Well as i am no fulltime gambler the liquidity in the markets is not a big Problem for me (now)..... i normaly stake too small to run into Problems.

Besides that sadly as it is i always take the famous "technical Problems" into consideration..... i would never stake lets say 1000 Bucks into one event..... i always spread my money over many Football games.... so liquidity is not the big deal for me.

I started from scratch exactly one year ago. I've made 62k since. I consider myself a pro even though I work for a bookmaker. I intend to make at least 100k during the next year. The key to my profitability has been:

1. Application of Kelly staking.
2. Monitoring Betfair prices.
3. Monitoring the Asian market.
4. Focusing on a relatively obscure football league (attending matches etc) and providing info for a closed forum, hence getting useful info in return.
5. Building a network of contacts (pro bettors).

I generate commission and add liquididty to many markets but the way that I do it would be impossible if I did not have access to the queue. I suspect there are many others like me. Like Feck I can think of ways that I could change the site to my benefit but accept that betfair want to optimise their profit, not mine.

I generate commission and add liquididty to many markets but the way that I do it would be impossible if I did not have access to the queue.

Given the words in bold I'd gues you neither add liquidity or generate commision. Feel free to give me an example proving me wrong.


Like Feck I can think of ways that I could change the site to my benefit but accept that betfair want to optimise their profit, not mine.

I wouldn't even bother making the suggestion if I didn't think it would optimise betfair's profits.

Forgott to mention that i avoided one game :)..... for no specific reason except that it is not on the Betfair Livescore

That's where we differ Fred. I don't think the queue being hidden would matter to those that generate the commission and the fact that you, and others whose 'opinion' comes from data crunching, couldn't trade without it wouldn't make a blind bit of difference to either betfair or the rest of us. If you dispute that could you give me an example of a winning trade where you think you generated liquidity.

Truth is, even if the queue was hidden I'd still make money, I'd just do it differently. I'm old and wise enough to know that. Sorry for the confusion, when I said trading I just meant my general betting activity, not my method.
People put bets up and I take some of them. I put bets up and others take some of them. Is that liquidity? I'm currently on 3% commission and making betfair more money than I make for myself.

I think it takes a special kind of freak to be able to make money in this game, in life I am quite lazy by nature, but am also a researchaholic, I have to find out about everything and I am ultra competitive/hate to lose and have great believe in myself and my opinions.......these attributes make me ideal for making this game pay imo :)

As many on here have stated, it's as much to do with psychology as strategy. You can have a perfectly sound money making method, but if you crap yourself the moment the inevitable torrid spell comes along, it counts for nothing. Don't let anyone tell you it can't be done though - it most certainly can, but you'll need a strategy that's proven first on paper over a lengthy period, then with real stakes. Endeavour to build your capital in your spare time from profits. If you can't manage to do this, then you've no place being a professional anyway. I can certainly appreciate how many people with commitments would be averse to going full-time however. I make a decent living, but have no family to support and therefore far less pressure. I've been doing this long enough now to be quite secure financially - my house is paid for and capital is not a problem, so over time you can reach a stage where pressure becomes less and less (if you are sensible with your profits!). That said, this can then give rise to a tendency for complacency to creep in, and that can be a huge enemy of the professional. This is yet another pitfall that needs to be combated.

Some personalities will just not be suited to the life. You do have to be a particular sort of person to hack it. You don't want to lose your nerve every time a bad spell erupts and by the same token should not be too confident when things are going well.

But I would not say that nobody should do this. I for one hated my previous career as a probation officer and love my independence and autonomy. It might seem like an insecure existence, but who's lives aren't these days? At least I get to live or die on the strength of my own decisions. Working for someone else, you have limited control over your own life and can be on the scrapheap at any time with very little say about it.

But ultimately, however you want to spend your time on Betfair, never stop wanting to learn!

Good luck guys.
:)

weary wizard i agree entirely, in fact u seem to be in same position as me with yr life on here. im 41and been involved in gambling for 25 yrs and now afer 6 yrs on here have no financial worries as my house is now paid for etc. very few will make it pay on here however, and even though i personally love watching sport and making a book in running, for many it will be a lonely lifestyle and the road to ruin.

I'm constantly learning that finding a system/strategy to gain profit isnt a problem.
The problem is dealing with the situation when it goes against you. That is when your strategy and discipline has to be rock solid, but you also have to flexible enough to be able to read the situation and adapt with confidence.
In a nutshell dont try and make money, try not to lose it.
My problem is .... I'm allergic to nuts

it can't be done

After five years full time on Betfair I now live in a house made of the finest cardboard.

Discipline doesn't have to be self imposed. My brother imposes my limits for me and I have no choice.

To be fair poor discipline doesn't really cost you that much in well formed markets anyway. Probably your commission rate plus maybe the overround. Whenever I go on a wild chase and do my dough, I always remind him (and the wife) that it only really cost me x% of the bet.

Hi jeski ...Koo does not set himself daily targets ....he just operates with his small bank ...think that is up to £30,000 now.

He backs and lays when he thinks he has an edge , for whatever reason,...but set s value odds on his lays and grabs what he can on backs ........

In fact the poster before you on here might be Kooooooooooooooooooooooo :D

TAGGART back on......but you may have been talking with Koo re NCNS.......

G M the nooooooooooooooooooooooo

Yeah what i wanted to stress is it all came down to discipline once more,.... the Human factor was the bug !

spamski

deeper - not sure if u are full time but what u said stopped many people who are capable of doing it for a living actually doing it. u obviously are a smart guy.

I drive up and down the motorway all day and get paid over £500 pw i would not be able to make that on befair.

Not read the full thread so excuse me if im duplicating. My advice would be to spend 2 years and not have a bet but back on paper without the risk. Keep a spreadsheet on how you did and they you have the answer with no risk. Whats a couple of years if you get it right after that time.