Today's blog covers a subject I get asked about daily, what's involved when looking to create an income from betting.
Additionally, I will also go over my plans to develop a new resource designed to help people get started with this type of betting, but first let me cover some key points to create a clear understanding.
I define betting for a living as creating an amount of money from betting that can be withdrawn at regular intervals to cover living costs, with the target being to create enough to pay bills, put clothes on your back, food in the cupboard etc.
If you can lead a better life financially doing this than not betting for a living, this is an obvious bonus. The ultimate goal however is to make enough to cover your living expenses.
It's important to understand whatever you earn from your betting will always be a variable income, and it's not a salary where you get a set amount each month from your employer, or a monthly payment from a property you own and rent as an example.
As much as the returns over time should significantly improve in line with your skills and ability to consistently profit from betting, some months will definitely be better than others, and money made during the peaks will often need to stretch over the troughs.
To create this level of income from your betting it's also understood that an initial investment of money will be required. This amount of money needs to be managed very well obviously, and if you're throwing yourself in to betting full time you need enough in reserve to deal with the emotional roller coaster.
The less stressful route is a slow transition to going full time, as in make sure your bases are covered financially during this process so not everything depends on your immediate success. This will alleviate the pressure, and reduce desperate decision making.
The practice sessions you put in prior to considering doing this full time must show steady returns, your confidence in yourself and your ability should increase, and your discipline, record keeping, and clear plan of action is something that should have clarity.
This should be the case in every scenario, whether learning at a more relaxed pace, or if your life depended on it.
Putting your hard earned money on a horse to win or place, trade pre race or in play, create consistently profitable Dutch bets, back a football team to win, score a minimum amount of goals, or get the most amount corners, whatever the bet may be I guarantee your heart will be pumping if it's money that really matters, especially when betting professionally.
In comparison if you're 'punting' with money you can afford to lose and betting just for fun, it's without doubt exciting, but the intensity of the process is considerably less than when your lively hood depends on it.
This is an important factor to bear in mind when considering doing this full time.
It looks like I'm painting quite a bleak picture here, which knowing the way things can be taken I'm sure some of you will be thinking this is the case.
However, it is possible with the right attitude, tools, time, effort, and investment, to make a living full time from betting.
It's just a very different process than setting an amount of money into a system to run long term, as Exponential Bet systems have been set up to run from day dot.
An investment put in to grow over the years will go up and down over time along side your actual living money, and should definitely be an amount you can 100% afford to lose if things go tits up.
If you're betting for a living, and your total investment for example is enough for you to pay bills, eat, and basically function for six to twelve months, ideally more, then everything becomes a lot more serious.
Should that money run out due to poor bank management and betting decisions within the first a few months of going full time, then the game is up, and you're back to working doing the job you most likely hated and wanted to get away from, if they will take you back. Which means there is without doubt a more pressing sense of urgency when looking to bet for a living.
This can of course be a huge motivator to get things right, pay more attention to detail, and apply an increased discipline to your decisions. It's also a heavy pressure on your shoulders that can cause stress, which as we all know can have a knock on effect with poor decision making further down the line.
There is no easy route around these basics regardless of whether you have someone hand holding through the learning process, as you're still using money that means everything to you.
You're investing in yourself, you are the business, and if you don't produce you're back to square one.
This money in an ideal scenario will be an amount that you can afford to lose, and not affect your life if you fail at this new betting profession.
If you could invest in yourself and learn to bet for a living without the added burden of, if the pot of cash went south you're on your arse, this would obviously give you the breathing space to learn at your own pace, and not be tempted by rash or irrational decisions caused by stress and desperation to make money.
On the other hand if you're fully invested and it means everything to succeed, very often this can bring out amazing things in people. Often more than we understand, as it's easy to under deliver if you've a nice nest egg, as opposed to being hungry for the success which will drive most people to really hit the target.
