A cautionary tale

[Michael5482]

Why post the BA Limited credit report ?

That relates to profit of the company and not how much Peter has made over the years trading himself as he wouldn’t put that through the company and be liable for tax on it.

In the UK there is no tax liability on personal sports trading. Although there might be be on sports spread betting.

A very strange post by someone who has probably lost his pants to the mad bomber and has shit rolling down the back of his legs.

Go cry somewhere else and get yourself some nappies.

Are you mentally retarded? Where did I suggest that Peters was trading profits? You are the walking embodiment of a strawman. That is the money being made from people's subscriptions on this site. The point is, its a nice straight line, unlike most people's accounts.

#BeTheCasino

Did you lose money on here: https://www.foxybingo.com/

What I don't understand if you've been in the crypto markets for 15 years you'd have transferable skills like risk management, patience and you'd expect to have the foresight to do some research to name a few however that doesn't guarantee a profit as there's a lot more to sports trading as we know but you'd expect some type of planned approach but sounds like he's gone in knacker deep and blamed Peter for his own failings.

That's the world we live in now personal responibilty is unheard of it's always someone else's fault. However it doesn't apply to those who fully appreciate how to accept risk, manage risk and fully embrace risk in their trading/gambling, I'll put myself out on a limb here and say they tend to be the successful people

[ForFolksSake]

So, here's my advice: Save yourself thousands of hours, money, and stress. Withdraw what you have left on the exchange and close your account.

Thanks for the advice

[Hepburn]

OP may have a gambling problem and we are his sounding board for his current disillusionment.

[Kai]

Not sure why Peter gets so much flak, man uses his platform to pass down knowledge and experience for practically free? Objectively, as a pioneer he could've been milking it all this time till the cows come home, but he went the much harder route and got stuck into the markets instead. You have to respect that.

TL;DR version : Peter catches strays after local man tries to replace lost crypto edge with a lay the draw

[Kai]

So, here's my advice: Save yourself thousands of hours, money, and stress. Withdraw what you have left on the exchange and close your account.

My advice is to look inward, instead of lashing out at the first face you see. My LTD also came crashing down in the first few months, but I never blamed Aguero for missing pens etc.

[CloseBets]

Being polite I think you're a f@ckin idiot.

Classic response from the angry, overweight, middle aged goons that would usually populate this kind of place... *eye roll*

To be fair he's probably got that part right

[Fugazi]

Being polite I think you're a f@ckin idiot.

Classic response from the angry, overweight, middle aged goons that would usually populate this kind of place... *eye roll*

Seek therapy.

[Fugazi]

Are you mentally retarded? Where did I suggest that Peters was trading profits? You are the walking embodiment of a strawman. That is the money being made from people's subscriptions on this site. The point is, its a nice straight line, unlike most people's accounts.

#BeTheCasino

Did you lose money on here: https://www.foxybingo.com/

What I don't understand if you've been in the crypto markets for 15 years you'd have transferable skills like risk management, patience and you'd expect to have the foresight to do some research to name a few however that doesn't guarantee a profit as there's a lot more to sports trading as we know but you'd expect some type of planned approach but sounds like he's gone in knacker deep and blamed Peter for his own failings.

That's the world we live in now personal responibilty is unheard of it's always someone else's fault. However it doesn't apply to those who fully appreciate how to accept risk, manage risk and fully embrace risk in their trading/gambling, I'll put myself out on a limb here and say they tend to be the successful people

This.

I was profitable at poker but couldn't quite make it (maybe £2 an hour). But in 15 years of poker (maybe 3-4 of doing any kind of real study for it) it taught me so many skills that I since converted to selling random Ebook on Ebay, Selling on Amazon, BA, Forex.

Not all of them were great successes, but losses were minimal and I had the patience not to go stick the lot on Red. I find it hard to believe OP was in Forex 15 years and yet has gone to the effort of a long post on why gambling is bad.

OP, its very clear you have invested more money in your journey than you were comfortable losing.

