Gambling Systems Buyer Beware

By Matt Elliott

I do hope that this isn't the first time you have been exposed to the following information. This article is a very quick and broad piece with the sole aim of helping save a few people from wasting their hard earned.

After yet again hearing of a punter who has lost $10,000 to a failed commercial system (actually he would have lost much more than $10,000 as I was only referring the amount he paid for it), I felt obligated to write this article in an attempt to save a few others from the same fate.

A point I would like to make up front is that although a betting system may not work as promised, I do not necessarily believe that the person selling the approach is necessarily a crook or is dishonest. I have in the past come into contact with a number of system sellers (mind you not the type that offer systems in the many thousands though), who have been very honest individuals but yet sell a system which, based on my opinion and mathematics, could not possibly work. The problem is that the person selling the system doesn't understand gambling themselves although they may have had decades of experience as a punter. There is a big difference between a punter and a successful punter.

I would also like to make it clear that I do not believe that all high priced systems do not work. To be honest, I have no interest in looking into what others are selling and will only do so if a customer is considering a purchase and asks me to do so.

The goal of this article is to give you a few pointers regarding what to look out for in a commercially sold method. Note that this article applies to all gambling systems being sold regardless of whether they are $25 systems or $25,000 systems. As a side note, the most expensive system which I know of is one which was sold for $80,000 (yes 80k that is not a typo or an exaggeration), from a company which was/is based in Hong Kong. The poor guy who purchased it, after losing his initial bank and not being able to get any support from the system vendors, turned to me to see if I could magically make it profitable. (Unfortunately that wasn't possible.)

Below are a number of steps which you should include consider when investigating a method for purchase.

1. If in doubt, ask someone who may be able to help. Drop your query on the Punting Ace forum, without mentioning the name of the company (if the company concerned aren't all that they say they are, we would hate to give them free advertising), and explain what you are being offered. I am sure others on the forum will be able to help you to ascertain if the system is worth looking into.

2. Make sure you have a landline phone number and a full name in order to contact the system vendor.

3. Find their A.B.N or A.C.N number and you may even like to perform a company search with the relevant government departments to ensure that they haven't been in trouble with the ACCC or the like.

4. If they are a selection service, ensure that they publish their full results including the advised stakes to clients. I would be more inclined to consider closely a service which had either made or lost a very small percentage over time however provides full records than a service which simply tells you what they made with no proof.

5. Is the company in question monitored by an independent third party in Australia such as 'Punter's Choice'? (www.punterschoice.com.au)

6. Use the Punting Ace Simulation Program to give you an idea of the likelihood of their reported results being due to luck or if in fact they can be relied upon. Doing so can really open your eyes! For example, no doubt you have heard the claims that such and such a system makes 100% Profit On Turnover. To simulate this, let's say that your average dividend is 4.0, you use a moving bank and bet 5% of your bank per bet and you start with a bank of $100. Using such a system, you can expect to have the tidy sum of roughly $1,117,926.85 after only 200 bets. Hey not bad! Very appealing, however not very realistic.

7. Check how long the company has been in business. Generally the longer the better however this test doesn't mean too much by itself. They may be an excellent company which has just 'opened their doors' or conversely, they could be a company that has been around for years but they have a cunning team of solicitors to keep them in business. In saying this, as a general rule, longer is generally better.

8. If the company in question has an online presence, you may like to check their 'Alexa' ranking to get a guide to the volume of traffic the website is receiving. This is the web's most respected and accurate measure of traffic to a website. The lower the ranking the greater the volume of traffic visiting the site. You can download the free toolbar by going to www.alexa.com. On that page there is an option titled 'Free Toolbar' which you will have to select.

Anything beneath 100,000 is generally regarded as excellent and a reasonably high traffic site. If the site doesn't have a ranking as yet, I would tread warily. Again, this is test which by itself doesn't mean much, however combined with other factors it can help you see the big picture.

9. Testimonials are always good especially if you can contact the person via email or phone who gave the testimonial.

The above isn't a definitive list of what you should watch out but it will well and truly be enough to make you think twice before purchasing a high cost system or service.

If in doubt . . . get the opinion of others on the system or service you are looking at. Doing so may help you see something important that you may have initially overlooked.

M.E

This article is protected by international Copyright © Elk Publications Pty Ltd February 2005 Please contact if you wish to reproduce this article elsewhere.