I know first hand that on occasion when I've had a safety net in place I could have done a lot better with my productivity had I not had one, and when I've been thrown in at the deep end with my back to the wall I've fought a lot harder, and done much better overall than I initially expected.
There is a lot to be said for letting go of the comfort blanket and just going for it, but having the luxury of a cushion in place should things not go to plan is of course a more favorable way of learning any new profession, especially one that requires calmness and a cool head for decision making.
My advice here is to just make sure you don't ever put you and your family in a situation where you'll make yourself destitute, and unless you're confident you can make enough money betting for a living, just putting food on the table first and foremost has to take priority above all else.
All that said, it is possible to bet for a living, and I'm going to give help and advice for anyone wishing to pursue this.
It's something I have wanted to be more actively involved with since launching Exponential Bet, but time permitting and demands of everything else to do with running the site has meant it's just not been possible.
At one point I was nearly set up to go all guns blazing with a daily live stream covering betting for a living from my office.
I think in hindsight I'd actually found that type of tutelage a complete pain in the arse, and a huge distraction to concentrate on my own betting and trading. Which would have in turn suffered, so things have probably worked out for the best.
Whenever I've tested any new service with a live chat or stream running throughout the day, and there are loads out there, for example during the race card or a days football, all the members and moderators swapping comments and ideas, sending funny gifs or screenshots, questions about this and that, it's always a constant chitta chatter with notifications popping up every second, this does not appeal to me in any way.
It actually gets on my nerves, and I find it an annoying interference to my ability to think straight. The way I'll be setting up my service to learn how to bet for a living is based on exactly this, giving you the tools and information for you to make clear decisions without distraction.
This won't be a live chat or software that runs the bets for you, you're in control in your own space and time to make the bets and trades. I'll be providing my experience and examples of how you can achieve this.
I will set up a live stream from time to time for specific reasons, such as when I introduce anything new to the site that would benefit from a live tutorial, as it means all questions can be answered at once within a group environment. That's totally different than having a daily login to a chat room or stream.
After the recent release of Remote Dutch Betting and the JV System where I received hundreds of emails daily all asking the same valid questions, I quickly realized how poorly equipped I am to deal with such volumes, which means next time I'll be more prepared and a live environment like this will be an asset.
I can see real value in creating a stream or group for this type of service launch, as each question can be answered once within the thread, and then published to free up more time, and as we know time is quite literally money.
Before I go over my plan to introduce a focused approach to helping members bet for a living, let me explain why it's taken me longer than I expected.
The overwhelming majority of membership enquiries I received over the past couple of years have been requests for fully automated betting and trading, or either can I just do it for you.
It is a fact the majority of emails received have been regarding automated betting and trading. This is a very popular subject that a lot of people really want, and something I personally have a deep investment. It's part of my own betting and trading portfolio, and it will over the years prove to be a huge asset towards my overall financial goals.
Subsequently this has taken up all my time providing the automated betting services to members, and it's still very much early days in development with so much more to come working with Levelsoftware and Focus Ratings.
Manual vs Automated Betting will the title of my next blog post, as I want to discuss at length the pro's and con's of this, as it's relevant to explain why I'm adding these manual tools to help people get started full time betting from an income based perspective.
Exponential Bet was set up initially producing Dutch bets using the BSP Multiple section of Betfair.
If you don't know what this is and you're curious, here is the old page Betfair still have online: https://promo.betfair.com/betfairsp/FAQs_multiples.html
I've published a lot of content in the blog about BSP Multiples which you can catch up on.
Without going on a tangent, the point of mentioning BSP Multiple betting is that it produced incredibly high strike rates with solid annual steady growth.
The site was founded on this approach of building the bank gradually over each racing season, combining Dutch single bets in to a multiple for an SP odds return. My Dutch Guide demonstrated this approach, and the subscription service was very popular for these reasons.
However, when Betfair decommissioned the BSP Racing Multiples the service sadly came to an end, and I have to admit I miss it more than I thought I would.
The demand for automated betting and trading has taken over Exponential Bet, and the platform it's built on does in fact suit this to be fair.
