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hghoulash
19 Mar 10 16:49
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Date Joined: 07 Jul 08
| Topic/replies: 12,818 | Blogger: hghoulash's blog
It is something i am considering at the moment. I'm fairly young (just out of my teens), but i'm not naive enough to think it aint the hardest way to make an easy living. I've just got a few questions for all the pro punters. Firstly, do you bet from home or have an office away from your house? I was thinking it might be beneficial to do it out of the house so you can try and separate it as much as possible from your home life? Do you make a rule of sticking to one particular sport that you are most comfortable with or punt on several sports? In terms of profits, do you try and hit a certain profit target each day and stop when you hit it? And do you try and hit your target with one large bet or several smaller ones? I've got a decent sized bank to start with, but the main reason that i am considering it is because there aren't many job prospects for me elsewhere and i think that i could make it pay. Any other (constructive) feedback would be appreciated. Thanks :-)
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Report Deltâ March 19, 2010 7:58 PM GMT
hghoulash

dont do it.


there is a whole big REAL world out there
Report catfloppo March 19, 2010 8:18 PM GMT
hghoulash 19 Mar 16:49


It is something i am considering at the moment. I'm fairly young (just out of my teens), but i'm not naive enough to think it aint the hardest way to make an easy living. I've just got a few questions for all the pro punters. Firstly, do you bet from home or have an office away from your house? I was thinking it might be beneficial to do it out of the house so you can try and separate it as much as possible from your home life? Do you make a rule of sticking to one particular sport that you are most comfortable with or punt on several sports? In terms of profits, do you try and hit a certain profit target each day and stop when you hit it? And do you try and hit your target with one large bet or several smaller ones? I've got a decent sized bank to start with, but the main reason that i am considering it is because there aren't many job prospects for me elsewhere and i think that i could make it pay. Any other (constructive) feedback would be appreciated. Thanks


Forget all of that. What is your edge? If you haven't got one you won't make money.
Report Barry Conway March 19, 2010 8:48 PM GMT
Why would you want to do it? It's easier to go to work. Plus gambling is repellant to women.
Report McChicken_Sandwich March 19, 2010 8:51 PM GMT
I'm 22..... have been full time for about 18 months.

Good money but getting very very bored.
Report TELL DEL March 19, 2010 8:56 PM GMT
".............have an office away from your house? I was thinking it might be beneficial to do it out of the house so you can try and separate it as much as possible from your home life? "

why pay the extra overheads of having an office, all you need is a desk and a computer !

Re about betting on different sports - stick to what you do best.

You need discipline and knowledge, which comes from experience, and maybe at your young age
I would doubt if you have enough experience. Although Patrick Veitch started about your age........
Report YOULITTLEBOTTY March 19, 2010 8:59 PM GMT
hghoulash
Take Gallivanter's advice and go to NY and become a taxi driver and work real hard and don't forget ever to wear your body armour.
No seriously.
I think you're a bit too young to be going down this route full-time.
Sure put your foot in the water, but slowly ever so slowly.
When you grow up a bit you will realise ( like all of us) how fcking little you know about anything in your younger years.
The best asset you will ever have in your gambling portfolio is experience.
Take any job now just to keep you sane and in touch with the real world ( it doesn't matter what it is) while you slowly develop your gambling skills.
You will know soon enough if you are cut out to be successful in this pretty difficult way of life.
It's a rollercoater of emotional highs and lows and you must be able to get up off the floor after you have been repeatedly kicked in the guts by factors such as pure bad luck, rigged events, stupid mistakes, bad info. etc etc.
It can be done, but only by a very small minority of talented people.
Most of us on here like to think we're in that small minority, but we're probably just kidding ourselves.
No harm if you know that, otherwise danger time. Ruined families, debt, poverty, oblivion.
Just thought I would end on an up note.
Best of luck.
Report Hayden March 19, 2010 9:15 PM GMT
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.

If it will make you feel better to label yourself as a pro then that's great , go for it.
Report shiraz March 19, 2010 9:22 PM GMT
hghoulash
Here's two points that may help.
1.
You are applying for a job assisting a person who is a professional gambler, what credentials do you have for him / her to employ you? What is it about you that would get you that job?
2.
You are currently at the point where you want more information, but you will only receive anecdotal answers to the questions you have asked.

