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Time to give up after 15 years of betting?

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Replies: 103
By:
know all
When: 18 May 21 11:46
Been betting 40 years still yearly profits but takes a lot of time and always wondered if my skill could be applied to other investments i gave up raceform interactive after 15 years couple of months ago was a superform man before that as i now only do saturdays big meetings because its near impossible doing all the meetings unless your really in to it full time, im on irishracing.com lots of stuff on there that horse racing forum told me was good and it is, spending lots of less time on the horses and i found crypto joined forums on reddit and studied using the same skills as the horses research spent months and im finding it very exiting and the same ups and downs of winning and losing but a lot more profitable than horses.
Bought bitcoin and sold at a great profit but realized if you buy now at 32k to double it has to go to 64k, so bought others buying and selling not all at a profit but most profit.
i found a coin at 1p-2p went to 3p sold then struggled to get back in but did at 3p then realized this is the one gone all in and went to 6p after recent crash now 4p but every increase of 3p i double my money and you could stake it at around 4% interest
its gambling its risky but last week when hit the high of 6p like winning on the horses as it goes ever higher standing me a large profit thousands not hundreds but with the crash now 4p should i have sold thoughts but confident will hit 20-30p by end of year and end up in a few years at a £1 imo so its a big price winning coin im after
use the reddit forums everyday and do research on you tube and the like, i like gemini.com its fca on there website in the uk but crypto not regulated, and you can pay using a debit card or transfer its a easy push button to buy or sell and you can research on there, you can buy £10 worth of bitcoin, its a very profitable hobby and crypto will disrupt the banking system imo hold on to your hat
By:
politicspunter
When: 19 May 21 07:44
Premium Bonds are worth a look. The dividend on them has been cut quite dramatically recently but they are safe, you can cash them in quickly and all winnings are tax free.
By:
ericster
When: 19 May 21 12:23
And you [could] just hit the big one.
Why not?
By:
politicspunter
When: 20 May 21 07:57
As a guide, I have had premium bonds since 2004. My holding has averaged roughly £20K. In that time, the biggest win I have had was £500. I have also had many £100 wins and I have lost count of the number of £50 and £25 wins. Currently, you have a 1 in 34,500 chance of winning per month ie if your holding was £34,500 you will win on average one prize per month. You just never know if a chunky win is on the way.
By:
Shanelee1966
When: 20 May 21 08:20
Gambling is a basterd but our busterd
By:
tinkyvinky
When: 16 Jun 21 19:00
Lifetime summaryApplies across 28,915 Exchange markets
Gross profit & loss

£226,653.98

Commission

Other charges

Premium Charges

Total charges (21.02%)

Maximum possible premium charge

£41,631.36

+

£0    
+

£6,001.71

=

£47,633.07

It is possible to make money but it is not worth the time anymore for last 3-5 years.
By:
PeteTheBloke
When: 29 Jul 21 20:07
That depends if you enjoy it, tinky.

I'd play if I was making a few quid. I'd stop if I was losing.

If I broke even? Not sure...I'd probably see it as a reason to invest a bit more effort.
By:
Dr Crippen
When: 31 Jul 21 21:18
What does it matter if you lose as long as you bet to minimumn stakes?

If you show a profit over the long term then increase your stakes.

The golden rule is never bet more than what you have won.

For if you can't win to small stakes, then what makes you think you can win to larger stakes when you'll be under pressure.

