Betfair Trading Full-time, How many bets? What sort of stakes?

We all know the dream, giving up your day job so you can trade full-time and thus have (in theory) more time with the family. But can that dream become a reality?

Let's say you want to live comfortably, the average UK salary is £27,000 (2018). So what sort of trading will you need to be making per day to achieve this, and what sort of strike rate will your strategy need?

Well. for starters trading in sports pays no tax and N.I. If you were earning that on a standard taxable job, really you would be taking home  £1,812 per month (£21,744pa). Thank you Mr tax man. But let's assume you want to take home the full wack at £2,250 per month. First, let's work out how much you need to be making per day to hit that figure.

Because some months are stupid and have 30 days instead of 28, let's divide the salary by 52 weeks to get £519.23 per week. Now let's go crazy and assume we trade every day (madmen).
519.23 divided into 7 days is 74.18, You need to be making £74 a day every day to make that sort of salary.

How many trades will I need?

If we are trading football, let's assume we average an achievable £5.00 returns per bet, which means we need to land 14 bets to make £75. But we have a conservative strike rate of 60% so really, we've laid 25 bets. Let's round that up to 30 bets to keep things tidy.

Is it achievable?

As far as football trading goes, finding 30 bets that meet your strategy criteria in the midweek is no easy task. Sure on the weekends, you may find 60+ on Saturday and 50+ on Sunday, but its still a pretty tall order. Of course, assuming your strategy scales well, you could just up the stakes to improve your returns.

So in short, yes it is achievable, but you need a decent sized bankroll. Of course the more bankroll you have the more of a 'salary' you can have.

If you are like me and you're just starting out. Be patient., you can lose so much money 'wanting it all now.'


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