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Having spent all week packing 30 parcels ready to send items off to my eBay auction winners it feels great to have finally put the brown tape away. Nearly all the items are now posted and it’s time to count up how much I have made, however before I enjoy this treat there are a few tricks to overcome first…
£172.63
With the pound falling over 15% against the euro this year it probably should have come as no surprise to me that German consumers are looking to the UK for bargain purchases. However, I had not thought about how this would effect my recent eBay selling before recently listing another batch of items for sale.
After throwing away a £20 free bet on Sunday I was keen not to dwell on my mistakes and get straight back into matched betting with £80 worth of free bets still up for grabs from the same bookie. This time I made sure to double check and then triple check everything just to be sure there would be no more mistakes.
Thankfully everything went to plan this time and I was able to extract a £58.81 profit from the £80 worth of free bets. Whilst a return of 73.5% may not be the most spectacular return I have achieved from matched betting it does at least mean I am back on the bike after falling off on Sunday (figuratively speaking at least).
£58.81
I had a £20 free bet to use today and getting up early to watch the Chinese Grand Prix I was keen to use it straight away. Normally I would be expecting a 75% return on free bets where the stake is not included in any winnings (known as SNR) so I should have been looking at a profit of about £15.
However in my rush to use up the bet I threw my money on Hamilton to win the race at odds of 2.00, with a lay bet being placed at the same odds. Unfortunately this was my first mistake as when free bets are SNR you really want odds of around 6.00 to maximise the return. Although as it was I could still expect to make a profit of £10, i.e. a 50% return. But I didn’t stop there….
A quick look around all the major news outlets today and you would think this credit crisis is going to end the world. My personal favourite is this piece from the Australian Courier Mail:
Consider the events of recent days. World financial markets have continued their death spiral, culminating yesterday in a 360-point bloodbath on the Australian Stock Exchange. Falls in the past week have basically obliterated the gains of five years of economic sunshine. Trillions of dollars of investors’ savings around the globe have been vapourised.
We have had market crashes before, but none quite like this slow-motion train wreck. And the fear and loathing on world stock markets is really only a symptom of a far deeper and intractable cancer afflicting international credit markets. In short, much of the system teeters on the brink of collapse. It is the credit crisis we did not need to have.
Wow… after reading this even I am starting to think it might be the end of the world. However despite all this doom and gloom this morning, as the song goes “And I feel fine”. Yep that’s right, physically I feel just as good as I did when I woke up last week, last month or even last year before the term credit crisis had even been coined.
As far as I am aware there was no blood spilt on the floors of the Australian Stock Exchange, or any other global trading floor for that matter. Nobody will lose their life as a direct result of this stock market crash, and it’s long been cited that money does not buy. And even here in the UK, the sun is shining today!
The opinions expressed are those of the author and are not held by any other party unless specifically stated. The material is for general information only and does not constitute investment, tax, legal or any other form of advice. You should not rely on this information to make or refrain from making any decisions. Always obtain independent, professional advice for your own particular situation.
