General Betting
There is currently 1 person viewing this thread.
I'm pretty sucesfull and month by month I can make good profit here.
But, I wanna know some experience from people who are here full time, betfair professionals.
1. How your life is?
2. Minus and plus of that kind of life (I don't think about money)
3. Is harder to bet when You know that betfair is only way to make a money?
Thanks in advance...
But, I wanna know some experience from people who are here full time, betfair professionals.
1. How your life is?
2. Minus and plus of that kind of life (I don't think about money)
3. Is harder to bet when You know that betfair is only way to make a money?
Thanks in advance...
sort by:
Show
per page
Replies: 318
|
By:
Hi bobo, life's great, thanks
 Love working from home but the lack of workmates won't suit some people. I also find it very rare that I can really talk to people about what I do, as most don't seem to understand it. I enjoy watching loads of sport, although I'm usually focusing on the prices. Conversely, I can't watch a match for fun now, as my brain won't stop pricing different eventualities. The only thing that's harder since I gave up the day job is dealing with losing runs. As my only source of income, it's just more srtessful than before as there's nothing to fall back on. I can hardly complain though as overall, I'm earning twice what I did. It's just not as a regular monthly cheque. As a whole betting is easier, as I'm better at it than I used to be and I can focus all day on something now, as I haven't got another job to distract me, just a housefull of screaming crazy children  ) |
|
By:
Thank You 1.01 Layer, helpfull post...
I am thinking for long time to quit job. I am pretty sucesfull here, I will have more time for my self, not bosses who make me angry... I am thinking my life should be much easier and happier... But I'm still affraid, because no 'undo' if I quit job |
|
By:
And yes 1.01 Layer, I also hate talk with people about betfair because They don't understand nothing and they look at me with face "You are crazy"
|
|
By:
If you're making a living on here, you will reach the Premium Charge threshold sooner or later, after which Betfair will take up to 60% off you in winning weeks, with no rebate or refund if you then loose. So you really need to win twice what you need on here, if you plan to do it long term.
That said, the PC doesn't affect all winners, just the most efficient ones. If you're in doubt how this will affect you, then call Betfair but be warned: it's so complicated that most of the helpdesk staff only have a basic understanding of how it works anyway. As for quitting the day job, Betfair is such a perfect part time activity, with much sport in the evenings and at weekends. So if your job keeps normal office hours, you can do this part time until you're totally confident of making it on here and have built up a good size bank. The looks on other people's faces changes a bit when they realise you make a living sitting at home watching sport all day  |
|
By:
I reach Premium Charge and make me very angry because I don't understand why They take money from succesfull people. Big problem is - I'm tired from regular job and betfair 'job'. I can't exist with my regular job and I'm affraid of life from full time betting.
|
|
By:
Only you will know if you can do this full time. It certainly helped me to stop thining of it as "betting" and start thinking of it as "trading" and adopting a totally professional approach to my activity on here and elsewhere.
I understand that Betfair are considering altering the structure of PC to reduce the impact on smaller full time players but nothing is definite as far as I know. Good luck with whatever you choose, bobo. |
|
By:
Thank You very much 1.01 Layer... You help me a lot
|
|
By:
Been FT since June 2003 after 28 year retail career - best decision ever made with wife's full support and agreement.
Could NEVER work for anyone else now - not that they'd have me after a decade of apparent nothingness. Not greatly missed working comradeship - probably just a little.. liked the go-karting events, and xmas does etc... but MORE than exceeded by the benefit of freedom to work days, weeks, months and holiday when and where I like. Still see old colleagues time to time and pass the time of day with staff in the area. I work 340 days per year, and about to away to 5* Costa Sol for a week in March (first of a few weeks away this year). My banks financial advisor furious I won't take up his offer of 0.4% net interest per annum and double my money in 175 years lol.. still.. he drives an old Astra! IF you can make it - and so very few do - it's the bestest occupation on the planet! Betting bank +0.32% so far today.. probably carry on with a couple of horse-races but don't need to and the rest of the day 'mine'. My goal: millionaire at 65 in 5 years and ten months and give half away to daughters. Best wishes bobviere! Ifor. |
|
By:
I agree with 1.01s comments they pretty much echo what I would have said. I've done both gave up job to go full time on her for 3 years and then went back to work part time and doing this as well. Just to reiterate that there is a bit more stress being solely reliant on it for an income and from my point of view the irregularity of the income (even though in total it added to much more than my full time job) was something my wife found hard to cope with. We tended to spend the money when it was there with the attitude there will always be more and then find there were times when we had nothing. Good management and keeping money aside to give yourself a steady monthly amount is wise I think. Also as most sport is on at weekends and evenings when things aren't going well you tend to spend half your life on bf and the most antisocial times so managing your time also important (look at the hours you put in and what you get out) For these reason I went back to a part time job combined with this for me I think is the best balance in terms of the children seeing me going out to work and having some kind of regular income but the drawback as 1.01 says is you get distracted and miss stuff especially if you trade on cricket. having said that if you can get it to work, working from home flexibly and spending more think with your loved ones and watching sport all day is a luxury not many have and I love it. I liken this more to trading on the stock exchange than gambling its just assessing risk on sport but trying to get other people to understand that is as you both say impossible. They think you gamble.
|
|
By:
I'm totally open with everyone locally about what I do - but as you already know you get the glazed eyes look 'didn't think that was possible' 'is it legal', 'why doesn't everyone' etc.
