What is bet trading?

[Betjase]

Must admit I'm not sure what trading is when it comes to horse or sports betting. Even more mystified on how I can make a regular income from trading bets on racing and sports or even if the level of money to be made is worth the time.

Can anyone clear this up?

[ikky]

In the same way that you can buy 100 shares of ABC company at $100, and maybe sell at $100.50 4 hrs later, there is no transaction cost to placing bets of sports - either pre-in-play or during in-play.

So, if you have a view that a horse/soccer team/any event covered on Betfair is over/under priced, you can trade this and win money if you are right (most of the time)

You would need a Betfair or another betting exchange account.

[Euler]

People have made a lot of money by doing it, but that doesn't mean anybody can. Trading can often be counterintuitive and alien to people who have never done it before.

[Derek27]

Must admit I'm not sure what trading is when it comes to horse or sports betting. Even more mystified on how I can make a regular income from trading bets on racing and sports or even if the level of money to be made is worth the time.

Can anyone clear this up?

As the majority of gamblers and traders lose, I think it's the wrong approach to get into anything that involves risking money thinking about a regular income. Learn to trade first and see if you take a liking to it. Here's a good starting point.

https://www.betangelacademy.com/

[ShaunWhite]

I think it's the wrong approach to get into anything that involves risking money thinking about a regular income.

So rule out all business startups? On my 2nd dalliance with trading I didn't treat it as a hobby like I did the 1st time. I treated it 100% as a business, knew the likely upside and invested in proportion to the risk/reward. Then treated it as a serious job, and it's been OK.

Tbh Derek I think plenty fail because they don't treat it like the established profession it is and expect to make money just playing at it. Success at trading requires an understanding of how you become successful at anything. I'm not saying you can't turn a hobby into a job just that there are other ways if you arrive with some relevent experience, and a massive slice of humility and reality about how little you know and how competitive it is.

[Kai]

Must admit I'm not sure what trading is when it comes to horse or sports betting.

Terrific question but we're not sure either. We're just randomly clicking on the ladder until the result turns green. If it doesn't, we let the bet go inplay.

[Derek27]

I think it's the wrong approach to get into anything that involves risking money thinking about a regular income.

So rule out all business startups? On my 2nd dalliance with trading I didn't treat it as a hobby like I did the 1st time. I treated it 100% as a business, knew the likely upside and invested in proportion to the risk/reward. Then treated it as a serious job, and it's been OK.

Tbh Derek I think plenty fail because they don't treat it like the established profession it is and expect to make money just playing at it. Success at trading requires an understanding of how you become successful at anything. I'm not saying you can't turn a hobby into a job just that there are other ways if you arrive with some relevent experience, and a massive slice of humility and reality about how little you know and how competitive it is.

Nothing wrong with treating it like a business on your 2nd dalliance.

I came to trading from a betting background with expertise in horse racing and didn't have to learn the basics of trading as it was obvious, but I never considered how much I can make, it was more a question of seeing what I can do. If you're going to open a shop, by all means expect to make money. If you're learning a skilled craft from scratch like hairdressing, plastering, etc. (not suggesting a retail business doesn't require skill) I personally think it's best to just focus on learning and seeing if it's for you. Luca was a prime example. He was talking about $10K bets and whether it's possible to make $100K a year before he even got to grips with trading.

[Kai]

Even more mystified on how I can make a regular income from trading bets on racing and sports or even if the level of money to be made is worth the time.

Can anyone clear this up?

Well, this may sound too good to be true but I heard that top traders out there are able to make a tenner per day. From clickbaits. And who knows, maybe from trading as well. It's crazy, I know. Makes my head spin just typing it out loud.

But if you move to a banana republic and want to trade from your hammock whilst sipping margaritas you only need to extract a total of 2 pounds per day out of multi-million markets. I know it sounds unrealistic but a man can dream

I hope this clarifies the matter.

[Emmson]

Even more mystified on how I can make a regular income from trading bets on racing and sports or even if the level of money to be made is worth the time.

Can anyone clear this up?

Well, this may sound too good to be true but I heard that top traders out there are able to make a tenner per day. From clickbaits. And who knows, maybe from trading as well. It's crazy, I know. Makes my head spin just typing it out loud.

But if you move to a banana republic and want to trade from your hammock whilst sipping margaritas you only need to extract a total of 2 pounds per day out of multi-million markets. I know it sounds unrealistic but a man can dream

I hope this clarifies the matter.

Have you been drinking vodka Kai?

[Kai]

Have you been drinking vodka Kai?

I thought that was all pretty accurate Maybe a touch too accurate!