I know my way around just about every online method of making money. Amazon FBA, dropshipping, matched betting... I even made money playing poker (genuinely, but only approx £2.50 an hour)
I had relative success in all these things but found with all of them they are marketed as an easy way to make big money. I found they were all actually time consuming to make a small amount of money.
Would you say bet trading is the same? Invest a lot of time learning and you can make small amounts of money? Or is the opportunity really there to make a living without spending 14 hour days infront of the screen?
I have great foundations from poker (knew how to play GTO poker, for those in the know) and understand all the fundamentals of exchanges, so I wouldnt be spending 3 weeks learning what a lay bet is...
Effort vs reward?
Well, depends on who's asking.
Ultimately, your output should depend on your input. But tricky to generalize since most people should never see profit at all when (sports) trading.
If you've been composed and methodical with other things like poker then I don't see why you couldn't learn how betting markets work.
Ultimately, your output should depend on your input. But tricky to generalize since most people should never see profit at all when (sports) trading.
If you've been composed and methodical with other things like poker then I don't see why you couldn't learn how betting markets work.
Yep, composed and methodical. Understand making profitable moves that pay off long term.
I think I'm just trying to avoid grinding at this like I did poker to discover its just not worth it.
But like you say, I appreciate its impossible to answer really.
I think I'm just trying to avoid grinding at this like I did poker to discover its just not worth it.
But like you say, I appreciate its impossible to answer really.
Anything marketed as an easy way to make money should never be taken seriously.
Enjoyment should be included as part of the reward, if you enjoy trading or enjoy your poker - many people would bite your arm off for a career that involves watching football all day.
You may be "grinding away" for a few quid, but if you develop a profitable strategy that's scalable to some extent, those profits can increase without any extra work.
Enjoyment should be included as part of the reward, if you enjoy trading or enjoy your poker - many people would bite your arm off for a career that involves watching football all day.
You may be "grinding away" for a few quid, but if you develop a profitable strategy that's scalable to some extent, those profits can increase without any extra work.
Funny you mention scalability. I think I've found a really profitable manual trade that I stumbled on creating a value bet strategy that didn't work (analysed a lot of data through chat GPT trying to find value!).Derek27 wrote: ↑Wed Jan 10, 2024 8:31 pmAnything marketed as an easy way to make money should never be taken seriously.
Enjoyment should be included as part of the reward, if you enjoy trading or enjoy your poker - many people would bite your arm off for a career that involves watching football all day.
You may be "grinding away" for a few quid, but if you develop a profitable strategy that's scalable to some extent, those profits can increase without any extra work.
Which is what got me curious on trading. Small sample though so trying not to get too excited. But its very low liquidity. HOWEVER. If I am right, I'm sure I can scale my volume if not my stake.
One advantage of this game is it can be automated as well, so if you find a edge in the market you can set that off to run on it's own and focus on the next one.
It sounds like you are approaching it with the right attitude. Lots of people turn up and just expect to print money instantly, but of course, you need to get an edge.
It sounds like you are approaching it with the right attitude. Lots of people turn up and just expect to print money instantly, but of course, you need to get an edge.
Then it's probably a reasonable indicator that it's possible, if not likely. But even if you wrote more than a few lines about yourself we still wouldn't know what your ceiling is, which is what you basically asked there, only you could know this, but probably still won't know unless you try. What we do know is that the entry requirements probably go up each year slowly, so that's less profit to go around for everyone. Many people can post here and show it's worth it for them but that doesn't help you one bit since everyone has a different journey.
Not sure you can escape the grind, however, not many find success in the first year. At first you grind for knowledge and then you grind for profit, but since markets keep evolving you can never stop learning about markets or you can lose your edge. Even the smallest markets are competitive, people can use small stakes to grind out a small edge but over a large number of markets so it's still worth it for them. If you don't think you have the appetite for it then it's not a bad idea to find some experts to accelerate the process.
Well, in this case it may not be easy to automate as it actually involves researching horses as though I'm trying to make a winning bet and then exploiting, to be a little vague.Euler wrote: ↑Wed Jan 10, 2024 10:06 pmOne advantage of this game is it can be automated as well, so if you find a edge in the market you can set that off to run on it's own and focus on the next one.
It sounds like you are approaching it with the right attitude. Lots of people turn up and just expect to print money instantly, but of course, you need to get an edge.
But I think this has all peaked my interest and I'm going to start tinkering. I may actually stick with a manual approach while I learn and try some out of the box thinking rather than trying to dive in and try the same things every beginner does