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Advice needed from those with proper experience in gambling.
- Thread starter HseagullsH
- Start date
New Carpet?
New member
- Aug 23, 2009
- 797
See out your course, that's a must.
But then after that, have you thought about actually going into work for a Trading department of a bookmaker?
That way, you could then earn a decent salary and if your trading stances come good, win your company money (and potentially earn a bonus). You could also back your own fancies with other firms on the side.
Most of the big boys are based in Gibraltar these days, but I know people who have worked out there and have loved it. Just an idea, like.
But then after that, have you thought about actually going into work for a Trading department of a bookmaker?
That way, you could then earn a decent salary and if your trading stances come good, win your company money (and potentially earn a bonus). You could also back your own fancies with other firms on the side.
Most of the big boys are based in Gibraltar these days, but I know people who have worked out there and have loved it. Just an idea, like.
No offence, but 'professional loser' may have been nearer the mark in his case!
As the old joke says: How do you make a small fortune gambling? Start with a large one.
- Jul 15, 2009
- 9,820
It's possible but just breaking even some weeks can be extremely difficult. Betting for a living can be more stressful than a normal job.
HseagullsH, you need to go for longer priced things to bet on and whatever you do GET top price because after many (painful) years of betting, you can tell when the bookies have made a rick in compiling their odds. Focus on 8/1 to 12/1 selections. Evaluate their real chances rather than the favourites or shorter priced ones because bookies have spent more time studying them.
Good luck mate.
HseagullsH, you need to go for longer priced things to bet on and whatever you do GET top price because after many (painful) years of betting, you can tell when the bookies have made a rick in compiling their odds. Focus on 8/1 to 12/1 selections. Evaluate their real chances rather than the favourites or shorter priced ones because bookies have spent more time studying them.
Good luck mate.
I'm not telling the whole story. Was just being short and sharp to warn this little boy off what is a loser's game.
southern_sid
Banned
- Aug 5, 2011
- 986
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
In the 70's tax was 8%, it is zero now therefore 'easier'
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
It's a trial period
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
'Short & sharp' more like misleading, he didn't make his living I.e. Professional...he was a losing gambler, simple
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
He is, keep up
kingcole
Well-known member
I played poker professionally for 4 years between 2004 and 2008. For me it worked. I was not that great at poker, but the others were very bad. I had a great life. I was paying my mortgage off fast, having 4 or 5 good holidays a year and myself, wife and kids went without nothing. I stopped as quite simply, the standard of my opponents improved.
Before I played poker I used to love to gamble, be it the horses, football, casino or even bingo, I would do it.
What playing professionally taught me was that it's only ever worth playing if you have an edge. The edge I am referring to is have you managed to beat the odds?
At poker this was fairly easy to determine. I might work out that my hand has a 1 in 3 chance of winning, but if I get paid off I am going to win 5 times my bet. Simply really, and any mug can see that this would be a good bet.
However, where this works in poker is that I am playing against other players and not the house. The other players make mistakes or don't calculate their odds (most don't even bother to calculate at all)
It's the same as a bookies. Take Ladbrokes for example. They might offer you 3-1 on a horse, but the chances of that horse actually winning are 4-1. If you bet at 3-1 you might get lucky, but if you have enough of these bets, you will lose. Where as in poker, as long as you have the right odds (and enough of a margin to overcome the house rake) you will win.
It is for this reason alone that Ladbrokes make a profit and most of Ladbrokes punters lose!
I get the feeling that you have already made up your mind that you are going to give it a go, and that you are looking for someone to agree with you here!
If you have found a way of beating the bookies, then good luck to you. Even on betfair, it's never a true market (notice the 99% or 100% at the top of each market, sometimes 90% or 100%!) and even after overcoming the warped market, you still have to pay a commission on your winnings so all this needs to be calculated.
Finally, I don't need to tell you that if you go for it, you will have bad days, bad weeks, and even bad months. Even if you have found a way of beating the bookies (getting 4-1 on a horse that has a genuine 3-1 shot at winning) you might still lose and lose and lose.
For this reason (as you will have no other income) you will need to make sure that on top of your bankroll (your betting money) you also have enough money to live for 6 months.
If you are single with no kids, this might not be a fortune, but when I began poker professionally, I did not give up my day job until I had £25k squirelled away. It was actually 4 years after I started when I realised I was dipping into this that I no longer had the game beat.
I would say good luck, but luck is not what is needed. Those who rely on luck with lose.
Play well!
Before I played poker I used to love to gamble, be it the horses, football, casino or even bingo, I would do it.
What playing professionally taught me was that it's only ever worth playing if you have an edge. The edge I am referring to is have you managed to beat the odds?
At poker this was fairly easy to determine. I might work out that my hand has a 1 in 3 chance of winning, but if I get paid off I am going to win 5 times my bet. Simply really, and any mug can see that this would be a good bet.
However, where this works in poker is that I am playing against other players and not the house. The other players make mistakes or don't calculate their odds (most don't even bother to calculate at all)
It's the same as a bookies. Take Ladbrokes for example. They might offer you 3-1 on a horse, but the chances of that horse actually winning are 4-1. If you bet at 3-1 you might get lucky, but if you have enough of these bets, you will lose. Where as in poker, as long as you have the right odds (and enough of a margin to overcome the house rake) you will win.
It is for this reason alone that Ladbrokes make a profit and most of Ladbrokes punters lose!
I get the feeling that you have already made up your mind that you are going to give it a go, and that you are looking for someone to agree with you here!
If you have found a way of beating the bookies, then good luck to you. Even on betfair, it's never a true market (notice the 99% or 100% at the top of each market, sometimes 90% or 100%!) and even after overcoming the warped market, you still have to pay a commission on your winnings so all this needs to be calculated.
Finally, I don't need to tell you that if you go for it, you will have bad days, bad weeks, and even bad months. Even if you have found a way of beating the bookies (getting 4-1 on a horse that has a genuine 3-1 shot at winning) you might still lose and lose and lose.
For this reason (as you will have no other income) you will need to make sure that on top of your bankroll (your betting money) you also have enough money to live for 6 months.
If you are single with no kids, this might not be a fortune, but when I began poker professionally, I did not give up my day job until I had £25k squirelled away. It was actually 4 years after I started when I realised I was dipping into this that I no longer had the game beat.
I would say good luck, but luck is not what is needed. Those who rely on luck with lose.
Play well!
He did not go out to work. He spent all day, every day, playing bridge for money with his aristocratic and genteel friends in the gambling houses off Hove seafront. Often, he won, but, as is usual in these cases, overall, he lost. All gamblers lose in the end. And that is my point.
Pat McCrotch
Lurker
100% agreed. Draw down as much as possible from your student loan, put the whole lot on the 4 dog in the 17.04 at Monmore. You are clearly a natural in this game so simply cannot lose.
I think a certain Mr Bloom might disagree with you there.
kingcole
Well-known member
Not true at all I'm afraid! For every gambler who loses, another gambler wins.
Lush
Mods' Pet
If you were offered a job where you were told that some months you would get paid, some months you would get nothing at all, and some months you would actually owe the company money, would you take it?
Gambling is designed to look that way but gambling is also designed to part you with your money in a false belief that you will win it back.
Mr Bloom was a Poker player which involves an element of skill and a straight face.
Before that he made money betting on football.