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bobovieri
21 Feb 13 10:00
Joined:
Date Joined: 13 Jul 08
| Topic/replies: 8,098 | Blogger: bobovieri's blog
I'm pretty sucesfull and month by month I can make good profit here.

But, I wanna know some experience from people who are here full time, betfair professionals.

1. How your life is?
2. Minus and plus of that kind of life (I don't think about money)
3. Is harder to bet when You know that betfair is only way to make a money?


Thanks in advance...
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Report 1.01 Layer February 21, 2013 1:24 PM GMT
Only you will know if you can do this full time. It certainly helped me to stop thining of it as "betting" and start thinking of it as "trading" and adopting a totally professional approach to my activity on here and elsewhere.
I understand that Betfair are considering altering the structure of PC to reduce the impact on smaller full time players but nothing is definite as far as I know.
Good luck with whatever you choose, bobo.
Report bobovieri February 21, 2013 1:29 PM GMT
Thank You very much 1.01 Layer... You help me a lot
Report Ivor February 21, 2013 1:30 PM GMT
Been FT since June 2003 after 28 year retail career - best decision ever made with wife's full support and agreement.
Could NEVER work for anyone else now - not that they'd have me after a decade of apparent nothingness.
Not greatly missed working comradeship - probably just a little.. liked the go-karting events, and xmas does etc... but MORE than exceeded by the benefit of freedom to work days, weeks, months and holiday when and where I like. Still see old colleagues time to time and pass the time of day with staff in the area. I work 340 days per year, and about to away to 5* Costa Sol for a week in March (first of a few weeks away this year).
My banks financial advisor furious I won't take up his offer of 0.4% net interest per annum and double my money in 175 years lol.. still.. he drives an old Astra!
IF you can make it - and so very few do - it's the bestest occupation on the planet!
Betting bank +0.32% so far today.. probably carry on with a couple of horse-races but don't need to and the rest of the day 'mine'.

My goal: millionaire at 65 in 5 years and ten months and give half away to daughters. 
Best wishes bobviere! Ifor.
Report cragihol February 21, 2013 1:33 PM GMT
I agree with 1.01s comments they pretty much echo what I would have said. I've done both gave up job to go full time on her for 3 years and then went back to work part time and doing this as well.   Just to reiterate that there is a bit more stress being solely reliant on it for an income and from my point of view the irregularity of the income (even though in total it added to much more than my full time job) was something my wife found hard to cope with.  We tended to spend the money when it was there with the attitude there will always be more  and then find there were times when we had nothing.  Good management and keeping money aside to give yourself a steady monthly amount is wise I think.  Also as most sport is on at weekends and evenings when things aren't going well you tend to spend half your life on bf and the most antisocial times so managing your time also important (look at the hours you put in and what you get out)  For these reason I went back to a part time job combined with this for me I think  is the best balance in terms of the children seeing me going out to work and having some kind of regular income but the drawback as 1.01 says is you get distracted and miss stuff especially if you trade on cricket.  having said that if you can get it to work, working from home flexibly and spending more think with your loved ones and watching sport all day is a luxury not many have and I love it.  I liken this more to trading on the stock exchange than gambling its just assessing risk on sport but trying to get other people to understand that is as you both say impossible.  They think you gamble.
Report Ivor February 21, 2013 1:35 PM GMT
I'm totally open with everyone locally about what I do - but as you already know you get the glazed eyes look 'didn't think that was possible' 'is it legal', 'why doesn't everyone' etc.
I've even offered to show a few 'how to' by sitting with me for a few hours - but it seems they all prefer to wrok for 40 hours a week and pay taxes. I think the new Jaguar on the drive pissed more than a few off. Grin
Report 1.01 Layer February 21, 2013 1:45 PM GMT
Ivor makes a good point about Mrs Ivor. I couldn't do this without the full support of my wife.
I also find that it helps to be honest with people too... except lenders.
Report bobovieri February 21, 2013 1:48 PM GMT
Guys, first of all, Thank You for your experience...


My big plus here is I make money usually till 4-5 pm and I have all evening for myself, my friends, wife and kid.

I give up of talking people that I am not a gambler and tired od guestions like "what will hapened when luck is turn around"?

