Hard struggling with myself

[Anbell]

Thank you both for excellent answers! Another question, I understand that BSP is widely known to be as close to 0ev as you'll get, but I suppose there are also a certain number of people who makes money from for simply laying, or backing BSP (without hedging), when certain criteria are met, estimating BSP "as too good", right?

Correct. I'm about 80% of my bets at bsp

[lotora]

Great!, and the same for greyhounds?

[ShaunWhite]

Thank you both for excellent answers! Another question, I understand that BSP is widely known to be as close to 0ev as you'll get, but I suppose there are also a certain number of people who makes money from for simply laying, or backing BSP (without hedging), when certain criteria are met, estimating BSP "as too good", right?

It's only close to correct on a very large scale, with bsp being a point with the least varience. Each individual one is incorrectly to some degree. If you're looking for value then you'll get more by betting earlier when there's greater varience.

Just a clarification on this "bsp is correct" thing. Prices are actually correct when taken as a whole at anytime There's no given time or set of random times when prices show a bias. It's that bsp shows the least variance, and it would as its the point where the most information is known and the most money transacted.

Sorry for the deviation snopyman just wanted to clear that up, it gets misunderstood.

[Anbell]

Great!, and the same for greyhounds?

yes

[Snaff]

Snopyman

Trade with pence and grow from there. Throwing money at it will not make it work and the market will eat what ever bank you have very quickly. You will likely go round in circles for a long time and may never be profitable. Trading is much much harder than it looks and the market is not forgiving.

[lotora]

Snopyman

Trade with pence and grow from there. Throwing money at it will not make it work and the market will eat what ever bank you have very quickly. You will likely go round in circles for a long time and may never be profitable. Trading is much much harder than it looks and the market is not forgiving.

Nicely put! It's of course much easier said than done, but if you can stick with it, it may save you a fortune until you become successful.

[HarryB]

Hi iv got a question regarding premium charge. From my understanding they say if you bet more than a certain number of markets and your account is in profit then you get charged 20%, does this mean individual markets or a specific match?

Let's say there's a football match on I bet match odds, over/under 2.5 goals and 3.5 and 4.5 in that same game is that considered 4 markets?? Or just 1 because its 1 game

Any help appreciated

Thanks as always

[Derek27]

Hi iv got a question regarding premium charge. From my understanding they say if you bet more than a certain number of markets and your account is in profit then you get charged 20%, does this mean individual markets or a specific match?

Let's say there's a football match on I bet match odds, over/under 2.5 goals and 3.5 and 4.5 in that same game is that considered 4 markets?? Or just 1 because its 1 game

Any help appreciated

Thanks as always

It's quite complex and worth reading up on the rules: https://www.betfair.com/aboutUs/Betfair ... /#charges6

Basically (and over-simplifying), providing you meet certain criteria, you pay on a weekly basis the lesser of the two, 20% of your week's gross profit minus commission generated, or 20% of your lifetime's gross profit minus your lifetime's commission generated.

The latter calculation ensures that if you have a losing week or a few losing weeks, you won't pay PC again until you're lifetime PC drops to 20% again.

[HarryB]

Thanks for the response my question was more based on their Criteria. One of the stipulations is you need to have bet in more than 250 markets, was wondering what they mean exactly by markets.

If you bet match odds and under over 1.5 goals and 2.5 goals in the same match, is that considered 1 market or 3?? Its So easy to get to 250 markets if bet match odds and goals markets in each match seems very harsh if bet under and over 1.5 goals upto 5.5 goals and FGS and match odds will be on premium in no time

[Derek27]

Thanks for the response my question was more based on their Criteria. One of the stipulations is you need to have bet in more than 250 markets, was wondering what they mean exactly by markets.

If you bet match odds and under over 1.5 goals and 2.5 goals in the same match, is that considered 1 market or 3?? Its So easy to get to 250 markets if bet match odds and goals markets in each match seems very harsh if bet under and over 1.5 goals upto 5.5 goals and FGS and match odds will be on premium in no time

That would be three markets. It's one event but three markets. You can see how many markets you trade by looking at your PL page.

The 250 markets isn't really relevant. It's just there to protect the very very few people who have a big win but haven't traded many markets and would have to pay PC otherwise.

You also have a £1000 allowance, so you could win £5-10K, even more, before paying PC. It all depends on how much commission you pay compared to your gross profit.

[ShaunWhite]

Thanks for the response my question was more based on their Criteria. One of the stipulations is you need to have bet in more than 250 markets, was wondering what they mean exactly by markets.

If you bet match odds and under over 1.5 goals and 2.5 goals in the same match, is that considered 1 market or 3?? Its So easy to get to 250 markets if bet match odds and goals markets in each match seems very harsh if bet under and over 1.5 goals upto 5.5 goals and FGS and match odds will be on premium in no time

You're going to be waaaaay over 250 if you do this for any length of time so don't worry about how it's counted.

If you've read the link to the rules Derek posted you'll see that PC is only an issue if your lifetime commission /gross is under 20%. If you're starting from a blank slate now is a good time to start generating commision even for no net gain. Stay over 20% and you don't pay pc.

[HarryB]

Cheers all very helpful

[Kai]

Props to OP for posting his biggest mistakes, it's a very good sign

Admitting and owning up to your mistakes goes a long way towards rectifying them