Idol Bets

In an event that surprised none, David Cook won the 2008 American Idol competition. While IdolBets.com does not care one bit about his future career, so don’t expect to hear much about him from here on out.
We have been touting David Cooks shares since the inception of this site (and many weeks prior to this site going online). For our SimPicks, we had purchased 8 shares of him. Since we also bough shares of other contestants, we missed out on some profit but it’s all part of a hedging strategy. Overall, I suggested $398 worth of investments that netted $800. A solid 101% return on investment (ROI). Not bad in a bear market. Of course, you could have invested more or less depending on how much you wanted to throw around.

Since the work on this site is done for the season, we’ll be shifting our attention to more strategy-based posts. I may even post a premium e-book on how to bet this show. If you have a pretty good ear for talent, don’t get caught up in people, and are generally disconnected from the show, it’s not that difficult to make a killing. I want to get into some slightly more advanced betting strategies and get more into live betting to really take advantage of volatile prices. The season-finale was a great indicator of how volatile things can get towards the end. With 2 clear-cut finalists this year there wasn’t quite the shifts there could have been in round of three and four so hopefully I can get into more detail there during the “off-season”.

My next post is going to be a basic “How To” explaining signing up, getting money into your account, understanding the long-term World Sports Exchange markets and how to get involved in them. It’s pretty easy but there are a few things you should know going in.