I enjoy when I'm on betfair, It's not job for me, It's pleasure.
Report bobovieri February 21, 2013 1:49 PM GMT
My wife told me 1000 times "Quit job!"
Report Ivor February 21, 2013 1:51 PM GMT
Haha - wish I had a £1 for every time I've said ''I'm NOT a gambler and nothing like one!''
Report Deltâ February 21, 2013 2:27 PM GMT
news flash - Ivor just layed a 20/1 winner, however profit on day now stands at +0.340125114552159662147%
Report Ivor February 21, 2013 2:35 PM GMT
+0.356 actually.. backed Dreams of Milan
Report Ivor February 21, 2013 2:40 PM GMT
******* IP    1 x 4 x 5 x 9 x    £43,626.09    £43,624.60
******* IP    2 x 5 x 6 x 5 x    £10,000.00    £10,000.00
******* IP    3 x 4 x 0 x 5 x    £11,620.03    £14,714.57

thats just three of my current accounts for cynic Delta's benefit
Report Vidocq February 21, 2013 2:47 PM GMT
When I started betting here, at the time i didn't have a job but some spare money aside, now I have come to the level that Betfair is my only and primary full time job providing me some very good income and I like it. Never come to me to go back on regular jobs because all around I see so many unhappy i miserable people doing so, but still they afraid to try this, never know why people go with line of least resistance and be miserable, i think they are afraid to risk and don't have courage, but still they don't know that as you can fall here that as the same you can get fired from the job. As i was trying to convince some people about this and to join, for them i was a gambler and as one said here their answer is 'what when luck turn around', so pesimistic views. Mainly, this i see as all other job, conecting it with like trading stocks, the same principle, have so many free time, my freedom to do what i want and when i want, to travel, be carefree. And I have give up to talking people about this and trying to help them, just making money and living my life :)
Report bobovieri February 21, 2013 2:50 PM GMT
Vidocq, your post can't help me to keep my job... Laugh


Thank You very much
Report greedkillsmybankagain February 21, 2013 2:53 PM GMT
ivorpleaseshowme'howto'
Report charlatan February 22, 2013 10:13 AM GMT
I understand that Betfair are considering altering the structure of PC to reduce the impact on smaller full time players but nothing is definite as far as I know.

i await this with no great expectation as every change they've made in the last five years seems to have been designed to screw us. i'm becoming ever smaller time while approaching the 250K cliff and looking to increase my income elsewhere.
Report Rueben February 22, 2013 12:14 PM GMT
Anyone approaching the higher rate PC needs to open a bet quack account and back and lay between the 2 sites - you will end up paying 3% commission to bet quack on winning bets on there but believe me that is a small price to pay when faced with 40/50 or even 60% off takes from Betfair.
Report Coachbuster February 22, 2013 1:48 PM GMT
As my only source of income, it's just more stressful than before as there's nothing to fall back on. I can hardly complain though as overall, I'm earning twice what I did. It's just not as a regular monthly cheque.
___________

yeah,this is the problem i have and it's hard to convince folk you're doing the right thing ! some folk think working as a gambler for no pay for weeks on end in brainless - however like yourself ,in the big scheme of things i'm much better off at the end of the year each year .
I guess its about long term stability,some like the regular pay and security ..if i fail i'll just sell the house and sleep under a bridge ,i'm not proud Laugh
Report Coachbuster February 22, 2013 1:53 PM GMT
1.01 layer ,if you're a relative newcomer then the higher pc won't be a problem for years on end for modest achievers ,and i don't think the exchange will be around in the present format by then anyway .

obviously if you're caught up in the higher charge from 2001/2/3 then i guess you have had 10-12 good years where you have avoided it anyway
Report Coachbuster February 22, 2013 1:54 PM GMT
assuming BF don't lower the bar of course
Report Vidocq February 22, 2013 3:16 PM GMT

Feb 22, 2013 -- 1:48PM, Coachbuster wrote:


As my only source of income, it's just more stressful than before as there's nothing to fall back on. I can hardly complain though as overall, I'm earning twice what I did. It's just not as a regular monthly cheque.___________yeah,this is the problem i have and it's hard to convince folk you're doing the right thing ! some folk think working as a gambler for no pay for weeks on end in brainless - however like yourself ,in the big scheme of things i'm much better off at the end of the year each year . I guess its about long term stability,some like the regular pay and security ..if i fail i'll just sell the house and sleep under a bridge ,i'm not proud


