General Betting
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Hi, I was in the fortunate position of being in receipt of £20k this time last year, I didn't really need anything pressing so stuffed it all into a higher interest building society account. Well I knew the rates were not good but still thought it a good place to put it but when I got the interest of a few hundred quid this year I thought this is daft, surely I can do better than that and although I have been a member of betfair for about 10 yrs now, without much long term luck, I thought if I put half my windfall into betfair with an expectation of just getting a bit more than the b/s account, then it shouldn't be that hard to do? Surely if I wanted to make just 10% on my bank over the next year it can't be that difficult, can it? After all I'm only looking to make £2.70 per day out of 10 grand. So if I were to lay a middle teens horse once a day for £2.70 with continued betting throughout the day &/or the next day on a loss or two I would soon get it back,right? Or am I so delusional to think that might work instead of losing the whole £10k during a spiteful recovery period!??? help and answers very much appreciated!!
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What happens if you have a really bad day and they keep winning? Could you handle that? It IS possible... believe me I have seen it
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Thanks Layer, you're right I have been there myself a few times but can such small expectations turn into such huge losses?? easy come easy go I s'pose!!
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Since you say you haven't had much long term luck my guess would be that you are much more likely to lose 10% than win 10%.
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Mr.A I'm sure you're right but am I more likely to lose £10k than make 10%. My real question is should I try!!
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Yes and no. I you were my friend (not saying I dislike you or anything) I would say no.
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If*
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"Investment!"
Seriously Guscher - do yourself a favour and re-read the threads on here - including the ones you've contributed to. |
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Cheers Stevie, but I live in hope!!
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The benefit of laying can be psychological in that you experience less losing runs - however when you lose you lose hard.
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As stu said....you will "win" more often but if you lose it will be heavier. I would never say don't do it, because you may be good/lucky enough to make it work. All i will say is think of the what if u take a few beats situation and u lose half your bank or even a quarter how will you react? Will you be happy making it back slowly? This is the ultimate test, and I am talking from experience.....
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If you've been on BF for 10 years without long term luck (as you put it), I'd keep the money in the bank. There's money to be made from laying and people do. I doubt that any of them depend on luck.
This is not a criticism just sound advice. |
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Thanks Mandarin, I appreciate all advice and I'm sure you're right, it's just that I have always been a bit greedy! So thought if I lowered my expectations to less than 1%/month it might just be worth a go!
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Mandarin I will have you know I am in profit over my Betfair career.... You still need luck my friend no matter what you think.
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Mandarin I will have you know I am in profit over my Betfair career.... You still need luck my friend no matter what you think.
each to their own view layer, can only go on my own experiences - good luck! |
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Interested to hear layers views on here - I've heard opinions on the racing forum that solely laying is one of the hardest ways to profit on BF, but I guess you guys buck that trend if you're successful?
Out of interest, how many times have you been hit hard, and what would you say are the biggest challenges - discipline? I'd suspect chasing a big loss is hard to hold back. |
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if you are not sure to deposit the 10k, it is because you dont know what you will do with it. there is only one outcome sooner or later. you will lose it. Just do something you like in life with the money than losing it here.
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Can I ask - do the layers on here (presuming successful) mainly target single position-like lay or multiple (ie closer to making a book)?
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King of Dubai
Robust BRM guards against the losses stu. Yep, though that takes a fair amount of discipline at times, I know. |
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I personally try and make a book...
In terms of how to deal with big losses, I think it would be silly not to listen to people who have been there done it. I certainly wish I had that option when I was going through. Whether I would have listened is another matter :) |
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What's wrong with putting 2 grand in and give yourself a year to see how you get on. No targets just seek what you perceive to be value and work away. If you lose it's something you are comfortable with, it you are up happy days, and if you break even at least it was a hobby that kept you entertained for a year with minimum cost
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Layer - amazing how many times you can here 'keep the discipline' from others, think you've got it....then blow all over again!
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*hear
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I personally try and make a book...
I have never done it strictly, but some analysis and planning I did a couple of years back was into targeting specific horses only, as it seemed more logical. i.e. find a specific weakness/reason for why a horse was not getting the win. Just seemed a simpler (perhaps more motivated) strategy? |
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If I had £10k I could easily make money from it ... I would just buy up all the outright lays on the snooker events, buy money on ffotball markets. I would not take any risks at all, it would all be 100% winning investments. Horse, oooft, I would stay clear of them mate
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How do you describe being able to 'buy money on football markets' Schalke?
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why do people this its easier to make money with bigger banks?
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Whats the point of making 2.70 pd,it's neither here nor there, and with 10k potentially at risk from the unpredicables of racing.
It's pure madness on the time eliment alone. Forget the whole idea is my advice and be thankful youve got 20k. Remember 'Cash is King' |
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Get that he mentioned 10% would be equivalent of 2.70 per day - so in essence no reason you would even need 10k to aim for that sort of profit of course.
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You could aim for that realistically with a bank of £500
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That's a slightly more risky (kelly-wise) staking plan than I was thinking Schalke
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care to elaborate why it is schalke?
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10% of 10k - I will turn for you in one month - but only using 1k bank ...
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Hi and thanks for all your comments, I would be more than happy to share any profits over £2.70/day using my £10k please just tell me how and when to bet!!
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Don't forget £2.70/day from a £10k investment is way,way beyond anything you could expect from a bank/building society or even stocks and shares would be difficult! and if you compound 0.3%/month for a few years well, you do the maths! but remember consistency is the key!
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Sorry of course that should have read 0.833%/month!
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