#6: What Is It Like Being a Sports Trader? || INTERVIEWS WITH TRADEMATE SPORTS CUSTOMERS

This is our 6th interview in our series of interviews with Trademate Sports customers. Thanks to Jørn for sharing his sports trading journey with us. His interview has been translated into English. His original answers in Norwegian can be found further down. 

 Trademate Sports - A sports trading software

Trademate Sports - A sports trading software

WHAT IS YOUR EXPERIENCE IN SPORTS TRADING?

My experience with sports trading is that if one has the time and patience, it is a guaranteed source of income over time. The variance is higher the higher your odds range is. I’ve played on more than 10 bookies now and have been limited on the most of them. I have not made a great deal of money compared to the time spent, but that is mainly because my starting bankroll is too low. 

DO YOU HAVE ANY TIPS FOR NEWBIES IN SPORTS TRADING?

I would recommend beginners to save up some money before starting with sports trading. When first getting started, one should have a decent starting bankroll. Somewhere between $1000-$2000 would be a good place to start. I’ve made the most money on football, so I would recommend mainly sticking to football. Part of the reason behind this is that I have knowledge about which trades that are worth playing and which are not. The majority of good trades can be found in the so-called “low liquidity markets”. E.g. lower divisions in Norway. A lot of people recommend staying away from playing on these leagues because you get limited faster. I try to stay under the rader as long as possible, but I rarely decline a good trade even in the lower divisions. Start by putting in a couple of accumulators, so that the bookies will profile you as a losing player. After that, just place trades anywhere there is value, that’s my advice. There are so many bookies out there that it will take time to get limited on all of them. 

Keep your odds range between 1.60 - 4.50. To play 4.50 in odds, you should have an edge of 7%. Volum = long-term profits. So place as many trades as you possibly can. When there are many games on try to distribute your bankroll across as many trades as possible. Play edges as low as 1.5% to increase the volume during weekdays. Dedicate a couple of hours on the weekends when the majority of games are on and try to play through your entire bankroll on the different bookies.

ARE YOU BETTING THE SOFT OR THE SHARP BOOKS?

    I have only played on softs so far. Still not limited on a lot of bookies. 

    WHAT’S YOUR BANKROLL?

    My bankroll is about 45k NOK, as I have cashed out quite a bit. Making withdrawals costs in the form of fees. And it takes some time to get the withdrawals from some of the bookies. 

     

    HOW MANY TRADES DO YOU REGISTER ON AVERAGE IN A WEEK?

    I place around 100 trades per week during the season. 

     

    WHAT’S YOUR AVERAGE TURNOVER IN ONE WEEK, A MONTH?

    Slightly below 100k NOK per month

     

      HOW MANY HOURS ARE YOU SPENDING ON SPORTS TRADING IN ONE WEEK?

      Not sure, but it usually takes a couple of hours. I usually have the Trademate feed up, while I’m doing other things on my laptop. 

       

      WHAT’S YOUR FUND GROWTH PERCENTAGE?

      The fund growth goes up and down as I keep making withdrawals and deposits on different bookies, so it is not really representative for how much money I’ve made. My avg. ROI per bet is at 3.1% and I’ve played for almost a million NOK across 6750 trades. Including the bonuses, that adds up to a nice profit. I make more money on sports trading than having the money in the bank, so for me it is an easy choice. I do spend quite a bit of time on it, but then again I do think it is fun!

       

      DID YOU HAVE BAD RUNS? (WHAT HAS BEEN YOUR BIGGEST LOSS?)

      I’ve had bad-runs of 8-10k NOK (about $800-$1200). Nothing went the right way for a longer period of time. Then I had to reduce my stakes. When the trend turns around, I’ve made back what I lost quite fast by increasing my risk by increasing the stake size per trade. It swings both ways. After a good downswing there will always be an upswing and vice versa. You could keep your stakes flat or do as I and speculate a bit when the wind in the sails turn. My highest stake on a game was 2750 NOK ($350) on New York Yankees to win against Texas Rangers some time ago. The edge was more than 30%, 8 minutes before the game started. The odds dropped before the game started, but the Texas Rangers got an early lead. 6-0. The Yankees managed to pull it back to 6-5, but that was it. I would recommend staying away from large bets on low odds. I have burned myself multiple times doing so. Just stay away from 1.29 - 1.49 in odds. The value here is marginal and one has to place high stakes to get a good return. It is rarely worth it. To get in a 1,70 in odds is almost as easy/difficult to get inn as a 1.40 in odds. 

