Living of betfair?

[Tippus83]

Is it really possible to make a living of betfair? If so HOW??? Are there anyone on this forum who actully make enough money so they wouldnt need to woork. If so I dont expekt you to tell me how you do it. But can you give me some tips?? I have made profit 2months in a row now but my patience is so bad. Any tips?

[jkantor]

I wouldnt say you live just off betfair, but there are a number of betting sites and online casinos you can profit from including betfair

[lunatism]

Originally Posted by Tippus83

Is it really possible to make a living of betfair? If so HOW??? Are there anyone on this forum who actully make enough money so they wouldnt need to woork. If so I dont expekt you to tell me how you do it. But can you give me some tips?? I have made profit 2months in a row now but my patience is so bad. Any tips?

to PL!

This question has been pretty much answered before...just take a look here:
Betting for living and having a bank?

[lunatism]

unfortunately Tippus83, it does require a bit of patience - otherwise you'll no doubt blow it all on 1.05 5 minutes to go on the home side winning and suddenly the away side grabs an equaliser! discipline is a must with this - if you have no discipline..you better be damn lucky, otherwise your profit won't last too long

jkantor is right - doesn't just need to be on betfair. And it really depends what you're after as to if you'd be using betfair/bwin/b365/pinnacle, etc

if you went into a bit of detail about what type of bets you were looking at I might be able to offer a bit more help

[methuselah]

Tippus.I would advise you to lay my bets to make a good profit.

[SecondSight]

Simple answer is yes.

You can operate as a bookmaker on betfair, If you lay/bet £20,000 at anyone time and are clever with your lays/bets, you should clear approximately £300 to £500 per week after commission depending on your luck over a whole football season.

The most I have bet/laid is much less at any one time, so I can't make a living and still prefer the security of paid employment.

By betting high figures your commission comes down and your profit increases.

Warning Geoff Harvey betting writer thinks only 15% of punters win long term on Betfair, much less with Bookies who close you down if you win long term.

[Tippus83]

Originally Posted by lunatism

unfortunately Tippus83, it does require a bit of patience - otherwise you'll no doubt blow it all on 1.05 5 minutes to go on the home side winning and suddenly the away side grabs an equaliser! discipline is a must with this - if you have no discipline..you better be damn lucky, otherwise your profit won't last too long

jkantor is right - doesn't just need to be on betfair. And it really depends what you're after as to if you'd be using betfair/bwin/b365/pinnacle, etc

if you went into a bit of detail about what type of bets you were looking at I might be able to offer a bit more help

Sounds Good Lunatism

You see the reason i ask is because i got a system that have generetad profit for 2.5months now and i think i'm on to something. Have only used small stakes. It's a laying system where my longest loosing streak is 2 and wining streak is 11. Right now i got a strike rate of 81.45% and an average odds of 3.9. I only got 124 selections. Is that enough??

But my question is what laying strategy fits my system best??? So far i've used level staking. But i've been investegating on betting style called lay1-4 or another one called Lay hipro86SP4. They are both modest loss recovery systems But not so intens as martingale where you doble your stake for each bet.
Anyway anoyone who got any suggestion for me what i should use? I guess level staking is the safest and and most profitabel in the long run???

Regards Tippus83

[lunatism]

Originally Posted by Tippus83

i got a strike rate of 81.45% and an average odds of 3.9. I only got 124 selections. Is that enough??

Such a strike rate with average odds of only 3.90 is really good in my opinion - however, with a sample size of only 124 over 2.5 months, could it be at all possible that you are experiencing a mid season trend? (obviously only applies to football - buti'm sure you see what i'm trying to say).

If there is the slightest chance that you are benefiting from something that might be considered temporary, eg...the wet/windy weather we've been having in the last 2.5 months Then I would recommend to build up a sample size of closer to 500 before you could say it was enough.

But with average odds of 3.90, there wouldn't be too much to worry about in terms of wiping out your bank, unless you were using an agreessive staking plan, which i take it you are not?

In terms of your laying strategy - that might depend on a number of things, frequency of selections, number of selections, confidence in system - all need to be taken into account if you were hoping to make yourself something specific to your system. Have not heard of lay1-4 or Lay hipro86SP4, so you'd have to explain these to me and the rest of the folks on here so we could see how potentially successful they could be.

Have you tried backtesting your selections with the different staking plans?

