Don't read this if you have an addictive personality!

Right, the results are in, but before you read them, if you haven't read the introduction I posted on Lay Betting, read the article Get Paid to Get Layed.

Now I mentioned before that I have no real gambling experience (Other than working as a programmer building banking solutions for online casinos) and know very little about horse racing, so I had to do a little reading on the sport before I got stuck into the Lay betting experiment.

Here are some key points that I have learned:

• It's easier to Lay bet than back bet as picking a loser is easier than picking a winner
• People who Lay bet generally have a calculated formula
• There are some great Lay betting formulas out there to purchase
• BetFair can be a lot of fun, but if you have an addictive personality, stay away!

Right, so as you know the main objective in these experiments is to turn a profit, so I intended to arm myself with the tools to do so. Make sure you do this in this order:

1. When you sign up for a BetFair account use this Refer and Earn code (WCEK6CMHG) and you get £20 ($40) Free to play with, trust me, use it and when the extra money shows up in your balance you'll thank me.
2. Purchase a Lay betting formula. There are quite a few out there, I bought "Lay Formula" which cost me £59 ($120) - You need a formula, unless you just want to gamble. Myself, if I'm going to take a risk, it needs to be calculated.
3. Go make money having fun doing it.

RESULTS

Race	Stake	Liability	Profit/Loss
Newb 14:00	£5.00	£20.50	£5.00
Newb 14:30	Scrapped	Scrapped	Scrapped
Newb 15:30	£5.00	£20.00	£5.00
Bang 14:20	£5.00	£40.00	£5.00
Bang 14:50	Scrapped	Scrapped	Scrapped
Bang 13:20	£5.00	£17.50	£5.00
Ling 16:15	£5.00	£45.00	£5.00

SUMMARY
Initial Deposit: £62.00 ($124.00)
Winnings: £25.00 ($50.00)
Losses: £0.00 ($0.00)
Closing Balance £87.00 ($174.00)

So, that's a £25 ($50) profit for 2 hours work, well its was actually a lot of fun with all the excitement.

You will notice that same races I scrapped, this is because the formula I used recommended that it would be difficult to pick a loser accurately for these races so I did not place a lay bet.

This Lay betting this has got me pretty excited. There is about a 92% strike rate if you use a good formula. That said 8% of the time you may lose, but generally you win, and apparently if you stick it out, the long term results can be a good monthly income.

My next step is to try out something else a came across which is a piece of software you can download which, based on a formula can automatically place your bets at BetFair without you having to do anything. Basically, Start the program, Go out for the day, come home and review your daily winnings. Sounds cool, I'll check it out and let you know how that goes.

Have fun at the races,
Oh, and those of you that celebrate Christmas, have a good one!

The prof

Get Paid to Get Layed

Before you get all excited, this post is not about earning money while getting busy with your lady (or getting busy with your man, sorry ladies, this post is indeed intended for men and woman :) ).

So the other day, I'm chatting to a mate of mine who is telling me about a mate of his who is earning a living sitting on his arse at home, watching telly and and being online. Now, "making a living" is a small understatement, we are talking about $2000 and more a day.

How is he doing it? He is doing whats called "Lay betting". Whats "Lay Betting" I hear you ask? Well hear me out, I know nothing about betting of any kind, I'm not a gambler, but was intrigued by this story. Apparently, there are companies out there called betting exchanges, the biggest of which is BetFair. Betfair allows you to be the Bookie by laying bets on Horse racing and pretty much any other sport you can think of.

Now placing a "Lay Bet" is effectively betting on who is going to LOSE. You can either put a Back bet, where you bet on who is going to win, or a Lay bet where you win if the horse you chose to lose, does indeed lose.

The idea is that it is much easier to pick a loser than a winner, especially in Horse racing as you base this on the odds.

I smell and new Experiment says the prof!!! I'm of to sign up with BetFair, do some reading on Lay Betting, and work this experiment, I'll post the results in a few days.

By the way if you sign up at BetFair here is a promo code (WCEK6CMHG), use it and you get £20 Free to play with after you have deposit and played your first £20
Disclaimer: I will also earn a referral fee if you use this code, so help support my experiments, by using it too, thanks!)

UPDATE: Read the Results Post here

The prof

Milking It

Ok, I know some of my readers have been getting pissed off with the delay in posts around some of the experiments, but to be honest, I have been seriously milking it with one of these experiments, so much so I have little time to do much else like posting here. That's my excuse and I'm sticking to it!

Anyway, the experiments continue and I will continue to post, gonna try for a feedback post every 2-3 weeks. If that's not good enough for you, well go read another blog, it not like there is a shortage of choice out there.... but, if you want quality info, real statistics and a connection to a Guinea pig like me who is putting up loads of cash to make mistakes on the experiments so you don't have to, they keep reading!

Ok, here is some feedback on the Lottery post.

I'm playing the UK lottery regularly now, it's actually great fun, I've spent more than I've won so far, but not that much more, my biggest win so far was on Euromillions last Friday £89.00 - Nice!!! Who's to say my next win wont be £88,000,000 which is what the Euromillions jackpot reaches every now and then.

So, if I have spent more than I have won, why is this blog title "Milking It"? I hear you ask. Well let me tell you. I joined the uklotterylive.com affiliate program and have been driving traffic to it from some other commercial sites and some email marketing. Here is what I did:

• Joined the ukloterylive.com affiliate program
• Got some banners from their affiliate tools
• added the banners to a few of my sites
• Got my affiliate link and mailed it to friends and family

After doing this I sat back and forgot about it for a month. When I logged back in to check my affiliate reports, let me tell you, I almost fell off my chair.

This is what I saw:

Period 06/01/2007 - 10/06/2007
Commission earned: £352.00 (That's over $700)

Things have continued to grow, here are the stats for the last few months:

Period 10/01/2007 - 10/30/2007
Commission earned: £1,800.36 (That's over $3,600)

Period 11/01/2007 - 11/31/2007
Commission earned: £1,960.88 (That's over $3,920)

Needless to say I have been very busy trying to find more ways to increase the earnings of this little experiment. It is still an experiment, but if it continues like this, it could become a full-time money generator.

Sign up now by clicking here.

Cheers
The prof