       

      WHY ARE YOU USING TRADEMATE SPORTS?

      I use Trademate Sports, because it is fun and to make money.

       

      WHAT DO YOU LIKE MOST ABOUT USING TRADEMATE SPORTS?

      What I like the most about Trademate Sports is the fact that it works. One can make a living from this with a high enough bankroll and turnover. It can be difficult to achieve on the soft bookies though. To make a living one would need a yearly turnover of 30 million NOK and an avg. ROI per bet of 2-3%, plus avoiding high fees. 

       

      INTERVIEW IN NORWEGIAN

       

      WHAT IS YOUR EXPERIENCE IN SPORTS TRADING?

      1. Min erfaring med Sports Trading er at dersom man har tiden og tålmodigheten, så er det en garantert inntektskilde på sikt.

      Variansen er høyere jo høyere oddsrange man spiller på. Jeg har spilt på over 10 bookies nå, og blitt limitert hos de fleste. Jeg har ikke tjent gode penger på dette i forhold til tiden jeg har lagt ned, men det er fordi bankrollen min er for lav.

      DO YOU HAVE ANY TIPS FOR NEWBIES IN SPORTS TRADING?

      2. Jeg vil anbefale nybegynnere å spare penger før man starter med sportstrading. Når man først skal sette i gang, så burde man ha en brukbar start-bankroll. Et sted mellom 10-15 000,- er fint å starte med. Jeg tjener mest på fotball, så jeg vil anbefale å holde seg mest til det. Noen av grunnene til det er fordi jeg har kjennskap til hvilke trades som er verdt å spille, og hva som ikke er så lurt. De fleste gode trades finnes på såkalte «low equity markets». Divisjoner langt nede som norsk breddefotball f. eks. Mange anbefaler at man holder seg unna å spille for mye på bredde, da dette gjør at man fortere blir limitert. Jeg prøver å holde meg under radaren så lenge det går, men takker sjeldent nei til en god trade på breddefotball. Start med å legg inn et par akkumulatorer, så bettingselskapene anser deg som en tapsspiller. Deretter kjør på med alt mulig hvor det finnes verdi, er mitt tips. Det er såpass mange bettingselskaper der ute at det tar tid å bli limitert hos alle. Hold oddsrangen til mellom 1,60 og 4,50. For å spille 4,50-oddsere bør man ha en edge på rundt 7%. Volum = long term profit. Sett så mange trades som mulig. Fordel din bankroll på så mange spill som mulig. Spill på helt ned til 1,5% edge for å få opp volumet i hverdager. Sett av et par timer i helgene hvor det er mest aktivitet, og prøv å få tømt saldoen på kontoene dine.

      ARE YOU BETTING THE SOFT OR THE SHARP BOOKS?

      3. Jeg har kun spilt på soft bookies så langt. Gjenstår å bli limitert hos flere selskaper enda.

      WHAT’S YOUR BANKROLL?

      4. Min bankroll er på rundt 45 000,-, da jeg har cashet ut en del. Man taper mye på uttak og avgifter. Og det tar tid å få uttakene gjennom hos noen bookies.

      HOW MANY TRADES DO YOU REGISTER ON AVERAGE IN A WEEK?

      5. Jeg setter rundt 100 trades i uka når det er sesong.

      WHAT’S YOUR AVERAGE TURNOVER IN ONE WEEK, A MONTH?

      6. I underkant av 100 000,- per måned

      HOW MANY HOURS ARE YOU SPENDING ON SPORTS TRADING IN ONE WEEK?

      7. Vet ikke, men det blir fort noen timer. Jeg har som regel trademate-feeden oppe, mens jeg gjør andre ting

      WHAT’S YOUR FUND GROWTH PERCENTAGE?

