General Betting
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I am on the verge of increasing my bank to 2,000. Am I teetering on pro shores?
Considering this has been my full time job these past few months, I feel it's about time I give this a serious shot.
What is the size of bank needed to earn the average wage in your opinion?
My aim is a simple one.
Is to try and earn as much as I can per day by taking as little risks as possible. No set target. It's going to take patience, monumental discipline, time and the will to not get carried away with potential boredom. I have done this with success for a month before, only to lose discipline after a month by venturing back into the gambling world again - betting on the dreaded over 2.5 goals bets, to name but one
Severely lowering the gambling aspect is the way forward for me. I know this because when I lose it's because of greed and reaching for excitement levels that conservative betting doesnt bring.
*Greed
*Discipline
*Boredom
3 big factors that have lead me to the poor house many times in the past.
When I revert back to betting on 1.08 odds (for example) when my head is telling me the certain event is more or less over, I do well again. It's low excitement betting but given me results. It's only when I get greedy, become bored and start taking chances again, it all goes wrong.
Gambling is fine if that is your aim. But you cannot earn a living from gambling, I know that much for certain. We all know you have to have some plan in order to try and do this. It's not feasible for me to gamble to try and earn a living. Trading also involves gambling. My aim is to eliminate risks.
Getting past the 3 words above is the key to mine and many peoples success on here. Easier said then done for many, I know.
Considering this has been my full time job these past few months, I feel it's about time I give this a serious shot.
What is the size of bank needed to earn the average wage in your opinion?
My aim is a simple one.
Is to try and earn as much as I can per day by taking as little risks as possible. No set target. It's going to take patience, monumental discipline, time and the will to not get carried away with potential boredom. I have done this with success for a month before, only to lose discipline after a month by venturing back into the gambling world again - betting on the dreaded over 2.5 goals bets, to name but one
Severely lowering the gambling aspect is the way forward for me. I know this because when I lose it's because of greed and reaching for excitement levels that conservative betting doesnt bring.
*Greed
*Discipline
*Boredom
3 big factors that have lead me to the poor house many times in the past.
When I revert back to betting on 1.08 odds (for example) when my head is telling me the certain event is more or less over, I do well again. It's low excitement betting but given me results. It's only when I get greedy, become bored and start taking chances again, it all goes wrong.
Gambling is fine if that is your aim. But you cannot earn a living from gambling, I know that much for certain. We all know you have to have some plan in order to try and do this. It's not feasible for me to gamble to try and earn a living. Trading also involves gambling. My aim is to eliminate risks.
Getting past the 3 words above is the key to mine and many peoples success on here. Easier said then done for many, I know.
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10k
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Trying to make a living backing 1.0x shots will leave you broke in the long run unless you have exceptional judgement. The way you post makes me doubt that very much
If that is your strategy, I'd suggest you back the 1.0x about you going broke before the end of the year |
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Posted the same on soccer, but as its a pathetic forum might as well stick it on this one as well. I must say I agree with Troy's assessment.
