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Location: stones throw from aintree racecourse,well maybe with a catapult
Posted: Tue Mar 24, 2009 5:40 pm Post subject:
Wouldnt mind it myself ,going pro that is ,but play the safe option.its not the time to take chances ,in the present climate.
I have been on betfair for about two years now and must admit i am getting a lot better,but you only learn through your mistakes ,but losing money will actually help.i have a sign next to the computer it says .laying an outsider think twice remember cousin vinny and a picture of him winning at the festival last year.
I listened to the trainer saying he fancied others more in his yard,so laid him for a score ,it swiped £177 out my account ,but boy did it teach me a lesson _________________ I AM HAPPY TO JOIN WITH YOU TODAY IN WHAT WILL GO DOWN IN HISTORY AS THE GREATEST DEMONSTRATION FOR FREEDOM IN THE HISTORY OF OUR NATION(THE I HAVE A DREAM SPEECH,1963, MARTIN LUTHER KING)
yaiyam
may i ask in your experience of punting on the nags has a semi-pro/pro
how often do you find the right punting opportunitys???
i guess theres over 1,000 races (both codes) to punt on in a year so i would guess it would be a pretty high % to make some candy
that make any sense??? probably not cheers archie.
What is the persons out goings per month i.e mortgage, food etc etc
How much would they like to average per month
Lets say:
Outgoings = £800 per month
Would like to earn £1200 per month
Is that you'd like 1200 / month, or 2K / month in order to pay your outgoings and have the 1200 over?
1200pm w/ 400 left over. And then gradually building up that 1200 figure. Can easily live on 1200 initially
My opinion is that if you want to earn 1200 / month, which equates to 300 / week (averaging 4 weeks / month), so 60 quid / day - you'd need no more than 1500 or 2K. Biggest issue would be discipline.
Earning 60 / day is EASY IMO. Means earning 65 / day on Betfair, assuming max 5% commission. Every day there are numerous horses, clearly not going to win, so for this requirement, lying is by far the simplest way to achieve your goal.
yaiyam
may i ask in your experience of punting on the nags has a semi-pro/pro
how often do you find the right punting opportunitys???
i guess theres over 1,000 races (both codes) to punt on in a year so i would guess it would be a pretty high % to make some candy
that make any sense??? probably not cheers archie.
Bar the NH festivals 90% of my horse racing bets over the last year to 18 months have been on Irish Handicap Hurdle races with 16+ runners and if you look at March there have only been approx 10 so it cuts down a lot of work _________________ Forest are Treemendous
My opinion is that if you want to earn 1200 / month, which equates to 300 / week (averaging 4 weeks / month), so 60 quid / day - you'd need no more than 1500 or 2K. Biggest issue would be discipline.
Earning 60 / day is EASY IMO. Means earning 65 / day on Betfair, assuming max 5% commission. Every day there are numerous horses, clearly not going to win, so for this requirement, lying is by far the simplest way to achieve your goal.
i would attempt not to risk more than 2% of your bank on any trade.
i would also avoid setting daily targets - what's the point? just creates unnecessary pressure to find action where there isn't any - or let's you be lazy on a day when you've made a few quid but there are opportunities everywhere.
i'm no sports gambling pro, but my financial trading account does ok and i'm planning on taking it a lot more seriously over the next few years - and these are rules i don't plan on breaking where i can avoid it.
i might be wrong, but laying no hopers (presumably at decent odds) to win a fixed amount each day using a relatively modest bank sounds like an inevitable blow up recipe to me.
if you can make £1200 per month using £1500, that is an implied monthly return of 80% after commission.
if you can achieve those figures for a year, liquidity allowing, your compound profit would be £1,733,747.
unfortunately it think it is DIFFICULT
to profit £15k per year in steady growth (not hitting an acca or blowing up at any stage, just solid growth with sensible expected losing streaks etc) i would be impressed by anyone who had less than £30k available to bet.
that's not to say of course you couldn't start with much less and build it up.
A rough model that I had in mind with some slightly more realistic figures I think. £1000 a month is probably my minimum outgoings:
£5k bank to start
Ave. profit target per month: £1200 (£40 per day based on 30 day month)
Standard/average bet: 2% of bank (£100)
Average 4 bets per day: £400 per day turnover
Aim for 10% profit on turnover = £40 per day profit = £1200 per month profit
Standing order of £1000 every month from betting bank to current a/c for living expenses = £200 left over each month = £2400 profit left over after all expenses in years 1 and 2 =
By end of year 2, betting bank at approx £10k - therefore increase standard/average bet to £200 (still 2% of bank) and keep on building.
Sounds pretty simple Main concern is whether or not 10% profit on turnover is realistic? And whether it is possible/sensible/realisitc to 'aim' for 4 bets a day/£400 turnover per day? To be honest I am not sure so any advice/opinions/stats would be welcome please.
Thanks, Owl
PS: It's unlikely I'll do much/any laying, at least not initially
With racing it is easy to focus on certain types of racing thus cutting the amount of information you actually have to know.
I watch All weather racing if it is on the TV in front of me however I rarely bet on it((usually tips from stables, (trainers & gamblers only)) and never really look at the form of it, flat turf racing i never go below half decent handicaps and NH i don't bother with novice chases, bumpers, hunters etc etc.
If you do this type of thing it cuts out a whole lot of pointless form studying _________________ Forest are Treemendous
I reckon you'd have to be very focused and watch racing every day.
I'd be more inclined to focus on the big meets - Aintree coming up!
Very true Lochsong,
Gambling on horses to win money is a full time profession. The amount of horses they go under the radar because we are destracted by other areas of life is unreal.
I often say to a group of betting buddies, its a full time game.
Owl,
When are thinking of doing this?
I think your approach is well thought out and do reckon you could make a profit from racing, you will need to build in real discipline and like YY says only bet on certain types of races from the outset.
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cheers archie.