September 21, 2002 at 21:07 #4235
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 Ãƒâ€šÃ‚Â£500 a week but the pros have the money to do it do any of u guys make gambling as ur jobSeptember 21, 2002 at 21:41 #100896STE601Member
- Total Posts 23
Don’t try and beat the system but play the system rewards are not 10 fold but 50/50.September 21, 2002 at 22:44 #100899
yeah but has he got the money behind him am just starting off with a bank off Ãƒâ€šÃ‚Â£1000 unless i find a system wot pays up wot does he do ur mateSeptember 21, 2002 at 22:46 #100900
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 upSeptember 21, 2002 at 22:51 #100903tootingMember
- Total Posts 379
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 Ãƒâ€šÃ‚Â£25000 built up over 6 years, and this year I’ll turn over Ãƒâ€šÃ‚Â£100000 to make between Ãƒâ€šÃ‚Â£10000 and Ãƒâ€šÃ‚Â£20000 with a good wind.
In other words be happy to make Ãƒâ€šÃ‚Â£500 on your bank over a year, with all the sweat and tears.
There’s no quick way. (Though I’m open to suggestions…)September 21, 2002 at 23:00 #100904
hi tooting how did u start off with a low bank <br>is it easy or not i always fancied to do sumthing like thatSeptember 21, 2002 at 23:22 #100907RichKParticipant
- 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 Ãƒâ€šÃ‚Â£25 win on favourites system.
Learn how to use exchanges wisely and sensibly (optional this one, I guess). Practice with a few Ãƒâ€šÃ‚Â£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>September 22, 2002 at 08:40 #100908larry layerMember
- 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..September 22, 2002 at 10:22 #100909snowmanParticipant
- 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:September 22, 2002 at 10:44 #100912tootingMember
- Total Posts 379
I started with a bank of Ãƒâ€šÃ‚Â£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 Ãƒâ€šÃ‚Â£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!September 22, 2002 at 11:49 #100913Racing DailyParticipant
- 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 (Ãƒâ€šÃ‚Â£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).September 22, 2002 at 12:57 #100914
wots the best book and who is it by cheers guysSeptember 22, 2002 at 14:33 #100915larry layerMember
- Total Posts 84
snowman, Ãƒâ€šÃ‚Â 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. Ãƒâ€šÃ‚Â 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… Ãƒâ€šÃ‚Â 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. Ãƒâ€šÃ‚Â 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 ;) Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â work on your instincts, practice trading markets – because you do get better with practice. Ãƒâ€šÃ‚Â 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. Ãƒâ€šÃ‚Â
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. Ãƒâ€šÃ‚Â theres a cricket match on now with well over Ãƒâ€šÃ‚Â£1m matched on it.
belly, i recommend you try to look up some financial trading books, just as a different perspective on gambling. Ãƒâ€šÃ‚Â also there is this fantastic book called "zen poker", you can get it off amazon – it is fantastic ! Ãƒâ€šÃ‚Â 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. Ãƒâ€šÃ‚Â
(Edited by larry layer at 3:36 pm on Sep. 22, 2002)September 22, 2002 at 15:11 #100916
cheers guys u lot have been helpful ill be telling u lot in 20 years time am a millionare:biggrin:September 23, 2002 at 10:45 #100919jwMember
- 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.
- You must be logged in to reply to this topic.