Do you bet from home or have an office? Home
Do you stick to one particular sport or punt on several sports? A few
Do you try and hit a certain profit target each day and stop when you hit it? No
Do you try and hit your target with one large bet or several smaller ones? No target so N/A

Have these answers really helped you?
Report TELL DEL March 19, 2010 9:38 PM GMT
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 "

Yesterday I couldn't even spell professional and today I are one.
Report Gallivanter March 19, 2010 10:20 PM GMT

starfish and coffee 19 Mar 18:40
i'm going to invest in one of those SAD light machines.


Take vitamin D, I recommend the high strength ones from Boots. I used to be a miner and on some shifts didn't see sunlight from one week to another. That's when I started taking vitamin D. It has a noticable effect in just a few days. I still take them because you don't get enough light in dull weather.
Report clacherholiday2 March 19, 2010 10:43 PM GMT
paying for an office is a ridiculous solution, however the problem it solves is a real one.

a couple of years ago i was forced into buying a new computer, cheap dell effort with nofrills, just to run some gambling software. all my programs were buggy as hell on my then laptop and i found myself rushing tasks when it was running well and missing out on bets when it wasnt, it was a good solution.

having a reliable computer wasnt just giving me a stable and virus free connection to the internet, it also focused me as it was stationary in my bedroom and out of the way of all distractions. i hadnt planned on it making a difference but it did, the first thing i did everyday was get up and push the on button (not so thinly veiled i gambled in my pants post) and got things up and running, my laptop sat on the front room coffee table and became a toy again.

find a space to be comfortable and relaxed (without jeremy kyle blasting in the background), its important.

also if possible find a part time job, it takes a hell of alot of pressure off, noticed that about 5-6 years ago. many on here will tell you to have minimum 2 years salary in the bank or 10x+ whatever gambling bank behind you, its sound advice. having a part time job to pay the bills does as much to solve the security issue as it does the stress issue, having a couple years full time wages in the bank and a part time job would be ideal but if youve a winning formula/skill on here then it can help you maximise your time infront of the comp. it also gets you out the house on a regular basis, keeps you in touch with the real world, maybe in the right job itll keep you in shape too? might be worth having one just to remind yourself exactly why you like punting in your pants in the first place :)
Report clacherholiday2 March 19, 2010 10:48 PM GMT
oh yeah and if you havent found a method to win on here, back tested for as long as possible AND paper traded for a few months AND tested with real money being matched, then this thread is a waste of time.


im not FT btw, been there and seen it all though, working in bookies for 10 years, gambled online even before we could use bank cards to deposit :D if id known back when i was trying to make a go of it what i KNOW now, it couldve lasted a lifetime, was far too**y on winning days and found myself becoming a recluse. its always been a long term goal of mine, worked full time for long enough to get a decent mortgage on a house etc, always finding edges and quirks in the system, all experience, the number of horse races ive watched in my life must be close to 5 figures... depressing thought but i love it
Report YOULITTLEBOTTY March 19, 2010 10:58 PM GMT
Clacher you're depressing the hell outta me, that's for sure.
Report clacherholiday2 March 19, 2010 11:03 PM GMT
:D its a depressing topic really, why the hell would any young person want to do this ?
Report Knight Rider March 19, 2010 11:22 PM GMT
You've got it the wrong way round hghoulash, you're supposed to make lots of money and THEN turn pro. What you're doing is like joining the PGA Tour when you can't break 100 yet. Absolutely**ers..
Report Gallivanter March 19, 2010 11:24 PM GMT
why the hell would any young person want to do this ?

Because it's better than lining the pockets of a boss?
Report lmlac March 19, 2010 11:31 PM GMT
The fact that you're asking about meeting daily targets suggests to me that you don't really understand what the game is about. The game is about finding value somehow. There's more than 1 way to skin a cat and there's more than 1 way to find value bet scenarios. But not many will allow you the luxury of having a steady daily income. That's for people on a salary in a safe profession. Pro gambling isn't usually like that unless you are a courtsider betting after the event. Even when you have an edge you will still have to endure the long losing run. If you really have an edge and you can hold onto the belief in your edge through the losing runs, then you've probably made it. I would guess most people fail because a) they don't have an edge and are just having punts(95%?) or b) they have an edge and they can't psychologically handle the long losing run or c) they have an edge and they don't manage their bankroll well enough to see out the long losing run.
Report clacherholiday2 March 19, 2010 11:33 PM GMT
while lining their own at the same time.. your job security relies on your ability to set an alarm clock and iron a shirt, rather than the fav in a 17 runner handicap from brighton pulling up because a fly hit the horse in the face.

