I’m not going to say emphatically that there’s no way of earning a living on the betting exchanges, I’d be a fool to say that and it would look like sour grapes because I’d failed to make any money. No, I wouldn’t say it is impossible to earn a living on the betting exchanges, but over 5 years I went from thinking it looked too easy to financial meltdown and depression. I just wish I could have found an article like this, but in those days the betting 토토사이트 exchange concept was new and nobody had any substantial experience to share with others. All there seemed to be was a barrage of systems and tipsters telling us that now we could all be like the bookies…and had you ever seen a poor bookmaker?
It took me a while to grasp the concept of the betting exchange; well to be honest I was completely new to gambling. I’d never gambled money, not even slot machines. It just didn’t interest me. I remember as a child spending a lot of time in working men’s clubs where I’d practise with a brass band, often up to 4 times a week. In those days it was only private clubs that could have the big payout machines. I used to see mostly the same people week after week pushing a fortune into the damn things. It just seemed crazy to me. However, many years later I got to know a professional “slotter” who lived in a new house, owned a new BMW and had no debt all through playing slot machines! The difference was, though, that he was working to a carefully worked out formula and only playing on particular machines that met certain strict criteria. He also worked hard at it, travelling the length and breadth of the country looking for the right machines and when he found them fearing for his health and safety as he went about his work. You’re not entirely welcome when you suddenly appear in a local community pub and empty the fruit machine of all their money!
I realised at this early stage though that I needed to work systematically to a formula and only bet when my strict criteria was met. I was looking for a small niche that I could exploit. I’d then have my own cash-making machine that I could switch on and off as I chose. Earning a living on the betting exchanges is such an attractive idea. From the comfort of you own home, or anywhere else with Internet and a laptop, you can quietly and simply make a lot of money and it’s tax-free. I’d previously looked into and had indeed tried many other business opportunities like MLM, running a vitamin and mineral website, promoting holidays etc. and they all seemed, by comparison, so laborious. Not only having to pay for advertising, submit to all the search engines and directories, but also to pack stuff up and sent it out to people.
The betting exchanges do seem the fairer gambling option (if you’re familiar with them then skip to the next paragraph). The exchange matches up a backer with a layer, someone who thinks a horse will win with someone who thinks it won’t. The market agrees the price on a pure and simple supply and demand basis. If a horse looks like it’s a good winning bet there won’t be so many people prepared to oppose it, this means the backer will have to take what price they can get, which will be low. However, some layers are still prepared to offer the backer a bit more, they’re so desperate to get their bet matched up. But their money is quickly gobbled up and then backers have to be prepared to take lower prices again. Mind you, if the horse then starts to display worrying signs down at the start I.e. it’s sweating up, or won’t go into the stalls or, even worse, runs off delaying the race and wasting precious energy. All of a sudden it’s not such a sure fire bet and new backers will demand better prices from the layers, who will certainly oblige now they’re even more convinced that the horse will lose. The price starts to drifts out. Incidentally, the opposite of drifting out is steaming in; this is exactly the same but in reverse. What’s in it for the betting exchange? Well the exchange takes a commission on the winning outcome. So if you’re the layer and the horse loses you take the backers stake minus the betting exchange commission, if the horse wins the race the layer pays out to the backer and the backer’s account is debited for the commission. The commission works on a set percentage of the winnings, so the exchange make more when the horse wins, but because the exchange gets paid something whatever the outcome they’re not bothered if you’re too successful. You’re not going to get your account closed unless the exchange spot suspicious patterns of betting which could indicate something more serious.