Newbie Question re Bank and Marketing Preferences

DeepCDiver

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A couple of questions.

- At what point do you guys start taking your profits? Specifically, do you just leave the profits to accumulate to £500, £1000, £2000 and then use that as your bank with all future profits supplementing your monthly income or going towards whatever project you have going or do you take a percentage of your profits from month 1 and use that to supplement your income. I guess the crux of what I'm asking for is how big a bank do you need to maintain on a day to day basis (leaving aside big events like Cheltenham where you might what to increase it for that week).

- When you sign up for a new bookie there is almost always a marketing preference question. As a general rule I opt out of all communications because I don't want my details passed on to 3rd parties and don't want regular "spam" updates from the company I'm signing up with. The question is, if I select the no communication options - will this mean I miss reload offers or new offers targetted at me?

Thanks in advance.
 

Jon

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A couple of questions.

- At what point do you guys start taking your profits? Specifically, do you just leave the profits to accumulate to £500, £1000, £2000 and then use that as your bank with all future profits supplementing your monthly income or going towards whatever project you have going or do you take a percentage of your profits from month 1 and use that to supplement your income. I guess the crux of what I'm asking for is how big a bank do you need to maintain on a day to day basis (leaving aside big events like Cheltenham where you might what to increase it for that week).

- When you sign up for a new bookie there is almost always a marketing preference question. As a general rule I opt out of all communications because I don't want my details passed on to 3rd parties and don't want regular "spam" updates from the company I'm signing up with. The question is, if I select the no communication options - will this mean I miss reload offers or new offers targetted at me?

Thanks in advance.
I got to £3000 before I started taking a profit off the top

In terms of communications you can always opt out as the reload offers will be listed on PA or OM anyway the only thing you might miss out on are personalised offers such as free spins on your birthday etc
 
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homie

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I would stay in the marketing campaigns. Especially with casinos. I get a quite a few free spins and bonuses that way. Set up a specific email if you don't want them cluttering your inbox as they will send quite a lot. It doesn't seem to have generated any extra spam from unrelated companies.

I like to keep a bank of £2000 in the exchanges and a couple of bets worth in my main bookies.
 
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Castro

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Ive only been doing this for just under a month but ive hit it fairly hard with a big-ish bankroll. Ive put in about £700 and am nearly £400 up now I think. Id like to start clawing back a little a month at some point, it wont build bank as quickly but if you need or want the money for something else dont let it stop you.

Ultimately it shouldnt be a problem for you to get to the point where you make say £400 a month you can withdraw half and still increase exchange balance by £200 a month. In a year or less you'll have the £2000 odd in exchanges lile Homie above and could switch to banking your whole profit every month if you wanted! :)
 
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emmalou

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Ah -I’m so glad someone had asked this question as I was wondering myself at what point I can start withdrawing money. I think I’ve put in £90 so far, and although PA’s profit tracker says I’ve made £110 I don’t feel like I have! I guess because as soon as you have bets on your balances look quite meagre so it’ hard to have a real idea of how much you have made.

I was wondering when I can start taking profit out, as I don’t have enough in my accounts to cover liabilities for more than a couple of bets at a time at the moment. So it’s slow progress as I don’t really want to put in any more cash at this point.

Guess I need to persevere!
 

Jon

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Ah -I’m so glad someone had asked this question as I was wondering myself at what point I can start withdrawing money. I think I’ve put in £90 so far, and although PA’s profit tracker says I’ve made £110 I don’t feel like I have! I guess because as soon as you have bets on your balances look quite meagre so it’ hard to have a real idea of how much you have made.

I was wondering when I can start taking profit out, as I don’t have enough in my accounts to cover liabilities for more than a couple of bets at a time at the moment. So it’s slow progress as I don’t really want to put in any more cash at this point.

Guess I need to persevere!
You can start taking money out whenever you want :) there aren’t any hard or fast rules about it!
 

emmalou

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You can start taking money out whenever you want :) there aren’t any hard or fast rules about it!
No, I know - it’s just interesting to read how much big earners like yourself are building up before taking money out. I’d imagined that I’d be able to have an actual income from it straight away but am seeing that I need to build a decent amount in the exchange accounts to comfortably cover bet liabilities before I take any out. I’m tending to take the money out when the bookie wins - and either use that for the next sign up offer, or move it to the exchange. In time, when I have a comfortable base I guess I’ll be able to take that out as profit.

I think I’ll build up a base of £200-£300 and then see how that goes. I’m not seeing myself as a full-on matched better. Just enough to earn a couple of hundred extra a month that I can put towards holidays and other nice-to-haves!

Anyway, it’s fun to do so worth dabbling! And if and when I get bored I can can just take it all out!
 
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DeepCDiver

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Ah -I’m so glad someone had asked this question as I was wondering myself at what point I can start withdrawing money. I think I’ve put in £90 so far, and although PA’s profit tracker says I’ve made £110 I don’t feel like I have! I guess because as soon as you have bets on your balances look quite meagre so it’ hard to have a real idea of how much you have made.
I couldn't really get on with PA's profit tracker as it always seems to be wrong (probably because I was loading the profits reported on Betfair and the bookie site with each bet). Betfair shows the profit of each bet before commission!

In the end I created my own spreadsheet with the following headings columns:


BetLay
Date PlacedEvent DateTimeBookieTypeStakeEventBetWinningsLossesExchangeStakeBetWinningsLossesCommisionProfit/LossRunning Total
1/32/314:00BetBig100FB5.00CheltHorsey100FTSE1003.59Lay Horsey13.5900+3.59+19.48

The bet type is QB=Qualifying Bet, FB=Free Bet, RFB=Risk Free Bet, BST=Boost. You can then see immediately what your running profit is.

I also have another sheet to track where money is when I withdraw and deposit. It all takes a little longer to complete but if I don't do it I know it'll turn into a mess when I'm putting several bets on every day.
 

emmalou

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I couldn't really get on with PA's profit tracker as it always seems to be wrong (probably because I was loading the profits reported on Betfair and the bookie site with each bet). Betfair shows the profit of each bet before commission!

In the end I created my own spreadsheet with the following headings columns:


BetLay
Date PlacedEvent DateTimeBookieTypeStakeEventBetWinningsLossesExchangeStakeBetWinningsLossesCommisionProfit/LossRunning Total
1/32/314:00BetBig100FB5.00CheltHorsey100FTSE1003.59Lay Horsey13.5900+3.59+19.48

The bet type is QB=Qualifying Bet, FB=Free Bet, RFB=Risk Free Bet, BST=Boost. You can then see immediately what your running profit is.

I also have another sheet to track where money is when I withdraw and deposit. It all takes a little longer to complete but if I don't do it I know it'll turn into a mess when I'm putting several bets on every day.
Thanks - yes the PA profit tracker and balance sheet isn’t really working for me either. They have a link to a google sheet that I was thinking about adapting, but I like yours too!
 

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