P&b Gambling University

[Guest Ron Burgundy]

Well what I would say is that you shouldn't look on Betfair as just another bookmaker. Let's just say you fancied a team to win and you thought a fair price was Evens (2.00) . If you go on Betfair and find that the price being offered is 2.02 you probably shouldn't back it, because you're paying between 2-5% commission and your edge is very small. There is nothing to stop you sticking up your bet trying to back @ 2.14 or something like that. There is every chance that someone will come along and lay it. You just have to be patient and see what happens as the market moves over time. The only downside to doing this is that if you do it for every single football market in the UK, you have to have a lot of money in your account to cover all of the potential backs and lays.

As for what to bet on, just whatever you think you can win on. I never, ever bet on horses or greyhounds because I've never followed them and I don't enjoy watching. I do bet on football and another three main sports. I follow all of these closely and keep up to speed with all of the information. If you fancy branching out into betting on another sport, you can always paper trade (ie write down the bets you would've placed but don't actually place them) to see if you can make a profit on it. Obscure sports have the advantage that the bookmakers probably don't know much about them. The problem comes if you start winning money from bookmakers on obscure sports - they'll limit you very, very quickly. The liquidity on Betfair is also likely to be poor for obscure sports and the people you are betting against are also likely to be following these sports closely.

I see.......well `i don't really but I was hoping there was a way of doing it that did notm involve a whole lot of research and hassle.....obviously you work hard at what you do and my get up and go fell into a coma recently......are there many folk doing what you do as I would assume you are in a huge minority if you consider your profit came from a large number of numbnutts.

Although despite not even knowing how to fill in a bookies slip...I had to ask the hired help when I bet on a grand national about 6 years ago.....if I was the gambling type i'd be pestering you for more information :D

Edited January 7, 2008 by Ron Burgundy

[blue4578]

I'm not sure of the exact numbers, but there are a lot more than say 10 years ago. As I was saying further up the thread, things like no betting tax, unrestricted singles on everything, the wealth of information on the internet and competition between bookmakers/exchanges means that there's never been a better time to make a profit from gambling than now. You can also become a professional online poker player and do quite well if you know what you're doing.

I'm quite lazy most of the time too, but when your job consists of watching sport and placing a few bets here and there, it's not too bad

[mid-table]

I'm not sure of the exact numbers, but there are a lot more than say 10 years ago. As I was saying further up the thread, things like no betting tax, unrestricted singles on everything, the wealth of information on the internet and competition between bookmakers/exchanges means that there's never been a better time to make a profit from gambling than now. You can also become a professional online poker player and do quite well if you know what you're doing.

I'm quite lazy most of the time too, but when your job consists of watching sport and placing a few bets here and there, it's not too bad

I want your job, even before that last paragraph.

I think I have the capability to make it work, the discipline, and the patience is coming, the starting bank is a couple of years away though.

[Guest Ron Burgundy]

I'm not sure of the exact numbers, but there are a lot more than say 10 years ago. As I was saying further up the thread, things like no betting tax, unrestricted singles on everything, the wealth of information on the internet and competition between bookmakers/exchanges means that there's never been a better time to make a profit from gambling than now. You can also become a professional online poker player and do quite well if you know what you're doing.

I'm quite lazy most of the time too, but when your job consists of watching sport and placing a few bets here and there, it's not too bad

Despite my earlier bravado my claim about single figure professional gamblers was based on an interview with angus loughrin from aye probably ten years ago

I'm pretty sure he said he studied obscure events and bet on them as the bookies did not have the time or inclination to study them properly as they rake it in on footy and horses anyway.

[blue4578]

If I had to estimate a figure, I'd guess somewhere around 8,000 people in the UK have gambling as their main source of income. It's certainly more than 5 as I've met at least 100

[Guest Ron Burgundy]

If I had to estimate a figure, I'd guess somewhere around 8,000 people in the UK have gambling as their main source of income. It's certainly more than 5 as I've met at least 100

I spose the interweb betfair stuff has taken the place of the pub bookies from ye days of old......if it;'s that many folk making a living their must be a shitload of fuckers spunking their wages every week

[blue4578]

I've spoken to some of the bosses at Betfair, most people do lose there. I think I read somewhere that 1.5% of Betfair's active users make at least £15,000 a year profit there. They have apparently 200,000 active users (although they have a lot more people registered) so that means 3,000 people making £15,000 a year or more from Betfair alone. Obviously there are a lot more places to bet and people could split their stakes between Betfair and other places as I do.

[Guest Ron Burgundy]

I've spoken to some of the bosses at Betfair, most people do lose there. I think I read somewhere that 1.5% of Betfair's active users make at least £15,000 a year profit there. They have apparently 200,000 active users (although they have a lot more people registered) so that means 3,000 people making £15,000 a year or more from Betfair alone. Obviously there are a lot more places to bet and people could split their stakes between Betfair and other places as I do.

f**k it on those figures i'm off to sauchiehall street with a trestle table, three cups and a ball.....anyone free to play stooge?