Isn't just the same when you have a standard job, if you get fired you don't have nothing to fall back on to, and if need you will must sell the house too, am I right? There is no more security in anything, everything is shaky, the thing is when you work for someone you don't need to think how the firm is going, is the business stable, do they have the money for work and paychecks, and so on, you just come every day on the same place, doing same work, from 8 till 5, go home and then doing your work withouth thinking about your job, it is more casual for you, but in this betfair job you are always familiar with your financial situation, it is only your decision what move to make, only your responsibility will you win or lose, everything is on your back and you live with this job 24/7 and go to sleep with, and I think most people is afraid of that, that's why they say entrepreneurship is not for everybody, only for those who can take responsibility for themselves and other, have guts to risk and believe in self. and the other thing is that your standard job maybe has become a old habit that is hard to get rid of and try something new because that is your secure territory that you only knew, and going on unfimiliar territory is probably scary because you don't know what to expect, and the thing that society don't accept it as normal hampers you, because you have taught from the childhood that working from 8-5 is only thing that is right and listening what others tell you, nothing else

Report buzzer February 22, 2013 4:23 PM GMT
This is true. From a very young age the vast majority are conditioned to work for others and conform to what is expected of you. Later in life you feel, for the sake of the family you need to support, that you should just plod along and 'this is your lot' and it's too late for you now because you have others to think of. It's all a load of bolox but the powers that be need you to be conditioned this way Wink
Report Coachbuster February 22, 2013 5:40 PM GMT
vidocq very good points , although i have it harder than most because no bugger would employ me anyway Laugh
Report Bayes. February 22, 2013 6:46 PM GMT
1. How your life is?

I've made money on here consistently since 2002. I had a year working part time in 2006 and finally went full time on here in June 2007. Life is very good. I choose to work when I want, I have more money than I could ever have imagined, and I am around for my kids all day, every day. I actually enjoy trading, although it can be all consuming. I tend to be either working or on holiday. I don't cope very well with being at home and not having anything to trade.

2. Minus and plus of that kind of life (I don't think about money)

The plus points are obvious; total flexibility, almost unlimited income if you're good enough, and intellectually challenging and exciting work.
The minuses are less tangible. Not having contact with many other people on a day to day basis is fairly unhealthy long term. The intensity of the adrenaline rush almost every day can be wearing. The stress of losing is sometimes a problem.


3. Is harder to bet when You know that betfair is only way to make a money?

I'm at a point where I just make the bets automatically because I know I'm right on average. I didn't go full time until I was financially secure anyway so the pressure was off.
Report bobovieri February 23, 2013 10:03 AM GMT
Bayes,


"I didn't go full time until I was financially secure anyway so the pressure was off."

It's very usefull, thanks...
Report henok February 23, 2013 1:03 PM GMT
hi Bayes, how long do you spend per week on average gambling and trading?
Report gawdalmighty February 23, 2013 2:18 PM GMT
Excellent points raised by Bayes. I agree totally especially with long term effects, you really NEED to create a balance if you are doing this long term, for health purposes.

On a different note: 'Bet Quack' - As someone mentioned earlier. I have been keeping an eye on the other exchange site and liquidity is slowly growing. As a 'layer' and not specifically always trading, this suits me just fine. Seriously considering putting some of my funds over there.
Report CLYDEBANK29 February 23, 2013 8:56 PM GMT
10 year test.

Do you think you will you earn enough betting in the next 10 years to cover what you would expect to earn if employed up until retirement?  The answer to this should be yes.  If no remain employed.
Report sweetchildofmine February 23, 2013 8:58 PM GMT
my biggest concern would be betting exchanges still existing in ten years time?
Report CLYDEBANK29 February 23, 2013 9:29 PM GMT
Unless you are betting on horse racing 80-90% of your betting will be during the evenings and weekends.
Report Just Checking February 23, 2013 10:31 PM GMT
I'd add my tuppenceworth, if you want a mortgage (or to move) do it now before jacking in any jobs. Mortgage with job > easier than Mortgage with betfair P/L statement.

Secondly, thing about FT on here is that's eggs in your only basket? What if some government changest the tax system to go against what you/we do or betfair change their model to not apply to the way you make a profit and nothing else replaces it?

