General Betting
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OK ive often looked around this place and reckon you could with the right amount of capital bet fulltime, although if you are smart fulltime may not be the correct term as one large wager that wins is enough to keep you in income for the week or the month etc etc, simply by using some grey matter and discipline it can and probably is done, whos doing it, what are your stratagies, and what is the commision that betfair take on the large punters ,or is it the same as small punters. ...............just curios aye.
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whos doing it
Me. Lots of small bets per week though, I wouldn't entertain one large bet per week. If you have an edge then the more bets the better, 52 bets per week will probably yield a 52 times greater return than 52 bets per year. The concept of 1 large bet per week is a flawed one borne of desperation I suspect. what are your stratagies You don't ask for much do you! and what is the commision that betfair take on the large punters ,or is it the same as small I'm not a large punter, but I'm expanding. Current turn over is around 20k per week and I aim to make around 8-10% net profit. Commission on gross profit that I pay is around 40% at the 3.5% rate, and I've never paid PC. |
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How have you never paid PC Trevh?
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He says he has paid roughly 40 % of his gross profit in commission, so I guess that's why.
He will be right on the borderline of paying PC2 though if and when he reaches 250 k profit and also if he keep winning at the same rate. |
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so ok as im a small punter i pay commision with every win so if i were a big punter you must pay more commision?
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how do you find what % of your gross profit has been paid in commission. do you just do your own figures or is the info on here somewhere. hope i dont sound dumb!!!
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mikenz, it is all to do with your gross profit to commission generated ratio rather that the scale of your play or the actual amount you win. Although to qualify for pc2 your lifetime profit must exceed £250k.
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I agree with TrevH above..
the idea of just 1 bet a day is just utter ridiculous! |
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Trev what markets do you play? are you a trader or general punter?
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why is it ridiculous? im sure people are making money both ways. people who have an edge will obviously bet as much as possible
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im presuming that there are pros who bet loads of bets a week and pros who bet once or twice a week
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If you could only find one bet per day with value then that would be the way to go but it would be a while before you could prove you were making a profit.
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cfcrules, copy and paste this into an allready logged in Betfair window : https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html
It will only show you the numbers if you are paying or close to paying PC though. |
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https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html |
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i didnt mean as such about one only bet ,when you play around with just a few dollars you tend to be here a long time, what i was meaning was by just having a strategic big bet or two could make good coin without spending ya life stuck on these bloody computer, you can spend as much time here you like.
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mind you thats subject to winning of course lol but i find here when betting on goals get more pluses than minuses
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just having a strategic big bet or two could make good coin without spending ya life stuck on these bloody computer,
You are doomed go find yourself a career. |
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why is that? lets say 1 big bet a week if somebody had bet on man utd last 3 weeks they be doing alright, england this week. its just the lack of consistency then is it? as in no system, utd lose some week ur fecked? have to pick winners all the time
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The problem with having very few bets is that you require your percentage edge on those bets to be improbably large, given that the Betfair markets are fairly efficient. Unless you have inside information, it's virtually impossible to find that kind of value.
I place thousands of bets / week, and some of my (non-churning) bots are programmed to take anything more than 0.2% from perceived fair value. Because I match so much, and because lots of these bets are on both sides of the market, an edge as small as this is sufficient to make money. |
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Fewer bets is like snakes and ladders,tried it for a month and didn't move forward.
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its the opposite for me. maybe im having a lucky patch. maybe it will continue or im due a fall. but used to do lots of bets , cut down and its going ok. but hey everybodys different.
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what do you bet on Contrarian? you're one the big players on here. have you ever posted a bet?
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Few bets can work but you need a very high profit to stake and that needs to be proved over 2 years minimum. Secondly, high profit to stake means horses only as that the only area I believe [I might be wrong] where you can have more than say 12% profit to stake. Now having that profit to stake on horses on here is next to impossible given the poor liquidity early so you need lots of bookie accounts and they'll get closed on large winning bets ...........so you should get it, its not so easy as picking out a few good ones now and then.