I am on the verge of increasing my bank to 2,000. Am I teetering on pro shores? No. Considering this has been my full time job these past few months, I feel it's about time I give this a serious shot. Good luck. What is the size of bank needed to earn the average wage in your opinion? Why does an "average wage" interest you? This is something you should consider doing if you have a real talent in one or more specific areas, because it offers you extra freedom, and a lot of benefits compared to other lines of work - but also has a lot of drawbacks. For example if you are out of the workplace for 5-10 years and can't make it pay any more, just making an average wage will then reflect in you being far lower down the pecking order of any prospective career than people 6 or 7 years your junior. You should be targetting at the very minimum twice what you can earn in take home pay in "gainful" full-time employment. My aim is a simple one. Is to try and earn as much as I can per day by taking as little risks as possible. No set target. It's going to take patience, monumental discipline, time and the will to not get carried away with potential boredom. I have done this with success for a month before, only to lose discipline after a month by venturing back into the gambling world again - betting on the dreaded over 2.5 goals bets, to name but one You really haven't convinced me you are anywhere near ready to turn professional. Severely lowering the gambling aspect is the way forward for me. I know this because when I lose it's because of greed and reaching for excitement levels that conservative betting doesnt bring. I have my doubts that this is ACTUALLY the reason. *Greed *Discipline *Boredom 3 big factors that have lead me to the poor house many times in the past. To an extent, you might be right. But these are often fallacies that people use to cover up other, more damning facts about why THEY cannot win in the long run. Yes, they are qualities that you need/things you need to control/avoid. When I revert back to betting on 1.08 odds (for example) when my head is telling me the certain event is more or less over, I do well again. It's low excitement betting but given me results. It's only when I get greedy, become bored and start taking chances again, it all goes wrong. If you are simply betting 1.08 shots that are correctly reflected in the market, you won't win in the long run. If you are correctly assessing that the odds should be 1.04 (for example), and are getting 1.08 you actually have a huge advantage and would make a lot of money very quickly. I imagine it would actually be quite exciting in a perverse way, because when your selections do come close to losing in a surprising turnaround, it would be impossible to look away. Gambling is fine if that is your aim. But you cannot earn a living from gambling, I know that much for certain. We all know you have to have some plan in order to try and do this. It's not feasible for me to gamble to try and earn a living. Trading also involves gambling. My aim is to eliminate risks. I'm afraid you are very much mistaken. The fact is YOU cannot earn a living from gambling. That doesn't mean that NO-ONE can earn a living from gambling. Of course trading involves gambling. With a bank of 2k, you would need a lot of value 1.08 shots to make anything like a good living, especially if you are being sensible with your bank. Getting past the 3 words above is the key to mine and many peoples success on here. Easier said then done for many, I know. Those three variables alone are not enough to ensure long term success. Simply put, controlling or using them to your advantage will most likely make your money last longer. It won't turn a loser into a winner. |
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Those three variables alone are not enough to ensure long term success. Simply put, controlling or using them to your advantage will most likely make your money last longer. It won't turn a loser into a winner.
This is very true.imo Money doesnt maketh the Man |
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Turning Pro/making a living/going full time on betfair ,lol , im not saying it cant be done but this has to be three of the most stupidest things that i read about on this forum,,,,
A Pro gambler HAAAAAAaaaaaaaaaaaaaaaaa gl |
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yeah it seems it is the easiest way to blame greed, discipline etc when you lose..
you can spend the afternoon gambling, with no real ryhme or reason, but be on a bit of a run, your discpline and greed will still be playing a huge part but why question it when you are getting a few bob, then the loss comes or maybe 2, thats when you say, " i should have stopped at the last winner, I only lost cos i was greedy, I knew i should have more discipline!! " The successful ones who make a living have the ability first of all, the sense that they know losers do happen and are best equipped when it does happen, if you are very good at what you do, then discipline etc should just come naturally, be part of your whole make up, not something to be blamed for poor performance.. :) |
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Take 50 and learn to trade. That is where one should start IMO as it is low in risk and volatility and you don't need much capital. If you can't make enough to live on by the end of the year from a bank of 50 you shouldn't be trying to make a living from betfair.
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Very good post Double Underscore. Its a very long post with lots of points and I find myself agreeing with every one.
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I can hardly make out What Underscore as written as it's mixed in with mine, but the bit where he says people can earn their living from gambling was a ridiculous comment for all kinds of reasons.
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if ur bank is 2k n u r backin under 1.08 shots, the you shud look to get a few more hours overtime rather than wasting your time tellin us about it.
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Why cannot some people earn their living from gambling?
Btw, I don't. I make a better return on capital than from my business but my way of winning on the horses is not scalable. |
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I always find it absolutely astonishing that people come onto these forums and swear blind that it is impossible to make a good living by gambling. It is rather like me saying that no-one can hold their breath for more than 90 seconds simply because I can't do it and no one that I know can do it.
