The Bank and Mindset

Trading profitably on a betting exchange is achieved by consistently applying effective strategies over the long term. This is not a get rich quick scheme. To make money from this then you have focus on long term slow steady growth. By long term you need to think in years.

At the start you need to establish a bank, this can be whatever you are able to commit and potentially willing to write off if everything goes pear shaped. Something in the region of £500-1000 is a good start.

Next step is to divide your bank into points, the most common way is to divide the bank by 100, i.e. if you have a bank of £500 then 1 point = £5. As you bank grows then so will the size of a point. Any single match should never be risking more than 1 point [bear in mind that if you’re laying then the liability can be considerably less than your stake, for odds under £2, or considerably higher, if the odds are over £2 (not generally a good idea)].

If you can make 10 points profit per month, then you can double the size of your bank in 7-8 months. Imagine the potential if you continue to do that for several years.

Keep meticulous records of all trades, this will help to highlight which of your strategies are profitable and which are not. Remember, this is a long-term process and you need to monitor strategies over a period of months and ensure you are consistent in the way you play them.

There will always be losers, they’re impossible to avoid. You have to accept it and move on. Don’t get frustrated and start chasing lost money with impulse bets, that is a trait of a gambler not a trader.