General Betting
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I'm not suggesting that i'm going pro any time soon, probably never will neither in all likelihood, but i'm just curious that if you are skilled enough and have the discipline, what level of bankroll would you need. For instance, to make these sort of profits net pcm.
1 - 1200
2 - 1800
3 - 3k+
4 - 5k+
5 - 10k+
1 - 1200
2 - 1800
3 - 3k+
4 - 5k+
5 - 10k+
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You just need to get lucky, get off to a godd start.. probably £500
If you cant do it with 1,200 youre fairly unlikely to be able to do it with 10,000.
You can't really answer this without knowing something about your betting style eg strike rate, potential ROI%
If you want a broad brush estimate I would say that if you aim to make 12k per year then you need 12k to start with. As I said this is braod brush but its based on betting 1/100th of your bank and making 100 pts level stakes at the end of the year. But there is not one size fits all.
If you want a broad brush estimate I would say that if you aim to make 12k per year then you need 12k to start with. As I said this is braod brush but its based on betting 1/100th of your bank and making 100 pts level stakes at the end of the year. But there is not one size fits all.
ChrisWidge 30 Dec 10:54
Any serious comments other than these mugs!
People that live in glass houses should not throw stones.
Dont eat yellow snow.
Look both ways before you cross the road.
Look both ways before you cross the road.
ChrisWidge 30 Dec 10:54
Any serious comments other than these mugs!
People that live in glass houses should not throw stones.
Josh understood the question fine. I'll let Doyle off while he's Irish!!
Any serious comments other than these mugs!
People that live in glass houses should not throw stones.
Josh understood the question fine. I'll let Doyle off while he's Irish!!
:D
I was being serious for once!
You said if youre "skilled enough and have discipline" Well, when youre good, youre good, you could do it with anything.
I was being serious for once!
You said if youre "skilled enough and have discipline" Well, when youre good, youre good, you could do it with anything.
I am certainly not 'pro' - but i do believe the 'losing streak' is the enemy of any Bankroll .
my mate is pro bettor on hear, he earns up to a pony a day, tops it up with window cleaning on the side
Oh God, I think I'm going to choke (and not on something salty either!) A pro earning £25 daily supplementing with window cleaning.Brilliant.
"The market can stay irrational longer than you can stay solvent"
tess a pony a day aint to be sniffed at, how much ewe lose per day?
JamesBlakesHugeArse 30 Dec 11:41
"The market can stay irrational longer than you can stay solvent"
:)
"The market can stay irrational longer than you can stay solvent"
:)
You'll know the answer yourself due to how you operate and your previous years results
Id say $10,000 - Means that you only have to make 1% a day to give yourself a decent living, and by doing so it means that you dont have to play risky bets (1.01), I find cricket in play is good to do safe bets on, not a fan of horse/hound racing, too much hard work trying to arb the bets.
I think the answer is... what you are comfortable with....which will depend on your age, any dependents, your outgoings, effect on your job prospects, if you are married does your spouse have a job and how much she earns, pension provisions, your wealth excluding your bank, future inheritance prospects, but most importantly your betting style, your historical strike rate and confidence that the strike rate will continue.
Anybody that needs to ask this sort of question should sign on, live on benefits and start with £100. Then there is only £100 to be lost as I cannot help but think that if this question needs to be asked then the P&L will only have a minus sign in front of it.
I just say it like it is. :|
I just say it like it is. :|
My opinion is roughly 2 years wages in the bank to fall back on.
That is what I had.
That is what I had.
plus the knowledge that you can actually make a profit mister ed ;)
trading, you can make a living with a grand or two in your account if you know what you're doing.
There is some truth in what Alex says. You should have historical results that answer your original question. Look at your results over the last few years and and conjur up an answer that fits your profile.
window cleaning is a good source of cash back up for pro bettors.
You should have historical results that answer your original question. Look at your results over the last few years and and conjur up an answer that fits your profile.
And it is all about probabilities, prices and maths. So if you cannot do the basic sums to work out the required bank then pro betting is not for this chap. I have now changed my advice. Start with £50.
And it is all about probabilities, prices and maths. So if you cannot do the basic sums to work out the required bank then pro betting is not for this chap. I have now changed my advice. Start with £50.
And make sure the window cleaning income does not impact on benefits.
It aint about bankroll ... Its about turnover ... Ask any business take Tesco they would be over the moon with 15% profit on turnover ... so you pro gamblers who say want £10K a year .... you need to turnover £100 k...... cause belleve me if you can make 10% you have no problem .. you will be up there with the best ......
throwing in my thoughts:
When I played poker I used to have a rule to never play at stakes for which my bank roll wasn't at least 30 times larger than the buyin required to sit at the table. I never went broke. If i did i would have to accept I wasn't good enough. This allowed me to deal with swings in luck too. I'm sure something similar could apply with trading
When I played poker I used to have a rule to never play at stakes for which my bank roll wasn't at least 30 times larger than the buyin required to sit at the table. I never went broke. If i did i would have to accept I wasn't good enough. This allowed me to deal with swings in luck too. I'm sure something similar could apply with trading
Anybody that needs to ask this sort of question should sign on, live on benefits and start with £100. Then there is only £100 to be lost as I cannot help but think that if this question needs to be asked then the P&L will only have a minus sign in front of it.
