Saturday, 14 May 2011

Life-time Betfair Profit & Loss?

Does anyone know how to get their life-time profit and loss? I posted it about 3/4 months ago, but can't remember how to get it again. I'm not sure if you have to request it from Betfair or not.

Thanks,

John.

Update: Does it say I am 15k up since I started using the site? It's not the clearest thing to read. Thanks again.

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16 comments:

  1. Cassini14 May 2011 at 20:18

    Use the Premium Charge portal https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html

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  2. John O'Dwyer14 May 2011 at 20:21

    Thanks...

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  3. John O'Dwyer14 May 2011 at 20:25

    Is it 'commission generated' under 'life-time' profile that tells you the final figure? I'm trying to establish something. It's not the easiest thing to read. I'll post it above. Cheers.

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  4. Cassini14 May 2011 at 22:55

    Commission generated = (Commission + Implied Commission) ÷ 2 where Implied Commission = market losses x 3% - in other words, it is the commission you have paid plus some that you haven't so the exact profit is hard to figure out. For me, after I deduct the Premium Charges and Other Charges, the commission I paid is about 68% of the total shown, so if your account is similar your net profit is approximately £24,465.

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  5. John O'Dwyer14 May 2011 at 23:50

    I've never paid premium charge. Last year I was probably close, but I've had too many losses in recent months for that to be an issue. I thought this shows a definitive profit and loss? Is 24,465 accurate? I guessed it was around 15k. That was only a guess though. I did win around 27k from feb-sept last year, but I've had a bad 4/5 months where I've hardly reached any significant numbers and this is what has made things difficult.

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  6. John O'Dwyer14 May 2011 at 23:53

    I'd say I've lost about 10k of the of the 27k I've won since ...around September time. It's all coincided with my bank size depleting.

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  7. John O'Dwyer15 May 2011 at 00:07

    I'll probably do another update tomorrow, but I'm getting tired and fed up. It's been another struggling week. I'm using a small bank, and I'm trying to rush things and it's continuously going wrong. One of these days I might get to 1k again, and it will progress from there. I was saying this exact same thing in Jan 2010, before doing exactly what I expected to do once I got the bank size I kept going on about. Until then, I am beat. I owe so much that getting a normal job will not get me out of the trouble I am in. I've known the answer to the problem for months, but have not been able to resolve it due to a few reasons.

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  8. Cassini15 May 2011 at 11:38

    John - your mind needs to be clear to be successful as a trader. "Scared money don't win".Bank size isn't an issue. Like I said to you before, if you have an edge, you can start at any level and soon build a bank. I started with less than £100 and have never made a second deposit. What qualifications do you have? My advice is to get a 'normal' job and trade any edge you can develop part-time. But you need to find an edge rather than use your current approach which you may have got lucky with for a while, but luck has a habit of running out.

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  9. John O'Dwyer15 May 2011 at 15:49

    I do have a edge, but it all revolves around having a bigger bank size. That's why I've been losing recently. Big bank brings stability, which I've always said.

    I've not had 2k in my account since January, so there has been no way for me to back up what I say.

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  10. Cassini15 May 2011 at 19:42

    No one is doubting your honesty, but do you understand that no one who makes a profit from betting long-term does so without having an edge? You can take or leave any advice you are given, that is your choice, and while there are certainly people who offer advice who probably shouldn't, there are also people who are profitable long-term, and are in a position to offer sound advice based on their experience.

    The reason you lose is quite simply because you do not have an edge. You can, and did, get away with this for a while but you can't defy the odds long-term. It is not unusual to walk away from a table in Las Vegas with a decent profit on a single night, but if you went there every night, you would lose. The odds are against you. You can back 1.05 shots all day and have long winning runs, but if the true price is 1.06 (or more) you will ultimately lose.

    In the first 9 days of May, you bet on baseball, basketball, boxing, cricket, horse-racing, golf, snooker, soccer, tennis, aussie rules, rugby league and rugby union. Are you seriously claiming that you have an edge in all those events? That someone in Barnstaple, North Devon, has identified an edge that has been missed by everybody else?

    There's nothing wrong per se with betting on any of these events, but in my opinion you need to specialise.

    And if you notice that someone is beating the clock in snooker as you mentioned a few days ago, walk away. Any bets you get matched are unlikely to be value, and it is insane to stay in a market where someone has an edge over you. Nothing will stop court-siders faster than no money in the market.

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  11. Anonymous15 May 2011 at 23:51

    It's a bit harder to get the exact amount you're up since they took away the actual charges figures off the PC page but basically you subtract the total charges from the gross profit so yours would be £34K less £15K giving you a net pnl of £19K. It's likly to be maybe a grand or so lower due to the fact they use generated commission instead of actual commission.

    So just under £1 a market on average. I can understand why you keep going on about having a bigger bank as it does allow you room for error and breathing space for any losing bets/runs but it isn't an edge. You can operate with a lower bank it just means you'll have to build up slowly. At the moment you've no option as you've had a grand or so a while back and blew it trying to build too quickly.

    And yes a normal job will get you out of the hole you're in, you're not the first person to have debts. You have no assets so there's fa anyone can do , if you're really worried about them go the CAB , the head in the sand and hoping for a lucky win won't sort things out.

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  12. John O'Dwyer16 May 2011 at 10:17

    I know what I am doing, but appreciate the advice nonetheless. Thanks.

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  13. Anonymous16 May 2011 at 11:25

    Thing is, from where we're all standing you don't know what you're doing. You had the bank you said you needed months ago but that's now all gone and you're no further forward.

    People are giving advice based on them having been in similar situations , there's no shame in taking some of it once in a while.

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  14. John O'Dwyer16 May 2011 at 11:55

    There were reasons for that. I've stated them before and don't need to again. Thanks.

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  15. James Managan18 May 2011 at 14:37

    That link doesnt work, is there any others for lifetime P&L.

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  16. Anonymous12 March 2012 at 15:29

    Up.
    Link does work. You need to be logged to betfair when using it.
    Problem is how to read data. It isn't clear really.

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