I have £500 pounds to invest in 'gambling' (if this isn't an oxymoron - I suppose all investments are a 'gamble'). I have been doing some research for some time and had some success betting but not seriously. I have listened to the likes of jhim, z, mark amongst others. I would appreciate any advice on how to use this money to maximise my returns. I obviously intend to turn it into some decent profit. I am looking mainly for advice on staking sytems and what to bet on.

My current thoughts are. Staking 5% of my balance on each bet increasing the amount when my bank increased by 50%. This would mean starting with £25 for each bet, raising to about £37 for the next ten units etc. I would also prefer to bet to level stakes, as I believe this is the best way to consistent profit.

I know that this is a football site but I have had most success betting on tennis and made the most cash out of this so far, following the advice of some 'experts' on the net. My main 'problem' with football is that I hate the draw which has shafted me so many times. I have looked into asians but don't really know about them. I have only bet on them once and don't have much experience with them.

Open to ideas, help, advice and criticism on all of the above.
- Also looking for experts who produce a consistent proftit, like Daz did or even better when Z when was at his height of power and winning me lots of dosh!

Sounds like you'v got a good plan ... I would highly recommend never betting over 2% though. Just keep it small let it grow.

Try to define what risk you want would be my advice.

Btw... TOP TEN WAYS TO LOSE (by J. R. Miller)
1. Always bet more than you can afford to lose.
2. Keep changing the sizes of your bets.
3. Always bet according to your hunches.
4. Lay lots of futures bets and bet big on parlay cards.
5. Whenever you gamble, be tired, drink up, and flirt like crazy.
6. Pay for advice from touts who claim to win at least 70% of their picks against pointspreads.
7. Never read books or articles by experts, never do research.
8. Always impress people with the size of your bets.
9. Consider winning or losing as a direct test of your self worth.
10. Be superstitious.

Thanks for those two for responding - Has anyone else got any words of wisdom before I start. Staking methods or what I should bet on? (Other than winnershttp://www.network54.com/Realm/footballfixedodds/spin2.gif - will probably start this weekend - unless anyone says anything which changes my mind I will probably go for tennis as my main one but not post on here for two reasons: 1st - it is a football site
2nd - I can't access internet betting sites at work so won't always be able to post selections - will often be rushed to do so.

Will have a seperate account for footy and as I haven't been as successful at footy (the bloody draw!)- I will probably start with a measley tenner level stakes and hope to build on this in a systematic way.

Everything said is fine.Moreover you plan is very good and logical.

Try to start with as few bets as possible and play handicap bets which are way safer.This until you become experienced.After that, you will form your own style.

Don't rush it ,take your time and have very strict criteria.Even if you find a small detail that unsettles you about a certain bet ,don't lay it.
Sometimes one may play 10 or 12 times a month and make more money than playing on a daily basis.

Good luck!

The best lesson I learnt, is to always stay focused. It's all about mind games, between you and your bookie.
The bookie has loads of time on his hands, so he waits patiently for you to slip up.
He is not stupid, he knows you will be back, may not be today, but he knows you will be back.
Never, ever, chase your losses, and always research your bets before you put money on them. Remember you had to work for that money.
Try to limit your bets to what you feel has the greatest chance of winning.
Single bets, will always have a better chance than doubles and upwards.
Wish you the very best.
trig

Stakes of 2% of bank seem fine to me. Unless you can return a very decent yield, by which I mean 20% or more, 5% is surprisingly risky.

Instead of level staking you might wish to consider adopting a fixed profits plan, whereby you win the same each time, so staking less for higher odds (but keeping your average stake size to about 2% of your starting bankroll). This is a very safe strategy and as rewarding as level staking.

Have a think also about what returns you want to acheive. Many like to double their bank in a season, but this could take more time than you imagine. If on average you return £1.10 for every £1 staked, and you are betting 2% level stakes, you would need 500 bets - that's quite a lot (although fewer if you re-adjust your stake size after the bank has grown by 50%). You could of course save time by increasing the stake size to 5% or more, but the risks then rise faster than you might imagine.

Anyway, that's my slant on it. Always think about your risk-reward preferences, i.e. what risk you are prepared to accept for the reward that you seek. I'm currently writing a book on much of this material, hopefully it'll be out befpore the end of 2003.