I just say it like it is.
I stated I have no interest in doing it as I gamble recreationally. To say something like this is arrogant and also on par with the small c0ck syndrome (Assuming you know what I'm going on about). To say that i should sign on and live on benefits, which you did, when knowing nothing about me personally is retarded.
Next your gonna start asking me what car I drive, size house I live in bla bla bla, But i'll just assume your a cu nt.
I just say it like it is.
I stated I have no interest in doing it as I gamble recreationally. To say something like this is arrogant and also on par with the small c0ck syndrome (Assuming you know what I'm going on about). To say that i should sign on and live on benefits, which you did, when knowing nothing about me personally is retarded.
Next your gonna start asking me what car I drive, size house I live in bla bla bla, But i'll just assume your a cu nt.
Steady Chris, I think Alex is a bit brutal with his points but he probably means well.
Tell us a bit about how you bet and maybe help will be foirthcoming. Do you bet win only and at what type of average odds?.
Tell us a bit about how you bet and maybe help will be foirthcoming. Do you bet win only and at what type of average odds?.
I had nothing against him until he started being presumptious and saying I should go on benefits etc bla bla. He didn't mean well whatsoever with that post.
I asked a simple question, if he didn't like it he should have gone to the next thread.
I asked a simple question, if he didn't like it he should have gone to the next thread.
Cricket: £413.12 | Soccer: £97.05 Total P&L: £510.17
Bankroll is largely irrelevant. What matters is having a winning strategy and the scalability of it. It also depends on individual circumstances. I would say you need to be confident of winning at least twice what you can earn in employment before even considering it. In my case, it had to be a lot more than this as I had dependents and a very decent pension scheme.
Steady Chris, I think Alex is a bit brutal with his points but he probably means well He is also correct whichever way you read it. Besides, what's the big deal about going full time ? What's wrong with doing a job AND betting ? I wouldn't like to think I had to win to pay the bills, especially if there is an alternative. Is it an image thing ?
Please let me reiterate, I have no intentions of quitting my day job and going pro. I was merely curious as to the level of bankroll a pro gambler has to attain a certain net profit. I understand there is nothing set in stone as to what the requirements are, it was just a general question, hence in the general questions forum.
I have nothing against alex,but his assumption pi$$ed me off as he knows nothing about me. Plus, I apologise for calling you a cu nt.
Whether you accept it is upto you bud.
I have nothing against alex,but his assumption pi$$ed me off as he knows nothing about me. Plus, I apologise for calling you a cu nt.
Whether you accept it is upto you bud.
id say doubling your bank in a year is very good if you are capable
therefore if your happy with 300 per week on average --then 15k
therefore if your happy with 300 per week on average --then 15k
Blue ........ stick to your day job ..... why it makes sence . old mem like me have seen the kids off ........ 2 girls both married now cost me a bomb .. me and the lovely wife 39 years .... how the hell she put up with me over 39 years I dont know ..... but one day it may happen to you .......... Enjoy if you are that lucky ....... like I was .. hope that makes sence bit to much to drink .
Too late zipper, I gave up work two and a half years ago.
In answer to the original question, it very much depends on your strategy. A trader may only need a couple of grand to make 10k a month whereas a successful position taking punter who averages the same may need a couple of hundred grand to sufficiently reduce the risk of ruin. The variance for these two types of winner would of course be enormously different too.
In answer to the original question, it very much depends on your strategy. A trader may only need a couple of grand to make 10k a month whereas a successful position taking punter who averages the same may need a couple of hundred grand to sufficiently reduce the risk of ruin. The variance for these two types of winner would of course be enormously different too.
Blue Eyes .. zip dont trade .. zip dont do inrunning ... if zip dont have a strong opinion about backing or laying any horse before post time .. well zip stays out .. works for me . Happy New Year .
There is actually a very straightforward answer to this question, and OP will hate it.
You have decided that you going to be betting for a living. This means that we assume that you are a winning player. However, any player, even the winning ones, should be prepared for the downswings that will inevitalby happen. If you think that won't happen to you, you're delusional.
This means that you have to have living costs covered in advance SEPARATE FROM YOUR BETTING BANK. Depending on family status, commitments, and life expenses in general, you are looking at a different amount for every porffetional. However, everything less than 6 to 12 months worth of expenses is basically doomed to fail.