[Boomer]

I've been in and around financial markets for 15 years.

Yet somehow failed to notice that, for example, the pre-off horse racing markets rely primarily on basic order flow knowledge. (pictures too) No disrespect to those who find it challenging, but when compared to, say, firing up Sierra Charts and trading the E-mini at the NY open, the difference is night and day.

[sniffer66]

Did you lose money on here: https://www.foxybingo.com/

What I don't understand if you've been in the crypto markets for 15 years you'd have transferable skills like risk management, patience and you'd expect to have the foresight to do some research to name a few however that doesn't guarantee a profit as there's a lot more to sports trading as we know but you'd expect some type of planned approach but sounds like he's gone in knacker deep and blamed Peter for his own failings.

That's the world we live in now personal responibilty is unheard of it's always someone else's fault. However it doesn't apply to those who fully appreciate how to accept risk, manage risk and fully embrace risk in their trading/gambling, I'll put myself out on a limb here and say they tend to be the successful people

This.

I was profitable at poker but couldn't quite make it (maybe £2 an hour). But in 15 years of poker (maybe 3-4 of doing any kind of real study for it) it taught me so many skills that I since converted to selling random Ebook on Ebay, Selling on Amazon, BA, Forex.

Not all of them were great successes, but losses were minimal and I had the patience not to go stick the lot on Red. I find it hard to believe OP was in Forex 15 years and yet has gone to the effort of a long post on why gambling is bad.

OP, its very clear you have invested more money in your journey than you were comfortable losing.

Interesting on the poker side. I was actaully very successful botting on poker back around 2005 to 2010. Using the most simple, but horrible, shove or fold strategy on money tables. Was playing 1000's of hands a day across multiple machines on 25c/50c tables but had so many banks confiscated and was banned on most sites that it became unworkable. Was a shame as I made around £7k a month in my last few months, that's how I ended up on BF - as they are kind to bots lol

[Anbell]

I got into sports betting this year because a friend of a friend is a professional sports bettor. During Christmas, he casually told me, "Just lay the draw on Test match cricket—it always makes money!"

So, I did. And for the most part, it works. But honestly, it’s like picking up pennies in front of a steamroller. The risk-to-reward ratio is something like 10:1, but you do win about 80% of the time. Laying £100 on every match has been profitable this year, at least.

But here's the thing—this was just the gateway drug. You know how it goes: "If this works, what else works?" We've all been there!

A little background about me: I've been in and around financial markets for 15 years. Although I make most of my money in the crypto markets (where nothing boosts your PnL like a good exponential growth wave), making money felt almost easy at times. But those kinds of environments don’t last forever.

I ventured into laying the draw in football, only to find out that it’s much harder than it seems. Fast forward to this week, and I stumble across Bet Angel. That’s when it hit me. I saw this forum full of people all asking the same question: "How exactly do you make money doing this?"

It felt like déjà vu. I’ve seen this exact same structure in every market I’ve traded—bonds, ETFs, options, forex, traditional finance, crypto, poker—you name it. They’re all nearly zero-sum games (minus commissions and fees), and the profit structure is identical.

Take poker, for example. In a tournament, only the top 10% (or fewer) will actually make money. Every single brokerage firm in the UK now has to display a disclaimer on their websites: "90% of our customers lose money."

It’s the same in horse racing. There might be £100,000 bet on 8 horses by 50,000 punters, but only around 10-12% of people will turn a profit, regardless of the strategy they use.

The only people who consistently make money from these markets (not in them) are the enablers—Betfair, Bet Angel, PokerStars, Pepperstone, etc. A quick look at Bet Angel's finances over the past few years shows they've made over half a million from punters, all while having zero market exposure. Someone's winning, but it’s not us...

Long story short, always be acutely aware of who is incentivized to act in a certain way—and more importantly, who stands to profit from it. Peter's YouTube videos, where he casually says, "Just click here and make £3," seem innocent enough. I mean, who’s ever been scammed by a middle-aged white guy, right? He always wins, and it’s only small amounts!

