I want to wish everyone a Happy New Year.
Over the past few days, I have been doing a bit of thinking and planning what I want to do for the coming year. Ideally, by the end of the year I want to make a profit, and average out a £1000 profit per month. This is my aim, whether it is achievable or pie in the sky is open to debate. I should know the answer by this time next year.
At the moment, I work full time, so I'm not under pressure to make it pay. Anything extra I make is a bonus. However, this doesn't mean to say I can be willy nilly and waste my money. I don't want to lose it.
At the moment, I will continue with the arbing. Whatever arb comes up, whether it is 0.5%, 0.7%, 1% or 2% plus I will take it. I'm only using bookies that I can see what the max stake is and I will be looking to exploit any arb fully. As wrapper (a user on arbforum) said:
a 1% arb is a good arb, all the 0.4% arbs you do all add up to a much bigger one, the problems you mention about limits affects everyone on here, you're no different, from reading your blog you are doing well, arbing is very time consuming, from my perspective i have to put in the hours, good arbs will always come along whilst you are searching and finding less lucrative ones, because you bankroll is small you probably don't want to do the lesser arbs as it ties up your cash, as your bankroll increases you will do them more
That is very good advice in my opinion. If my money isn't working for me, or i'm not looking for arbs then I'm not making any money. Look after the pennies and the pounds will look after themselves as the saying goes.
I am also aiming to give trading on Betfair another go. I have two or three ideas that I need to work on. When I started my blog, I was scalping the horse racing markets for a tick or so, and at the time I did make a profit but just thought I was running out of steam. I did make some notes and observations, and I've started to revisit these. I need to work out a trading plan before I go steaming in. Hopefully, this will add another income stream to the arbing adventure.
Thanks Abu,
ReplyDeleteI have just read your complete blog. Very impressive. Good luck with the arbing; it is something I am also interested in, and was led to your blog from Wrapper's comments.
Regards,
Damien
Hi Damien. Thanks for popping by. I wish you all the best with your arbing. If there is anything I can help with let me know.
ReplyDeleteHi Abu,
ReplyDeleteReal nice read! Like how you share your experiences,seriously great.
Stumbled into arbing/surebets about 7/8 years ago but back then the process was too complex. There was no software around to help out, and also there was not that much to read about it.
Couple of months ago I was thinking of surebets again and started to look around. Since then been reading a lot on forums, visited all websites regarding arbing and without having any practical experience yet, I think I understand the basic setup of arbing, and the risks involved. I am a warned man so to speak.
I have several questions which keep popping into my mind. For example, would it not be smarter to in general try to play small bets and try to stay under the radar just to keep your accounts alive, or are bookies just monitoring what kind of bets someone places and not in particular at the amounts someone bets?
Then what I also don't get is that some people say you need to start or play with a big bankroll. Obviously this would work perfectly fine if it wasn't for those bookies to limit you, and the fact certain bookies have limits. So what's the point in having a huge BR, to make a few 'big' hits? Doesn't this just increase the chance of being limited faster?
Another question I have is regarding the use of software. You mention you have only used free trials. Don't you think that if you would have used software, you would have been able to play better arbs? Of course it would have costed some money, but in your case you made around 1600 in 2 months, so if for example the software would have given you 10% extra return on your arbs, it would already have made you 60, taking into consideration that Rebelbetting (from what I have read the best software) is about 100 a month.
In your last post you talk about the fact you can't find enough arbs due to many of your accounts being limited, does this mean anyones arbing career lasts for as long as all his accounts are limited?
I think btw you did veryvery well, making almost 1600 in 2 months is just real nice!
Thanks,
Sal