Meet the man who beat the bookies — and the banks. But the odds are against you

Meet the man who defeated the bookies — as well as the banks. But the odds are not in your favor

Is it possible for sports betting to make a living? Simon Inglis claims that he has made more in sports betting than any best-buy savings account. However, it is not possible if one considers the victims of the industry.

Gambling is considered a mug’s pastime. I was certain that this was my view. Except for one annual punt on Grand National I managed to steer well clear. I was not the only one who cleared out the contents my uncle’s slumflat, which was littered by betting slips.

Mental arithmetic is another hurdle. It’s not something I enjoy. I can’t remember if a gambler ever tried to teach me the basics. Last year, my book, Played in London (William Hill Sports Book of the YEAR) was shortlisted. My reward? One free PS1,000 bet

I didn’t intend to waste this chance to make a fortune — stats about how little an author makes are accurate. So I placed the bet that Aston Villa would beat Blackpool in the Premier League at 4/9. In the 88th, Villa won the win. But a win is still a win.

While you might be laughing, 35 years worth of writing about sport (albeit its history, culture and not itself) I never really understood how winning a bet results in not only a profit but also a stake back. I was so happy to get a William Hill cashier, not for PS444.44 the way I had hoped, but for PS1,444.44. Tax free.

What if short odds betting (where the odds of something happening are fairly high) could at the very minimum beat interest rates offered from banks and building society? How could I achieve all of this while following the advice from the industry to “gamble responsibly?”

Middle class women can find the bookie’s environment quite alien. The primary colours, bright lights and smell of stale sweat were not enough to make it a welcoming environment. It was refreshing to see familiar faces in the vicinity hunched on fixed odds machines. This is the milch cow of high-street bookmakers. Not least because I recognized one among them as the same young men who, just a week ago, had begged me for fivers on the streets with a compelling sob story.

But I kept at it. I would stop by Ladbrokes on my way to farmers’ market every week and stake PS20. (I explained to one member of staff that it was a minor distraction since I was simply passing through, and she laughed, “that is what they all say.”

Soon, however, I was the laughing one. Actually, I now have 18.5% profit margin with 50 bets. In other words, my PS1,000 has been transformed into PS1,185.48. That’s Nationwide.

How did I do this? First, only betting on short odds. Never more than 1/1 (or evens, as I learned to call them), but more often around 4/9. So my highest profit was PS20. It ranged from PS6-PS9.

I paid the money in cash. As my friends have admitted, internet accounts offer a way to indulge in temptation.

Thirdly I kept detailed records. This was to record my progress and also to ensure that nothing was a hoax. Lay Betting — Bettors Become Bookies