Rather unusually, there is no FTL interest in the Monday night games, so we can wrap up the weekend round a little earlier than usual. Once again, the entrants overall were down on the round, but only by 9.89 points, and more entries were actually in profit than deficit. Conclusive proof that weekends are easier than the midweek rounds :)
I was lucky or let's better say hard working to get again a great job. For me it's clear that not even the best sportstrader can earn that much money in the long term. Beside I will have less stress, pension fund, more holidays and a social life. Now I know why Sultan was irritated when I told him that I quited a great job to be a sportstrader... Honestly it was one of the most stupid decisions I made. At least I could correct this mistake. The life as trader is everything, but not easy (99% are not successful!) and not well paid neither (when you consider the stress, the missed holidays and so on). The lesson I made was hard, but helpful.Great news that Brulati has got back onto the career ladder. It's not something to be thrown away lightly, although I can understand why people would have been tempted in the pre-Premium Charge days.
The introduction of the PC has clearly made a difference, and I know from my own experience that the markets are a lot more efficient these days than they were ten years ago. Brulati also wrote:
In the end only platforms like Betfair or betting companies make profit. There is no added value in trading sportsmarkets. If two people make a bet, one will win and the other one will lose. Over long term both will lose, because Betfair (and the other companies) takes the margin. In the beginning "only" 6.5%, later when you are lucky and a bit successful more and more. Perhaps there are small exceptions (for example Sultan?!) which can be successful for a short time period. Latest with a premium charge of 60% also these people have no realistic chance to make a decent income. I think this is the main reason why Sultan will quit...Unfortunately, as I wrote yesterday, markets change and edges can vanish overnight. While there are still opportunities when trading true trading sports in-play, they are fewer and farther between now. An edge that existed for several years can vanish overnight, for example if court/pitch-siders decide to show up.
It doesn't mean that there was never an edge - it simply means that the markets adapted. It's highly improbable that the Super Premium threshold would be reached if one didn't have an edge, certainly not from a starting deposit of less than £100!
Mark Iverson exploited inefficiencies in certainly the cricket and NFL markets, (we both had different strategies for the latter, but both made money), but Mark, like many others, has found it harder / slower going once the Super PC is hit. Slow is fine if you are part-time though, but at some point your time should have more value.
Betting is a fun hobby, albeit frustrating and challenging at times, but I can only imagine how stressful it must be if you are relying on it to generate an income. Even if you have the skill to identify an edge, you know that someone else will sooner or later come along with the same strategy. Make hay (in your spare time) while the sun shines, and the best of luck to Brulati in his future endeavours.