Over the past week or so, I've been posting more and more selections for backing on my amanthatlays blog, which is taking away from the name of the blog entirely.
So I've been thinking of this new blog just for backing.
Most people have come across either Psychoff or Adam Heathcote Horse Racing Trader [ £0 - £350,000 Challenge ] blog.
Before Psychoff shut doors he was working on the Million Pound Project.
What does it take to make a million pound in one year in everyday business, let alone betting, lets not take into account people who are already making tons of money.
Say we take an average joe and give him £1000, how long would that take him to turn that in to a million.
I believe it is more than achievable to average 10 points profit daily from backing horses.
So around 3650 points profit annually.
Based on a 10 point average, and starting with £5 stakes with compounding.
Only upping stakes by £5 once the bank has increased by £1000 and keeping the stakes at £100 once it hits that much.
Based on them sums I believe it would take little over 3 years to raise a million.
Were we to up stakes to £200 once we had hit £100,000 then we'd shave a year off that time.
Up them to £300 and we looking at a year and a third.
To hit a million within a year we have to be staking £450 per bet once we'd hit the £100,000 mark, or make more points profit on average.
I believe I am average, I lack the experience in horses that alot of people have gained from years of watching.
This is my journey in the world of making a million from backing horses, whether it is actually possible or not we'll have to find out, obviously finding the winners is the hard part, its all good doing the math!