having regular cash coming in isnt to be sniffed at, allows a hell of alot more freedom than being a 'pro' on here, especially if youre just learning the trade.

why not do both?
Report clacherholiday2 March 19, 2010 11:37 PM GMT
when i say freedom there i mean mentally.

somebody rolling out of bed at 11am every morning and reading the racing post might claim to be 'free', unless they are well prepared then they are not. they will think about their 'job' and their money a hell of alot more than the bloke who clocks off at 5pm every night, some will thrive in that enviroment, others will buckle.

pro gamblers need to be very sure about themselves to clock off, most people couldnt.
Report McChicken_Sandwich March 19, 2010 11:47 PM GMT
I'm in 'difficult' position now.

Couldn't justify entering the workforce unless I found a career opportunity that genuinely interested me and that wasn't completely unobtainable.

But don't want to do this for the rest of my life :D
Report Gallivanter March 19, 2010 11:47 PM GMT
If you're going to take the risk of punting for a living, it's far better to do so when you're young, free and single than with a wife and children to provide for. That's why a young man would have a go.
Report tennis plums done March 19, 2010 11:50 PM GMT
deffo gallavanter, a mortgage, kids etc etc, and thinking of pumping 10k redundancy into here and trying to give it a go?? mental. but they do i'm sure, and some must make it
Report Gallivanter March 19, 2010 11:59 PM GMT
As Shakespeare said, Tennis, conscience makes cowards of us all. You can't go all in when the wife and kids need looking after, you have to build it up slowly.
Report clacherholiday2 March 19, 2010 11:59 PM GMT
its only a risk if you havent followed the advice of others and secured your front door from the wolves, either with a large bank or regular part time income.

the same principal would apply to an older family man as it would apply to an 18 year old out of college, the only difference is a younger man will have far fewer outgoings.

it should be easier for a younger person but its all relative, an older person might find buiding a stabilising bank easier and have experience in another field to fall back on, a younger person wont need to have as much under the matress as they will never need it.

saying somebody starting out young is ideal isnt true, it may be easier but problems could be created that will follow them the rest of their lives.

ask around..
Report tennis plums done March 20, 2010 12:01 AM GMT
what like 40k on credit cards...
Report McChicken_Sandwich March 20, 2010 12:01 AM GMT
The main issues are potential lifestyle, and gap in CV.
Report clacherholiday2 March 20, 2010 12:06 AM GMT
40k on credit cards is OK if you spent them backing barca the other night, otherwise yes that could be a slight issue :D
Report YOULITTLEBOTTY March 20, 2010 2:08 AM GMT
I bet hghoulash is now sorry he even asked the question.
If he wasn't a confused young man before, he must certainly be now.
Report CurlyBlues March 20, 2010 6:45 AM GMT
McChicken_Sandwich, I was in a similar position to yourself around this time last year. I was 23 and had been gambling for money since I began uni and 'full-time' for 2 years since I'd left.

I was getting a little bored of the monotony of watching sport everyday. It took me until August to actually decide to find work and I was gainfully employed by the 7th September. It was surprisingly easy to explain to my current employers what I had been doing, the skills it took and the reasons why I was searching for a career. I guess honestly is always the best policy.

As a sidenote, in the period from when I started work until now compared to last year, my profits from gambling are actually up 15% and I'm convinced this is because of a) I no longer have the financial pressure to win and b) I enjoy doing it again now that its not my 'job'.

Just my experience.
Report Glengarry Glen Ross March 20, 2010 8:25 AM GMT
CurlyBlues 20 Mar 07:45
McChicken_Sandwich, I was in a similar position to yourself around this time last year. I was 23 and had been gambling for money since I began uni and 'full-time' for 2 years since I'd left.

I was getting a little bored of the monotony of watching sport everyday. It took me until August to actually decide to find work and I was gainfully employed by the 7th September. It was surprisingly easy to explain to my current employers what I had been doing, the skills it took and the reasons why I was searching for a career. I guess honestly is always the best policy.

As a sidenote, in the period from when I started work until now compared to last year, my profits from gambling are actually up 15% and I'm convinced this is because of a) I no longer have the financial pressure to win and b) I enjoy doing it again now that its not my 'job'.

Just my experience.


