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jimk
29 Aug 13 12:02
Joined:
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
Pause Switch to Standard View Been on here OVER 10 YEARS and make...
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Report Burton-Brewers August 29, 2013 1:06 PM BST
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
Report Ivor August 29, 2013 3:30 PM BST
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?
Report Capt__F August 29, 2013 3:32 PM BST
5 test the ladies with a Yorkie
Report Makybe_Diva August 29, 2013 3:35 PM BST
Plain
Report Percy Filth August 29, 2013 3:39 PM BST
Deja Vu
Report Ivor August 29, 2013 3:41 PM BST
Where/when is it running please?
Report Ghetto Joe August 29, 2013 4:06 PM BST
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.
Report dustybin August 29, 2013 6:53 PM BST
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
Report dustybin August 29, 2013 6:58 PM BST
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.
Report collywobble August 29, 2013 6:59 PM BST
I'm two weeks short of 10 years, so don't qualify.
Report Foinavon August 29, 2013 7:28 PM BST
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
Report Coachbuster August 29, 2013 8:00 PM BST
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 .
Report Coachbuster August 29, 2013 8:03 PM BST
wish you all the best of luck this year jim ...never give up
Report Foinavon August 30, 2013 9:04 AM BST
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".
Report jimk August 30, 2013 10:13 AM BST
Great to read the comments so far and the different approaches and views.

Keep them coming!
Report jimk August 31, 2013 5:10 PM BST
Is that everyone?  Can't be surely!
Report Ovalman. August 31, 2013 6:23 PM BST
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?
Report i_agree_with_nick August 31, 2013 6:49 PM BST
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
Report Ovalman. August 31, 2013 7:29 PM BST
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.
Report guinness2dear August 31, 2013 8:16 PM BST
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?
Report lmfao August 31, 2013 9:10 PM BST
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
Report MC Roller August 31, 2013 10:10 PM BST
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.
Report sideshowbob August 31, 2013 10:23 PM BST
gambling is four loosers
Report History Maker August 31, 2013 10:46 PM BST
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.
Report kenny mann September 1, 2013 12:19 AM BST
It's extremely easy to win money on the horses IF you can get your bets on, that is the hard part.
Report thegiggilo September 1, 2013 12:41 AM BST
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.
Report kenny mann September 1, 2013 12:45 AM BST
thegiggilo knows his stuff, that's for sure.
Report Mc Moonbeam September 1, 2013 1:01 AM BST
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
Report Mc Moonbeam September 1, 2013 1:07 AM BST
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 !
Report orioles September 1, 2013 1:29 AM BST
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.
Report Mc Moonbeam September 1, 2013 1:40 AM BST
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 .
Report orioles September 1, 2013 1:44 AM BST
If you say so, Mc.

I wasn't pointing the finger, just making two observations I know to be true!
Report Mc Moonbeam September 1, 2013 1:48 AM BST
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 .
Report thegiggilo September 1, 2013 1:51 AM BST
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
Report Mc Moonbeam September 1, 2013 1:59 AM BST
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 !
Report themightymac September 1, 2013 2:18 AM BST
Only way you`ll get money is to work for it. FACT
Report themightymac September 1, 2013 2:19 AM BST
Anybody trying to live off gambling with no other income will end up in the loony bin.
Report themightymac September 1, 2013 2:20 AM BST
And I pity their family having to live with them.
Report thegiggilo September 1, 2013 2:23 AM BST
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..
Report kenny mann September 1, 2013 2:26 AM BST
most people are too busy working to make a decent living.
Report themightymac September 1, 2013 2:28 AM BST
Well done giggilio. You must be in a group of about 1% of gamblers. I would assume that you are single and have no family to support? No offence intended.
Report Mc Moonbeam September 1, 2013 2:30 AM BST
so you make 100k+ per year & hardly use betfair giggilo ?

Is it mainly horses you back .. i guess it helps to be 'in the know'  but great stuff & gl to you if you do
Report themightymac September 1, 2013 2:34 AM BST
Apologies giggilio, I never read your post right, great work if you can do it and support a family. You must be stressed out all the time though.
Report thegiggilo September 1, 2013 2:37 AM BST
No I have an 11yr old daughter and 2yr old so I d0n't even get anysleep and I looked after him during the day for several hours my girlfriends an archaeologist works in a museum p/time jshe doesn't need to but wants a break from my son.I wouldn't do this for less than 200k+ a year just wouldn't be worth the time and effort made a lot more than that last year and looks like this year,at the moment i'm playing at it open an account hit a 14/1 winner with 400/600 on it gone within one bet.It's tiring stuff just getting accounts I had over 400 last season with two lads doing my trading and opening them one after the other.I've even put a call out on these forums for someone to approach me if they can prove they know what they are doing i'm willing to work with someone but you need to have 100% trust in them.Infact never got one reply because simply there isn't anyone,or if there is they maybe where I was 10 years ago winning and still learning.
Report kenny mann September 1, 2013 2:42 AM BST
obviously most on here haven't seen thegiggilo's posts, He is an expert on horse racing.
Report themightymac September 1, 2013 2:43 AM BST
Well done mate and good luck to you.
Report thegiggilo September 1, 2013 2:49 AM BST
Mc Moonbeam
     01 Sep 13 02:30   


so you make 100k+ per year & hardly use betfair giggilo ?

