Book Review: Gambling For Life by Harry Findlay

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Harry Findlay’s Gambling For Life is an exhilarating deep dive into the world of high-stakes betting, chronicling the triumphs and downfalls of one of the most fearless gamblers of our time. This autobiography offers readers an unfiltered look at Findlay’s journey, making it a must-read for anyone interested in sports betting, risk-taking, or larger-than-life personalities.

A Story of Highs and Lows

Findlay’s story is nothing short of riveting. Unlike many professional gamblers who focus solely on calculated, risk-averse strategies, Findlay approaches betting with an unmatched level of confidence and passion. He openly shares his biggest wins, such as his triumphs in horse racing and rugby betting, but also doesn’t shy away from detailing his devastating losses that cost him his fortune. This raw honesty makes the book not just an exciting read but also a cautionary tale about the volatility of gambling.

An Unfiltered Look into the Gambling World

One of the book’s greatest strengths is its candidness. Findlay doesn’t sugarcoat the realities of professional gambling. He discusses his strategies, experiences with betting exchanges, and run-ins with bookmakers, giving readers an inside perspective on the highs and lows of the industry. I wonder if Harry likes a go on the slots and visited wolf winner online pokies au? His ban from Betfair, which he argues was unjust, adds an extra layer of controversy that will intrigue both casual readers and industry insiders.

Findlay’s Passion for Sports

Unlike many gamblers who rely purely on statistical analysis, Findlay is deeply passionate about the sports he bets on. His love for horse racing and rugby shines through in the book, making it clear that betting is more than just a financial pursuit for him—it’s a way of life. This emotional connection makes his story compelling and sets him apart from other professional bettors who often approach gambling with a more detached mindset.

Engaging Writing Style

Findlay’s storytelling is engaging and fast-paced, much like the betting world he inhabits. His conversational tone and straightforward approach make the book accessible even to those unfamiliar with gambling. His humor, charisma, and no-nonsense attitude shine through, making the reader feel as though they are listening to him recount his adventures firsthand.

 A Lesson in Risk and Reward

At its core, Gambling For Life is about the nature of risk—how it can lead to extraordinary highs and crushing lows. Findlay’s life serves as both an inspiration and a warning. His unshakable belief in his system and his ability to bounce back from losses offer valuable insights for those willing to take risks, whether in gambling, business, or life.

Final Verdict

For those interested in the world of professional gambling, Gambling For Life is an essential read. It’s an entertaining, brutally honest, and insightful book that captures the essence of what it means to live life on the edge. Whether you admire Findlay’s fearless approach or view his story as a cautionary tale, there’s no denying that his journey is one of the most fascinating in modern betting history. Highly recommended for sports fans, risk-takers, and anyone who enjoys a compelling real-life story. 

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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:

   

Professional Gambler: Betting for a Living

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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.