I've even offered to show a few 'how to' by sitting with me for a few hours - but it seems they all prefer to wrok for 40 hours a week and pay taxes. I think the new Jaguar on the drive pissed more than a few off. |
|
By:
Ivor makes a good point about Mrs Ivor. I couldn't do this without the full support of my wife.
I also find that it helps to be honest with people too... except lenders. |
|
By:
Guys, first of all, Thank You for your experience...
My big plus here is I make money usually till 4-5 pm and I have all evening for myself, my friends, wife and kid. I give up of talking people that I am not a gambler and tired od guestions like "what will hapened when luck is turn around"? I enjoy when I'm on betfair, It's not job for me, It's pleasure. |
|
By:
My wife told me 1000 times "Quit job!"
|
|
By:
Haha - wish I had a £1 for every time I've said ''I'm NOT a gambler and nothing like one!''
|
|
By:
news flash - Ivor just layed a 20/1 winner, however profit on day now stands at +0.340125114552159662147%
|
|
By:
+0.356 actually.. backed Dreams of Milan
|
|
By:
******* IP 1 x 4 x 5 x 9 x £43,626.09 £43,624.60
******* IP 2 x 5 x 6 x 5 x £10,000.00 £10,000.00 ******* IP 3 x 4 x 0 x 5 x £11,620.03 £14,714.57 thats just three of my current accounts for cynic Delta's benefit |
|
By:
When I started betting here, at the time i didn't have a job but some spare money aside, now I have come to the level that Betfair is my only and primary full time job providing me some very good income and I like it. Never come to me to go back on regular jobs because all around I see so many unhappy i miserable people doing so, but still they afraid to try this, never know why people go with line of least resistance and be miserable, i think they are afraid to risk and don't have courage, but still they don't know that as you can fall here that as the same you can get fired from the job. As i was trying to convince some people about this and to join, for them i was a gambler and as one said here their answer is 'what when luck turn around', so pesimistic views. Mainly, this i see as all other job, conecting it with like trading stocks, the same principle, have so many free time, my freedom to do what i want and when i want, to travel, be carefree. And I have give up to talking people about this and trying to help them, just making money and living my life :)
|
|
By:
Vidocq, your post can't help me to keep my job...
Thank You very much |
|
By:
ivorpleaseshowme'howto'
|
|
By:
I understand that Betfair are considering altering the structure of PC to reduce the impact on smaller full time players but nothing is definite as far as I know.
i await this with no great expectation as every change they've made in the last five years seems to have been designed to screw us. i'm becoming ever smaller time while approaching the 250K cliff and looking to increase my income elsewhere. |
|
By:
Anyone approaching the higher rate PC needs to open a bet quack account and back and lay between the 2 sites - you will end up paying 3% commission to bet quack on winning bets on there but believe me that is a small price to pay when faced with 40/50 or even 60% off takes from Betfair.
|
|
By:
As my only source of income, it's just more stressful than before as there's nothing to fall back on. I can hardly complain though as overall, I'm earning twice what I did. It's just not as a regular monthly cheque.
___________ yeah,this is the problem i have and it's hard to convince folk you're doing the right thing ! some folk think working as a gambler for no pay for weeks on end in brainless - however like yourself ,in the big scheme of things i'm much better off at the end of the year each year . I guess its about long term stability,some like the regular pay and security ..if i fail i'll just sell the house and sleep under a bridge ,i'm not proud |
|
By:
1.01 layer ,if you're a relative newcomer then the higher pc won't be a problem for years on end for modest achievers ,and i don't think the exchange will be around in the present format by then anyway .