I'm not sure I'd want to go FT here if I had other options even if I was consistantly well in profit. Especially as the world economy might be crap for years, jacking a job now would be a bad idea imho. Perhaps go PART time, and keep your iron warm on whatever day job you have.
Report takethestand February 24, 2013 2:45 AM GMT
Had my third go at serious full time due to work Visa issues after emmigrating from UK.  Neither of the previous efforts were successful, although both times i made money it was far less than when I was working.

Lasted 9 months, finally making a decent wage but had two major issues.  First, I suffered serious home sickness and although I had all the time in the world, I stayed home trying to work instead of getting out and doing all the amazing things you think the flexible working pattern offers.  Sice going back to work in August, having workmates has cured the homesickness.

The second is being a slave to sport times.  I mainly bet on UK football and being 13 hours off most of the year it means i was working overnight, wrecking my wifes weekend due to my sleep pattern.

Its already been mentioned that the social aspect of working at home and the support of family are issues that need to be solved.  Oh and the bank wouldnt give us a morgage ( a decent one) as I wasnt working.  Crazy thing is that I'm always thinking about the next time I can stop working
Report Ratkin February 24, 2013 3:20 AM GMT
Have been on Betfair from the beginning   and been paying premium charge since the beginning.

Most of the key points have been raised already on this thread , my advice , if you are trading would be that this might not be a great time to go full time , the game is getting harder, there will be less easy money arriving due to the website changes . less people will be losing their money on the exchange.

When i was made redundant in 2003 i went full time for several years , however the isolation and missing that "friday afternoo" feeling had me very bored.  so decided to look for a job that would fit in around betfair , and became a postie (now some of you know who i am ).
     
Between 2005 - 2011 was very active ,  not a huge winner, but enough to buy a house and pay off a morgage within five years , all my winnings just banked as the postie job paid all the bills etc. 

   Since 2011 have bbeen on betfair less and less , now trade larger amounts on fewer cherry picked events. I can no longer be bothered spending seven or eight hours trading just to make 50-100 pounds , day after day.
  Lackmoof betfair motivation due to having mortgage paid , few 100k in the bank and approaching 50 , feel i have earnt a rest. In the early years was putting in 80 hour weeks , for year after year, sacrificed social life etc , luckily the other half has always been very understanding , once she saw the money coming in she was fine with i

Its now that i appreciate the benefit of remaining part time , zero pressure , wife happier that im not spending the day inside with curtains drawn etc .    This week just traded two rugby games and a one day cricket match ,  made about 500 pounds , but wouldnt of been bothered if i had made nothing

  In this climate i would think very carefully before piling pressure on yourself by giving up a job , especially with all the current uncertainty surrounding the exchange.  Better to look for another job with more betfair friendly hours , then you can do both , if you are good enough you should be able to live very comfortably , by living off your wage and banking the betfair profits.

good luck
Report doridoru February 24, 2013 1:36 PM GMT
Very interesting thread...more please...
Report casemoney February 24, 2013 10:21 PM GMT
what initial funds did the FT on here start off with ?
Report sweetchildofmine February 24, 2013 10:39 PM GMT
ratkin are you a new zealand postie?  lippy?
Report smithy91 February 24, 2013 10:41 PM GMT
its been a very worthwhile thread this some great postsHappy
Report shaungoater February 24, 2013 10:59 PM GMT
It cannot be done
Report Ratkin February 24, 2013 11:10 PM GMT
ratkin are you a new zealand postie?  lippy?   That the one :-)

And to answer casemoney , i began with 100 pounds in account and have never had to  top up in ten years..
All trading no betting/gambling
Report theonlywayforward February 24, 2013 11:50 PM GMT
Read a few intersting posts on this thread.
For my experience i was a top flat jockey and am still involved in horses.
Betfair has been a great advantage to all bettors .Making a living from punting has never been easier.
The fact that you make a living from movement is not a hard concept as for most companies in the world rely on you choosing something.What i did find hard @ the start was the restrictions placed on certain people but then quickly realized a huge advantage.As for the pc charge its acceptable considering the alternate.
One bit of advice from me is you should be able to use your skills on an auto basis as this will inform you whether your just day trading or your strategy is good.
My life has changed dramatic because of betfair alot less work and stress free.
Hpoe this helps.
Yours.
Report sweetchildofmine February 25, 2013 8:13 AM GMT
ahh lippy where would i have been without your daily weather reports during the last new zealand tour  Happy
Report TheVis February 25, 2013 11:40 AM GMT
Yes, putting people away with duff info.....
Report sweetchildofmine February 25, 2013 4:40 PM GMT
i only remember decent reliable info  Confused
Report takethestand February 25, 2013 5:04 PM GMT
Ratkin. In NZ myself but betfair account in pounds still linked to uk account.  Obv means limited access to money and current crap exchange rate.  Is there a better way?  helpdesk was not helpful.

NZ weather update.  Dark outside.  Hope this is useful
Report Greg_Gory February 25, 2013 9:29 PM GMT
So how do you all do it then Confused

TELL ME TELL ME ExcitedTongue OutExcited
Report catflappo February 25, 2013 10:16 PM GMT
Like Bayes I didn't leave my job until I was sure I was secure and wouldn't need to go back.  I'd find it impossible now to return to,my previous career and don't rely on Betfair income to pay the bills.  I can't imagine the pressure otherwise.
It's all a question of being in control overall.
Report Don No1 February 26, 2013 2:31 AM GMT
1. How your life is?

Good.  I was lucky in that I was able to trade through uni where I was making decent money so it was natural for me to just go FT when I graduated.  I'm happy trading away, not having the stress of a job in the city.  I've got a very good degree but earn more on here than I potentially would even after top PC


2. Minus and plus of that kind of life (I don't think about money)

There's the obvious benefits of no morning commute, more flexibility, generally less stress than employment. 
The negative for me is that it can be antisocial.  I'm not too bothered about lack of social interaction day on day but I often end up trading at weekends when friends are out together.  Im still young and trying to make as much from betfair as possible so I struggle to step away from the computer sometimes as I know I could be winning more money


I'd say if you're doing well on here, it's very good.  Personally if I was trading on the limit of making a living i'd find it too emotional and prefer to do something else and more secure
Report Greg_Gory February 26, 2013 9:54 AM GMT
CryCryCryCry
Report Coachbuster February 26, 2013 1:10 PM GMT
if you're in a good job with a good salary stay there ,don't come on here trying to make money as well  - you greedy feckers Devil
Report pistachio February 26, 2013 2:08 PM GMT
Laugh
Report Coachbuster February 26, 2013 2:57 PM GMT
Grin
Report chatlame February 28, 2013 12:02 AM GMT
Having a one track mind and good working capacity, then it is potentially to do both.
Report Rob_The_Bantam February 28, 2013 11:22 PM GMT
1. How your life is?

Great.  It was great before but has improved since I started doing this full time.  Been doing it about 4 years now.  My job paid well, but I got fed up with working both with and for complete and utter c**ts.  Redundancy came up, I took it, did this for a bit with a view to either sticking with it or getting another job.  Never bothered doing anything else.

2. Minus and plus of that kind of life (I don't think about money)

Plus has already been covered.  Provides a reasonable tax free income, can do what you want when you want, not answerable to anyone.

Minus is it can be a lonely existence, but if you see mates regularly or have a family/missus it's not massively different from a normal job.  It's also completely wrecked the enjoyment of a lot of sports for me, as I'm forced into watching them.  As others alluded to, if you want to bet on football for a living, it could probably be antisocial - I tend to live life as I would if I had a 9-5 job and make plans without any regard to the sporting calendar, as the thought of building my life around betting depresses me.


3. Is harder to bet when You know that betfair is only way to make a money?


You'll just go into autopilot after a while.  If you're good enough to make money, you will.  It's difficult to comment too much on how it will be for you, as I don't know what sort of person you are.  I don't worry about stuff and pretty much don't give a shít, but that's not necessarily a healthy attitude and I'd maybe start to care more if I had people to provide for/was skint.
Report undern March 1, 2013 12:33 AM GMT
Feedback from me (for what it's worth) .... who is on here full-time but far from a professional ...

1. Life is wonderful .... have a very successful company which pays me a lot (in dividends) and more importantly runs itself - hence I have too much time on my hands so can't resist getting "involved" on BF.

2. The minus is that I treat BF too much like a "game" rather than focused on how profitable it is. Positive is that I can live a life of a "game" trader in my own time, using my own resources without having to justify myself to anyone.

3. Not applicable.

For the ones that are genuine full-time professional traders on here I salute you Happy
Report pistachio March 1, 2013 12:53 AM GMT
I know nothing. Ha.  I would like to say that guy that can hold down a marriage and kids doing this is a better man than me.Single mans pursuit i think.Happy
Report tinkler March 1, 2013 9:11 PM GMT
If your going to go full time ,would recommend setting up a regular IT job as a front and not telling anyone you bet/trade.
Wouldn't recommend trading, would be OK short term but can see it becoming very difficult in the future. The market will eventually
adjust and mince 99% of players.
Report 1.01 Layer March 2, 2013 11:16 AM GMT
Adapt or die I guess, Tinkler. Long term you are right, of course.  That's the nature of a free market - new entrepreneurs will exploit available opportunities and erode each others margins.
Report duncan idaho March 2, 2013 2:24 PM GMT
Don No 1 & Rob the Bantam, do you trade on here purely by following the markets or do you do loads of homework to give you an edge? cheers
Report pxb March 2, 2013 4:21 PM GMT
While not a professional, I do reasonably well here and pay the PC.

Markets change and over time more people (and bots) learn certain edges, and those edges become no longer worthwhile. Don't assume what works for you today will still work next week or next year.

I left BF for 18 months, and only recently returned, and several things I used to do are no longer worthwhile.
Report DonNo1 March 6, 2013 4:48 AM GMT
Just bet inplay duncan, no homework but ive traded thousands of markets and know roughly where the price should be
Report duncan idaho March 6, 2013 5:54 PM GMT
cheers for reply Don....nice work
Report Stringer March 15, 2013 4:19 PM GMT
Ivor if you don't mind me asking, what size bank do you use on here?
Report Ivor March 16, 2013 11:07 PM GMT
At close of business tonight - £7550 ; but rarely dip into it at all.. biggest bet Friday was £110 I think, biggest today £100.
Report sweetchildofmine March 17, 2013 11:00 PM GMT
ivor without giving too much away is most of your trading in the in play horse racing markets?
Report mandarin March 19, 2013 10:59 AM GMT
1 Life is good, very good.

2 I believe its about finding a balance - if you're full time on here you need to maintain your enthusiasm, enjoy what you do. Early days I ended up locked into Betfair 24/7 & that almost killed my enthusiasm, despite the profits. A major rethink had me cut work hrs dramatically & enthusiasm and appetite returned - basically, you need a life away from the puter.

3 If you reach the point where Betfair's your only income then you're rather good at what you do, confident that you've got an edge - maintaining that edge the challenge - if you have to overstress about individual bets then you likely not a full time professional.
Report Coachbuster March 19, 2013 1:23 PM GMT
agree with mandarin 


enjoy what you do


get a nice balance  of efficiency - i spent an extra  20 hours on here in 2011 betting on low liquid  football fixtures which amounted to around £2 an hour in net terms

would have been better off  working part time for a mere 5 hours  and gambling 20 fewer hours ,plus a greater variety
Report sweetchildofmine March 19, 2013 5:12 PM GMT
good point coach, you need to work out your hourly rate if youre spending that much time on here...test matches i can be at the computer for up to ten hours a day, its often well worth it though, however some football markets ie the correct score lays arent as fruitfull
Report Coachbuster March 20, 2013 12:31 PM GMT
Sweetchild - Cricket test matches sound pretty interesting for betting purposes, although Cricket is the one sport i've never really gotten into (nor bet on for that matter) ,imagine it must be quite lucrative  Wink
Report sweetchildofmine March 20, 2013 1:44 PM GMT
coach if i had the will power to specialize purely in cricket markets, i would be a big winner on here..golf to a lesser extent, but its the trades on other sports ie football ( small loss) and horse racing (substantial losses) that put a hole in the profits..im sure that will change though, im gradually changing that
Report Coachbuster March 20, 2013 2:06 PM GMT
i  guess another problem is finding enough test matches Grin
Report sweetchildofmine March 20, 2013 2:07 PM GMT
theres always tests on usually, but then you have 20/20 matches which are also great to trade
Report Coachbuster March 20, 2013 3:41 PM GMT
i didn't realise that sweetchild -  good luck anyway , sounds a good little number
Report CASHINVEST March 21, 2013 12:09 AM GMT
PMSL AT THE DREAMERS ON THIS FORUM




BUNCH OF LOOOOOOOOOOOOOOOOOOSERS
Report sweetchildofmine March 21, 2013 12:13 AM GMT
heres another one ..where on earth do they come from
Report racingguru March 21, 2013 2:28 AM GMT
Not a Betfair full-timer as find this place much harder to win at than bookies (for horses) as no liquidity here but am a "pro" in that gambling is my only income. In reponse to the OP.

