Bookmaker Account Closures
In order to make money from betting, you need a bookmaker who is prepared to take a bet - and unfortunately, nowadays, finding one who will, is not a formality !
If you make a consistent profit bookmakers will eventually either close your account or limit it to the point where it is not worth bothering.
And as that is what we all strive to do, then we appear to face a dilemma !
Worse still, if you don’t run a profitable account – but consistently beat SP, then you are likely to have you account closed/limited (because the bookmakers will figure you have been unlucky – and that eventually, your poor luck will turn !).
So, how do we overcome this situation…?
Well, maybe not too surprisingly, there are no easy answers – however there are a few steps you can take which keep you accounts open for longer (and these don’t include operating a losing account – or consistently taking below the odds !).
One of the key things you should do, is just use two or three bookmakers and look to put all of your bets (and a few more !) through them (so even if you have access to a dozen bookmakers, don't use them all as you will end up spreading your bets too thinly).
Bookmakers are after a volume of business, as they believe, that with the odds in their favour, they will inevitably win over time.
Ideally they want their customers to have little idea over what they are doing - and limited self control.
In order to keep accounts open and useable, we therefore need to appear to them like this, for as long as possible !
If you just place a few bets with them – and win (or just beat the odds) – they will assume you are either knowledgeable or shrewd and close you down.
In terms of types of bets, the make sure you mix up straight win/EW bets, with multiples, forecasts etc – and ideally bet on more than just horse racing.
Ideally you will get these other bets to about break even as that will help with the bigger objective (ie. keeping your account open for when you want to strike a 'proper' bet) without costing you.
The other bets can be staked smaller – and be at low odds (to reduce losing runs) – the important thing is the volume.
When betting on the racing, resist the temptation to bet into weak markets (as bets will be much more likely to raise attention if they are successful – or even if they are subject to a price crash).
When the bookmakers do eventually catch up with you (and it will happen, believe me !) you should switch all of your business from the one who closes you, to another one (there are at over 20 on the Oddschecker site alone).
Hopefully using this method, it will take a few years for you to work your way through all of the main bookmakers – by which time, you can look to open a new account in the name of a partner/friend, with the first bookmaker who closed you down.
Of course, the other option is to find a way of producing a profit at SP (or BSP) and this is something I am trying to hard to achieve (under the TVB banner).
However it is something that will always be difficult to achieve, due to the uncertainty over the price your are taking – and the need for that price to represent ‘value’…
That won’t stop me trying though!!
If you make a consistent profit bookmakers will eventually either close your account or limit it to the point where it is not worth bothering.
And as that is what we all strive to do, then we appear to face a dilemma !
Worse still, if you don’t run a profitable account – but consistently beat SP, then you are likely to have you account closed/limited (because the bookmakers will figure you have been unlucky – and that eventually, your poor luck will turn !).
So, how do we overcome this situation…?
Well, maybe not too surprisingly, there are no easy answers – however there are a few steps you can take which keep you accounts open for longer (and these don’t include operating a losing account – or consistently taking below the odds !).
One of the key things you should do, is just use two or three bookmakers and look to put all of your bets (and a few more !) through them (so even if you have access to a dozen bookmakers, don't use them all as you will end up spreading your bets too thinly).
Bookmakers are after a volume of business, as they believe, that with the odds in their favour, they will inevitably win over time.
Ideally they want their customers to have little idea over what they are doing - and limited self control.
In order to keep accounts open and useable, we therefore need to appear to them like this, for as long as possible !
If you just place a few bets with them – and win (or just beat the odds) – they will assume you are either knowledgeable or shrewd and close you down.
In terms of types of bets, the make sure you mix up straight win/EW bets, with multiples, forecasts etc – and ideally bet on more than just horse racing.
Ideally you will get these other bets to about break even as that will help with the bigger objective (ie. keeping your account open for when you want to strike a 'proper' bet) without costing you.
The other bets can be staked smaller – and be at low odds (to reduce losing runs) – the important thing is the volume.
When betting on the racing, resist the temptation to bet into weak markets (as bets will be much more likely to raise attention if they are successful – or even if they are subject to a price crash).
When the bookmakers do eventually catch up with you (and it will happen, believe me !) you should switch all of your business from the one who closes you, to another one (there are at over 20 on the Oddschecker site alone).
Hopefully using this method, it will take a few years for you to work your way through all of the main bookmakers – by which time, you can look to open a new account in the name of a partner/friend, with the first bookmaker who closed you down.
Of course, the other option is to find a way of producing a profit at SP (or BSP) and this is something I am trying to hard to achieve (under the TVB banner).
However it is something that will always be difficult to achieve, due to the uncertainty over the price your are taking – and the need for that price to represent ‘value’…
That won’t stop me trying though!!