How difficult is it to win £20 a day?

How large is your edge, and how large is your betting bank?

This is what I mean, I don't even know what an edge is.

Doubt I've got much chance tbh if I don't even know that!

Depends how you want to do it. I'd suggest scalping - there are plenty of opportunities on the right markets to take simply £1. Work out where the opportunities are and you can find plenty of them a day. It's a modest target but doable. The biggest challenge, however, isn't winning £20 a day, but how to overcome the losses to maintain an average of £20.

It's hard to believe that you have been on here for more than seven years, yet claim not to know what an edge is!

Without one, you can't be profitable in the long-term.

Making a small amount a day is a lot more difficult than it seems.  What would most people think was easier £20 a day or £600 a month?  Being consistent usually means being boring.

yes,agreed crisp and as gamblers some of us aren't content with just making a round figure however big and shutting shop  , how many would make £20 after the first event and leave it at that ? not me  - i wouldn't be happy until i had re-staked it all in the hope of making extra (but very often nothing at all)

maybe greed ? or maybe looking for that winning buzz

for you to win 20 someone else has to lose 21.

And it's very easy to lose £21!

Is it? how would you lose it?

commission by placing high volume bets is the easiest known way 

Got to stop thinking £20 a day.

Its often easier to earn £100 on Saturday than it is £10 on a Friday.

Very easy. A few things help though: A big bank helps- for obvious reasons plus it buffers the losers. What ever your betting preference, backing, laying or trading, you need discipline and selective bet choices. I think as well, you have to look at the big picture, some days you will make much more than 20 quid and other days you will lose what you initially set out to make but if your weekly/monthly profits surpass your losses then you are being selective/disciplined and achieving your goal.

For me, greed and discipline are my setbacks. I can be focused and nicely in profit when suddenly out of nowhere, greed steps in! It sets me back a few steps and I have to re-gain the patience and discipline I started with. So, don't forget to work on your own personal negative points (is you got any that is).

how to make a small fortune from Betfair





















start with a large one.

Prob true for majority Lex.

However, seriously speaking small profits every day are a lot easier than going looking for big kills as an approach - I'd say it is the way to realistically make it work here (or in betting generally).

I'm working on a very similar approach myself - more playing with bets in a paper trading kind of way currently, until I unleash the real stakes later this year. (Then it goes tits up of course when you increase stakes...)

It took me about a year and half of messing around to reach £20 per day. Then another year to reach £100+. I started with the 2006 world cup.

there's a good bit in confessions of a stock operator about people trying to get just enough out of a market on demand.

it's not the right way to go about it.

worry first and foremost about losing well and losing little, and then wait for the market to come to you, rather than expecting it to be ready when you need it to be.

reminiscences of a stock operator, not confessions, which sounds like a robin askwith film.

Reminiscences of a stock operator is a very good book!!!

If you don't know what an edge is and have no idea of the psychology involved or money management .......

your chance of making £600 a month on average is 0% - sorry

To win £600 - you would have to risk 12k  ( an average of £400 per day ) and hope for a 5% profit , which is not easy  .

Sorry but true

Thanks

Why would he have to risk 12k?????

gamblers dont win on here.. must people here are on a buzz , bored etc. Its all about maths, discipline and a bit of luck. Without these you are either going to break even or lose. I would suggest though that you avoid betting when theres too many games on and plan what you are going to do. If you go at it willy nilly like most people including me then you end up chasing ( not all the time but most of the time )

I agree with the maths and discipline but over a long period luck has nothing really to do with it.  Ok you fluke a huge win as a one off but if you have an edge and proper money management luck will play no part really!!!

For this one discipline and judgement.

I'd say to anyone try one bet a day evens or above if you get at least 4 winners you are on to a profit. See how you get on if it works go for it and stick with it.

Back in my teens/20's i have spent all saturday in the betting shop backing race after race till the cash ran out or occasionally won! dogs in the morning then horses and football. Not these days, no more than 7 bets in a week. I don't think profit, it's all about the winners, if you are winning the profit will follow. If you are looking for profit, it's easier to lose.

The thing is everybody's starting point is different, cash wise and time wise.

From your initial question i assume you are working so i would suggest pick the sport you are most interested in and go from there.

good luck.

Specialise, one bet per day at most. Discipline, then more discipline.

One bet per day is wrong advice , there could be three decent bets ( value ) in one day and none for a week.  They don't just arrive in daily intervals

High turnover low margin low risk.....boring but a profit can be made.