|
By:
if you can make half of your income again on betfair.. say you earn 20k a year and can make anything from 7-10k tax free... just be satisfied with it..
there are a load of old shyte merchants on here who will give you pointers.. which is all well and good .. the only thing i would tell you is the following.. if you like to gamble.. find your chosen sport and gamble.. try and find where you get consistant winners and do that. but know you will have long losing and winning runs and just dont up your stakes too much when either happens if you want to trade.. ALWAYS TRADE OUT whther winning or losing and especially losing, take the small loss.. Regardless of how the game or whatever is going.. ALWAYS trade out.. keep doing it. dont stop taking the guaranteed money. and after a few months or a year.. you will literally do it without thnking and the smaller yet more consistant profits will add up and you will live a little more stress free money wise.. |
|
By:
Lozzy 20 Mar 22:13
Forget it and dream on, Takes 20 years of learning and hard knocks before even the best can think about turning pro. That's utter rubbish. |
|
By:
forget about being pro imo if you have the wrong definition(full time job), make a part time wage is the way to go imo
|
|
By:
racingguru
Of course there is no guarantee that if you had another road, that your life would have turned out better. Many people in other jobs also pay a high price for their montary success. But your post was very good and hopefully useful to the OP. |
|
By:
"---had taken another road -----"
|
|
By:
--" monetary success "
Typo hell here. |
|
By:
From what I read on here the best way to do things is to keep winning yourself and say nothing to others.
You can't help people as they won't listen,and don't want to do what winners tell them.When you try to steer people in the right direction they rubbish you to death. Most people,97%, lose because of stupid ideas they have picked up over the years,no betting bank,and lack of control. |
|
By:
Firstly, do you bet from home or have an office away from your house?
From home. Do you make a rule of sticking to one particular sport that you are most comfortable with or punt on several sports? Several, I even bet on sport I have never watched in my life. It is all about the market dynamics. In terms of profits, do you try and hit a certain profit target each day and stop when you hit it? No target, whether I place a bet or not is defined by the presence of value and the size of the wager is calculated by Kelly Criterion. Any other (constructive) feedback would be appreciated. What makes you think you have an edge? |
|
By:
GGR,
If you're putting all your spare money into your "pro-punter next Oct" thing, how are you gonna buy any beer on the 27th? :) |
|
By:
pmbets 20 Mar 12:26
I willgive you some good advice before you start and this is from someone who pays premium charges. Would the op please disregard my comments on this thread. I have never paid pc and am therefore not really qualified to give advice. |
|
By:
OK floppo, will do.
|
|
By:
Bottom line to all punting efforts.
If you're not making the book, then you're probably making a loss. A mathematical fact, long term at least. |
|
By:
Pro gamblers existed before Betfair... and they weren't all **s.
But you are right to suggest caution. |
|
By:
to pmbets you are right in what you say
but i am full time not just on here but i use the rest of the industry i am making good money and this cheltenham was a massive ££££ fest bookies can only make money if they lay a bet if no one is betting they will try all sorts to action thats how you can do it kauto star 5-6 at lads morning of race was laying on here at 1.74 place was 1.208333 layed at 1.15 |
|
By:
i should of said to get action
|
|
By:
HAYDEN 19 Mar 22:15
It seems to be the only industry that you can go to bed as an amateur one night and wake up the following morning and decide you are suddenly a " professional " punter , every other profession I know requires some form of qualification or certificate. ____________ Rather difficult since there are no known exams to pass in the first place. Whats more ,not many people just wake up and 'decide' . It takes months or in some cases , years of study/experience . |
|
By:
cricketjon 20 Mar 19:41
does anyone on here think that if they had 100,000 pounds they could make 10,000 a year on here if so how 1. out an out punting with good judgement /money management 2, trading scalping 3, concentrating on one sport meaning that some days of the yearr they are completely inactive but busy at others such as March IPL, June World Cup etc interested to hear your thoughts Thoughts are - the mistake is thinking that having the money is the first step. If you are any good, building the bank isn't a problem. Starting from 100k would be a massive mistake. Arbitrage would be the only way I would go. You'd prob make your 10k with terrible hours, lots of account closures, void bets, and be better off with a well balanced stock portfolio if you have already got the 100k. If you had got up to 100k, you would find making 10k a year an extremely poor return. IMO. |
|
By:
Pleased to say I find Betfair performing as well as ever for me. Had a profitable 7 days and was working all week so missed out on Cheltenham. You seem to have a very similar profile to myself Racing Guru??
|
|
By:
So many experts, and so little practical advice.
