Loss Was Almost Impossible
Another look back into the past, and here are a couple of systems for all you horse racing enthusiasts. Unfortunately, it doesn't appear that either of the two was actually profitable, and the first was one that I thought I had invented myself when I was ten years old as I wrote when setting up this blog many years ago. From the "About Me" section: The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn�t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Far from inventing it, the idea (Martingale) had been around since 18th century France and probably pr...