Get rich slowly…..

27/11/2014 | By | Reply More

I woke up to another negative gambling story the other morning: –

Fraudster swindled nearly £2million from his in-laws and friends in Ponzi-style sports betting scheme to fund his gambling addiction

I’ve almost given up trying to champion the more positive aspects of what I’ve  and others achieved over the last 14 years. Because everytime I try, something like this gets thrown into the ring. I seem to be commenting far too frequently on these sorts of things, but it’s frustrating: –

Personally, I think the stuff I’ve managed to achieve in the sports markets it’s better than anything I’ve achieved in financial markets, if not on the same scale. In fact I’ve taken ideas and concepts back into the financial markets that I’ve learnt from short term trading on sports markets. I’m not alone, I met and consulted with many Bet Angel customers over the years and there are some very clever people out there. A range of them are doing a variety of things in a number of ways and I’ve been blessed to have seen some wonderful work in these markets. But still, because it has the word gamble attached to it, nobody really recognises the achievements. If I blew a few million on financial markets I’d be ‘unlucky’, on sports markets ‘reckless’. If you make millions it’s ‘wise’ and ‘lucky’.

My efforts to legitimise our activity as a community has often been given the cold shoulder but I have had the odd success. I saw the Betfair ambassador campaign as a chance to post some decent P&L’s under Betfair’s watch and show that it really is all for real, that makes me feel a bit better. I did manage to get a small piece in the FT as well, but was less successful elsewhere: –

But unfortunately the industry just doesn’t have a good name. That isn’t helped my people calling themselves professionals and / or traders where they quite clearly are not! Ultimately I don’t think my efforts are going to change much in the scheme of things, but I’ll still plug away. I also think it’s unfortunate that Betfair’s top level has buried the concept of an exchange. Because is such a bloody brilliant idea, the mission should be to transform the WORLD of betting, not become pigeonholed as a regional sportsbook.

My quest continues though! I have come to terms with the fact that it may only be after I have finished my stint on the markets that the full story and the full opportunity may become recognised. But by then I’ll already be deep into the next opportunity. I’m a restless individual.

Tonight I’ve been invited out to meal. Quite a few people will not know who I am or what I do for a living, so I’m going to have to explain. I think I may default to ‘Porn Star’, as that often seems a simpler concept to explain and understand. Then again….

25-08-2014 - FT Feature

Category: bookmark, General

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

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