YouTube probably has petabytes of videos just like this, featuring different men and different markets. But they all boil down to the same reductive formula:

Buy my course. Buy my book. Buy my software.

If you’re just starting out and you think you can make money in any of these environments, what you’re really saying is, "I believe I can beat 80%+ of other market participants" But if you really think about it, mathematically, you can’t. If we could all just turn up and consistently take a few ticks out of every market, there would be no market!!!

So, here's my advice: Save yourself thousands of hours, money, and stress. Withdraw what you have left on the exchange and close your account.

You are correct about one thing. There's no free money here, or anywhere.

You are wrong about at least one thing: Peter is rightly revered around here. He has earnt his reputation, and he deserves his reputation.

[Fugazi]

What I don't understand if you've been in the crypto markets for 15 years you'd have transferable skills like risk management, patience and you'd expect to have the foresight to do some research to name a few however that doesn't guarantee a profit as there's a lot more to sports trading as we know but you'd expect some type of planned approach but sounds like he's gone in knacker deep and blamed Peter for his own failings.

That's the world we live in now personal responibilty is unheard of it's always someone else's fault. However it doesn't apply to those who fully appreciate how to accept risk, manage risk and fully embrace risk in their trading/gambling, I'll put myself out on a limb here and say they tend to be the successful people

This.

I was profitable at poker but couldn't quite make it (maybe £2 an hour). But in 15 years of poker (maybe 3-4 of doing any kind of real study for it) it taught me so many skills that I since converted to selling random Ebook on Ebay, Selling on Amazon, BA, Forex.

Not all of them were great successes, but losses were minimal and I had the patience not to go stick the lot on Red. I find it hard to believe OP was in Forex 15 years and yet has gone to the effort of a long post on why gambling is bad.

OP, its very clear you have invested more money in your journey than you were comfortable losing.

Interesting on the poker side. I was actaully very successful botting on poker back around 2005 to 2010. Using the most simple, but horrible, shove or fold strategy on money tables. Was playing 1000's of hands a day across multiple machines on 25c/50c tables but had so many banks confiscated and was banned on most sites that it became unworkable. Was a shame as I made around £7k a month in my last few months, that's how I ended up on BF - as they are kind to bots lol

I think online poker could genuinely be at risk with AI. Around when i stopped playing I was using offline software to calculate the mathematically correct solutions to scenarios (GTO) poker. AI is powerful enough now for people to do this in realtime - I don't see how it can be prevented. Users could just use it some of the time to avoid detection mixed with human play.

Hopefully though could be good for live poker. Though equally could become a game of the past as people are more interested in being a famous Youtuber than a pro poker player

[sniffer66]

This.

I was profitable at poker but couldn't quite make it (maybe £2 an hour). But in 15 years of poker (maybe 3-4 of doing any kind of real study for it) it taught me so many skills that I since converted to selling random Ebook on Ebay, Selling on Amazon, BA, Forex.

Not all of them were great successes, but losses were minimal and I had the patience not to go stick the lot on Red. I find it hard to believe OP was in Forex 15 years and yet has gone to the effort of a long post on why gambling is bad.

OP, its very clear you have invested more money in your journey than you were comfortable losing.

Interesting on the poker side. I was actaully very successful botting on poker back around 2005 to 2010. Using the most simple, but horrible, shove or fold strategy on money tables. Was playing 1000's of hands a day across multiple machines on 25c/50c tables but had so many banks confiscated and was banned on most sites that it became unworkable. Was a shame as I made around £7k a month in my last few months, that's how I ended up on BF - as they are kind to bots lol

I think online poker could genuinely be at risk with AI. Around when i stopped playing I was using offline software to calculate the mathematically correct solutions to scenarios (GTO) poker. AI is powerful enough now for people to do this in realtime - I don't see how it can be prevented. Users could just use it some of the time to avoid detection mixed with human play.

