I have just created an account on here after watching countless Bet Angel videos on YouTube. I have just finished University and would like to give betfair trading a proper shot before I have to get a more 'traditional' job...
I love horse racing and use the exchange daily whether that be backing my own selections based on form or (trying) to follow the money.
I am mainly wondering if anyone could point me in the right direction on how to get started, whether that be recommending a trading course or just some general advice from your experience doing this.
Cheers!
21 yr old looking for all round advice
I'd honestly say, don't waste your time!
At your age, building wealth needs to start as soon/early as possible....get a job, start earning and building up equity in every tax-free bucket you can fill up...
Wasting a year or more now doing this could hurt you in more ways than one....
Sure, do it at the weekend as a hobby, but as a way to make money its a total non-runner
At your age, building wealth needs to start as soon/early as possible....get a job, start earning and building up equity in every tax-free bucket you can fill up...
Wasting a year or more now doing this could hurt you in more ways than one....
Sure, do it at the weekend as a hobby, but as a way to make money its a total non-runner
Thanks for your reply. I've noticed that the exchange is not what it used to be in terms of liquidity, would that be one of the main factors as to why it isn't as viable now?
I've spoke to a few people who are still making it work but obviously it's not wise to believe everything you see online.
I've spoke to a few people who are still making it work but obviously it's not wise to believe everything you see online.
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jamesedwards
- Posts: 5188
- Joined: Wed Nov 21, 2018 6:16 pm
Far be it from me to discourage new blood into the markets. It's what the exchange desperately needs, and you are very welcome.
But don't underestimate how tough exchange trading is. Pre-off you're up against people who have faster and better info than you. In-running you're up against people with years of race-reading experience and using expensive drone pictures.
Also consider the expected lifespan of horse racing on the exchange. The liquidity and opportunity trend has been down for many years and personally I see no reason for that to change. Would I be confident that horse racing will still be relevant in 10/20 years? I wouldn't bet on it. You will still only be in your 30s. (Lucky!)
Obviously it's not impossible to make a living at this game, otherwise there would be nobody here. I started in 2018 and was lucky to fall into almost immediate profitability, but that is rare. Are you in the UK? It's much harder to manage a bank these days in the UK with all the KYC rules and regs. I wouldn't have been able to even enter the game back then with today's financial rules, and I was 40ish and cash rich, while you're only 21 and fresh out of uni. Do you have any decent cash or income behind you? You will need to demonstrate a reasonable income to be able to deposit and might find yourself cut off if you deposit or lose too much. I believe it's even harder for those under 25?
But don't underestimate how tough exchange trading is. Pre-off you're up against people who have faster and better info than you. In-running you're up against people with years of race-reading experience and using expensive drone pictures.
Also consider the expected lifespan of horse racing on the exchange. The liquidity and opportunity trend has been down for many years and personally I see no reason for that to change. Would I be confident that horse racing will still be relevant in 10/20 years? I wouldn't bet on it. You will still only be in your 30s. (Lucky!)
Obviously it's not impossible to make a living at this game, otherwise there would be nobody here. I started in 2018 and was lucky to fall into almost immediate profitability, but that is rare. Are you in the UK? It's much harder to manage a bank these days in the UK with all the KYC rules and regs. I wouldn't have been able to even enter the game back then with today's financial rules, and I was 40ish and cash rich, while you're only 21 and fresh out of uni. Do you have any decent cash or income behind you? You will need to demonstrate a reasonable income to be able to deposit and might find yourself cut off if you deposit or lose too much. I believe it's even harder for those under 25?
Last edited by jamesedwards on Mon Jan 12, 2026 1:20 pm, edited 1 time in total.
That certainly plays a role, but as with most forms of risk taking, it's very hard to find an edge, much less sustain one.
Work in a trad job is pretty much nailed on and money banked in your pension. Something that wasnt clearly explained to me as a young man. Because of the compounding nature of returns over long periods of time, the most firepower is the money that goes in the soonest. You have to think, at your age, every £1 you earn and save into tax-efficientt means should be worth £30 to you at retirement.
There are endless people who will tell you online they can perform all manner of miracles, i'd choose to believe none of them...
Work in a trad job is pretty much nailed on and money banked in your pension. Something that wasnt clearly explained to me as a young man. Because of the compounding nature of returns over long periods of time, the most firepower is the money that goes in the soonest. You have to think, at your age, every £1 you earn and save into tax-efficientt means should be worth £30 to you at retirement.
There are endless people who will tell you online they can perform all manner of miracles, i'd choose to believe none of them...
One thing I wish I'd done when I was young was take more risk, more chances.
You really have nothing to lose at this point, and you probably have a safety net in terms of family.
I gave the same advice to Adam Heathcote when he was at Exeter university and that didn't turn out too bad.
Lots of people put me off doing stuff when I was young, and as I moved through my career, I realised they were all wrong. Everything worked out OK in the end, but people telling me the risks of doing things when I was young, wasn't the right advice.
Thankfully, I always aspired not to be in a normal job, and that was the key to where I find myself now.
When you are young you can make mistakes and bad choices and still have plenty of time to recover. When you are older, people tend to trade their dreams for security, so whatever takes your fancy when you are young you should try it, to say at least you gave it a go.
You really have nothing to lose at this point, and you probably have a safety net in terms of family.
I gave the same advice to Adam Heathcote when he was at Exeter university and that didn't turn out too bad.
Lots of people put me off doing stuff when I was young, and as I moved through my career, I realised they were all wrong. Everything worked out OK in the end, but people telling me the risks of doing things when I was young, wasn't the right advice.
Thankfully, I always aspired not to be in a normal job, and that was the key to where I find myself now.
When you are young you can make mistakes and bad choices and still have plenty of time to recover. When you are older, people tend to trade their dreams for security, so whatever takes your fancy when you are young you should try it, to say at least you gave it a go.
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ShaunWhite
- Posts: 10674
- Joined: Sat Sep 03, 2016 3:42 am
If you do this then remember you won't have a proof of income, renting could be difficult and a mortgage impossible. It's more suited to people already fairly well set up.