Is this the best strategy to make money out of a 501/1 odds

Matgoolys · Handicapper Joined: 15 Jul 2009 Posts: 21

Because I am such a nice guy and I want feedback on this bet I will share with you.....

This is what I did, in less than 1 month the 2012 Olympics will start, I am big fan of volleyball betting and watching, I have a good understanding which is a good team and which is bad, our bet is to place:

$100 on Australia men to team to win gold in Volleyball 2012 Olympics at a staggering 501/1 which means if Australia wins you will make $50,000

However I am not expecting Australia to win, I am expecting Australia to reach the semi finals which would be 2 steps away from winning the mega pot. This is the catch you already risked $100 and if Australia reaches the Semi Final because of the weak group they have been place in (if they only beat Argentina and Italy) we are in the money because if they reach the Semi final you will place $5000 on Australia to lose you will probably get a min of 1.8 odds, if Australia loses and you are out of the tournament you would have lost your intial $100 but you won a min of $4000 out of the $5000 bet, and if Australia wins that means you lost $5000 bet but you are only 1 step away from winning the big money, so you do the same in the final you place $10,000 on Australia to lose final you will cover the $5000 you lost in the semi and you will make another $5000 in profit, and if Australia wins Gold you will make min of $35,000 with your initial $100 bet minus the $15,000 you risked betting against Australia. The name of this $100 bet is Australia to finish in their group 1st or 2nd then you are guaranteed big money depending on the stakes you want to place

MP W L D P Form
1 Argentina 0 0 0 +0 0
2 Australia 0 0 0 +0 0
3 Bulgaria 0 0 0 +0 0
4 Great Britain 0 0 0 +0 0
5 Italy 0 0 0 +0 0
6 Poland 0 0 0 +0 0
Next Round

I already placed the bet: time will tell, I would appreciate feedback on the total strategy of this bet? and if you have any questions do not hesitate to ask.... good luck

Edit: you can always place small wagers my bookie allows me to place high stakes you can place lower stakes for the semi and the final

Edit: I don't have a Betfair account since it does not accept my bank transfers, anyways I did this strategy before if you look at my previous posts I took Sweden Women football team at 19/1 in World Cup and i bet against them in the Semi and made a bundle.

Edit: its the 2nd of August after watching 3 days of matches its not looking good for Australia, switch of tactics now, bet on Bulgaria to win Pool A @5.5 i took this bet at Unibet placed $200

Micko70 · Posted: Tue Jun 26, 2012 8:40 am Post subject:

If i am reading this right, you are saying back them at 501/1 to win the Gold Medal, then once they reach the semi finals place $4,000 on them to lose?

Let's just say you do that, then they win the semi final but lose the Gold Medal match, you have just lost $4,100 with no way of recouping your losses in the Gold Medal match, as i doubt many bookies will let you place a $10,000 bet on a single match
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jimmywomble · Posted: Tue Jun 26, 2012 1:49 pm Post subject:

Or is there not a Betfair market you could back them in, then trade out when they reach the semi and/or final?
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fantham · Group 2 Class Joined: 28 Jan 2009 Posts: 109

Am I crazy for backing Australia on Betfair @ 110 based on this dudes advice? lol. God I hate the days when there's no football on.......
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arsenalfan1989 · Handicapper Joined: 15 Nov 2010 Posts: 10

Haha almost definitely yes! Could be words of a genius though so we shall wait and see!

ebookconverter · Posted: Wed Jun 27, 2012 8:57 am Post subject:

I'm also wondering if I am reading this correctly. Are you referring to yourself as "you" in what you've written, or is this someone else who is encouraging you to do this?

There are scams abound which try to persuade you to place bets on behalf of others and send them money if it wins. (HUGE "if", usually). If that's the case I would steer well clear of that.

If you are talking about a bet that you have come up with yourself (which sounds strange because you're referring to yourself as "you"), I'd still be very wary. You're talking about backing up an initial $100 bet with a further bet(s) of up to $10,000? That in itself would give me chills, plus are you sure you would be able to get $4,000 and $10,000 on? Just because you want to place a bet does not mean the bookmaker has to accept it, and those are very large sums for such an insignificant event, albeit at the Olympics.

But like I say, it's hard to understand exactly what the context is.
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Epic · Triple Crown Winner Joined: 25 Apr 2006 Posts: 2108

Out of interest I had a look at the opening round odds and Australia are 4/1 to beat Argentina. Very confusing as the thread starter makes it look like the Aussies will walk their group.
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munchen · Classic Winner Joined: 06 Aug 2011 Posts: 905

I am quite sure the max you could bet for a volleyball match is 1k in any bookmakers.