Tried this a while back when I signed on to
Bet365 (First betting site i joined up to)
the idea is, Take a bank, £10 for argument's sake, and bet is on an outcome. Repeat this 3 times, then, assuming you pick 3 winners, start again.
Ex.
Bet 1 - £10 @ 1.5 - Team A to beat Team B - £15 Returned
Bet 2 - £15 @ 1.3 - Team A to beat Team B - £19.50 Returned
Bet 3 - £19.50 @ 1.5 - Team A to beat Team B - £29.25 Returned
£19.25 Cleared Profit.
Then start again from £10.
I'm going to "paper trade" this for a while, to see if i can have success with it before doing it for real.
Bet 1 - £10 @ 1.67 - FC Koln to beat Kaiserslauten - Pending