How much can I make from Betfair Trading?
This is a question that you can’t easily answer as this depends on a number of factors like your personality and style of trading, your betting bank and management, and so on. So to answer this question, I will say it depends on you.
How much you want to make with this is in your hands alone. How much do you want to put into it? What you put into it is what you get. If you put just one hour into this a day, you cannot make the same as someone who trades 6 -8 hours a day. Your bank too is important. If you have only $100, you cannot be the same with someone who is trading with a bank of $5000.
That said, I want to say that the guy I first saw doing this told me he was averaging $350,000.00 (Three hundred and fifty thousand US dollars) yearly with this. In over six years he has gone ahead to earn over two million British Pounds. Yes you heard me correctly. And he started with an amount under one thousand which he compounded over the years to get to where he is now. So as you can see, the prospect is high. You have got to put in your efforts into this as this can pay big time.
How long does it take to become profitable in Betfair trading?
Just like above, it is difficult to answer this also because like I said it is an individual thing. Mr. A can be going in two weeks because of his personality. Maybe he is the type that will learn a thing and stick to it. Mr. B might learn the same thing and due to his personality, he is distracted. He will start with a plan and end up doing a different thing. A person can be going with this from two weeks to six months. Some will waste their time betting or laying outright (which is what I call gambling) before coming to embrace trading. So one’s attitude plays a big role here.
What size bank do I need to start Betfair trading?
This is a very important question which is on everyone’s mind. Starting at the exchange, I will advise a small amount of $100 to learn the ropes. Also it is good to start small so that if you make mistakes, it will not be costly. You can always deposit another amount if you should loose the first $100.
With trading, small amounts can turn to big amount very fast as you trade daily and make profits. The little amount of profits soon adds up. Imagine trading 20 times on Horse races in a day and earning even just $2 – $5 on average. Do this for 10 days and you already doubled your bank. I know someone who makes an average of $80 per trade and he trades at least 25 times a day.
What’s the best sport to trade?
You can trade in any sport on Betfair. For me the best sport to trade on is the sport you have so much interest in. You should also know one or two things about the sport. The best sport will depend on your trading style and your knowledge of a particular sport. For me I started with Football, but soon moved to Horse racing. For me Football lasting for 90 minutes is boring. I like the fact that I can trade a horse in five minutes. Some individual will tell you that they prefer the Football as it is slow and last a long time allowing them to make mistakes and still have a chance to correct it and come out of it unhurt because of the longer time. So it depends.
What’s your best advice to somebody who is new to Betfair trading?
For anyone interested in Bettfair trading I would suggest that you read and study as much as you can. Get some system books like the ones we have here and watch YouTube videos. Read so many Blogs such as this one. If possible, get someone who is already doing this to teach you.
Then start small with $4 – $5 bets and then move up as you gain experience and confidence.
Just about everyone who attempts Betfair trading will face one or two problems. You will definitely make mistake and learn from it all. Personally I lost about 3 banks because I attempted Gambling instead of Trading. I wish I had a Coach then.
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