As someone who has done this themselves my biggest piece of advice is there is more money to be made putting in the hours to study the markets available to bet on and find an edge than there is putting in the hours to study the actual form of players/horses/teams
Professional Punters
- Thread starter Angus Young
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Yeah +1 for the bankroll comment, you'd need to be earning 500% ROI to clip $75k for a year, and $75k isn't worth giving up full time employment for. Also if you're living off that $75k then your bankroll stays at $15k, so it's 500% ROI each year to sustain that.
If you had a $150k bankroll it may be feasible to chase 50% ROI, but 500% ROI is incredibly unrealistic.
I'd go back to work and treat it as a part time thing. If you can build your bankroll to $100k while employed then think about quitting.
If you had a $150k bankroll it may be feasible to chase 50% ROI, but 500% ROI is incredibly unrealistic.
I'd go back to work and treat it as a part time thing. If you can build your bankroll to $100k while employed then think about quitting.
- Mar 27, 2018
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I don't think you should think about the ROI like that.
You can have a $15K bankroll, but you could have a really high volume of bets every week where you might have $5K as a total outlay.
- Jun 13, 2016
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Start studying the NBA.
Great combination of...
Lots of events.
High liquidity.
Significant market movement.
- Aug 4, 2016
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Variance can take care of $15k very quickly though.
- Jul 23, 2010
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what percentage do you need to win at to pay rent on a basic 1 or 2br apartment turning over $5k a week?
- Mar 27, 2018
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i don't follow ?
I was just making the point that you can have a $15K bankroll, but you can have a total outlay of $250-$300K over the course of a year so to achieve a goal of $75K the ROI is not that out of sight.
- Jul 23, 2010
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the point is you have to be winning at a decent rate on a tiny bankroll just to cover basic expenses.
25% POT surely isn’t sustainable.
25% POT surely isn’t sustainable.
- Aug 4, 2016
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The word was the Dr. Nick operation ran at about 30% long term. That’s the operation that moved markets more than anyone else in modern Australian wagering. Most pros I’ve spoken to on track or at things like betfair functions generally say they run at 7-10%, but are always looking at ways to increase volume and maintain that %.
Some more specialist guys can run at a bigger PoT, but that comes with less bets and bigger stakes. If you want to take that approach, variance can take care of a smaller bank very quickly.
greyhound punter
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- Feb 1, 2023
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- #685
Ive decided to take the plunge and turn pro myself.
Living at home so it is easier i guess.
Will keep everyone informed.
Living at home so it is easier i guess.
Will keep everyone informed.
- Jun 16, 2018
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What's your bankroll?
greyhound punter
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- Feb 1, 2023
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- #687
$2000
Figure if i can make $20 a day I should be pretty sweet.
Enough to get a pepsi max and a pie from the bakery and maybe a flutter on the pokies.
Figure if i can make $20 a day I should be pretty sweet.
Enough to get a pepsi max and a pie from the bakery and maybe a flutter on the pokies.
not sure if serious
- Jul 23, 2010
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before we go any further… what’s your bankroll
- Jun 13, 2016
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Sounds like its a sausage rollbefore we go any further… what’s your bankroll
The racing Pro's bet in the thousands per bet risking 1-2% , Hence the big bankrolls and limited opportunities . Your not going to get the turnover on small banks to do anything other than make pocket money .
So you dont mean pro, you mean make a profit. GL
Macca180
Club Legend
Good read this thread.
Don't know anyone that has made big coin from gambling.
Don't know anyone that has made big coin from gambling.
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You can churn out a consistent profit as a side hustle but going legitimately pro is probably a bridge too far with how quick they ban and how much juice they suck out of the market
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Wouldn't say "easily" when 99% of people dont but yeah even if you nail 1 sport, can it make a salary? Probably not.
Even the lifestyle. People envision just watching sport all day and chilling out but you'd be living bet to bet stressing about referee decisions. **** that
- Sep 22, 2011
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Knowing about the sport is actually secondary to success.
Most important is your bankroll, your staking and knowing precisely how probability, value, expected value and market percentages work.
There’s so much data out there these days that anybody can study a sport - you don’t need to be a crazy savant who knows every inch of a sport backwards - although it doesn’t hurt.
Successful betting is all about finding value and only betting when you can get it. That is infinitesimally more difficult these days due to how sharp the overall market is, and how high market percentages are thanks to taxes and fees on betting.
I would say the unfortunate reality for anybody setting out now is simple: you’re not going to make it.
David Walsh, one of (if not the) most successful punters in Australian history says this openly - he was very lucky, particularly regarding when he started. As he says “you couldn’t be me these days” - the market is just too sharp.
20% POC tax on Victorian racing. As punters our days are numbered. I don't care how good you are no one is beating 150% markets. Initially bigger corps will run small corps out betting better percentages. Won't even need employees to run a book that's 150%, AI will do that.
- Jun 16, 2018
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I'm not necessarily disagreeing with you however here is what I can share from my own experience.
I keep track of my punting on a spreadsheet and have been doing so for three years now ('23 will be the fourth year).
I am up on AFL in that time and in '21 and '22 finished the season very much in the black.
On every other sport I am at best slightly down, and on soccer in particular I am down bigtime.
AFL is the only sport I follow closely enough to feel like I have any kind of edge.
The rest is straight up mug punting i.e. putting a few dollars on a game here, a fight there, and so on.
I don't mind losing (overall) on the other sports because it is just for fun and I only bet small amounts.
If I don't have at least a couple of dollars on a game or a fight or an F1 race I just don't care enough to watch.
It could be that if I actually tried to pay attention to the non-AFL sports maybe I could do better.
However I honestly believe my knowledge of AFL (along with other factors) is what allows me to actually win on it.
Then again, I could end '23 massively in the hole on AFL as well, I might not have any edge after all.
Only time will tell, I suppose.