Hi Curly
I am going semi pro from the start of October this year.
I have waited a long time to get myself into a position where I can study the form and have time to trade on the races I have selected.
I am still going to work as I will be specialising on AW sprint hcps and will have a max of 3 trades per day.
I also really enjoy my work and get more out of it than I put in.


From November 2009 until now I have proofed my selections/trades to 6 other forumites.
I needed to do this to sharpen my act up and prove to myself I can do it.

It can be done with,
Specialisation.
Form study.
Knowing a horses racing style.
Discipline.
Betting Bank.
Money management.

Any other things I should do, please add, will be gratefully received.

All my spare money is going towards my Bank for the AW 2010/11

I would say wish me luck, but hope to make money by doing the above, luck playing its part just a little, now and again.

GGR

Enter Delta!!!
Report Relentless March 20, 2010 8:33 AM GMT
best advice I can give is :

Only take advice from pro-punters. I am not a pro-punter.

Good luck.
Report johnizere March 20, 2010 9:52 AM GMT
Glengarry Glen Ross 20 Mar 09:25

Specialisation.
Form study.
Knowing a horses racing style.
Discipline.
Betting Bank.
Money management.

The extra factors I have difficulty fitting into the above..

Trainer style (Is he sending the horse out to win or lose that day?.. and don't tell me it doesn't happen...)
Jockey style (as above)

These are two of the most uncalculable factors in my opinion, and there will never be a way to suss them out. gl.
Report pmbets March 20, 2010 11:26 AM GMT
I willgive you some good advice before you start and this is from someone who pays premium charges.Yes I received the dreaded letter from the bf management.

Firstly:- Since the world credit crisis people have been cutting back on their credit cards,less equity in houses,people worried for their jobs,continual errosion of wage levels dues to the governments acceptance of millions of skilled illegal immigrants,double dip recession fears,on track racetech in running punting,more suspect races uk/usa/oz etc due to owners connections etc needing more equity,more information on succesful wagering i.e. more people doing the right things.etc etc.

All this results in LESS EDGE due to the prices been what they should be or lower .I will give you an example.I have followed usa horse racing since 2000.In the early days every horse almost was well over the track odds.Many favs could be just punted or traded and come down from 5/2 to odds on.
Today many many more horses are returning bigger price on track and you have to factor in the the track price is after 20% is deducted.Also much much less people playing.
All these factors are similar to the poker explosion when the americans where allowed to play poker online.Since the UIGEA(unlawful internet gambling enforcement act)poker has been dying a slow death.Check the poor numbers and low players in flop percentages on here and all poker sites.

The point is the effort making money on here and the effort making money with your own business is the same.However the rewards as a pro punter are veryvery small compared with the same effort going into a business successfully of course.
This is how markets work.The glory days of BF are long gone IMHO and with wealth moving to asian countries especially China the glory days of capatalism are long gone in the western world.
So my advice is you will make more money by getting a job and planning your future away from pro punting.It was a great life but them days are now over for this lifetime.
Report Lori March 20, 2010 11:30 AM GMT
pmbets 20 Mar 12:26


I willgive you some good advice before you start and this is from someone who pays premium charges.



:^0
Report pmbets March 20, 2010 11:33 AM GMT
The thing is Lori this guy is very young.What I am saying is that an older pro like myself is giving good advice to a young lad who is just beginning his path in life.
Report Lori March 20, 2010 11:35 AM GMT
I love the idea that you're calling yourself a pro after some of the dire efforts you've made recently :D

Also love the notion that betfair write to you about the premium charge
Report pmbets March 20, 2010 11:54 AM GMT
You are a sad loser Lori obviously.The letter will go like this. 'We are writing to you to inform you that last week ,for the first time you would have been required to pay the premium charge ending The Betfair Management .
I probably have some of your money Lori.Also why do you think all my bets I make an edge on I would give on the forum?It's up to you.But if you do your own research you will find I am your peer and you have much to learn.
Report pmbets March 20, 2010 11:55 AM GMT
BTW I have a good well paid job 50k plus.You can be a pro and have a job.For me thats the best way as the job is an insurance.
Report The Betfairy March 20, 2010 12:07 PM GMT
What's 50K after tax these days?
Report Lori March 20, 2010 12:07 PM GMT
I got one email september 8th 2008 telling me they were changing the price structure and that I had to sign the new T+C as if my results continued in the same manner as the last 6 months I'd have to pay the charge.

