At least that's what it feels like. I've not had a bet for around a week, so it would be pointless providing a screen-shot of any profit or loss. I withdrew a lot of it a week ago to pay for a few bills. I have now however got £200 in my account. No where near enough of a safety net for me, but I have little choice at the moment. My money-management has been poor overall and that's why I am in this position right now, although the last month has been full of errors with regards to taking more risks and not trading-out of bets when I should have.
In the week I found out I am over +£20k up on Betfair since I started in 2007, so that's not bad. If you look at the screenshot above and deduct the 'Commission Generated' from the 'Gross PL' you’ll get the final figure. A lot of that was due to last year where I made quite a bit. Prior to that I was a 'prolific loser' on Betfair playing with a small bank and pretty much relying on hope as opposed to anything calculated.
£200 is more than enough. If you have an edge, and without one you will ultimately lose, you can turn that into six figures in time. Just be patient and bet only when you have value. Also your betting bank should be money you can afford to lose - not money that you may need to pay 'a few bills'.
ReplyDeleteI was going to say the exact same thing as Cassini, he is spot on. Don't go chasing now and although it will be hard you have to use tiny stakes to build it up.
ReplyDeleteThis should hopefully prove to you that you don't need £500 to start like you were so adamant that you did.
Hi there, I just added your blog to my bloglist (http://www.betfairtradingpro.com) Hope you can do the same!
ReplyDeleteCheers,
Tore
Done Tore....
ReplyDeleteIf you're doing it for fun then turning 200 into big figures can be done with a bit of luck and some time, but using 200 whilst doing it full-time is not realistic. I need to be using a bigger bank, especially as I will be relying on this to pay. I did last year because I had the bank size to get it done.
ReplyDeleteLooking back though, it's my fault....why did I spend it all like it was going out of fashion??!! Silly me! Done now though.
Also I found that pro-betting or any thing out of betting for fun i.e. betting with a target in mind was consuming quite a lot of my time.
ReplyDeleteWere you betting full-time? Or doing it along side your normal schedule?