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Pro Gambling

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  • #4235
    belly2002
    Member
    • Total Posts 61

    i dont think theres a such thing as beating the system i havent found one for years am still looking for one where i could make say about £500 a week but the pros have the money to do it do any of u guys make gambling as ur job

    #100896
    STE601
    Member
    • Total Posts 23

    Don’t try and beat the system but play the system rewards are not 10 fold but 50/50.

    #100899
    belly2002
    Member
    • Total Posts 61

    yeah but has he got the money behind him am just starting off with a bank off £1000 unless i find a system wot pays up wot does he do ur mate

    #100900
    belly2002
    Member
    • Total Posts 61

    ive got time to do it cause i am start work early and finish at dinner time i just want to know if it can be done cause i think i like to give it ago start from the bottom and work my way up

    #100903
    tooting
    Member
    • Total Posts 379

    belly2002

    There’s a few highly successfull pros on this forum.

    I’m strictly a semi-pro wannabee, but I have to say I have a bank of £25000 built up over 6 years, and this year I’ll turn over £100000 to make between £10000 and £20000 with a good wind.

    In other words be happy to make £500 on your bank over a year, with all the sweat and tears.

    There’s no quick way. (Though I’m open to suggestions…)  

    #100904
    belly2002
    Member
    • Total Posts 61

    hi tooting how did u start off with a low bank <br>is it easy or not i always fancied to do sumthing like that

    #100907
    RichK
    Participant
    • Total Posts 201

    My ten pence worth; worth about halfpence:

    Start with a large bank (not accrured through betting in the first place).

    Have an understanding partner who won’t walk out if you have a bad run (ouch). Cut back on your lifestyle, if you have one at the moment, so that a bad run won’t cause mortage difficulties, kids without Christmas presents etc.

    Have a level headed staking plan; don’t chase your losses

    Forget a "system"; the only system is your own judgement, and looking for value. Certainly forget your £25 win on favourites system.

    Learn how to use exchanges wisely and sensibly (optional this one, I guess). Practice with a few £1 bets and lays if you haven’t tried before.

    Don’t bet on every race! Most races you just can’t win – specialise in your own area of expertise.

    Learn from the pros. Read Alan Potts and whatever else you can find.<br>

    #100908
    larry layer
    Member
    • Total Posts 84

    i make my living "gambling"… but not punting like some of the guys on here, im just an exchange parasite.  i would advise you to open your mind to the many ways in which exchanges allow you to hedge and trade.  i try to find one sporting event a day where i think i can profit and its not often i lose, i dont think ive lost on more then 3 event in a row and even then the loses have been very small.  keep an open mind..

    #100909
    snowman
    Participant
    • Total Posts 554

    Hi Larry i’ve seen you post similar replies to similar questions before. A question for you if you don’t mind answering that is.<br>If you have taken a position on an event that ‘A’ will happen – lets say the FTSE will rise. If it does indeed rise do you ALWAYS hedge to make sure you get a profit? Or do you sometimes think ‘this is going the right way i’ll leave it’ and risk losing but having potential of bigger return.

    I only ask because i’ve sometimes bet on cricket, hedged and ended up with small profit, but if I had left it to my gut instincts the initial bet would have provided much better returns.

    Just interested how a pro’ does it. :cool:

    #100912
    tooting
    Member
    • Total Posts 379

    belly,

    I started with a bank of £2000, and my usual stake was just half per cent of my bank (ie a tenner to start with).  

    It’s gone on from there.  

    Personally, I’m a ‘value’ punter – but I’ve learnt a lot from books – Alan Potts, Nick Mordin, Mark Coton and Andrew Beyer.  I’d suggest you start there.

    A reality check though belly.  I think I remember Alan Potts suggesting you should have a £50K bank, and your expenses covered for two years, before you turned pro.

    You’d also need to know you could turn a profit!!

    As larry says, the exchanges do offer new ways of looking at the game and that could speed the process up I guess.  Or speed up losing your bank!  

    #100913
    Racing Daily
    Participant
    • Total Posts 1364

    The first thing to do is watch the exchanges.  Watch the markets, look for unusual betting patterns.  Clocking Off yesterday as a prime example.  I knew i’d lost before the race had run.  How?  Because of the exchanges.  And sure enough the horse was sweating up before the race.  If 5.0 is taken, 4.5 is taken then someone jumps in to lay you 5.8.  That’s taken and then someone lays 6.2.  Take that and 6.5 becomes available – come on now!  How stupid do you think I am?  I cut my losses on that one, but won 4.5pts (£226) on the day so I am happy.  But you do need to bet to a sensible staking plan.  That’s the first thing you need.

    And don’t put all your eggs in one basket, in case the basket breaks (sorry about the cheesy analogy).

    #100914
    belly2002
    Member
    • Total Posts 61

    wots the best book and who is it by cheers guys

    #100915
    larry layer
    Member
    • Total Posts 84

    snowman,  the answer as some of the best financial traders will tell you is to let your profits run and cut your losses short.. yet so many people seem to do exactly the opposite.  when they see a profit they lock it in instantly, but if they are losing they let it run in the hope that something amazing occurs and it comes round.

    i think you should set yourself a target you are happy with when you are letting profits run…  figure out at what point you want to lock your profit in.. often this will be the point when something big occurs in the event which can swing the momentum of the game.  if you can hedge at a good time (takes practice) you can get back on it again at an even better price which will increase your margin further ;)    work on your instincts, practice trading markets – because you do get better with practice.  you’ll find a slightly different technique for each event too… also you will be able to read the intentions of the people on the screen and use that to your advantage.  

    its a huge revolution exchange betting… i doubt many have discovered the real beauty of in running trading on there yet… when they do its going to be amazing.  theres a cricket match on now with well over £1m matched on it.

    belly, i recommend you try to look up some financial trading books, just as a different perspective on gambling.  also there is this fantastic book called "zen poker", you can get it off amazon – it is fantastic !  even though its on poker, the rules it gives out are the exact ones many successful traders and gamblers use, its a must read IMO.  

    (Edited by larry layer at 3:36 pm on Sep. 22, 2002)

    #100916
    belly2002
    Member
    • Total Posts 61

    cheers guys u lot have been helpful ill be telling u lot in 20 years time am a millionare:biggrin:

    #100919
    jw
    Member
    • Total Posts 17

    many pro’s specialise in a particular type of race,what type of race should be avoided and which area is best to concentrate on,i know its a matter of choice,any advice willl be appreciated.

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