General Betting
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27 Feb 10
10:25
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Date Joined:
16 Sep 06
I am in a position where I will have a bank of 20,000 due to a house sale. This is all my spare money, so I'm not looking to waste it!
I'm looking for ways to build it up slowly while withdrawing about 1,000 a month. I'm planning to be very risk averse with it, and looking to build up over a few years, but on the other hand nothing ventured nothing gained.
Any advice?
I'm looking for ways to build it up slowly while withdrawing about 1,000 a month. I'm planning to be very risk averse with it, and looking to build up over a few years, but on the other hand nothing ventured nothing gained.
Any advice?
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Replies: 27
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Forget 19500 of it and have a go with 500. If you can't make it pay with 500, you can't make it pay with 20000.
If you've turned your 500 into a few thousand by this time next year, then you don't need the 20000 anyway. If you haven't, you've probably saved 19500 |
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If you're investing 20k into a venture you should already know exactly how you're going to go about it or else that money will be gone before you know it. Good luck though
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Invest in ostrich farms.
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What's your all time betfair P and L?
What's the source of your edge? How have you made consistent profits and on what sports? |
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must be fishing
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Not fishing, always wanted to have a big bank and thought it must be doable to pick up some money with one. When I think about what I'd actually do with it though, it doesn't seem that easy anymore.
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Lori gives excellent advice.
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Lori 27 Feb 11:27 Forget 19500 of it and have a go with 500. If you can't make it pay with 500, you can't make it pay with 20000. Yes top advice. I would go as far as to say bank 19.8k and play with £200. Then draw £300 if things look to be going in the right direction. If you are getting this right then you ought to be able to double £200 in a week. |
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In that case do as Lori says...
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buy a very comfortable chair, everything is easy after that
happy hunting |
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I agree deposit £500 in Betfair and use the £19.5k to put down as a deposit on another property, rent it out to cover the mortage
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Eddie Stobart started with £500.. pounds ...... forget 20k your either good at what do or your not .... you will find out quicker with £500.. pounds . ZIP .
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Martingale system, start from from £1
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Most people make their money from football Match Odds and Overs markets. I advise investing all of it there.
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howardisawinker - what is your expertise on specific sports?
What is your strengths......are you numerate? How old are you? Are you working full-time ? If so, what is your professional or trade background? How do you expect to get advice without giving more than .....you got £20,000......etc |
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DFC I'm numerate, I work as an accountant full time. Don't have any particular expertise, I normally bet on football. I've definitely made a loss overall, mainly due to losing thousands with my 1st account a few years ago. At the moment I seem to be pretty steady, some losses on here, some wins on the other site, I just about hold my own that's all.
I've always dreamed that with a big bank you could make decent money, I imagine - as people are saying- the reality is that a big bank just means big losses. But I'm considering it. |
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Thanks for reply.
1. Did you play football to any reasonable standard.....and to what age if you did? 2. Did you watch football for a few decades? 3. What markets in football do you bet on ? 4 Do you bet on 1 market , or more than 1 market for same game ? 5. Do you do more than one bet IP.......or do you leave initial bet/s to stand ? 6. What average bet size/exposure did you do in past ? You may have noticed I am doing ok on CS LAY thread on here.........but I am not convinced I have an "edge", other than just having been ....obsessed by football when younger ( only played to junior level), and watched football at most levels for a few decades !!! If you bet on mor than 1 market for one match , then this may be one reason why you have not made much profit in past .......Really think you got to concentrate on 1 market till you feel comfortable betting a "reasonable amount" on..... Anyway I better get back to racing.... |
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Howard nice size of an Arsenal to go And Give The Arbitrage Game A Go Or A Bit Of The Trading Game
Esp If You Are Good With The Old Percentages G/Luck |
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Putting £500 on a horse rather than £5 doesn't make it run any faster. As someone once said "If you cant win small you cant win at all"
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Yes it's actually far easier with a smaller bank as you can get some stonking value for small stakes.
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If you are going to bet with it stick to the following basics...
Only bet 2% of your bank on any 1 bet... Give yourself a "REASON" to justify the bet,ie Rep. of Ireland vs Brazil tonight,i would justify a bet on ROI at 8.0 and watch in play to lay off if they score early,i basically priced them up at about 5.5 so anyhting 10% or more/less would give me a bet in my mind,dont know what your skill/expertise is at pricing up/knowledge of certain sports etc,etc... Never bet because ur bored... Try to become "expert" in either Football/Golf betting,many oppertunities daily on football,several times a week on Golf... |
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I would never go near friendly matches, hard enough getting winners from competitive matches, nevermind teams able to make 116 subsitutes in a s hitty friendly
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racingguru 02 Mar 08:51
There is no correlation between having a big bank and winning. Trading on certain markets and 'bullying' prices around perhaps? |
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shrewdbury, that's all well and good but you wont be able to exit if the liquidity isn't there
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Yeh, you obviously couldn't do it endlessly, but I'm sure you could to an extent.
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Betfair has to be the worst way to invest 20 grand.
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Howard, if you're not fishing, you've not got the measure of what you're trying to do.
A pro might target 5% bank growth a year or more, but he's highly unlikely to count on making 5% in any one month. Further, the longer prices he is taking, the greater the standard deviation of his period-on-period results is going to be. It is just not plausible that there are so many bets out there offering 5% edges together with steady returns. If there are, you or anyone else wd be completely silent about them and pray that yr edge won't quickly be eroded away. Anyone might think for individual bets that they have more than 5% over the market, but this is a different matter. Do as Lori says and try with a smaller bank and a variety of punting, dutching, hedging, trading strategies etc. Above all, you are looking for something that saves yr particular temperament from a catastrophic loss. |