December has got off to a super start with profits across Horse Racing, Football and this evenings Boxing match which I had no intention of getting involved with.The football P&L is a little lower then the months Homer P&L to the right due to a losing non Homer trade.
I was watching the WBA middleweight clash between the champion Sturm and outsider Murray. Sturm got off to a good start but Murray was slowly coming into it and by the end of the ninth round I had them level. I had a look at the market at that point and Sturm was trading around the late 1.30's and the draw was 42's. First thing I did was look to see if I was watching the fight live or was my Sky Plus running behind! No, everything was in order and I just couldn't believe how the market and priced the fight up. To say there was value was an understatement!
I don't know too much about the Boxing market but my eyes are in good working order. So I placed a lay of £50 on Sturm and popped a tiny £1 back on the draw which added to the amount from the lay. Perhaps in hindsight I should have lumped on but I wasn't totally comfortable as this sport is one that I rarely get involved with.
At the end I thought that Murray had just done enough to win but was extremely pleased to find that the fight was a draw and a nice £90 profit. You can see below that even after the fight had finished Sturm was 1.25.