Is moving to Malta for sports trading too risky?

[Vaduz]

Hi,
I’m profitable in tennis and football trading, and I could potentially make around €2–3k/month, but I need the liquidity of Betfair.com, which I can’t access in my country.

Do you think moving to Malta is a good idea, or is it too risky?
For example, what are the chances that Betfair.com would close my account if I fully respect their rules?

If I start with a 3-month Airbnb stay, how long would it take from the day I arrive until I can use Betfair.com normally?

Is anyone else in the same situation as me?
Thanks.

[iambic_pentameter]

"...and I could potentially make around €2–3k/month"

Before you even think about moving to another country, are you actually making that or not?

Making that move is stressful enough without putting pressure on yourself to 'potentially' hit an income goal.

As a minimum, you should have 6 months living costs in the bank as an emergency.

Best of luck,

Iambic.

[Vaduz]

"...and I could potentially make around €2–3k/month"

Before you even think about moving to another country, are you actually making that or not?

Making that move is stressful enough without putting pressure on yourself to 'potentially' hit an income goal.

As a minimum, you should have 6 months living costs in the bank as an emergency.

Best of luck,

Iambic.

Thanks for the reply.
Right now I’m making around 500/month because on Betfair.it I can’t trade many matches due to the lack of liquidity in the market, and also because I’m not a full-time trader at the moment. But my percentages are good, so I’m considering it.

[Mastermind]

Maybe I can help, I moved five years ago from Germany to the UK.
To use Betfair you need to have "Proof of ID", which you have to send online to Berfair before they open your account.
I doubt that you have this prrof of ID with renting an Airbnb.
So you have to consider how long it need to get physical a sheet of paper in your hand that you LIVE on Malta.

Thats the first point and it could be weeks.

It means, renting an Airbnb is maybe the first step, but you have to have an address which you are then registered to live on Malta.
Don´t underestimate the time for this problem to get solved.

Kind regards,
Mastermind

[Vaduz]

Ok, thank you very much.
What about the risk of having the account closed if I operate according to the rules? Is it possible to diversify across exchanges to minimize the risk? For example, by also using sharp bookmakers and other high-liquidity exchanges.
Unfortunately with Brecut regulation I can't consider UK

[jamesedwards]

Just a consideration...

Are you taking or offering? If you are offering then the illiquidity and therefore inefficiencies of the .it platform could be the very reason you are profitable.

It's easier to make money in a market trading at 1.65 - 1.68 than it is in a market that is 1.66 - 1.67.

z172.jpg

[Vaduz]

Just a consideration...

Are you taking or offering? If you are offering then the illiquidity and therefore inefficiencies of the .it platform could be the very reason you are profitable.

It's easier to make money in a market trading at 1.65 - 1.68 than it is in a market that is 1.66 - 1.67.


z172.jpg

I’ve always taken it… yeah maybe offering in small markets is an opportunity, but it’s a different process

[ForFolksSake]

Ok, thank you very much.
What about the risk of having the account closed if I operate according to the rules? Is it possible to diversify across exchanges to minimize the risk? For example, by also using sharp bookmakers and other high-liquidity exchanges.
Unfortunately with Brecut regulation I can't consider UK

Unfortunately with Brecut regulation I can't consider UK

It's easier than ever since Brexit - only problem is everything is getting really expensive here and the weathe is

You could apply for a long-term visa - 3.8 million long-term visas have been issued since Brexit

https://www.gov.uk/browse/visas-immigration

[Vaduz]

Has anyone moved abroad in europe to be able to use Betfair.com and can share their experience?

[Kai]

Drop me a PM with your email if you want and I'd be happy to share some of my experiences.

[eightbo]

Has anyone moved abroad in europe to be able to use Betfair.com and can share their experience?

yes i traded full time a year at home at my parents for proof of concept (proven track record) before leaving my home country.

then i flew out to live with another greyhound trader in Czechia — i helped teach him a few things in exchange for $0 rent to test if I could still make income under a bit more pressure (packing a bag with intention to not come back felt like a big deal at the time)

my results were always quite volatile and I done my coconuts on several occasions being away from home, but you find a way through if you have to. my last 4 days P&L on here is more than 1 year of manual labour grind in a warehouse when I was younger... if you have a dream chase it. if you have any modicum of risk management paired with a consistent long-term P&L you'll be fine.  plus over time you'll only get better as edges are pretty easy to discover if you're in the markets all day every day

i moved to spain after a few months in Czechia but they wanted to tax gambling income so I moved to Malta for 4.5yrs and it was great, although being in Australia now I would say it really takes the cake here for long-term stays. could see myself settling down here but that wasn't necessarily true for Malta, which feels more like a holiday destination.

As long as you have a bit of cash behind you to cover a few months outgoings you should be sweet. Worst case if it all went Pete Tong you could always just hop on ryanair back to another major eu city for peanuts. Think I paid 14eur Malta to Bristol once, how's that for a value bet

set a reminder for 3 months and let us know how you get on if you ever make the switch would be an interesting read