It is not correct.
"According to John May" should have been your first clue.
Look for some posts on the Sharp Sports board (link on the main page of this board) between Stingray and John May.
Seems John May tipped the guy off to a on-line promotion worth THOUSANDS. Stingray played it for 8 hours and made 40 pounds, or 5 pounds per hour.
Also, Stingray was making football middle bets +1/-1, thinking he would win both bets if it was a tie. Poor guy didn't realize in American Football, ties are really rare. John May felt the bets were an 'interesting experiment' for Stingray.
I guess may has only been giving the guy advice for about a year, so he is not completely ready for the funny farm yet.