Originally Posted by Tippus83

I guess level staking is the safest and and most profitabel in the long run???

sorry, have to disagree with you there, and perhaps this is one reason why you should build up a larger sample size - because eventually you might find that certain games follow certain patterns, and blindly laying all at one price limits the potential of whatever system you are using. Have you tried out the maria staking plan?

[Wumpking]

Check out the famous Maria laying thread on Expert Betting Advice for a successful example of making a living from a laying strategy on exchange sites such as Betfair. Also has some good advice regarding staking for laying systems.

[Tippus83]

Thanks for the coments

Yes i've seen on maria staking. I've typed inn all my data in a program called "the staking machine" ( http://www.thestakingmachine.com/ ) If you click the link you can also read about alot of laying systems including lay1-4 and lay hi pro 64(if you look at the menu on the right side on the internet page)
They also got backing and each way systems.

The problem i felt with maria staking is that you need alot of matches each day. to generate the same profit rate as the other staking plans. But that is maybee because i've just tested it with a small bank. And it is here my dicipline problem comes in

Lunatism you agree that i would probably need 500matches to see a trend. I agree. The staking plan i have used so far is level staking and increase my stake when my bank grow with 50%

But i feel confident of my system i never lay above 4.5 and i got a good strike rate. Anyway i just want to find the optimal laying strategy. I've looked into maria and it looks great it really does. But i feel i can maybee risk more to get a faster result I guess this is where my dicipline problems arives again.

Anyway thanks for coments. I will research more and test out with maria. The program i talked about(the staking machine) is great because you can test your system with just some few clicks. But the one that generates most money in that program is Lay kelly. But I'm sceptical to that.

Anyway have a nice weekend folks and good luck on your betting

[Tippus83]

A new question. What do you think if i increasd the percentage for maria staking. I never lay above 4.5 and got a great strike rate. I guess my profits would grow faster then. For example instead of 1% on odds below 3.5 i could use 3% or 2% or maybee 1.5% nad a bit under one of them if i go between 3.5 and 4.5. What do you guys who know what you are talking about think about that?

[eddie4]

can anyone supply me with a link to the maria laying thread so i can read it please as i am having trouble finding it. Thanks

[lunatism]

Originally Posted by eddie4

can anyone supply me with a link to the maria laying thread so i can read it please as i am having trouble finding it. Thanks

haha - you couldn't have looked very hard for this mate!!

http://www.expertbettingadvice.co.uk...read18432.html

[eddie4]

thanks mate yes its late and i am struggling ! Thanks for quick response.

[lunatism]

Originally Posted by Tippus83

A new question. What do you think if i increasd the percentage for maria staking. I never lay above 4.5 and got a great strike rate. I guess my profits would grow faster then. For example instead of 1% on odds below 3.5 i could use 3% or 2% or maybee 1.5% nad a bit under one of them if i go between 3.5 and 4.5. What do you guys who know what you are talking about think about that?

can't you test this on your past results? just set up a spreadsheet that does it and then put in different percentages to see how succesful you are

[Tippus83]

Will do will do. I have tested with alot of different stakingplans. Even tried my own ones But my conclusion is that i need more seletions. So i will continue putting really small stakes and see what happens. I want to come up to around 300-400. Now i got 139 with a strike rate of 80.7% with average odds of 3.88 and winning average odds of 3.91. Let's just hope it continues because then i'm sitting on a really powerful system...

I created a system where i layed with a fixed percentage and some other rules. That would have doubled my bank for march month. And it survived the badest run i've ever had better than level staking. But now I will test maria staking with a bit higher percentage then normally used..

Thanks for help

[Lardonio]

I guess the problem is often the attitude "won't need to work". I think making a living off betting will often require just as much (or more) daily work than actually "working", with a lot of extra risk involved. I'm sure there are exceptions, but my feeling is that professional gamblers usually work obsessively 8-12 hours a day, at least, to get the edge they need to make the cash necessary.

Of course, the reward could be great and you're your own boss. But if someone expects spending 10 minutes putting bets on and then making a living I'd say they're living in a dream world unless they're spending 10 minutes picking the right lottery numbers.

[happygooner]

If you're talking about systems I think it's probably more a case of putting the time and effort in to begin with to find something and get it right. Ideally, selections would then pick themselves and the only time you would spend would be making sure the right price is taken where possible and that everything was always 100% updated to allow further analysis where required.

Just ask the loon about automating something as opposed to putting in the legwork day in day out.