Monday, April 02, 2007

A Cautionary Tale

Cor blimey, I nearly came a cropper at the weekend. I have often looked at the intriguing world of spread betting but only on Sunday did I seriously consider having a punt myself. I was checking out the Sporting Index site and specifically examining the options open to someone wishing to gamble on the Biarritz versus Northampton rugby football fixture. There was a projected spread on the French side’s performance where Biarritz were awarded 25 points for winning the fixture, fifteen points for each try they scored and five point for every successful kick. Five points were to be deducted for each missed kick and every yellow card. Well, I reckoned Biarritz would slaughter, slaughter the Midland outfit; they were at home with the sun on their backs, Saints stood bottom of the Premiership with confidence at seemingly an all time low and the class of players such as Yashvili, Betsen and Harinoroquy would surely rack up the points. If they were to win, score four or five tries and pop over a few kicks, I would be quids in. The spread was 88-94 so, if I gambled a pound, and Biarritz’s performance rating was considerably higher than that - and surely that would be the case - I would win a fair bit. If I gambled a fiver, I’d clean up. I’m relieved I didn’t have a bet. With missed kicks, no tries and a loss, the Biarritz performance scored exactly nil. Placing five pounds on them doing well would have lost me 450 pounds. Spread betting is scary and I’m happy to report a lucky, lucky escape.

No comments: