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jimk
29 Aug 13 12:02
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Date Joined: 17 Feb 03
| Topic/replies: 327 | Blogger: jimk's blog
Answer some questions please!  I want to read about your success.

I started making a small fortune when Betfair started.  Trading, that was the game!  Easy money.  After a couple years it all turned on it's head and over the space of a couple weeks I just started losing and that was that.  I've tried many things since, but can't cut it.  Not given up though :)

Give me some success stories and tell me how you're getting on now.  If you're making money at this game now, I salute you.  I just want to read that it can be done!


1.  How do you make money?  Gambling or trading?
2.  How much do you make on average?  If you don't want to say exactly, then a) under £15k b) £15-25k c) £25-40k d) over £40k
3.  Is it seasonal?  Do you make more money at certain times of the year?  What ratio?
4.  How are you getting on this year compared to previous years?
5.  What's the best advice you have?
6.  Do you think the effort, stress, uncertainty is worth it or would you be better off working 9-5?

Thanks in advance.
Jim

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Replies: 59
By:
Burton-Brewers
When: 29 Aug 13 12:06
1. both
2. a
3. more during football season
4. much the same
5. keep off the politics forum
6. yes as I am a dosser
By:
Ivor
When: 29 Aug 13 14:30
1. LAYing
2. a
3. Every day the same
4. Same in %/principle - more in cash
5. Acorns to Oaks
6. What is 'stress' please?
By:
Capt__F
When: 29 Aug 13 14:32
5 test the ladies with a Yorkie
By:
Makybe_Diva
When: 29 Aug 13 14:35
Plain
By:
Percy Filth
When: 29 Aug 13 14:39
Deja Vu
By:
Ivor
When: 29 Aug 13 14:41
Where/when is it running please?
By:
Ghetto Joe
When: 29 Aug 13 15:06
1) Trading
2) D
3) Surprisingly not, I'd have thought with more racing I'd have made more in the summer months but seem pretty even , maybe those fewer races in the winter suit my style better.
4) Think the glory days are long gone especially with more people chasing the dwindling amounts available and many are happier to earn less with tighter margins.
5) Don't get greedy and only play when you know you have an edge over the market, there's hundreds of races/matches everyday just bide your time, you don't need to get it all in one day.
6) It's certainly not how I'd envisaged things would be years ago, so if you think you'd be living the dream making money gambling I'd give it up now. Better than 9-5?? For me it is, although feels like I may as well be working for Betfair anyway every time I see the amount of comms I've paid.
By:
dustybin
When: 29 Aug 13 17:53
1.Value Lays and backs
2.d
3.Cut my teeth over jumps but now prefer summer, short sharp IR hits with frequent racing, nowt worse than 3 or 4 horse races in sh1te weather in dark middle of winter over 3 miles
4.Only thing handicapping me is the greed premium tax
5.Patience
6.Ill never work for anyone again
By:
dustybin
When: 29 Aug 13 17:58
6.2. Ive watched cammeron squirm all afternoon, and if that is what you have to do for around 120k a year you can keep it ta.
By:
collywobble
When: 29 Aug 13 17:59
I'm two weeks short of 10 years, so don't qualify.
By:
Foinavon
When: 29 Aug 13 18:28
1)Bit of both but only bet on Test cricket
2)a
3)There's more cricket during the northern hemisphere winter than summer
4)Much the same
5)Specialise
6)I'm retired and just do this for fun
By:
Coachbuster
When: 29 Aug 13 19:00
1.  How do you make money?  Gambling or trading?   -
Dutching
2.  How much do you make on average?  If you don't want to say exactly, then a) under £15k b) £15-25k c) £25-40k d) over £40k
Sorry ,can't say
3.  Is it seasonal?  Do you make more money at certain times of the year?  What ratio?
9 months -football season
4.  How are you getting on this year compared to previous years?
too early to tell - last season was my poorest since 2007/8 ,2011/12 was by best to date 
5.  What's the best advice you have?
Stay with your day job if you enjoy it and it pays well.
6.  Do you think the effort, stress, uncertainty is worth it or would you be better off working 9-5?
Effort and stress is minimal compared with real life work imo, and uncertainty i'm afraid is part of  every day life -losing largish sums though is a horrible feeling  -but otherwise gambling is different and sometimes great fun with an adrenalin rush as a boost   (if you like that sort of thing ) Hours are unsociable during the dead of winter .
By:
Coachbuster
When: 29 Aug 13 19:03
wish you all the best of luck this year jim ...never give up
By:
Foinavon
When: 30 Aug 13 08:04
Having spent 40+ years working and paying taxes I can agree with Coachbuster's comments regarding the stress of real life employment. If I could have my time again,I would be on the dole with a "bad back".
By:
jimk
When: 30 Aug 13 09:13
Great to read the comments so far and the different approaches and views.

Keep them coming!
By:
jimk
When: 31 Aug 13 16:10
Is that everyone?  Can't be surely!
By:
Ovalman.
When: 31 Aug 13 17:23
1.  How do you make money?  Gambling or trading? Poker
2.  How much do you make on average?  If you don't want to say exactly, then a) under £15k b) £15-25k c) £25-40k d) over £40k a)
3.  Is it seasonal?  Do you make more money at certain times of the year?  What ratio? Play low stakes but play 8-10 tables at a time. Sit and Go's mostly but a little Limit cash. It's all year round.
4.  How are you getting on this year compared to previous years? This will be my breakthrough year, close to my best already but I know so much more. I can play many tables at a profit. I had a good private conversation with a forumite poker pro that's given me the push.
5.  What's the best advice you have? Poker is a short term game of luck but a long term game of skill. Never risk what you can't afford to lose. Only risk a small proportion of your bankroll in any one bet or game (bankroll management). Start at the bottom and work up, not the other way around. Use tracking software. Always analyse and work on your game. You don't have to be the best in poker to make a profit, just make less mistakes than your opponents.  I could write a book on tips BTW.
6.  Do you think the effort, stress, uncertainty is worth it or would you be better off working 9-5? I love the game although I'd make more flipping burgers. Yes it's worth the effort, my current PC and a week in Brussels were paid from profits, I'm off to a €230 live game in Dublin in October entirely financed from a zero deposit. Splurge yourself once in a while and enjoy your hard earned efforts. Re-investing profits can make sense but if you never spend it then what's the point?
By:
i_agree_with_nick
When: 31 Aug 13 17:49
Oval - I don't play poker but I remember reading that a lot of good players are getting bankrolled by investors.

As you say, if you have the skills, you can lose in the short term but in the long term it can be lucrative if you have the funds
By:
Ovalman.
When: 31 Aug 13 18:29
Bankroll does mean a lot and why I don't play higher. £1k means a lot to me but for me to play $22 games, that's how much I'd need in my account. Instead I float around smaller stakes and play more tables where the competition is softer.

I'd never be bankrolled though, I'd feel too much under pressure but I do know of at least one very good high stakes pro that sells himself to a mark up. It makes sense because the mark up gives the player a cushion while the investor has a good player that can win him some serious cash. There are many better players than me that know the game inside out but you don't have to be the best to make a profit, just better than your opponents.
By:
guinness2dear
When: 31 Aug 13 19:16
1. Gambling
2. Nosey twot
3. Winter equates to upwards of 80% of my yearly earnings.
4. Winning less than previous years as i have cut down.
5. Never change your mind about a person, or a horse.
6. You are joking?
By:
lmfao
When: 31 Aug 13 20:10
This is all you have to do- don't try and win every time Cool


Horse Racing: £314.01 | Soccer: £14.74   Total P&L:  £328.75   

 



Horse Racing Showing  21 - 33  of 33 markets


Market Start time Settled date Profit/loss (£)
Horse Racing / Newt 31st Aug : 2m5f Hcap Chs 31-Aug-13 15:55  31-Aug-13 16:00  85.79
Horse Racing / Sand 31st Aug : To Be Placed 31-Aug-13 15:50  31-Aug-13 15:56  19.48
Horse Racing / Sand 31st Aug : 1m2f Hcap 31-Aug-13 15:50  31-Aug-13 15:55  0.51
Horse Racing / Bev 31st Aug : 1m2f Hcap 31-Aug-13 15:40  31-Aug-13 15:43  -37.36
Horse Racing / Chest 31st Aug : 1m5f Hcap 31-Aug-13 15:30  31-Aug-13 15:35  53.46
Horse Racing / Sand 31st Aug : 1m Grp3 31-Aug-13 15:15  31-Aug-13 15:26  9.31
Horse Racing / Bev 31st Aug : 5f Hcap 31-Aug-13 15:05  31-Aug-13 15:07  87.32
Horse Racing / Chest 31st Aug : 7f Hcap 31-Aug-13 14:55  31-Aug-13 14:59  11.30
Horse Racing / Newt 31st Aug : 3m2f Hcap Chs 31-Aug-13 14:45  31-Aug-13 14:52  5.77
Horse Racing / Sand 31st Aug : 7f Grp3 31-Aug-13 14:40  31-Aug-13 14:43  -62.54
Horse Racing / Bev 31st Aug : 5f Listed 31-Aug-13 14:30  31-Aug-13 14:33  12.73
Horse Racing / Chest 31st Aug : 5f Hcap 31-Aug-13 14:20  31-Aug-13 14:22  45.27
Horse Racing / Newt 31st Aug : 2m1f Juv Hrd 31-Aug-13 14:10  31-Aug-13 14:14  2.39
By:
MC Roller
When: 31 Aug 13 21:10
1. I lose money, gambling. I'd rather give up than trade though.

2. See above, and even if I did win I wouldn't be listing it here.

3. Christmas day is good. Never lost on christmas day in all my time gambling.

4. Going ok, but that can all change very quickly.

5. See above. What can a useless clueless loosing mugg offer in the way of useful advice, and anyway, who listens to advice on here.

6. I prefer working, cleaning tall buidings, no uncertainty there.
By:
sideshowbob
When: 31 Aug 13 21:23
gambling is four loosers
By:
History Maker
When: 31 Aug 13 21:46
I'll keep this shortish.

Been on for almost ten years.

Was up until 2011, then took a shocker (William Buick responsible for the biggest single loss).

Have had to go back to a proper job now.

Don't really mind. It's actually quite nice to go back to actually working.
By:
kenny mann
When: 31 Aug 13 23:19
It's extremely easy to win money on the horses IF you can get your bets on, that is the hard part.
By:
thegiggilo
When: 31 Aug 13 23:41
1.  How do you make money?  Gambling or trading?
Backing winners consistently,hardly use betfair bar a bit of trading when bored!


2.  How much do you make on average?  If you don't want to say exactly, then a) under £15k b) £15-25k c) £25-40k d) over £40k


You need more 0's.
3.  Is it seasonal?  Do you make more money at certain times of the year?  What ratio?


No it's a constant win more or less all depending how much time I put in 16 hour days for 12 years...
4.  How are you getting on this year compared to previous years?

Last two seasons have been best ever last season this could be best ever season but getting anything decent on with books I treat as a joke now so it's becoming more of a game..
5.  What's the best advice you have?

Don't bother wasting time trying if you havn't the knowledge and aptitiude and willing to spend every minute thinking about the racing even 2/3 days in advance and putting in those 16 hour days!!Shocked
6.  Do you think the effort, stress, uncertainty is worth it or would you be better off working 9-5?

Anyone who's anygood at winning are always stressed not from losing but from not being right all the time and that's where the perfectionist and drive come from and that's why this thread will very unlikely have true winners on it.
I made more in my first 3 years than 20 years of working last year I made that amount Cool.
By:
kenny mann
When: 31 Aug 13 23:45
thegiggilo knows his stuff, that's for sure.
By:
Mc Moonbeam
When: 01 Sep 13 00:01
Anyone who's anygood at winning are always stressed not from losing but from not being right all the time and that's where the perfectionist and drive come from and that's why this thread will very unlikely have true winners on it.

Excellent post giggilo & very trueHappy
By:
Mc Moonbeam
When: 01 Sep 13 00:07
also if you win consistently you just know the inevitable downswing is due ..
Winners Understand Variance Very well though , they just brace themselves & plough through it with caution !
By:
orioles
When: 01 Sep 13 00:29
I couldn't make it pay in 10,000 years!

Gamblers are generally liars where their pastime is concerned, most of all to themselves, so I'd take everything on this thread with a sack of salt.
By:
Mc Moonbeam
When: 01 Sep 13 00:40
Most posters on this thread make a decent living Orioles

Personally i used to make money mainly by trading/betting football but my best markets were Specials as there wasn't much influence on them (bookies follow betfair) so was effectively a free market !

but i can't make decent money on here nowadays , i make a bit but Bots control everything now

I've made my money through Poker , it's also very tough nowadays , as is everything due to lack of money in the economy , people just don't have the spare money to waste anymore .
By:
orioles
When: 01 Sep 13 00:44
If you say so, Mc.

I wasn't pointing the finger, just making two observations I know to be true!
By:
Mc Moonbeam
When: 01 Sep 13 00:48
I agree bad gamblers are also bad liars , but a big part of winning is being brutally honest & constantly assessing yourself

It depends how much you need to live on i guess , a guy with a family & mortgage to pay would be wasting his time though i'd agree .
By:
thegiggilo
When: 01 Sep 13 00:51
Findlays a gambler not a professional punter,plenty on here betting big but win nothing overall its far to skilful and time consuming for those sort of punters to win,i've yet to be convinced by anyone that's posted on betfair they win decent amounts.

orioles
     01 Sep 13 01:29   


I couldn't make it pay in 10,000 years!

Gamblers are generally liars where their pastime is concerned, most of all to themselves, so I'd take everything on this thread with a sack of


I only have to read someones post and can tell straight away they're just gambling it's so transparent I've yet to see any memorable ones that I have convinced me and they should stand out a mile!Shocked
By:
Mc Moonbeam
When: 01 Sep 13 00:59
I know he's a gambler (his quote makes me laugh but is true) but i'm sure he's made more than most people on here ?


Pastime is the keyword for Orioles ...... some of us hardly sleep !
By:
themightymac
When: 01 Sep 13 01:18
Only way you`ll get money is to work for it. FACT
By:
themightymac
When: 01 Sep 13 01:19
Anybody trying to live off gambling with no other income will end up in the loony bin.
By:
themightymac
When: 01 Sep 13 01:20
And I pity their family having to live with them.
By:
thegiggilo
When: 01 Sep 13 01:23
I havn't worked for 13 years although as stated previous I very much doubt there are many doing the same maybe a handful,it's simple maths unless you're making 100k+ a year for the hours involved and if you've got a family as well as I have but I have my own office and am left alone as I work from 8am till 2am most nights..
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