How this works............

I have deposited £1,000 in a brand new bank account, part of a small bonus given to me by my employers. Any losses sustained won't affect my day to day living as I have a young family to support, and I think this is where many recreational gamblers get it wrong.

I will bet 10% of the fund (rounded depending on current balance, see table below) on the bets I think are value at the local William Hill. Any winnings will be deposited directly into the bank, which happens to sit directly opposite the bookie. I know the odds will be invariably be better on the exchanges, but you can lose all sense of value when waging on the net.

Balance:
£0-£500 - Bet size £50
£501-£2,000 - Bet size £100
£2,001-£3,000 - Bet size £200 etc

Football is my speciality, and whilst I know in reality that making any serious money is just wishful thinking on my part, I will track my progress against what I could have made in a good paying deposit account. Because of the risk factor of my project, the interest rate will be double whatever the Bank of England Base Rate is (therefore as the rate is currently 5.75%, this will be 11.5% at the moment). I will publish the graph periodically.

I will also put together a series of "rules" that I will stick to in order the stop me "leaking" funds through stupidity or greed. I will try and place all bets on the blog before kick off, just to ensure the genuine nature of this challenge is maintained.