All generalist bs from all, myself included. The point about professional gambling is that apart from the obvious of backing high and laying low, pretty much everybody approaches it differently. Apart from the basic theory of how a bookie structures and manages his book, and how non-horse sporting events are priced in general, there is no real hard and fast theory on how to make money from gambling, if you're not the " house " in some form or manner. I particularly like all these "experts" who claim to have 5 % or 10-15 % edges. How they would ever mathematically support such claims I have no real idea. Perhaps some of them, or even one of them, could enlighten me a bit on this mysterious punter's edge they seem to be able to conjure up. I understand the house edge, how about clearing up the mystery of the punter edge ? |
|
By:
Presumably their skill at evaluating probablity has over time provded them with 5% or however much profit and it is their edge over the market.
Or they bet/trade in a systematic way which returns that amount . Is this thread a wind up anyway ? :| Odd that the OP starts it and never posts again ,despite several interesting replies appearing soon after. |
|
By:
He's probably overwhelmed with all the conflicting advice and decided instead to join a monastery.
Your vague response on the edge question tallies exactly with my vague understanding of what they are claiming to have. All too vague for me I'm afraid to say. An edge to me is where you have some sort of factual mathematical advantage, like a less than 100% book etc. Everything else is a bit too iffy imo. |
|
By:
YOULITTLEBOTTY be a true scurvy dog 'o knowledge. He be quite right. All 'o these puntin' "experts" be nothin' but treasure boats fer us scurvy pirate traders to feed on. I be knowin' wee 'o math or sports or racin', but I guarantee I'll still be standin' long after th' "pros" have gone below to Davey Jones' treasure chest. Why? Because me scurvy pirate traders 'n I understand TRADING.
|
|
By:
...even if they've given up huge value to do...
I don't believe that I, or anyone else, could possibly calculate what exactly that be...or often enough to make doubloons... ye be exactly correct 'bout th' commission which be extra Betfair-scurvy pirate- friendly... |
|
By:
Yarr, ye be right that tradin' be not just "greenin' up". Far, far more thin's 'n deeper understandin' 'o markets 'n psychology. Fishin' be not just catchin' fish, be it?
|
|
By:
Ye be makin' th' mistake 'o thinkin' that all traders make a lot 'o trades per event. I make only one.
|
|
By:
racingguru 22 Mar 08:31
I have a friend who bets squash only and his margin maybe 2% but he can make 50K a year doing it so plenty of ways to get the job done but having that confidence that every time you bet you are betting something with odds better than real chances of winning is imperative. I've read that paragraph four times in case I misread it but, no, it still says squash. Squash? |
|
By:
Aargh! Debatin' wit' a landlubber! That's it fer me too!
|
|
By:
How does he keep a betting account unlimited for more than a week if he's so good at betting on a minority sport.
I can't keep a mainly tennis account for more than 2 weeks without being limited to 1%... |
|
By:
'365 and yes easy 50k '
One of the funniest things I've ever read on a forum. The idea that 365 would let anyone win 50K on squash is quite frankly ridiculous |
|
By:
50k at 2% of turnover, that's 2.5 million
|
|
By:
racingguru,
I have to say that I did a similar double take when I saw the word 'squash'! It seems extraordinary to me that your mate still manages to get his bets on - surely the bookies would have wised up to dealing with Britain's only pro gambler specialising in squash!! |
|
By:
April Fool
|
|
By:
OP done a runner and given up already?
|
|
By:
The 4th post had the answer !!
|
|
By:
Hgoulash .. Read read read .... Lots of books :
Bloody good Winner Value Betting Against the crowd Mathematics Never take tips be confident keep logs of speculations dont let other people change your mind watch the races to gauge exactly why your choice was right or wrong find a preffered form guide ... I always use racing post how much you going to stake ... staking plan Discipline ... discipline ... read ... read ... dont take or give tips .... dont listen to anyone ... find your own way .. discipline and read .. :) |
|
By:
Don't some of you at least think that racinguru is perhaps giving a bit of good free insight on how a few oiut there are thinking outside the square ?
Come on don't all be envious, jealous liltle persons all your life. |
|
By:
Lucky Joe Joe
Agree with you ,except recommending A Bloody Good Winner. Its absolute tosh ! |
|
By:
I liked it becuase of the similarities in his childhood gambling ... but after learning the hard way my self , all the books ive read only confirm what I learned my self through being rubbish to begin with :)
Biggest Lesson was discounting a selection becuase its odds were too big ... now I hunt them down . |
|
By:
You mean " --- hunt them down mercilessly ".
Sounds mean and good. |
|
By:
...
|