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Early Big Wins Changed His Path
- Andrew Black hit big wins early in his gambling life, including a fruit machine jackpot and big horse bets.
- Those wins funded racehorse purchases and led him to quit work and gamble professionally for a time.
Built An Odds Model, Hit Limits
- Andrew Black built a football odds model and used it to find value against poor bookmaker pricing.
- Bookmakers started limiting his stakes, which pushed him to seek different ways to access betting markets.
Boredom Produced The Betfair Idea
- Long stretches of boredom at GCHQ let Andrew Black free-associate and refine the Betfair idea.
- He iterated on the concept mentally until he was convinced it could work as an exchange.