No letter or anything.
Report curlywurly March 20, 2010 12:20 PM GMT
pmbets is obviously very special indeed
Report Hayden March 20, 2010 12:24 PM GMT
The only certainty on a gambling forum these days seems to be that that every thread with meaningful intent will eventually degenerate into a slanging match of sorts and a couple of punters ending up personally abusing each other , this thread was a decent read but unfortunately has just fallen into the same category.
It's all anonymous for gods sake and indeed relative so nobody should care who's got the biggest this that and the other , cue the almost scripted forum response these days of feck off and nobody forces me to read the thread.


Good luck today guys.'
Report Lori March 20, 2010 12:29 PM GMT
Hayden,

this guy is offering deliberately misleading advice in nearly every forum every day. The post in this thread is no exception.

That stuff needs to be called out, especially as the forums are effectively unmonitored.
Report CurlyBlues March 20, 2010 5:14 PM GMT
GGR,

I can't really give you much advice (even if I wanted to) in regards to horse racing. My efforts there are limited literally to the odd track day drinking with my friends. Even then I tend to avoid actually gambling too much and it isn't an experience I would recommend.

Best of luck, if it all goes wrong atleast you'll still have your job to fall back on. You're Wiltshire based too, right? Extent of my racing knowledge is that the Salisbury races are supposed to be alright (never been myself).
Report picknowpaylater March 20, 2010 5:24 PM GMT
hghoulash

id say go for it, no point doing it whilst you have kids and a mortgage to pay.

Split half your money to betting put the rest in an ISA.

if after one month you've not won 25% of your starting bank then quit.

And Specialise in areas you know best and never chase.
Report eggman March 20, 2010 5:55 PM GMT
pmbets 20 Mar 12:26
Yes I received the dreaded letter from the bf management.


You're having a laugh, surely...

Anyway, there seem to be quite a few threads of this nature recently. The questions asked normally show that the thread starter is unfortunately nowhere near ready to go 'pro'. Worrying about how much to make a day, bank sizes and so on. These things just should initially be of little or no concern. Compared to the real difficulties of actually making it pay, they are trivialities.
Report cricketjon March 20, 2010 6:41 PM GMT
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
Report BobSievier March 20, 2010 7:12 PM GMT
The problem is all these flat screen tvs have made the cardboard boxes big enough to live in quite rare . be very careful , this game is ruthless.
Report old crumpy March 20, 2010 8:30 PM GMT
small business now retired 1 only 2%win 98 lose 2 small is nice .3 if you what to be a full time pro thousands have tried it bookers waiting for you 4 look chelentam would you have won no you would have lost how much business start up forget it country gone tax mad too much state money to certain people who dont deserve it as abusiness with taxes you pay plus on top of that you make any money out the the business the company pays another 21% tax and petrol costd bank charges how can you employ people 28 days holiday pay country gone move on
Report starfish and coffee March 20, 2010 8:34 PM GMT
words of wisdom
Report MONEY TREE March 20, 2010 8:47 PM GMT
dont follow tipsters.
Report Glengarry Glen Ross March 20, 2010 8:49 PM GMT
20/03/2010 08:19



Morning All



Nice to get a nice trade under my belt last night.



One horse to keep an eye on from Cheltenham is imo

Petite Robin, he is a natural front runner and I can only think that AP was told to run to orders and hold him up in his race.

Next time out if he runs his normal race he should be a rock solid Back to Lay proposition.



Anyway on to today´s racing.

I have not looked at the Derby but the 7f Hcp instead.

As you can see from my ratings it is very tight at the top. With Scorching Wind and Seek The Fair Land joint top rated.

In this circumstance I would look to see if either were QA or SA horses but as you can see they both like to be prominent.

So I now look at the prices being offered and this is where the value lies.

I have helped myself to some 8´s, 7.8 and 7.6, which I thought was good value and put in Keep lays @ 5.5 and 5.2



I see for small money he has drifted to 8.4, if he goes out to 9´s I will play again.