Also your risk is greatly reduced the more you bet assuming you have a winning advantage. I would probably have 900 - 1000 bets a year [7 months] which by many would be considered a low amount but at that level high profits to stake have been maintained. |
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Win Small but Win Often is a better strategy, outrageous luck and the unforseen can bury you if you operate on a small number of bets.
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paulme,
I can't really post 'a bet' because I'm placing so many of them. I bet on all high level football matches. Mostly in-play, and mostly automated betting. |
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so the question still is who is a fulltime punter, who actually makes their income from it..................have been reading all comments, interesting.
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and of course the other question is whats a good amount of capital to start off.
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I'm full time but would be considered a dinosaur as I bet horses and EP's on them - high margin profit, turnover limited by what you can get on early so ultimately profit is capped - I'm thinking 100k a year is achievable using this method but my best is just half that.
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As my bets are in the 0.5% to 3% of bankroll range - the starting capital is high - 20k+ is a bare minimum for the punting I do.
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Quite simply, the more time you put into something, the more you get out of it.
I think there is a point where you could minimise the time spent on here, but you could really go either way and it is up to the individual on how they want to pursue something. You may have something that you can bet on every race of every day, but my thinking is the more bets you find, the lower your profit margin, which is ok, because the more you turnover the more you make. eg You may be able to find 200 bets per week averaging a 1% profit margin. The higher you tweak that profit margin, the less qualifying bets you will find. Maybe you want to only bet on things you feel you are getting 200% of true odds. You certainly can't do that on every race, and I would suggest opportunities will be limited. You will certainly be reducing variance so lesser bet frequency will be ok because your losing streaks will be minimal. But in saying that, to find that value, you still have to put the time in. I mean how exactly do you plan on finding such good value to reduce your bet frequency if you aren't scanning the markets constantly trying to find that value? If you are on here anyway with a positive expectation strategy, then you may as well be betting on it. Basically, you can't just pick one horse out for the week to concentrate on because it isn't only important the horse that you think has the best chance of winning, but the market value has to represent the value in which to get. So while your "best bet" of the month may well be right, but at the end of the day, if you are taking unders for the horses real chance of winning, then you will still ultimately lose out financially. So basically to find the best value runners, you need lots of options on what you are betting on. Your best bet for example, may be a no bet at 1.50, but at 3.00 is a huge bet for you. To get that 3.00 about such a horse, you need to be actively searching for the best value. Point being, to really minimise the time spent on here, you either need to automate your strategy placing lots of bets not searching for the best value, or you need to automate price finding, having an idea of what odds you are chasing for a particular runner, and you would also have to automate rating a horses chances. If you aren't automated, you are spending your time rating the runners, spending time chasing the best price that meets your expectations. Either way, you are spending time. The only other option, is to have inside information, and have a good contact, meaning others are doing the groundwork for you. Quite simply, you need to put the time in to get the rewards. If you aren't prepared to do that, then you have stuff all chance of living off the punt. I make no claims about myself here, these are simply my thoughts on likely scenarios of the professional punter. |
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Quite simply, the more time you put into something, the more you get out of it.
-------- not always the case, ime. sometimes you have to step away a bit. |
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I'm full time but would be considered a dinosaur as I bet horses and EP's on them
EP's? |
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An EP (short for extended play) is a musical recording which contains more music than a single, but is too short to qualify as a full album or LP.
 Or Early Prices maybe. God, paulme, if you spent your time studying or researching things instead of asking question after question on here, you may be a little more successful. |
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He's not the brightest, is he?
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Why does he remind me of Peggy from Hi De Hi?
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I'm not sure he'd have the intellect to be a cleaning lady Cat!
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ah i see you've turned into a **** again lord bobbin. didnt last long did it.
how the hell would i know what EP meant? ask anyone on the street and i bet 10 out of 10 wouldnt get it right. does that make them dumber than a cleaning lady. infact ask your wives and girlfriends and mothers. then declare them all thicker than a cleaning lady. bunch of thick cvnts |
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oh that shuld read tw@t by the way bobbin. which is what you are.
HTH |
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brisey - cheers pal
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You've ruined it paulme, Peggy wouldn't be rude like that.
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