Long Term "Investing"

[coolkat]

Hey Guys, Without any current examples, I was looking at betting on the long term competition winners markets as a way of providing a return on a large sum of money. For example, last year I was looking at betting on a multiple inclusing Juventus, Chelsea, Barcelona and Bayern Munich with about one to two months to go at multiple odds of around $1.40 - $1.80 (say 40%). Now this turned out to win and the annualized return is 752% (much greater than the stock market). The correlation of this asset with the stockmarket is 0 for those portfolio experts anomg us so it will reduce portfolio risk. You can also always trade out by later laying at betfair or taking Juventus, Chelsea, Barcelona and Bremen should Munich look like losing. My question is; has anyone tried an strategy like this and are there any pitfalls, suggestions, other league/sports? I know the inherant risk in choosing the teams but for example, Lyon will win the French league and if they remotely look like losing, you'll still get good odds for the challenger. All the best, Mark