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I would like to share my experience with sports arbitrage. I purchased a membership for $11800 from a firm based in Milton QLD called Softtech. Let me say that the system does work and that profits of up to 5% + can be made and I have made those profits. I have been trading since October 2008 and to date have a net gain of over 600 euros but I have lost 1140 euros along the way. Most of my bets are less than 300 euros. So I make up to 5 euros per trade – sometimes more sometimes less.
However, there are a few problems that I have encountered.
1. The package I purchased said that I would get access to 80 bookies – which is correct but then when you receive your training they advise you that they only use about 20 of those bookies.
2. All the bookies do have limits on the size of the bet you place (generally about 250 euro) but you cannot always find out what that limit is until you go to place the bet. I trade in Euros and I have had some bookies limit my bets to as low as 4 euro. Several won't accept anything higher than 30 euro. This usually occurred after I had already placed the first bet which leaves you in a pickle.
3. Some bookies charge a fee to withdraw your funds – but not many – mainly the german bookies.
Some bookies will only take bets in US$.
4.I have had several experiences where I place a bet and then later during the day they send me an email to say that the odds were wrong – they refund your money but leave you with an uncovered bet. Occasionally I have been lucky and the bet was a winner. Several times the opposite happened and I made a donation to the bookie.
5. None of this was explained to me when I bought the program – it has all come by experience.
I have made over 100 trades now and the system does work but at the rate I'm going it will be some time before I have paid for the program let alone make any real profits.
6. One big hassle I am having now is that Softech promised a daily email with the trades that they were taking – I have not received one yet in the four months that I have been trading – I have emailed and telephoned and they say they cannot understand why I'm not getting the emails but nothing changes and another week goes by. I paid the $11,800 instead of $6600 thinking that it was abetter deal but that is not the case.The sales guys at Softtech were one the phone to me on an almost daily basis until I bought their product – now I am having trouble getting any bastard there to provide me with what I paid for.