1 - Life is much better in that time is used more efficiently. No wasted time commuting etc and you are the master of your own destiny. No more office/work politics to needlessly occupy your mind.

2 - Minus points - Interaction with people, keeping belief and patience when going through a bad run,harder to get mortagage etc, social stigma and obviously no guarantee of income.
  - Plus Points - No one to answer to, manage your own time, more efficient use of time, more time off (dependent on if you specialise), financially better off if you are good.

3 - I was part time for many years before going full-time pro and yes it is "harder" when you know gambling is your only source of income in that the pressure is more. This feeling lasts for a year to year and half then like all things you get used to it. Obviously you need to plan well for the bad run especially if you deal with volatile sports like horses where you can long bad runs.

One negative point and think you might want to bear it in mind is that its pretty much a black hole when you enter in to full time pro gambling in that you'll find it very hard to get into any other employment and you won't have the desire to do any "regular" work. Its just hard to have the mentality to work for $X an hour when on a good day you could easily make what people make in 1-2 months.

Hope that helps. I've been pro for almost 5 years so if you have any further questions PM me.
Report JetLoneStar March 22, 2013 3:41 AM GMT
I started my attempt to go pro about 5 months ago and these are my experiences thus far.

1. It's obviously better being you're own boss, waking up when you want and not answering to anyone.

2. Interaction with people or lack there of; pressure that comes with BF being your sole income, not to mention the mentally draining bad runs. Sometimes I do wonder whether it's all worth it, but on a good day it's clear that if successful it would be a far superior way of life.

3. Definately harder knowing that you 'need' to make a profit. Im an in-running player and whereas before I would instinctively click a bet knowing the result didn't affect my greater life, now i'm fully aware of the consequences, and as such this can make split-second decisions alot harder to make.

Overall Ive made a steady profit each month, although im only 60% of where I planned to be; I put this down to the lowering of the stakes I initially planned to use as I found myself dodging bets when using the larger stakes. Hoping that as time goes on my 'balls' will return as the steady consistent profit shows me Im capable of making this work.

Anyway im just getting started so best to listen to some of the vets on here, just my 2c :)
Report Biscuit1979 March 22, 2013 11:13 AM GMT
Does anyone on here forsee a time in the near future where betfair might end up banned in this country too? Slowly but surely more and more countries are banning it. Obviously there are ways round it for now but if it was ever banned in the UK, that'd be the end.
Report use2begudear March 22, 2013 11:21 AM GMT
Why would it be banned in the UK ? We allow betting shops to populate our high streets taking millions of pounds from FOBT's while any punter that is seen in any way to be succesful won't be able to get more than a tenner on Laugh
Report Biscuit1979 March 22, 2013 11:28 AM GMT
why is betfair banned anywhere?
Report sweetchildofmine March 22, 2013 4:13 PM GMT
bookies are banned in some of those countries biscuit, down to each nations government legislation
Report racingguru March 22, 2013 5:55 PM GMT
Not that it will ever happen but if BF were to go it would be good for early price horse punters in that bookies would make even more ricks than they already do.
Report sweetchildofmine March 22, 2013 6:19 PM GMT
whether or not betfair survives, i think exchange betting is here to stay
Report sweetchildofmine March 22, 2013 6:20 PM GMT
as an aside i stepped into the bookies today, first time in ages and couldnt stay more than 5 minutes..what a soulless place, fruit machines and roulette ringing in your ears and the horse racing turned right down and barely audible
Report mikenz March 22, 2013 9:48 PM GMT
making a living, spose you could but gee it would be a hard way to survive, need to have plenty of equity to start , would you risk it all?
Report mikenz March 22, 2013 9:49 PM GMT

Mar 22, 2013 -- 7:20PM, sweetchildofmine wrote:


as an aside i stepped into the bookies today, first time in ages and couldnt stay more than 5 minutes..what a soulless place, fruit machines and roulette ringing in your ears and the horse racing turned right down and barely audible


i actually cant really be bothered with hearing race commentaries these days, gets on my wick

Report racingguru March 22, 2013 11:02 PM GMT
Mikenz - making a living, spose you could but gee it would be a hard way to survive, need to have plenty of equity to start , would you risk it all?

