Betfair premium charges.

ramtha

I make my living from betfair and have been hit by these charges.It bugs the ---- out of me paying them these exorbitant rates(23.5%) and just thought I'd post it in case anyone has any ideas on avoiding them. I have used 2 accounts already and can't keep finding new ones but any suggestions welcome because I can't use betdaq for what I do.Thanks.

Keano

Betfair Charges There was a thread a while back on the issue of the charges being introduced. Not too sure you can get around it as they need to protect themselves.

thedini

Keano A Legend wrote: »

Betfair Charges There was a thread a while back on the issue of the charges being introduced. Not too sure you can get around it as they need to protect themselves.

Lol all they are doing is increasing thier charges.

OP no way around it. I have switched most of my bank to Betdaq, but you are probably trading using Betangel or something so unfortunately look at it like a tax and drive on.

Nowso

If ur winning with betangel keep goin

Famous45

Do you mind me asking how much your making? And for how many years have you been making it? I earn my living in a different capacity but have thought hard recently about taking up betfair on a part time basis.

ramtha

Firstly I served a long hard apprentiship where not alone did I lose money for seven years, yes seven(!), but I also lost self-respect and put myself through so much hardship and trauma and unbelievable pain because of gambling. Getting loans to fund 'my habit' and losing redundancy etc..not to mention countless hours of work and endless hours of overtime.
I don't mean to sound overly dramatic but hate to see people with false illusions about gambling.I'm not saying you couldn't make it pay if you tried as I don't know your knowledge level on sports but just feel the need to mention it.
Right,how much do I make? My first year fulltime(after my 7)I grafted day and night on betfair to win a modest 9k or something but thought I could do a lot better with a far better mental approach and I am so very glad to say that I did that on my second,winning nearly 69k but even when you think you've mastered this game it turns around and kicks you on the butt and the last 3 months of that year and the first month of this year were incredibly difficult and I ended with a nil p/l for that four month period.Its very hard to go to work for four months and not alone not get paid for it but loose money as well.Thankfully things improved a lot in february and this month has started great.I hope I haven't been too open but just wanted to show how its been for me.I know a lot of people that gamble including on course bookmakers and it really is a way of life and a hard one a lot of the time.Someone once said its a hard way to make an easy living and I find that very true.I wouldn't swap it though but it often gives a whole new meaning to the word challenging for me.
(I got another betfair acount btw..Not sure how long I can keep doing it but maybe you can see from the above why I resent giving these ******* 20%)

Famous45

I'm well aware of the impact that excessive gambling can have on a person. Lack of discipline combined with instability sadly results in a cruel lifestyle to not only you but others around you.

I was more interested in the figures. I believe I could profit €1000 a month, consistently, playing part time on horse racing, football & baseball.

I work professionally but would like to use less time on that and more time on Betfair. Suppose I just wondered if you really can reap the rewards on there and at what stage would the premium charge come into effect?

Thanks for the input.

ramtha

Premium charges can come into effect fairly quickly in some instances.Its practically impossible to understand but if you have a high strike rate, you are likely to be hit.If on the other hand you are a gambler with lots of losses and wins you might never get hit.Some of the markets have good liquidity at betdaq and they have good customer service so I try to use them where possible.
I don't play poker myself but very much admire the qualities a person needs to have to make it pay at that game.Perhaps even more so than sports betting.I have read a lot of poker books, zen and the art of poker etc..that have helped me adopt a more mature stance on my gambling,(most of the time!).Its still a journey though,always a journey to keep that balance and discipline.
In relation to making some kind of a transition from one to the other, its only a question you can awnser.Its a very isolating profession(which I like) but it can be a very alone place when you can't do a thing right etc..and nobody but yourself can reassure you that you can do it.
I'm not sure what else to say really. Make sure you know your stuff because there are plenty on there that do and stay lucky!!!!

Famous45

Cheers mate.

I wouldn't be making a full transition, purely putting an amount aside and using it part time, more of an experiment than anything.

I'll keep ya posted