Which leads me to explain my plans for betting for a living, which will be set up on a new domain and website that is tailor made to host the production of high quality video content and training material.
The website will be for members wishing to learn how to bet for a living, and have content created specifically for this, sharing the bets and trades I make, the tools I use, and how I run my day.
I can produce content a lot faster on this separate website, and manage the memberships more effectively.
Given that everything is going to be more hands on as it's a manual betting process, I need the best tools to translate this to members as quickly as possible in the most professional way I can. As I don't want this to interfere with my own betting, which is what I'll be sharing with members.
This is all coming from me, no third parties or partnerships, it's a site for me to share my video and written advice on how you can make money from your betting to live on.
It's not geared towards long term growth, or using automated software, this is all about making enough to pay the bills. How to set up and manage your bank and expectations for this.
The ETA for launch of this new website is February 2020, although after looking at the weather report for the first two months of next year I'll consider this given the bulk of my money is made from horse racing. However, I'll have a lot more information and the site online ahead of this.
I'll invite existing members of Exponential Bet who are currently active on older plans to access the new site, and anyone who's previously been a member will receive some promotional access. What's certain is that I only want people who have the time to learn, with the right attitude and motivation.
Having this new website to focus solely on an income based betting approach, and operate on a platform that's set up to host this type of content, will give me the ability to share information seamlessly.
As stated earlier, I'm not creating a community forum or chat room, although this will be added for specific aspects of the site to speed up learning. It will not be set up as a place for members and moderators to procrastinate all day long missing opportunities.
I want to give everyone involved something completely different than presently available, and have no barriers to the content creation with my time allocated to this a priority given it will benefit all members. Not sounding like I'm up my own arse here, but if I didn't believe in what I have in the pipeline what's the point.
One thing I learned over the past year and a bit since trying my best to accommodate the demand for automated betting, is the time I used to have for system creation and personal time to bet and trade for myself became less and less.
With this new set up I'm not creating a new job for myself, hence my emphasis on the fact this isn't just a chat room of shared ideas to consume everyone's time, and affect overall quality, instead I'm creating a detailed resource of betting and trading information for anyone looking to make a living from betting.
Exponential Bet and its current services will continue to progress and grow as previously reported, as I've a lot in the pipeline with Levelsoftware and Focus Ratings partnerships.
This new project is something I've wanted to launch for a long time, and it will coexist alongside Exponential Bet's long term investment stance, and add another string to the bow.
I hope this wets your appetite for what's to come, but has also given you some idea of what I have in store. 2020 is still the year I want to retire, and adding this new site will give me a lot to do in retirement.
As my definition of retirement is not floating around on an inflatable in my pool in the sun, although that is a pleasant experience, any longer than a few weeks of that would drive me crazy.
My definition of retirement is freedom, and having this extra creative freedom to share how I bet and trade for a living using a platform set up for this, will really give me something to get my teeth (not my bad tooth giving me grief at the moment obviously) stuck in to.
Exponential Bet over the course of 2020 will have all its automated services running like clockwork for members, while I run my daily bets and trades on the new site sharing my video content for anyone interested in betting for a living.
Okay, so just a quick request here. I know a lot of you will be interested in this, and also have questions about how any existing memberships translate across, or a long list of other completely valid questions.
However, at the time of finishing this blog post I've a jaw ache from a recent tooth extraction, so I'm calling it a night virtually after hitting publish, and tomorrow the betting is abysmal so I'm taking an actual day off.
If you write to me you'll get my auto respond reply which I apologize for as I hate those things as well, but I will get back to any emails asap over the course of the week from Tuesday onward. Typically within 24 hours, but it depends how many come through.
Feel free to write and ask me anything, but I'm just giving you a heads up as I need a proper rest day tomorrow, and I'm done for tonight.
Thanks for reading, there is plenty more to come on this subject over the weeks ahead, and also please look out for my next post on Manual vs Automated Betting.