It's all to do with temperament.
By:
the tardis
When: 04 Aug 21 05:42
A bit of plain speaking at the end - hope you're not offended.
You've tried every angle but can't find an edge eh. I'm in Australia, been pro since 2003, and know quite a few that make good money via betting. The winners I know fall into two categories. (1) Horse Racing winners - they do hours and hours of form, speed maps etc but at the core are just good judges. They have their losing runs, but never chase. They only look at the yearly result - not monthly and certainly not daily. They frame 90% markets based on all their work and observations and bet accordingly within that 90% framework.
(2) Sports Winners. They specialise and keep huge statistical databases and generally specialise on one sport. Never emotional and support no team or player. 'Emotion guaranteed to turn you into a long term loser' one told me years ago. Only bet when the stats/odds tell them to.
There's many other types of winners obviously, especially the maths/algorhythm geniuses and automated players, but I'm old school and these are the people I know.
That's the sort of bettor you're often competing against. Very hard to beat.
Give it away mate. There's no dishonour. Most try but fail in the end.
By:
macarony
When: 16 Aug 21 11:19
@op with the benefit of hindsight you would have been better off taking a part time job on a Saturday night either delivering pizza or working in a bar that way you would be making 3 or 4 grand a year instead of losing it. From what you describe living in London in a one bed flat on less than 40 grand a year can't be good for your mental health do you have a good reason for staying in London?
By:
Tancred
When: 17 Aug 21 16:37
You would have done better to have invested the money into your pension fund. Gambling should always be done only with money that you can not only afford to lose, but EASILY afford to lose! I have probably wasted as much money as you, but in my case not gambling but buying stuff that I liked but did not need and could not sell easily when I got tired of it. That's life. I'm 54 and have been interested in betting since 1990 but never found that 'holy grail' - I don't believe there is one. The only people who make money (except the bookmakers) are the cheats with inside information - there is no system that works, not one. You can probably scrape a quid a day in profits by backing Man City and Man Utd to win every time at ridiculously poor odds but it's not worth the risk. This is the real problem in gambling - the odds. Anything worth backing has absolutely sh*t odds so you end up making very risky bets in order to get a decent return, but then you usually lose. This is why bookmakers make money. They suck hope from gamblers, like leeches suck blood.
By:
G Hall
When: 17 Aug 21 18:42
If one decides to back over 1.5 goals at say three's on (hypothetical obviously, then one loser in every four bets equal break even territory. The problem usually arises when the inevitable losing bet/s occur, and chasing mode kicks in.

A lot of punters can do the homt have some well researched bets, and yet will chase on almost anything when things go pear shaped. It is such a psychological test.

As VDW said numerous times,in the 70's and 80's, it's all about

TEMPERAMENT and ODDS

By God he wasn't wrong.
By:
G Hall
When: 17 Aug 21 18:44
*do the homework*
By:
politicspunter
When: 18 Aug 21 12:28
You are throwing your money away.
By:
CLYDEBANK29
When: 06 Sep 21 11:28
"Premium Bonds are worth a look. The dividend on them has been cut quite dramatically recently but they are safe, you can cash them in quickly and all winnings are tax free"

I bought £30k's worth a week ago.  Will likely top up to the max at the end of this month.  Buy them at the end of the month if you do as the monthly draw is at the beginning of the month and it takes a month for them to be in the draw.  Return is 1% but most cash savings get zero interest atm.

If you've got the money and your circumstances permit.  I'd look at airbnb as an investment.
By:
G1_Jockey_4
When: 06 Sep 21 17:59
20% interest on staked Kava right now..pad twice a week plus those rewards go up or down with the price...as crypto is on the up...bingo
DOT is 12%.

Anyone not in crypto right now needs to take the time to research and understand it  because when it becomes mainstream you will have missed the opportunity of a lifetime.

Bartering was replaced by paper/coins...paper/coins is going to replaced by the digital blockchain....think about it.
By:
politicspunter
When: 06 Sep 21 18:29
What goes up, must come down (minus commission).
By:
G1_Jockey_4
When: 06 Sep 21 20:51
Not sure you understand crypto other than what you have heard cynics say.
It is natural for some people to not like change.
Embrace this one as its the new monetary system plus more. Innovation in finances. A new hedge against inflation.
If banks dont conform , they are toast.
If people dont get on now , dont complain you missed the boat to make some money.
By:
politicspunter
When: 06 Sep 21 21:17
I understand that markets don't go up every day.
By:
G1_Jockey_4
When: 07 Sep 21 08:05
i think you need to stick to your premium bonds mate.
where the value goes down because of inflation.
By:
CLYDEBANK29
When: 07 Sep 21 10:29
"20% interest on staked Kava right now..pad twice a week plus those rewards go up or down with the price...as crypto is on the up...bingo
DOT is 12%.
"

Otherwise known as a Ponzi scheme
By:
politicspunter
When: 07 Sep 21 11:26
Anyone that believes that gambling on the value of crypto currencies is a "hedge against inflation" is seriously deluded.
By:
politicspunter
When: 07 Sep 21 22:48
"20% interest on staked Kava right now..pad twice a week plus those rewards go up or down with the price...as crypto is on the up...bingo
DOT is 12%.
"

https://coinmarketcap.com/currencies/kava/
.
By:
CLYDEBANK29
When: 08 Sep 21 14:02
That's only a 25% fall in 3 days since G1 tipped it up.
By:
politicspunter
When: 08 Sep 21 14:41
Wonder if he has considered Premium Bonds?
By:
G1_Jockey_4
When: 08 Sep 21 16:29
I got in on kava at 3$ and 3.5$

on the last dip i sold all and bought up , luckily , not far off when it bottomed out.
only one thats done badly is ada as i bought on it last rise.