[Swampy]

Late to the thread, but my advice is: look at who the referee is when betting on football.

[Wug]

Late to the thread, but my advice is: look at who the referee is when betting on football.

I have never, ever considered this and doubt I ever will. Care to elborate?

[JohnoftheJungle]

Bet selectively, you don't have to bet on every race / match / event.

This is my main problem, especially with online betting.

I get a line up and always seem to stick it on something right away even if its a sport I have little knowledge or care for.

Last week I stuck my winning on Chicago Bulls at home to some team and started watching it at about 0230, they were up 10 points so I turned off and went to sleep safe in the knowledge it was money in the bank. I woke up and they had lost in overtime.

I would love to be a pro gambler but will never have the discipline or knowledge for it.

[Swampy]

I have never, ever considered this and doubt I ever will. Care to elborate?

Look at how apt the referee is to dish out cards, for one thing.

For example the Sevilla-Betis derby is usually good for a lot of hacking, and Sunday evening's one was no exception. However, Undiano Mallenco isn't *that* inclined to put his hand in his pocket - two red cards this season - so laying the Sending Off? option on Betfair made sense - the odds were drastically lower than they would be for a run-of-the-mill game, knowing that the Seville derby is a really brutal affair, but the referee didn't really suit that style at all.

Plus, I'd speculate that the ref would be under recommendation from his superiors not to do anything too controversial, given the violence problems that have dogged this fixture in the past. (Of course he allowed a handball goal, so it backfired a bit )

Edit: This site is good for ref stats for the bigger leagues - http://www.football-lineups.com/match/11707/ . Click on the Mallenco link to see his stats.

Edited January 8, 2008 by Swampy

[Guest Ron Burgundy]

I think i'll stick to mugging grannies as this gambling lark seems like hard work.

[the_russian]

I think i'll stick to mugging grannies as this gambling lark seems like hard work.

Aye but notice how they seem to carry less and less nowadays. You see stories in the papers about old grannies "robbed for just £28" etc

Because if you robbed them for £800 it would be ok?

[mid-table]

Aye but notice how they seem to carry less and less nowadays. You see stories in the papers about old grannies "robbed for just £28" etc

They carry so little because they've normally spunked the rest of their money away at the bingo and fruit machines.

[JCBino]

As promised 1 £100 single bet for the weekend from my mate who is doing well

Derby 5/6 v Preston (Will Hill)

I'm giving it a £20 single masel

Good Luck

[17Roundabouts]

Late poster to this thread but always believed that your emotions should be left at the Door and remember it's not an accident or coincidence that there is usually a pub next door to the bookies.

Not rocket science but stood me in good stead over the years..

[dubs]

As promised 1 £100 single bet for the weekend from my mate who is doing well

Derby 5/6 v Preston (Will Hill)

I'm giving it a £20 single masel

Good Luck

Would I f**k, Derby are shit!

[Lordofthewing]

As promised 1 £100 single bet for the weekend from my mate who is doing well

Derby 5/6 v Preston (Will Hill)

I'm giving it a £20 single masel

Good Luck

Would I f**k, Derby are shit!

Seconded. That's why I'm not touching that match with a bargepole.

Late poster to this thread but always believed that your emotions should be left at the Door and remember it's not an accident or coincidence that there is usually a pub next door to the bookies.

Not rocket science but stood me in good stead over the years..

Very true. However, I don't bet when I'm blootered, I just check what I want to put on while drinking a pint, then putting the bet on and continuing to drink afterwards

[Guest joejackson]

There are less than 5 professional gamblers (so the bookies say) who make a living from punting and apparently they would not consider betting on football or hordse racing as you CANNOT beat the bookies in these two sports.

There are some good informed opinions in this thread and some ridiculously misinformed nonsense, and unfortunately the above statement is so full of holes it resembles a sieve.

"less than 5 professional gamblers (so the bookies say)" -

Which bookies would that be then? Who are the sources for your claim?

I personally know many bookmakers, traders, sportsbook managers, publicity and marketing people in several different countries from the UK, Ireland, Italy Australia and mainland Europe, and they would all laugh at that statement.

I personally know very well at least a dozen professional punters, including two very successful poker players, and I know of many other successful bettors on course at the races and on the web betting on many different sports.

I also know several very successful spread bettors, indeed I have dealings with a handful on a daily basis, and I can categorically state that the opening claim is ridiculous and misinformed.

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I myself have for many years profited on-course and online, and despite what some people may think it is not easy. I spend more time preparing a bet than I ever have in any "job" I've ever had.

I spend many hours every week researching, studying, keeping records, analysing multiple factors, and have contacts around the country whom I keep in touch with on a regular basis. I maintain exhaustive databases, and have cross referenced sources to define error checking routines.

I have money management and buy/sell staking policies in operation that would be equally at home on the trading floor of any global stock exchange. I put incredible amounts of effort into what I do and I seriously get annoyed when I see other people dismissing my profession whilst spreading dangerous misinformation based on a lack of knowledge and understanding.