Hello there Aye Robot. 2% was just a random percentage that I used. If you lived in Australia for example then you can use a higher percentage. On top of that you also need to take into account that it does require some work and effort to obtain your return from betfair, whereas if you stuck your money in an account you would not have to do anything at all to make a return. Plus you also have to factor in the security and the element of risk that you need to expose yourself to in order to obtain your return from BF. Taking all this into account an individual may feel that it's not worth doing it unless they can obtain a 10% plus return from their capital.

I suppose that for all the super successful people on here like yourself there are many more who are struggling and scratching around trying to make it work. How do these people determine whether it's worth continuing to carry on with what they are doing or to stop and think about doing something else instead. You said before "if you're in that position give up".

My point is that you need some barometer in order establish the worthiness of your betting quest and I feel that your percentage profit from your bank is a good barometer. Your are in a very lucky (although i'm sure lucky is not quite the right word as i would imagine that you had to work very hard) position where your return is miles above this threshold that it is not on your radar, but i believe that for many people the question of "would my money be better off elsewhere?" is much more relevant.

kenilworth
Date Joined: 04 Nov 05
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When: 06 Apr 11 07:08
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Date Joined: 04 Nov 05
| Topic/replies: 4,951 | Blogger: kenilworth's blog
I don't increase my bank, as I spend my profits. What else
are they for ?


This will be the case for many people. I don't believe I am at capacity for my strategies, so I'm plowing much of my profits back to increase my trading capital.

This is how my 2010 GP was divided: Betfair 22% (comm, PC etc), Other beneficiaries 9% (software, hardware, interest etc.), me 19% (what I 'pay' myself), retained profit 50%.

aye robot
When: 06 Apr 11 13:07

[...]
I think underlying some of this "analysis" is a desire to see how you're doing relative to others. That's pointless and silly. The only thing that matters (if you're not playing for fun) is how much money YOU make.
[...]

I agree with that (with the caveat that a few other metrics can be important along with size of profit).
You should be making as much as you possibly can, regardless of how well others are doing. I don't think that means ignoring the performance of others though, as you can seek to emulate those making more than you.

Hello there Aye.

I think we pretty much agree overall with each other on this one. You say "But I still think it's relatively easy to make that distinction without over complicated measures" but i'm not trying to complicate things. Calculating your percentage return over a year from your bank balance is not very complicated (not in my case). I would estimate it as being a minute's work tops. There's no real effort or overanalysing involved. As mentioned before i agree with you on ROI.

My only dispute with you was when you mentioned that calculating your percentage profit from your bank was meaningless statistic, although i'm sure in your case it is, but not for some.

Actually now i come to think of it I don't think that asking the question "am i earning more than i did in my job?" is a simpler question as there are many other factors to consider rather than just money if changing from employment to BF. Anyway apologies as it now seems that i am becoming a tad argumentative when in essence i agree with the fundamental point you are making.