yesterday only managed to top up 2 as they didnt drop enough.
By:
G1_Jockey_4
When: 08 Sep 21 16:35
they will all rise soon as yesterday was people who leveraged the rise and got liquidated.

i personally would like another 10-20% shaved off so i can get the rest of my bank on at decent prices.
By:
politicspunter
When: 08 Sep 21 17:13
So you lost approx 25% of your holding on Kava yesterday?
By:
G1_Jockey_4
When: 09 Sep 21 11:45
no im still holding the same amount.
the value dropped the other day by around 25%...it is now recovering as are many other alts.

this is normal.
you gotta take advantage of dips to get in.
By:
G1_Jockey_4
When: 09 Sep 21 11:46
current price as we speak is 6.53$....that is around 100% profit for me plus the kava interest.
By:
CLYDEBANK29
When: 09 Sep 21 12:32
Irrespective of your aftertiming posts you are standing on a Betfair post crypto loss as things stand
By:
G1_Jockey_4
When: 09 Sep 21 14:41
lol...i posted up what i was holding at that point.
no mention of what price i bought at.
someone presumed i was making a loss...i corrected him.

go check the graphs during the may drop...those prices were freely available.

how are your "inflation busting" premium bonds doing ?
By:
G1_Jockey_4
When: 09 Sep 21 14:45
i and many took time to research crypto...yes it is volatile.
Not as volatile as betting ...i know from experience with the peaks n troughs of winning and losing runs.

I gave up a few years ago because of business and even though im ready to jump back in , i think its best to wait for a few years because crypto replacing the current money system is a once in a lifetime event where people can make money from.

why tie up funds in betting when they can gain from crypto?
makes zero sense.
why tie fund up in shares when the short term outlook due to brexit kicking in looks dodgy as....same goes for property...
By:
CLYDEBANK29
When: 09 Sep 21 15:08
All that matters on here (if you are giving advice) is the price at the time posted.  That should be obvious.  If someone in the RP is tipping Fulham to win the league, the price in August is irrelevant.  It would be quite embarrassing for them to follow up by saying well I backed them in August at 3 times the price.  Picking and choosing past unproven punting successes, makes you seem desperate rather than smart.  I've prolly done that that myself before tbf, as have many people, but most recognise it for what it is.
By:
politicspunter
When: 09 Sep 21 15:30

Sep 6, 2021 -- 11:59AM, G1_Jockey_4 wrote:


20% interest on staked Kava right now..pad twice a week plus those rewards go up or down with the price...as crypto is on the up...bingoDOT is 12%.Anyone not in crypto right now needs to take the time to research and understand it

By:
politicspunter
When: 09 Sep 21 15:31
G1_Jockey_4 • September 6, 2021 5:59 PM BST
20% interest on staked Kava right now..pad twice a week plus those rewards go up or down with the price...as crypto is on the up...bingo
DOT is 12%.


Anyone not in crypto right now needs to take the time to research and understand it  because when it becomes mainstream you will have missed the opportunity of a lifetime.

Bartering was replaced by paper/coins...paper/coins is going to replaced by the digital blockchain....think about it.

Kava price when posted was $8.03.
By:
politicspunter
When: 09 Sep 21 15:41
The price Jockey bought his Kava shares at is irrelevant.
By:
CLYDEBANK29
When: 09 Sep 21 15:44
Putting most of your eggs in the crypto basket and if it does very well there will be tax to pay.  You won't get a tax rebate if the crypto bubble bursts as you won't have profits to offset the loss against.
By:
Gin
When: 10 Sep 21 14:13
After reading this thread, I thought I would do a forum search for the earliest mention of Bitcoin.

I found the following thread posted in July 2010!!!!!ShockedShockedShockedShockedShocked

https://community.betfair.com/chit_chat/go/thread/view/94038/25453257/bitcoin?post_id=536541623#536541623*

At the time the Bitcoin price was $0.08 - it is now in the region of $46,000 giving a return of approx 57,500,000%

A £1000 investment would now be worth half a billion poundsCool (I know it would be impossible to hold the investment for that long but it's just a bit of fun)

I hope Psychic Muttley is relaxing on his own Carribean island!LaughLaugh
By:
CLYDEBANK29
When: 10 Sep 21 21:08
there must be some buyers who lost their Bitcoin IDs
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