Skip to main content

punting for charity

The gambling world often gets criticised for encouraging the vulnerable to waste their money with not much given back to society. Most charitable efforts by the firms aren't reported, and Betfair and Sportingbet are just two of the firms with quite substantial charitable contributions on their books each year.

But the biggest donations you ever see from punters usually comes from the media when they hire some 'experts' to make a few bets with the winnings (which are definitely not guaranteed!) going to a nominated charity. There may be others I've missed but there is rarely a co-ordinated charity betting campaign of any substance. Until now.....

PuntingAce, a website and forum I write for regularly, have been running a charity challenge for quite a while. They started with a bank of AU$125k two years ago, and are now over AU$55k in profit. And that doesn't include the annual Charity Swim one of the owners does each year to benefit a local school for children with special needs. The full list of donations and causes PuntingAce has supported over the years (over AU$50k) can be found here.

Too much is made of sensationalist stories from halfwit politicians like Nick Xenophon in Australia who see every form of gambling as evil - but of course everything the banks and financial markets do is perfectly credible. Guys like this who spend a significant chunk of their time making money for charity deserve to be applauded. Well done fellas.

Comments

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

Racing has a Ponzi scheme - and the fallout will be enormous

When the term 'Ponzi scheme' is mentioned these days, the names Bernard Madoff and Allen Stanford instantly spring to mind. The pair of them ran multi-billion dollar frauds (US$60bn and $8bn respectively) that destroyed the lives of thousands of investors who had put their life savings into a 'wonderful' investment strategy. How so many people were sucked into the scheme is baffling to those on the outside. The lifestyle, the sales pitch, the success stories of the early investors - I suppose it all adds up.

So where does this link to racing you ask? A prominent Australian 'racing identity' this week has been reported to have lost access to a bank account with punters' club funds of $194m in it. Firstly - is there a worse term for anyone to be labelled with that 'racing identity'? It ALWAYS ends up meaning shonky crook! Secondly - who the hell has a punters' club with an active bankroll in the tens of millions? It simply can't be done.

The…

damage control when trading goals

When trades go bad, some people will say cut your losses immediately, others will recommend having a bit of patience as events tend to level out (i.e. games with two goals in the first 10 mins never end up with 18 goals in 90 minutes). This is something I like to do on certain matches.

Background:
1. You've backed Under 2.5 goals, trying to nick a few ticks at a time as the clock ticks.
2. You've been caught out by a goal.
3. The market has gone sharply against you.

On this particular match from a couple of weeks ago, there was an early goal (sixth minute) before I got involved. The period immediately after an early goal regularly shows a sharp drop in the Under price, so I was trying to capitalise on that. But Watford then scored again after 14 minutes. The Back price I took (3.95) was now out to 12 - I could close out for a big loss (not my style) or wait and wait for the price to come back to somewhere I could close out for minimal damage. But at 2-0 after 15 minutes, it w…