Making profit on betting exchange
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mklim_irlpl
- Posts: 91
- Joined: Sun Jul 21, 2013 5:56 pm
Does anyone know what's the percentage of Betfair customers, who make money on the exchange?
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mklim_irlpl
- Posts: 91
- Joined: Sun Jul 21, 2013 5:56 pm
It would be intresting data about betfair customers in terms of winners vs loosers. I suspect those who fail I would be the vast majority that donate the money to betfair and winners.
By the way, I found some numbers on wikipedia about Betfair income:
Revenue £387.0 million (2013)
Operating income £(69.0) million (2013)
Net income £(45.2) million (2013)
By the way, I found some numbers on wikipedia about Betfair income:
Revenue £387.0 million (2013)
Operating income £(69.0) million (2013)
Net income £(45.2) million (2013)
If you think about it £387m is commission so lets take off £100m for 'other' revenue (very generous) then lets apply a rate of 5%. That means £5.8bn was won on Betfair that financial year. But then the same amount was also lost as well on the other side. It's just the proportion that shifts.
I'd imagine most losers are the penny punters who bet, lose and never return. That probably distorts the figures quite a lot.
I'd imagine most losers are the penny punters who bet, lose and never return. That probably distorts the figures quite a lot.
Only 1 in 200 Betfair accounts are in long-term profit. But most of these accounts are not 'active' - 90% of people only stay a short-time and leave.
If you look at the 'active' accounts (people who stay for months or years and who are really putting in an effort), then 1 in 20 people will succeed at making a profit in the long-term. So 95% of people who try trading/punting over the long-run will fail.
If you look at the 'active' accounts (people who stay for months or years and who are really putting in an effort), then 1 in 20 people will succeed at making a profit in the long-term. So 95% of people who try trading/punting over the long-run will fail.
I'd imagine its very few long term winners. A figure of 200 used to be bandied around, not sure what % that would be. Even a knowledge of PC payers isn't going to tell the full story as many long term players fall into the boom-bust category - periods paying PC and periods not.
Negative minds see problems, positive minds opportunities.
One thing I have learnt over the years is that opportunities and problems are created equally but people are often trying so hard to avoid any problems they actually end up finding plenty of them and completely miss the opportunities.
Focusing on the losers merely brings out those characteristics. The real question you should be thinking is what I am doing different from the consistent winners? What are they doing? Why should they be better than me?
One thing I have learnt over the years is that opportunities and problems are created equally but people are often trying so hard to avoid any problems they actually end up finding plenty of them and completely miss the opportunities.
Focusing on the losers merely brings out those characteristics. The real question you should be thinking is what I am doing different from the consistent winners? What are they doing? Why should they be better than me?
Agree, when i first stated trading i was losing most of the time and it gives you negative thoughts about your ability to trade.Euler wrote:Negative minds see problems, positive minds opportunities.
One thing I have learnt over the years is that opportunities and problems are created equally but people are often trying so hard to avoid any problems they actually end up finding plenty of them and completely miss the opportunities.
Focusing on the losers merely brings out those characteristics. The real question you should be thinking is what I am doing different from the consistent winners? What are they doing? Why should they be better than me?
I then started putting my postions in the safe zone from were the market was trading, i only got the odd trade per hour but most of them were winning trades and then i started to be more positive, as i've got more positive i'v started trading more and more and slowly increased the amount of money made.
That's a carbon copy of how I went from small to enormous sums.
I think people forget I've also been at the bottom of the ladder (excuse the pun). I didn't have a clue what was going on but gradually worked it all out and became much more skilled at doing it.
That's while I'll always be optimistic because I came right from the bottom and experienced the same things as everybody else and came through it.
I was also a big sceptic on short term trading, but now I have a full understand of it, I feel a little embarrassed by some of the comments I made many years ago. The biggest thing I've learnt since being on Betfair is how to take and manage risk. It's really changed my outlook on everything I do.
I think people forget I've also been at the bottom of the ladder (excuse the pun). I didn't have a clue what was going on but gradually worked it all out and became much more skilled at doing it.
That's while I'll always be optimistic because I came right from the bottom and experienced the same things as everybody else and came through it.
I was also a big sceptic on short term trading, but now I have a full understand of it, I feel a little embarrassed by some of the comments I made many years ago. The biggest thing I've learnt since being on Betfair is how to take and manage risk. It's really changed my outlook on everything I do.