The days of “bookies” being small shops with blocked out glass fronts, full of cloth-capped men pounding up and down the smoke-filled room between the board prices and the bookies stranieri Sporting Life while armed with their betting slips and complimentary pencils, are well gone.
They are now mostly well-furnished and nicely decorated shops with clear glass between those on the inside and those on the outside looking in. And, of course, smoking is a thing of the past. Nerves now have to be calmed with a cup of tea or coffee from the vending machines.
And the clientele has changed as well. Horror upon horrors… women go in them now! And men in smart suits too! But, of course, there’s actually no need to frequent the “bookies” anymore, thanks to the internet with all major bookmakers having their own online facilities.
This, however, is not all that’s changed. With the advent of the betting “exchanges” like Betfair and Betdaq the facility is there now to “trade in play” and to “Lay” a horse (bet on it to lose) rather than back it to win.
There is also a greater array of bets to be had now as well. For example in the football markets where you can bet on anything from the actual result to the length of the grass at full-time! (Well, not quite… but almost!)
And then, of course, there is Forex – the facility to bet on the foreign exchanges, so that everyone now has the chance to act and feel like a champagne-charlie from the city.
These changes have, to a very large extent, swept away the stigma of gambling with people from right across the social spectrum now willing to have a punt on this and that.
But I also believe that some of these changes have made it easier to make a second (or even primary) income from betting. And with all betting income being tax-free the attraction is obvious. With the right system or advice you can be earning well and making a greater, and often more immediate, return on your investment than you can anywhere else, especially if you can only start with small amounts. And, of course, you can work from home.
But making it easier is not the same as making it easy!
It took me two years to make it as a pro with a lot of mistakes made on the way. But I am currently testing a system I have devised for ‘lay betting’ on horses. In the first month on trial I turned £500 into £898.04 which is an impressive profit of 79.61%. Where else could you do that?
But without years of experience, the right betting system and/or advice from professional tipsters is paramount and there’s no shortage of them willing to pass on their secrets for a price. But… and there is a “but”… there are a lot of crooks out there that will sell you rubbish and these can seriously damage your wealth.
So when trawling the internet how do you recognise the good from the bad and the downright ugly?
Well, there are just two ways. One is “experience” which, as everyone knows, you can’t buy or learn from a book. Experience comes only from… well, experience!
The second is to follow a good betting site that will guide you through the pitfalls and lead you to the right system or tipster that suits your style and preferences. They can’t promise they’ll make you a fortune but they can certainly tilt the odds in your favour and as sure as heck save you losing one!
The next step is to differentiate between “betting” (as an investment) and “gambling” (an expensive habit). Again, this education has to come from a trusted source but it is imperative that you learn very quickly the discipline required to be a “sports investor” rather than a gambler.
You need to learn how to remove the emotion from betting, how to size your bets based on your ‘betting bank’, how to be disciplined, how to maximise your profits from ‘compounding’, what’s an acceptable ‘strike rate’, how to ‘trade in play’, how to ‘lay’ rather than ‘back’, and much more besides.