. 

All good stuff.

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