Have a good day and keep in touch

Paul



Ratings below as always






K 150
5F 125 L 150
14:25 6F 125 S 150
10 Run Sportingbet Supports Heros 'super 7' Handicap (final) 7F 125 W 150
Class 2, £50000.00 added, 4yo plus, £31155.00 penalty R25 R20
7f CL 2 7.0 L #### #### O15 O5
Back to Top 125 150 20 120 150 40 40 25 20 10 10 0 710
Form Horse Trainer Age Wgt Jockey OR Pr D D Pr G G WM R/F O/F R S Q A T J CD C BF DR Total
1(10) 0623-41 Everymanforhimself (IRE) K A Ryan 6 9 10 N Callan 97 6.6F 108 L- 140 0 116 128 HU -10 10 492
2(9) 113276 Autumn Blades (IRE) A Bailey 5 9 8 David Probert 95 7F 125 L 150 0 114 124 HU -10 20 10 533
3(3) 410-113 Elna Bright B R Johnson 5 9 8 K Fallon 95 7F 125 L 150 0 98 118 HU -10 10 10 501
4(4) 1208-31 The Scorching Wind (IRE) S C Williams 4 9 6 R L Moore 93 7F 125 L- 140 0 110 140 PR 20 10 545
5(6) 0318-72 Wigram's Turn (USA) A M Balding 5 9 3 J Fortune 90 7F 125 AW++ 120 0 96 127 SA -20 448
6(2) 4-11540 Tourist D Shaw 5 9 3 J Quinn 90 6F 85 AW++ 120 0 ??? 20 SA -20 10 15 230
7(7) 30510-6 Kyllachy Star R A Fahey 4 9 3 P Hanagan 90 7F 125 L- 140 0 ??? 30 HU -10 20 10 315
8(5) 543556 Carcinetto (IRE) P D Evans 8 9 2 R Hughes 89 6.6F 108 L- 140 0 ??? 65 AL 40 353
9(8) 5135-22 Bravo Echo M J Attwater 4 9 2 Luke Morris 89 7.5F 105 L-- 130 0 110 134 PR 20 25 524
10(1) Dec-21 Seek The Fair Land J R**4 9 1 P Cosgrave 88 7F 125 L 150 0 118 122 PR 20 10 545
The Scorching Wind (IRE) S C Williams 4 9 6 R L Moore 93 7F 125 L- 140 0 110 140 PR 20 10 545
Seek The Fair Land J R**4 9 1 P Cosgrave 88 7F 125 L 150 0 118 122 PR 20 10 545
Autumn Blades (IRE) A Bailey 5 9 8 David Probert 95 7F 125 L 150 0 114 124 HU -10 20 10 533
Bravo Echo M J Attwater 4 9 2 Luke Morris 89 7.5F 105 L-- 130 0 110 134 PR 20 25 524
Elna Bright B R Johnson 5 9 8 K Fallon 95 7F 125 L 150 0 98 118 HU -10 10 10 501
Everymanforhimself (IRE) K A Ryan 6 9 10 N Callan 97 6.6F 108 L- 140 0 116 128 HU -10 10 492
Wigram's Turn (USA) A M Balding 5 9 3 J Fortune 90 7F 125 AW++ 120 0 96 127 SA -20 448
Carcinetto (IRE) P D Evans 8 9 2 R Hughes 89 6.6F 108 L- 140 0 ??? 65 AL 40 353
Kyllachy Star R A Fahey 4 9 3 P Hanagan 90 7F 125 L- 140 0 ??? 30 HU -10 20 10 315
Tourist D Shaw 5 9 3 J Quinn 90 6F 85 AW++ 120 0 ??? 20 SA -20 10 15 230
Report brendanuk1 March 20, 2010 8:52 PM GMT
Tax is good point.
Report eggman March 20, 2010 8:58 PM GMT
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


If you're scalping, you could make 10,000 a year from a 1000 bank quite easily (even from a 100 bank) and you wouldn't concentrate on one sport; why limit yourself?
Report SM March 20, 2010 8:58 PM GMT
old crumpy 20 Mar 21:30

small business now retired 1 only 2%win 98 lose 2 small is nice .3 if you what to be a full time pro thousands have tried it bookers waiting for you 4 look chelentam would you have won no you would have lost how much business start up forget it country gone tax mad too much state money to certain people who dont deserve it as abusiness with taxes you pay plus on top of that you make any money out the the business the company pays another 21% tax and petrol costd bank charges how can you employ people 28 days holiday pay country gone move on



