If you're asking how much money there is to be made in prerace markets then only you can answer that, for most people the answer would unfortunately be zero.MacrcoPolo wrote: ↑Mon Apr 20, 2020 4:24 pmLet's rephrase into something absolute:That would vary substantially depending on the skill and style of the trader. Scalping would return a small % profit whereas a trader who gets on steamers and drifters could potentially have a much higher return on turnover.
1. How much are the largest traders (pre off only) by profit in the market earning?
2. What fraction of the volume does the highest turnover trader execute?
Guesses are welcome, plus I want to generate some discussion on the size of the opportunity in these markets. Plus some gossip about 'what people have heard'. I don't know any other sports traders personally, so appreciate some of this info is probably sensitive.
If you're looking to talk ballpark figures which is not an easy thing to do you can just look at some of the P&L's that get posted around, judging by those you can see a prerace trader can maybe on average make 500-1000 on an average day of racing, with any three figure result on a particular race being generally considered a good result. Some are happy to go above three figures a day period, while some are happy just to end the day in profit.
I sometimes hear this question from outsiders looking in, they want to know how much money there is here or there before dipping their toes in, because they have no idea since there is very little transparency overall and too much misinformation, but there are no absolute answers here.
Usually what little transparency you get is only from people that benefit from being transparent, if they have a business to run or such. But most traders are well aware of the size of these markets and the size of opportunity, no need for any guesses. I know it's difficult to know which sources you can trust but just try to use common sense, if someone is running a legitimate business then they should be a trustworthy source, and if someone is not then you are allowed to be sceptical.
Hope that helps.