A Warning to ALL

[Steve Voltage]

After two years on Betfair i have finally realized what has been posted many many times on the Betfair forum and that long term winning can not be done I have lost three thousand in year one and seven thousand this year. I have tried this and i have tried that(everything) and even though three or four months are successful in the long term you lose. I just want to warn others about the pitfalls of this business. IT CAN'T BE DONE Betfair in my opinion should only be treated as a hobby and nothing eles. Goodbye and good luck.

Arnold

[milfor]

Your losses were the winnings of someone else (minus commission). That you couldn't do it doesn't mean that it can't be done.

[pugs]

Arnold it always saddens me when i hear of someone who has suffered large losses, i hope in your instance they were relative/sustainable.

I obviously do not know your circumstances but It is so easy for ANY online gambling to go from a fun bet to serious losses in a very short time, I remember reading about a single mum who blew 10k (credit card) in an online casino one afternoon just by trying to win enough to buy her son a pair of trainers, how sickening. Discipline is an absolute must.

If 50% of Betfair users just backed every evens shot and the other half layed them, eventually we would all be broke, commission guarantees that, and chasing is a mugs game, when that eventually bites it really hurts. So anyone serious about making sustained profits on Betfair MUST have an edge, or even several. I am only on this forum because i use Gruss software, just one of the many things in my arsenal that i believe gives me an edge, Gary and Mark continually upgrade their software because they know the importance of their customers having that edge, to help keep us the right side of that very fine line, without it commission will eventually get us all.

Arnold i wish you well and hope you are able to quit, NEVER return or try and chase your losses if you don’t have that edge, if gambling has become a problem you should confide in family/friends (loved ones) a problem shared and all that, plus you are less likely to crack if you are letting someone else down. Good luck mate.

[kiwi_kid]

Well said pugs. I agree though that for many of us gambling and to some extent, trading should only be considered a hobby, myself included. However I'm sure we all aspire to become good enough and disciplined enough to turn it into something more than that. Of course there are those among us who are good enough at this game to make money and enough to live on, but it isn't easy, otherwise we would all be doing it. I love "playing" with trading myself, but would find it a bit of a chore if it was my full time job - I don't think it would be fun at all, and those really good days you have trading wouldn't hold the same thrill for me. Anyway Arnold, good luck with your future hobbies, keep your money in your pocket.

[Topspin]

Yes Arnold, most people do loose at gambling. That it can't be done full stop is not true, but that most can't is true. Why? As others have said, it takes discipline and as pugs said, an edge.

This is my first post on this forum and I'm only here having a casual read due to starting to use the Betting Assistant software. You see, I have that edge pugs talks about already, so I personally know a profit can be consistently made. This software is just an experiment to see if I can automate what I already do on betfair. Do I tell others how I do what i do or how I do it, no.

Do I care about people who loose a lot, yes, I don't like to see people suffer hardship. That is problem gambling and is the same addiction as taking certain drugs.

You mention the word "hobby", well gambling is just a hobby for most and that is all it will ever be, which is fine if your enjoying it. Having the excitement of the chase is what it's all about for most people. The bookies and people like me make a lot of money from them and they pay my bills. Should I feel bad because someone has had some fun, but lost a bet? Should I feel envy every time I see a successful person? No, I will ask, how does he do that.

This post may not even get read as the posts are old, but if someone does read this, or even Arnold himself, I will just say that I hope whoever you are and whatever your doing, that you keep your dreams, but remember to keep them in perspective to your abilities. The SAS say "Who dares wins", it's true but just remember, a lot of training goes into earning the right to say it. I hope you find your way of being happy with who you are and take responsibility for what you do. I include myself in in all these points. All the best.

[mantas779]

I am sorry to hear it.


I make steady $ with BA , risk free. If i would live alone, i could make a living of it. I traded futures on the financial markets in the past, so i know about money management and risk reward ratio's.

So don't tell it ca't be done , poker is also hot now, but also there only the top makes $. And it is a small %. It is all about trading. Do not enter a match/race with a position. Or well prepared.

Hope the losses don't hurt you to much.

Gr, Marcel