It is certainly very hard to make a living by gambling, and I suspect that a large percentage of people could never make it pay, no matter how much work they put in, but people can and do make a living from betting on sport, and many of those people use this site, and I would venture to add, these forums. |
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My god, that last sentence was horribly long and convoluted, but I'm sure that you get my point.
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Iv'e just held my breath for 90 seconds :) now I'm going to try my luck on the ManU game.
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I had to hold my breath for 90 seconds just to read that sentence.
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why do the people who aren't successful (or as successful as they think they should be) believe they know what it is that is preventing them from being successful?
very very strange. |
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odwyer1980,
You should read what double underscore has said carefully as he talks a lot of sense. I know that it is not what you wanted to hear when you started this thread, but it is the truth. |
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Seeing as you're still working out how to eliminate your mistakes, you are miles away.
I believe you posted a little while ago that you'd had your best week ever, a win of around 700. When that becomes a bad week, you might be ready. |
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10k, but with 50k become the market maker.
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I would class greed as my most valuable asset for making a success of betfair.
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2000
i turned 2000 into 14,000 in 4 weeks, low risk betting. im considereing it but will give it 1 MORE YEAR to try it. if i am good enough i will have built up a canny pot for next year and will be safe in the knowledge that i am cut out for this. Thats my opinion on it. |
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play poker, dozens of 4/1s can be had at 8/1 plus every day, i made $800 in two months playing micro limit games only, take a few months to learn the game and you cant go wrong, better than beating yourself up every year trading minute price discrepences on sports.
taking my game upto $1/2 limit this month and should make around $800-$1000 a week, hope this helps. |
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Superfly, I've never even looked at Poker, is it people against people, or people against random generator? If it's the latter then seriously quit now while you're ahead mate.
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Trevh, you would have to be seriously bad to not make money against some of those that are playing and if your worried about RGNs you should look at horseracing/tennis/football, all worse than the RNGs.
Theres too many people with millions of poker hands worth of stats, seriously some of the big sites have upto 80,000 playing at any one time. ive had bucket loads of sick sick beats but still make a profit, its only the same has when you have days when all the outsiders are winning on the horses |
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show me where else you can back a 4/1 shot at 8/1 or 10/1, dozens of times every day
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Superfly...are you talking about the x-game poker or by playing real poker?
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jeski, im talking about LIMIT Holdem, note- not No Limit Holdem, and yes they are real games against other opponents online
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ok, do you mostly play on Betfair?
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i play at another site also
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show me where else you can back a 4/1 shot at 8/1 or 10/1, dozens of times every day
...sorry to hammer you with questions..just curious...what do you mean by that? |
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if you dont know how to play yet, just learn the basics and play a really tight game at full ring tables and clear the bonuses they offer, you can get $500 at some of them
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right, I'll have a look into it...I've played a lot of 'sit and go' tournies on here and have done quite well, like you say it's about playing a tight game and this is def something I need to improve on. Good luck with it, sounds like your doing well with it.
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I get caught out by playing weak occ and so need to learn a bit more about playing a good game.
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say you have a flush draw and an open ended straight draw, you will have 15 outs which means you only need around 3/1 to make the best hand but there 4 people in the hand and you are getting everyones money which adds upto 10/1, so you will make your hand at 10/1 odds for something that happens far more frequently than the odds you are getting
you need to read up on basic poker maths and strategy |
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forgot to add, to make good money you really need to multi-table as the low stake games wont make you enough on there own
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I see what your saying...didn't really look at it like that, I suppose there are many 'value' bet scenarios in the game. I do enjoy playing poker and I will take your advice and read up a bit about strategy's and other related stuff. ta
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I've tried multi-table playing before and it didn't work for me, I found that I was playing completely different on each table as I had no real tight game plan to follow. I understand that playing a few tables at the same time would be beneficial, just need to get my game sorted.
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head over to 2plus2 poker and order youself the SSHE book (small stakes limit holdem), read that for 3 weeks and you will improve
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ok thanks for that....will def have a look, thanks for the advice...much appreciated.
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