Thread: Betting pool Idea - Sports - Read on and decide

Hello All,

Since holidays are upon us and in the spirit of helping others I decided to conduct a little research to find out if people are interested in creating a betting pool. The idea behind this is my simple strategy for making profits (not extraordinary profits) by doing some research into teams and deciding what teams to back during their games.

Please understand from the beginning that this is NOT A RISK FREE OPPORTUNITY. If you are looking for risk-free betting then I suggest looking into arbitrage betting although I am not a big fan of the companies currently around. The pool I am creating will have some risk so depending on your preferences you might end up losing your initial investment. Plain and simple. YOU MIGHT END UP LOSING YOUR MONEY IF I BACK THE WRONG TEAMS. Of course I will also lose my money at the same time but that is a risk I am willing to take since I am not betting large amounts. After saying that, let’s continue to my idea.

This will be a small scale operation to get an idea of the logistics and the complexity of the deposit/withdraw system. I am talking about 10-15 people each able to put in the pool a maximum of $100 to keep the risks minimum. There will not be a website as I find them a waste of time. Instead there will be communication through a newsletter to the members and also individual emails. Method of deposit/withdraw will be Neteller since I am currently using it and I am satisfied with them. Deposits to Neteller can be instant using credit card or bank transfer (take 2-5 days). Then transfers from a Neteller account to another are also instant. Withdraws can be made by bank transfer (take few days) or by using their debit card (takes up to one day).

Moving on to the interesting part. There will not be a fixed profit % as the returns will vary depending on the risk we take and the number of teams I support every week. Also the number of bets taken every week can vary (from 1-2 bets per week to 0 bets). On average I will say the return on a single bet will vary between 20%-60%, keep in mind the higher the return the more risk involved. So make the calculations and you will see that for a middle term investment, it can be very lucrative. You will also be able to withdraw your initial investment after it has been used twice in the pool. Profits can be compounded or they can be withdrawn. After every bet an email will be sent to the members informing them of returns and risk taken. Then the members will be able to decide if they want to withdraw or compound the earnings. Again, please keep in mind THAT THERE IS RISK INVOLVED AND THAT A BET MIGHT GO WRONG RESULTING IN CLOSURE OF THE POOL since no capital will be available to continue assuming all capital was invested in that particular bet.

What’s in it for me? Commission from the profits. 20% I think is fare considering the high returns feasible and also the risk that you take since you are putting the capital that can be potentially lost.

FOR NOW I AM ONLY COLLECTING INTEREST IN THIS PROJECT AND HAVE NOT DECIDED TO GO FORWARD WITH IT OR NOT. PLEASE SEND ME A PM STATING YOUR INTEREST AND AMOUNT OF MONEY WILLING TO INVEST (up to $100). THANK YOU AND HAPPY HOLIDAYS TO ALL. TO OUR SUCCESS.

Bump...

Interested!
berlina

Well, idea is not bad but realisation could be the problem.

I have some questions for you:

1. What sports you will bet on?
2. Are you going to bet with 100% of pool or some percentage of the pool?

I had similar idea with soccer bets but I gave up because it took me a lot of time to collect infos about teams, analyse info... Problem is time. You have to have a lot of time for this and you need to be knowledgeable about sport(s) you are betting on. I am good with soccer because it is very popular in my country and almost all men play soccer

Originally Posted by kingtvrtko

Well, idea is not bad but realisation could be the problem.

I have some questions for you:

1. What sports you will bet on?
2. Are you going to bet with 100% of pool or some percentage of the pool?

I had similar idea with soccer bets but I gave up because it took me a lot of time to collect infos about teams, analyse info... Problem is time. You have to have a lot of time for this and you need to be knowledgeable about sport(s) you are betting on. I am good with soccer because it is very popular in my country and almost all men play soccer

1) Primarily betting will be on soccer/football. That is the area that I have the most expertise with and the one that trends can be identified and taken advantage of easier. Also the returns are very good.

2) I am thinking more on the lines of 75% of the pool on a single bet to give the opportunity of bouncing back if that bet goes bad. Also sometime lower % of the pool will be used if the risk is considered somewhat high. Ofcourse it depends on the returns possible. I try not to be greedy.

Any more questions, please feel free to ask.

All the best,
Alex

Well, I have more questions

1. Will you place bets on single game or combo bets?
2. Are you going to bet on regular 1,x,2 or you will place bets on asian hendicaps, under/over...
3. Are you opened for suggestions?
4. Where are you coming from if that is not a secret

Best wishes

Originally Posted by kingtvrtko

Well, I have more questions

1. Will you place bets on single game or combo bets?
2. Are you going to bet on regular 1,x,2 or you will place bets on asian hendicaps, under/over...
3. Are you opened for suggestions?
4. Where are you coming from if that is not a secret

Best wishes

Answers below:
1. Combo bets, usually up to 3 teams, no more.
2. Regular 1,x,2 and double-chance only
3. Always
4. Borned in Cyprus/Greece. Lived in Boston,New York, Italy and Germany though.

Regards,
Alex

Unfortunately so far not enough people showed interest in the pool to justify its creation. I will wait until next week to see if more people step forward and in the meantime update myself on the leagues that resume again this weekend. Italian and Spanish leagues begin on Saturday along with some other European cups..

All the best,
Alex