£10,000 betting pool, need a monthly return !

It's very possible but so is splitting atoms, you just have to know how to do it.

ps as of the pc charge ud need around 7500 as bet unfair would take roughly 50 percent

so you need 7500 a month not 5000 to make it

Two or three kids a wife and a mortgage means you need around 5k a month for an average standard of living.

To the original question, it's possible but you should know the answer yourself due to how you've performed over the previous years you've been on here and how liquid the markets are you operate in. Only you know the answer and if you're asking the question I doubt you'd manage it.

good answer buzzer !

i think its from near impossible to impossible.   if you had to make sure of 5k a week .. 7.5k inc pc

like buzzer said if your asking you won't have a clue an are quite away from being even close

You should tell him to leave his wife, sell his house, have his children adopted and move into a bedsit then but he'll probably still need a couple of k a month if he wants a half decent car and holidays and a bit of socialising.
To me if he needs 5k a month to look after his family he probably has a mortgage of 100k plus, a couple of children takes a holiday or two abroard a year and has/had a job paying 80kish a year, so to maintain HIS current average standard of living he requires 5k a month.

from the way the question is framed, the OP sounds like he has little or no experience on here.

in which case putting in 10K and trying to make 5K a month off it is doomed to failure, imo.

If you're trading, then £10k is easily enough to make that sort of amount. The problem, as GetOnMassive suggests, is that it is not something that you can just start doing without any experience or specialist knowledge. (Although in the early days of Betfair, trading some of the markets on here was child's play).

By the way, re. Buzzer's comments, I live in C. London with a girlfriend and 2 kids, and find it hard to get by on less than about £5k a month.

Well I suppose your geographical location plays a big part.

early bet fair days was childs play for sure .. boy do i miss those days!  an there was no pc charge!

brazilan matches when first started ... awesome ... ref blows final  whistle markets don't suspend and 1.29 to take  for 1000s on unders  ... always wondered how long that would last

buzzer   


What do you mean whatever?
5k a month with a family to support and a mortgage is almost a minimum requirement if you actually want a life for yourself and your family.
I know many get by on less but from what the poster has said this amount is what he needs, monthly, to get by. I have no mortgage now but, with three children at home, I still need that to keep up a fairly average standard of living.

99% of family probably live on under £3k a mth max...your in cuckoo land dc.

The answer is that it's almost impossible from a standing start.

It may be poss., and even poss. for you, if 1) you put in a long apprenticeship of finding some strategies that work for you; 2) you grow your bank from the current 10k slowly, betting selectively and supposing you will make no more than 2-3% per bet (the percentage actually varies widely depending on how selective you are, how often you bet and the variance of yr returns), and 3) you spend every hour God sends in front of a betfair and an odds aggregator screen.

I have never consistently made as much betting as you hope to, and my bank is very much greater than 10k. I do it part-time pseudo-recreationally, in part because I know I can make more money per hour in my non-betting career.

It is easier to make money in any job I can think of than by betting. The explanation is that a lot of the returns of the job are leveraged out of personal and corporate relationships; there are no relationships in betting (you are doing it on their own) or they have negative value (the bookmakers are your antagonists and they tolerate you because they think you are worth something to them, not the other way round).

Thus the return you get on your labour power benefits from no synergy effects with anything else at all.

Yes It is possible to make 5k monthly using 10k bank.

You need experience, discipline in staking, good bet selection, good strategy, good reader of market and sport to guess odds at any point (in-running).

Only if you do Inrunning. Based on my experience.

The odds of you or anyone else having all these qualities and able to do is 1 in 1000

well the beauty of betfair is they promise its the best place to make a profit and if you become one of the one in ten thousand winners they will take the majority of your profit off you while they spend like there's no tomorrow, simplicity

It is possible even with 1k not 10k like I did.

I started with 500 pounds to 1k in 2005 in betfair. I managed 6k per month average until 2006. From 2007 to 2011 I averaged 7k per month. I keep only 2k (may vary sometimes) most of the times and manage to make good profits using this amount. I do have some back up plan in losing streaks. I do lower stakes in losing times and up my stakes during winning times.

You need to find a strategy which works for you. I did 100% myself without any third party help or fast pictures help. There are changes in betting styles and sports that I play and the way that I play. These are market adoptations. You need to be more than one trick pony to survive long term.

I love sports and enjoy watching. I like maths and playing with numbers. I think these are the reasons for my success as I found my strenths and used them effectively to make money.

from a standing start, breaking even would be a challenge Vis.

In my opinion, forget about looking to profit at the outset.

I liken it on here more to paying for a market education, much like getting a degree. If you are wise with your money, you can pay mostly with your time here, rather than cash because as others have mentioned, for the majority of people, you wont begin profitable.

It takes time to learn and you need to have plenty of falls before you can run. Those falls become the greatest gift and they dont need to cost you much financially.

The best thing you can do is learn the markets and learn about yourself and play with tiny sums of money.

Forget about financial targets for now, just look to learn how edges are created, test your ideas and most importantly, learn about yourself and your own strengths and weakness during the process.

If I was starting for the first time today, I would put no more than £200 in my account and have no trade bigger than £2. You can play with pennies using gruss, its all you need at the beginning.

The 10k can sit snugly in the bank, you do not need it to discover this place. In time, you can grow and by the time you are playing decent sums per trade, you will have a wealth of knowledge behind you, both about exchanges and also about your own psychological state of being.

Best of luck in whatever you decide to do