Not sure what you'd define as plenty of equity but I started out betting at pro status with 20k and that for "value" pick horses where you can go long runs without winners. It's more about how much turnover you can generate at acceptable risk levels with that bank. I think for sports 10-15k would be sufficient to start and if that's "risking it all" you shouldn't be betting in the first place.
Report Coachbuster March 22, 2013 11:32 PM GMT
racing guru - that was an excellent post @ 02.28  - could not have put that any better myself  ,all the points raised are very valid imo
Report sweetchildofmine March 22, 2013 11:34 PM GMT
i particularly liked jetonestars post
Report Coachbuster March 22, 2013 11:36 PM GMT
yes - interesting 5 months  , wish jetlonestar all the best of luck
Report Coachbuster March 22, 2013 11:37 PM GMT
sweetchild -  i haven't been in a bookies since the dispensed of the massage chairs  Laugh
Report Coachbuster March 22, 2013 11:37 PM GMT
they * Grin
Report sweetchildofmine March 22, 2013 11:46 PM GMT
massage chairs....ours had deck chairs  Surprised
Report Coachbuster March 23, 2013 12:15 AM GMT
Grin
Report kt22 March 23, 2013 10:41 AM GMT
English run,they have a knack of sucking all hope and dreams out of a corpse.
Report smithy91 September 11, 2013 12:38 PM BST
Just read through this excellent thread! Would be suprised to see the company I work for last another 12 months! :(. Any updates on how things have gone?
Report funkymonkey September 11, 2013 10:11 PM BST
I have been a part-time "pro" on here for 8 years and one comment I often hear mentioned on these type of threads is how if you go into this line of work, then your resume will read like a big black empty space that will be of detriment to future employment.

I have never agreed with that belief. It is perfectly possible, in my view, to pick your hours when doing this, and continue other ventures and I think given the lifestyle of trading, it often attracts the kind of character who would always choose self-employment over working for a company anyway.

That is certainly the case for me. I have spent almost my entire adult life creating businesses and then selling them and then creating something else, the passion being in the creation of it, not so much in the financial reward.

It would never cross my mind that there isn't a job opportunity ahead, because i see those as self-created avenues.

I guess what I am trying to say is, if there is a doubt in the mind regarding a lack of CV credentials due to dedicating a lot of time to something like trading, maybe this means it isn't a choice that would really align with that persons personality.

Likewise with the solitude aspect of working alone hour after hour. Personally I love that, but most people do not. I think it takes a certain kind of "oddball" to really love doing this, and I am happy to include myself in that category.
Report dizzydavid1 September 12, 2013 3:19 AM BST
Interesting thread, with, apart from Ivor, a refreshing lack of boasting. Fair play to all those clever enough to make a living from betting. I've been here over ten years but I could do another five decades and I'd still never make a living from it. Miraculously I'm in lifetime profit here but it'd probably work out at an hourly rate far less than a char wallah was earning in Imperial India.
Report raspberrybottom September 12, 2013 11:34 AM BST
I've been on here just coming up to eight years - and I still find it fun !

And that's what I think is most important. I don't make a living here but win often

enough to stay focussed. I've often thought of going "part-time" and, due to a change

of circumstances that mean I could be coming into a bit of money soon, I might give it a go.

June, July and August have been the best three months I've ever had on the horses so I may be

getting a bit carried away but it's time I had a real go at this. I also bet on football (unders/overs)

and I think the winter all-weather racing can be very lucrative. Most of my threads (the darts one

and the rollercoaster, etc) are meant in fun but the serious methods I use lead me to concentrate

mainly on horses at 8/1+ with plenty of double-figure selections. As has been said earlier long

losing runs are worrying and that's my main concern.
Report gawdalmighty September 12, 2013 11:56 AM BST
Likewise with the solitude aspect of working alone hour after hour. Personally I love that, but most people do not. I think it takes a certain kind of "oddball" to really love doing this, and I am happy to include myself in that category.


My sentiments exactly, funkymonkey
Report Stringer September 13, 2013 11:37 AM BST
why is betfair banned anywhere?


tax
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