Turning £1 into £100

Have had notification from Blue Square that they have released a Web App for the iPhone. I'm not a big gambler in any way but thought that I would try an experiment.

So, is it possible to turn £1 into £100 by making bets based on nothing but the odds. As any who knows me will say that I know nothing about football so obviously that's where my first bet will be.

Why do I have £1 in my account and also for that matter a BlueSq account if I'm not a gambler then?
Well, when I saw Barrack Obama on the campaign to be selected I put some money on him becoming the next president of the USA hence the account. And the £1 is from a bet on Norwich to win against Leeds. I withdrew the rest of the winnings with the quid remaining for this experiment.