Eating your own lasagne

11/02/2013 | By | 5 Replies More

I thought I would make this post topical!

I had a decent day on Saturday. The racing wasn’t anything amazing, though I put in a solid performance, but the football gave me a rare day with no losses and that result netted far more than the racing. At least this was the case on Saturday, on Sunday football was slightly negative, it all balances out over time.

Each sport I work on I tend to use different tactics and it results in different returns. Pre-off trading on the racing yields consistent results with few losses but in-play trading will always produce much higher variability in both directions. So I use different accounts on different strategies and sports so I can actively monitor the performance of each. This helps put things into perspective and allows me to easily keep track of things over longer time periods.

One important aspect of what I do on a regular basis is actually participate in the market. I do this because I enjoy the challenge but also because it’s important, for me a least, to actually eat my own dog food. I would feel guilty being a guitar instructor if I had never played the guitar, let alone not very well. So actual participation is vitally important to me, especially as an instructor. I can offer advice with confidence knowing I have actually put it to use and in a not insubstantial way. I also use this experience to test and build new features into Bet Angel. When we are looking at a new idea or a suggestion I’ll be the first one to get the rough end of the stick. People who work with me are strongly encouraged to get their hands dirty, that way they can experience the same emotions as our customers. I once worked with a retailer who used to mystery shop their own shops, it’s no surprise that they had the highest reputation for customer service.

To be honest I think the world would be a much better place if people where forced to each their own dog food and / or prove that they do. That bloke from Findus could dine on horse meat, that e-book seller would lose thousands, the banker could get shafted by his own ‘investment’ product and that politician could be punished by his own policies!

Maybe it’s a bit idealistic, but I would like to think this would ensure the world would be a better place?

130209 - P&L - UK Racing - Copy

 

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Category: General

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

Comments (5)

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  1. westerner says:

    Couldn’t agree more 🙂

  2. fil1 says:

    Hi Peter,
    I am curios what was your max liability (bank)
    for this result?

    Thanks

  3. Peter Webb says:

    I tend to carrying a large bank to cover all possible scenarios, but looking at the stats on Saturday my biggest exposure at any one point was £4905. I get Bet Angel to monitor all open positions and export my exposure for later analysis. Keeping exposure down is an important aspect for me.

  4. TomP says:

    Hi Peter,
    how is that possible to have more accounts for Betfair trading? They have cancelled using more accounts earlier this year.
    Thanks,
    Tomas

  5. Peter Webb says:

    I see they changed terms on 31st Jan, but I think that was related to fixed odds betting? I haven’t opened any new accounts, just had different ones for some time. They are already linked.

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