Hopefully though could be good for live poker. Though equally could become a game of the past as people are more interested in being a famous Youtuber than a pro poker player

Yeah, agreed on the AI side, but its getting past very sophisticated detection software that's the issue. The problem I had was evading the sites anti-bot protection, and it kept getting better. Was randomising mouse clicks to random button pixels, time to take action, hiding my bot software in virus rootkits but whatever I did their software kept seeing my play as "non-human". I had about £5k confiscated of my banks on various sites, then the US UGEA amendment came in banning online gambling in the States (where most of my fish were living) and I gave it up as a bad thing. Was lovely whilst it lasted though

I think they even ban\block HUD software these days ? I bought about 1 million hands for my data analysis from a HUD supplier and that was what my (simple) strat was based on - purely data driven and knowing which hands were EV+ from each table position

[Fugazi]

Interesting on the poker side. I was actaully very successful botting on poker back around 2005 to 2010. Using the most simple, but horrible, shove or fold strategy on money tables. Was playing 1000's of hands a day across multiple machines on 25c/50c tables but had so many banks confiscated and was banned on most sites that it became unworkable. Was a shame as I made around £7k a month in my last few months, that's how I ended up on BF - as they are kind to bots lol

I think online poker could genuinely be at risk with AI. Around when i stopped playing I was using offline software to calculate the mathematically correct solutions to scenarios (GTO) poker. AI is powerful enough now for people to do this in realtime - I don't see how it can be prevented. Users could just use it some of the time to avoid detection mixed with human play.

Hopefully though could be good for live poker. Though equally could become a game of the past as people are more interested in being a famous Youtuber than a pro poker player

Yeah, agreed on the AI side, but its getting past very sophisticated detection software that's the issue. The problem I had was evading the sites anti-bot protection, and it kept getting better. Was randomising mouse clicks to random button pixels, time to take action, hiding my bot software in virus rootkits but whatever I did their software kept seeing my play as "non-human". I had about £5k confiscated of my banks on various sites, then the US UGEA amendment came in banning online gambling in the States (where most of my fish were living) and I gave it up as a bad thing. Was lovely whilst it lasted though

I think they even ban\block HUD software these days ? I bought about 1 million hands for my data analysis from a HUD supplier and that was what my (simple) strat was based on - purely data driven and knowing which hands were EV+ from each table position

You might have been overlooking their simplest test. You may have appeared as an anomaly on the graph with 10 percent better ROI than everyone else

Bit of a tangent - I know my brother used to share his account with his mate. Would swap mid game and it would confuse the hell out of their opponent. This was Pre HUDs etc

[sniffer66]

I think online poker could genuinely be at risk with AI. Around when i stopped playing I was using offline software to calculate the mathematically correct solutions to scenarios (GTO) poker. AI is powerful enough now for people to do this in realtime - I don't see how it can be prevented. Users could just use it some of the time to avoid detection mixed with human play.

Hopefully though could be good for live poker. Though equally could become a game of the past as people are more interested in being a famous Youtuber than a pro poker player

Yeah, agreed on the AI side, but its getting past very sophisticated detection software that's the issue. The problem I had was evading the sites anti-bot protection, and it kept getting better. Was randomising mouse clicks to random button pixels, time to take action, hiding my bot software in virus rootkits but whatever I did their software kept seeing my play as "non-human". I had about £5k confiscated of my banks on various sites, then the US UGEA amendment came in banning online gambling in the States (where most of my fish were living) and I gave it up as a bad thing. Was lovely whilst it lasted though

I think they even ban\block HUD software these days ? I bought about 1 million hands for my data analysis from a HUD supplier and that was what my (simple) strat was based on - purely data driven and knowing which hands were EV+ from each table position

You might have been overlooking their simplest test. You may have appeared as an anomaly on the graph with 10 percent better ROI than everyone else

Bit of a tangent - I know my brother used to share his account with his mate. Would swap mid game and it would confuse the hell out of their opponent. This was Pre HUDs etc

Fair point, but I think it was that I had about 50 accounts across about 10 poker sites, all doing exactly the same thing lol. I tapped up all my friends and family for ID