Is it mainly horses you back .. i guess it helps to be 'in the know'  but great stuff & gl to you if you do


Don't use anyside information I know things about a lot of top jocks and trainers by betting with other pro's if only I could tell allShocked.I had three trainers phoning me at one point telling me there horses would win would tell them no but they still took no notice got fed up with the phone calls to the point where I never answer the phone in the day anymore.Most inside info is garbage certainly not any use for betting,i could not watch a race for 12 months and still smash winners purely by using the formbook.
Report thegiggilo September 1, 2013 3:23 AM BST
The only real winners are the shrewdies,the same shrewdies are winning everyday the huge collapses in the markets are due to the same shrewdies working along the exact same formlines and angles.Everything I back gets decimated in general especially if I tell a few or mail it out,i could give you thousands of examples from the last 2 years all sent out by email THE NIGHT BEFORE.I could pick out 5 picks everynight put them on here and guarantee they'd be 30/40% shorter the next day minimum.I was on holiday two weeks ago sent out mount tiger at 13/2 night before I got to destination saw sp of 11/8 holiday paid before these are regular occurences..

From: alweather
To: "Kohaku00 Sent: Sunday, 11 August 2013, 17:13
Subject: Re: aw/summer picks


A couple of obvious ones mountiger winning at wolves today in a decent time of 1m47.50 although it has to be said the track was extremely quick but was only second run and open to loads of improvement.It's always worth keeping these onside as if they don't show on turf they can return to the aw and be far superior on the surfaces sometimes in comparison to their turf form!!He runs again tomorrow and looks massively overpriced after the run on the turf,as I mentioned highly likely to be overpriced after that loss think it will be huge gamble going off around 7/4!!

13/2 victior  Mount tiger

Won sp11/8Cool

Left one recipients name on there although there are plenty on the racing forum I could've used!!Shocked
Report Coachbuster September 1, 2013 2:09 PM BST
Orioles , some folk can be very good at say gambling and fail at almost everything else ...
I know for a fact i would never pass an A level exam even if i studied for the next 20 years ,yet i find making money gambling  fairly effortless  ...something my 'academic' friends would find quite impossible .


I spose it's all how the brain functions ,i think i'm missing the front lobal part Grin
Report Coachbuster September 1, 2013 2:11 PM BST
It's a lovely life though ,plenty of time to do practically everything you want  Love
Report orioles September 1, 2013 2:44 PM BST
Actually, Coach, your frontal lobe is probably banging away like a good 'un! It's the home of your dopamine system Happy

I don't dispute that people can make money gambling, but it's rare, almost always exaggerated and often a lie.

As someone noted above, I'm only a recreational, very small stakes punter, but I've done it all my life and I do know a couple of people who make their living gambling, so I think I have a little insight.

It's not a life I'd choose or recommend, but chacun à son goût Happy
Report Coachbuster September 1, 2013 3:32 PM BST
I guess it's all down to the alternatives on offer ..if i could make a living  beer testing i'd choose that option Grin
Report Ovalman. September 1, 2013 5:45 PM BST
I really like this blog, he's a good young lad with a sensible approach;

http://www.daleroxxu.co.uk/2009/11/10-questions-not-to-ask-me-about-poker.html

I was hit with the question about "You've won but how much have you lost?" the other week by a few mates. Trying to explain to the uninitiated is a losing battle.

I'm also guilty of turning zero into something for my 24 yo son. I've still zero but he's a first deposit bonus and a few freerolls to play so I will make him some £££'s.
Report Do wah Diddy September 1, 2013 6:25 PM BST
1 LOSE
2LOSE
3ALL YEAR
4I DONT LOSE AS MUCH THESE DAYS AS IVE LOST EVERYTHING BEFORE AND NOTHING LEFT
5DONT GAMBLE AND ENJOY YOUR LIFE
6 WORK 9-5
Report Do wah Diddy September 1, 2013 6:29 PM BST
NO 6 WORK AS MANY HOURS AS YOU CAN IT KEEPS YOU OUT OF TROUBLE AND EARNS YOU MONEY AND KEEPS YOU FROM DESTROYING YOUR SELF
Report Coachbuster September 1, 2013 9:03 PM BST
must say though it's getting more difficult on here  , not sure how long BF will be running in it's current form.

fewer recreational players and banned in soo many countries .

for many of us  i feel this could be our last run out  Sad
Report Ovalman. September 1, 2013 9:22 PM BST
Do bookies lay off their unfair odds on Betfair when they get large sums they have to accept? (losing whales for instance)

Bookies offer unfair odds, that's how they make money but shrewd punters (not me) can pick up on trends in their favour. Curious.
Report Coachbuster September 1, 2013 10:05 PM BST
i'm guessing so Ovalman - bookies don't like taking too many chances



after saying that ,odds on favourites are  often better at the bookies - as you will probably know
Report thegiggilo September 1, 2013 11:26 PM BST
Books are clueless they are for cherry picking most days its all about getting enough on or accounts as for backing odds on favs I probably back 1 a month sometimes non that's how much value they represent.Little or non!!
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