Impossible not to read this post in the style of REM's It's The End Of The World As We Know It.
Report old crumpy March 20, 2010 9:07 PM GMT
i been there thought easy forget it now i enjoy itjust play to win 10 pound a day doing okey win 4000 a year think i get 2 000 min but every time i go for it opps so now never go for it enjoy brings confidence
Report Lozzy March 20, 2010 9:13 PM GMT
Forget it and dream on, Takes 20 years of learning and hard knocks before even the best can think about turning pro.
Report starfish and coffee March 20, 2010 10:24 PM GMT
bonus 12'' version SM
Report yazza101 March 21, 2010 12:05 AM GMT
hghoulash, I think I'm the same as you, betfair recently stated that I think it was like 2.5% of all betfair customers are in reasonable profit/made a living, and none of them are in the U.K. I suggest having a decent bank on here to make a part-time wage/min wage while doing something else
Report yazza101 March 21, 2010 12:05 AM GMT
age*
Report morrissey March 21, 2010 1:27 AM GMT
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..
Report McChicken_Sandwich March 21, 2010 2:58 AM GMT
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.
Report yazza101 March 21, 2010 3:05 AM GMT
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
Report YOULITTLEBOTTY March 21, 2010 5:41 AM GMT
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.
Report YOULITTLEBOTTY March 21, 2010 5:41 AM GMT
"---had taken another road -----"
Report YOULITTLEBOTTY March 21, 2010 5:43 AM GMT
--" monetary success "
Typo hell here.
Report the late mail australia March 21, 2010 7:46 AM GMT
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.
Report Extractor March 21, 2010 9:36 AM GMT
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?
Report raspberrybottom March 21, 2010 8:16 PM GMT
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? :)
Report catfloppo March 21, 2010 9:48 PM GMT
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.
Report YOULITTLEBOTTY March 21, 2010 10:22 PM GMT
OK floppo, will do.
Report YOULITTLEBOTTY March 21, 2010 10:24 PM GMT
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.
Report Rafael Nadal March 21, 2010 10:37 PM GMT
Pro gamblers existed before Betfair... and they weren't all **s.

But you are right to suggest caution.
Report dukeofpuke March 21, 2010 11:16 PM GMT
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
Report dukeofpuke March 21, 2010 11:17 PM GMT
i should of said to get action
Report Coachbuster March 21, 2010 11:19 PM GMT
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 .
Report Treble_Underscore March 22, 2010 12:12 AM GMT
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.
Report Mordin. March 22, 2010 1:03 AM GMT
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??
Report YOULITTLEBOTTY March 22, 2010 2:18 AM GMT
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 ?
Report tobermory March 22, 2010 2:46 AM GMT
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.
Report YOULITTLEBOTTY March 22, 2010 3:46 AM GMT
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.
Report TheSnapper March 22, 2010 8:03 AM GMT
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.
Report TheSnapper March 22, 2010 8:59 AM GMT
...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...
Report TheSnapper March 22, 2010 9:06 AM GMT
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?
Report TheSnapper March 22, 2010 9:20 AM GMT
Ye be makin' th' mistake 'o thinkin' that all traders make a lot 'o trades per event. I make only one.
Report SM March 22, 2010 9:51 AM GMT
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?
Report TheSnapper March 22, 2010 9:54 AM GMT
Aargh! Debatin' wit' a landlubber! That's it fer me too!
Report McChicken_Sandwich March 22, 2010 10:26 AM GMT
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%...
Report five leaves left March 22, 2010 11:07 AM GMT
'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
Report starfish and coffee March 22, 2010 11:23 AM GMT
50k at 2% of turnover, that's 2.5 million
Report Contrarian March 22, 2010 11:51 AM GMT
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!!
Report CLYDEBANK29 March 22, 2010 11:59 AM GMT
April Fool
Report CLYDEBANK29 March 22, 2010 12:00 PM GMT
OP done a runner and given up already?
Report Facts March 22, 2010 12:21 PM GMT
The 4th post had the answer !!
Report Lucky Joe Joe March 22, 2010 12:35 PM GMT
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 .. :)
Report YOULITTLEBOTTY March 22, 2010 7:38 PM GMT
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.
Report Facts March 22, 2010 9:23 PM GMT
Lucky Joe Joe

Agree with you ,except recommending A Bloody Good Winner.
Its absolute tosh !
Report Lucky Joe Joe March 23, 2010 2:07 PM GMT
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 .
Report YOULITTLEBOTTY March 23, 2010 2:12 PM GMT
You mean " --- hunt them down mercilessly ".
Sounds mean and good.
Report TRICICLON March 25, 2010 10:54 AM GMT
...
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