When people say "profit made over x years", I wonder how much they have actually extracted and how much is still in a float to try and make more.
I'm interested in extracting a profit to overpay the mortgage, I expect this will seriously limit my float and potential profit. (then again I am essentially getting 5% on the winnings by overpaying mortage).
Over 85% of my total profit has stayed in my float. I could never make the 4 figure sums I have been making each month without that float (and the very generous bookies ).
Originally Posted by bish
If you want to make 300-400 a month, then you should be able to do this with a limited float (say £1k), if you want to move on to make more, you will need to keep growing your float really.
That has been my experience anyway.
I'm looking to try and extract £100 a month so I should be alright... I'll post back and let you know how I get on!
A very good point, but its not unreasonable to count the float as profit, since it will be one hell of a payoff on the day you "retire".
Originally Posted by bish
I fully agree about reinvesting winnings or you will not get anywhere, its the number one reason i have seen people not get to making a lot from this. They make maybe £1k or £2k but just spend it, so then cant do bigger offers with wagering or needing big deposits or riskier casinos where the losses wouldnt matter as its just numbers at that stage. They dont get to £3k+. That really is the big thing, you can start of with a tiny amount, just £100 would do, but you wont be able to make money without money.
Have a plan and stick to it
That just made me chuckle
Originally Posted by lazza_w
One thing i learned a long time ago, you have to have money to make money. I know so many people that I have helped make 2-3,000 at casinos in a couple months. They used that money to buy things and then come back to me and say they have 500.00 to invest in busting sportsbook book bonuses. Well, if they only used 1000 of profits and kept 2000 available i could have helped, but 500 is much harder.
Back in the day you could take 200 and make about 3000 on casinos. that is much harder now.
Moral of the story, keep your money working for you. There are some really smart people on this forum that know how to make money. And there are many ways to do it. with many different bankroll sizes.
I know someone came to me 6 months ago with 50.00 only. Really came on some hard times. I offered them about 10 casinos with cash back offers. They doubled or tripled up on some and got cash back on some. Then they used that money to do that really safe casinos. Then had about 1000 bankroll. Then used that to start match betting. ALl the sudden they are at about 6000 bankroll. Heroes really helped out when I told him about a couple middles that hit. But still. He turned 50.00 into 6000 in 6 months. Now this is not the norm, but still, if he made his first 1500 and cashed out because he needed the money, he would be screwed and never had enough to get back into match betting.
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