Say your lining costs are 12 000 per year. And you have 12 000 put aside. So, in order to keep you expenses to 12 000, you'd need to be able to withdraw 1000 per month. Find out what your average expectancy is, and then you can easily determine your betting bank.
Ex.: You think you can earn 20% of your bank in az average month. This means a bank of 5000 is required.
You have decided that you going to be betting for a living. This means that we assume that you are a winning player. However, any player, even the winning ones, should be prepared for the downswings that will inevitalby happen. If you think that won't happen to you, you're delusional.
This means that you have to have living costs covered in advance SEPARATE FROM YOUR BETTING BANK. Depending on family status, commitments, and life expenses in general, you are looking at a different amount for every porffetional. However, everything less than 6 to 12 months worth of expenses is basically doomed to fail.
Say your lining costs are 12 000 per year. And you have 12 000 put aside. So, in order to keep you expenses to 12 000, you'd need to be able to withdraw 1000 per month. Find out what your average expectancy is, and then you can easily determine your betting bank.
Ex.: You think you can earn 20% of your bank in az average month. This means a bank of 5000 is required.
ChrisWidge 30 Dec 10:39
what level of bankroll would you need. For instance, to make these sort of profits net pcm.
1 - 1200
Like others have said, it depends on what you do. The most important thing has to be having a method that makes profit. That will dictate the funding required, not the other way round.
I aim to make 0.5% of bank every trade, so a 2k bank would pay me a tenner (1point). Then I aim for circa 30 points profit per week (I didn't start with those figures in mind but that's what the method has dictated). So in your example, 2k bank to make 1200/mnth. The other amounts would be multiples of that, still based on 0.5%.
Ps. Zipper I've been away from the forums for a while, but several months ago you were claiming to be a women? Are you a man again now? :)
what level of bankroll would you need. For instance, to make these sort of profits net pcm.
1 - 1200
Like others have said, it depends on what you do. The most important thing has to be having a method that makes profit. That will dictate the funding required, not the other way round.
I aim to make 0.5% of bank every trade, so a 2k bank would pay me a tenner (1point). Then I aim for circa 30 points profit per week (I didn't start with those figures in mind but that's what the method has dictated). So in your example, 2k bank to make 1200/mnth. The other amounts would be multiples of that, still based on 0.5%.
Ps. Zipper I've been away from the forums for a while, but several months ago you were claiming to be a women? Are you a man again now? :)
kef4o.
Cheers for a response I was looking for bud.
Cheers for a response I was looking for bud.
Trevh ... Where have you been . On her Majestys Pleasure ? Most days I am a Transvetite.......
Another relevant question is how you treat a losing run. I trade tennis with a balance of x but after two consecutive full balance losses I will go to 0.5x. A further two losses I would half again. This limits my potential loss to 4x.
why do people think X bankroll = X profit
very naive
imho
very naive
imho
pip
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JamesBlakesHugeArse 30 Dec 11:41
"The market can stay irrational longer than you can stay solvent"
That doesn't apply to short term sports markets though. Barring match fixing and other forms of corruption, the more irrational a market, the more potential there is for profit. The fact that these markets get settled quickly, will mean that 'the rational bettor' will prevail. There is no need to wait for a market correction (that may never come) to profit.
Deltâ 30 Dec 18:21
why do people think X bankroll = X profit
very naive
imho
zipper 30 Dec 18:26
Delta .. spot on
I agree with that, but I still think this is a legitimate question. A lot of people making a profit may maintain their bank at a steady level, withdrawing the excess. Currently I withdraw far less than I make in order to grow my bank and make more money. Although it's certainly not as simple as x bankroll = x profit, the increase in bankroll will lead to an expected increase in profit. At some stage it will start to level off, and reach the point where it would not make sense to grow the bank any further. It's actually very difficult to predict where that point will be, as this is not just dependent on me, but also on the future growth of the exchange and the fact that some of the things I'm doing now may not work in the future.
"The market can stay irrational longer than you can stay solvent"
That doesn't apply to short term sports markets though. Barring match fixing and other forms of corruption, the more irrational a market, the more potential there is for profit. The fact that these markets get settled quickly, will mean that 'the rational bettor' will prevail. There is no need to wait for a market correction (that may never come) to profit.
Deltâ 30 Dec 18:21
why do people think X bankroll = X profit
very naive
imho
zipper 30 Dec 18:26
Delta .. spot on
I agree with that, but I still think this is a legitimate question. A lot of people making a profit may maintain their bank at a steady level, withdrawing the excess. Currently I withdraw far less than I make in order to grow my bank and make more money. Although it's certainly not as simple as x bankroll = x profit, the increase in bankroll will lead to an expected increase in profit. At some stage it will start to level off, and reach the point where it would not make sense to grow the bank any further. It's actually very difficult to predict where that point will be, as this is not just dependent on me, but also on the future growth of the exchange and the fact that some of the things I'm doing now may not work in the future.
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