obviously if you're caught up in the higher charge from 2001/2/3 then i guess you have had 10-12 good years where you have avoided it anyway |
|
By:
assuming BF don't lower the bar of course
|
|
By:
|
|
By:
This is true. From a very young age the vast majority are conditioned to work for others and conform to what is expected of you. Later in life you feel, for the sake of the family you need to support, that you should just plod along and 'this is your lot' and it's too late for you now because you have others to think of. It's all a load of bolox but the powers that be need you to be conditioned this way
 |
|
By:
vidocq very good points , although i have it harder than most because no bugger would employ me anyway
|
|
By:
1. How your life is?
I've made money on here consistently since 2002. I had a year working part time in 2006 and finally went full time on here in June 2007. Life is very good. I choose to work when I want, I have more money than I could ever have imagined, and I am around for my kids all day, every day. I actually enjoy trading, although it can be all consuming. I tend to be either working or on holiday. I don't cope very well with being at home and not having anything to trade. 2. Minus and plus of that kind of life (I don't think about money) The plus points are obvious; total flexibility, almost unlimited income if you're good enough, and intellectually challenging and exciting work. The minuses are less tangible. Not having contact with many other people on a day to day basis is fairly unhealthy long term. The intensity of the adrenaline rush almost every day can be wearing. The stress of losing is sometimes a problem. 3. Is harder to bet when You know that betfair is only way to make a money? I'm at a point where I just make the bets automatically because I know I'm right on average. I didn't go full time until I was financially secure anyway so the pressure was off. |
|
By:
Bayes,
"I didn't go full time until I was financially secure anyway so the pressure was off." It's very usefull, thanks... |
|
By:
hi Bayes, how long do you spend per week on average gambling and trading?
|
|
By:
Excellent points raised by Bayes. I agree totally especially with long term effects, you really NEED to create a balance if you are doing this long term, for health purposes.
On a different note: 'Bet Quack' - As someone mentioned earlier. I have been keeping an eye on the other exchange site and liquidity is slowly growing. As a 'layer' and not specifically always trading, this suits me just fine. Seriously considering putting some of my funds over there. |
|
By:
10 year test.
Do you think you will you earn enough betting in the next 10 years to cover what you would expect to earn if employed up until retirement? The answer to this should be yes. If no remain employed. |
|
By:
my biggest concern would be betting exchanges still existing in ten years time?
|
|
By:
Unless you are betting on horse racing 80-90% of your betting will be during the evenings and weekends.
|
|
By:
I'd add my tuppenceworth, if you want a mortgage (or to move) do it now before jacking in any jobs. Mortgage with job > easier than Mortgage with betfair P/L statement.
Secondly, thing about FT on here is that's eggs in your only basket? What if some government changest the tax system to go against what you/we do or betfair change their model to not apply to the way you make a profit and nothing else replaces it? I'm not sure I'd want to go FT here if I had other options even if I was consistantly well in profit. Especially as the world economy might be crap for years, jacking a job now would be a bad idea imho. Perhaps go PART time, and keep your iron warm on whatever day job you have. |
|
By:
Had my third go at serious full time due to work Visa issues after emmigrating from UK. Neither of the previous efforts were successful, although both times i made money it was far less than when I was working.
Lasted 9 months, finally making a decent wage but had two major issues. First, I suffered serious home sickness and although I had all the time in the world, I stayed home trying to work instead of getting out and doing all the amazing things you think the flexible working pattern offers. Sice going back to work in August, having workmates has cured the homesickness. The second is being a slave to sport times. I mainly bet on UK football and being 13 hours off most of the year it means i was working overnight, wrecking my wifes weekend due to my sleep pattern. Its already been mentioned that the social aspect of working at home and the support of family are issues that need to be solved. Oh and the bank wouldnt give us a morgage ( a decent one) as I wasnt working. Crazy thing is that I'm always thinking about the next time I can stop working |
|
By:
Have been on Betfair from the beginning and been paying premium charge since the beginning.
Most of the key points have been raised already on this thread , my advice , if you are trading would be that this might not be a great time to go full time , the game is getting harder, there will be less easy money arriving due to the website changes . less people will be losing their money on the exchange. When i was made redundant in 2003 i went full time for several years , however the isolation and missing that "friday afternoo" feeling had me very bored. so decided to look for a job that would fit in around betfair , and became a postie (now some of you know who i am ). Between 2005 - 2011 was very active , not a huge winner, but enough to buy a house and pay off a morgage within five years , all my winnings just banked as the postie job paid all the bills etc. Since 2011 have bbeen on betfair less and less , now trade larger amounts on fewer cherry picked events. I can no longer be bothered spending seven or eight hours trading just to make 50-100 pounds , day after day. Lackmoof betfair motivation due to having mortgage paid , few 100k in the bank and approaching 50 , feel i have earnt a rest. In the early years was putting in 80 hour weeks , for year after year, sacrificed social life etc , luckily the other half has always been very understanding , once she saw the money coming in she was fine with i Its now that i appreciate the benefit of remaining part time , zero pressure , wife happier that im not spending the day inside with curtains drawn etc . This week just traded two rugby games and a one day cricket match , made about 500 pounds , but wouldnt of been bothered if i had made nothing In this climate i would think very carefully before piling pressure on yourself by giving up a job , especially with all the current uncertainty surrounding the exchange. Better to look for another job with more betfair friendly hours , then you can do both , if you are good enough you should be able to live very comfortably , by living off your wage and banking the betfair profits. good luck |
|
By:
Very interesting thread...more please...
|