      8. Fund growthen går opp og ned ettersom jeg setter inn mer penger på ulike kontoer, så den er ikke representativ for hva jeg har tjent. Min ROI er på 3.1% og jeg har snart spilt for én million over 6750 trades. Med bonuser hos bookies, så blir det jo en liten sum i profit. Jeg tjener mer på sportstrading enn å ha pengene i banken, så for meg er det et lett valg. Jeg bruker jo en del tid på dette, men så er det jo morsomt og da!

      DID YOU HAVE BAD RUNS? (WHAT HAS BEEN YOUR BIGGEST LOSS?)

      9. Jeg har hatt badrun-streaks på 8K-10K. Ingenting gikk inn på en lengre periode. Da måtte jeg gå ned på innsatsen. Da tendensen starter å snu, så redder jeg inn det tapte ganske kjapt ved å øke risikoen ved å høyne innsatsen per trade. Flyten går begge veier. Etter en god downswing kommer det alltid en upswing og motsatt. Du må gjerne holde innsatsen flat, eller gjør som meg og spekuler litt i når viden i seilet snur. Høyeste innsats var 2750,- på New York Yankees to win mot Texas Rangers for litt siden. Her var edgen på over 30% 8 minutter før kampstart. Oddsen droppet oppskriftsmessig før start, men Texas Rangers fikk en tidlig ledelse; hele 6-0. Yankees klarte å hente inn til 6-5, men det ble med det. Jeg vil anbefale å styre unna store bets på lav odds. Her har jeg brent meg flere ganger. 1,29-1,49-oddsere er bare å styre unna. Marginal verdi her, og man må gå tungt inn for å få noe særlig avkastning. Det er sjeldent verdt det. Å få inn en 1,70-oddser er nesten like vanskelig/lett som en 1,40-oddser.

      WHY ARE YOU USING TRADEMATE SPORTS?

      10. Jeg bruker trademate sports fordi det er gøy og for å tjene penger.

      WHAT DO YOU LIKE MOST ABOUT USING TRADEMATE SPORTS?

      11. Det jeg liker best med trademate sports er det faktum at det funker. Man kan leve av dette om man har høy nok bankroll og turnover. Det kan være vanskelig å oppnå med soft bookies. For å leve av dette må man ha en turnover på 30 000 000 årlig og ROI på 2-3% og unngå høye fees.

      By Jørn

      If you would like to share your experiences with using Trademate, let us know via the chat :) It is possible to share your experiences anonymously as well. 

       

      #4: What Is It Like Being a Sports Trader? || Interviews with Trademate Sports Customers

      This is the 4th interview in our series of interviews with Trademate customers. Big thanks to Matias for sharing his answers!

       Being a sports trader

      Being a sports trader

       

      What is your experience in sports trading?

      Before signing up for Edgebet/Trademate Sports 13 months ago, I had literally no experience what so ever with sports trading. Up until October 2016, when the sharps were added, I had grown my initial $5000 to around $9000, even though having a really bad run the last 1000 trades. Meanwhile, I also experienced a bad run in poker, and ultimately decided to only focus on trading, so I added more funds to my overall trading account and was ready to take on the sharps. The first three months I ran terribly on the sharps, basically having an almost straight 45-degree downward graph. Luckily the softs treated me a whole lot better, so overall I broke about even. What I think is important to mention is that I knew little to nothing about trading the sharps, so I hadn’t developed any strategy or anything. I just took almost every trade that popped up. Although having a positive overall closing edge, it was not worth my time squeezing out ~1% without having a huge bankroll. During January I had almost emptied my Sportmarket account and was considering only trading softs for a while. Luckily I took some time trying to actually learn from my previous trades, and improve my ratio of +ev and –ev trades. Also, I began taking a lot of own trades where I used my experience gained over the past months and found a way to beat the closing line by a lot more than most of the trades I got by using Trademate Sports. This led to way more trades and thereby a lot more turnover and I took my Sportmarket account from ~$2000 in mid-January to ~$20000 over ~5000 trades. Unfortunately, the past few weeks been absolutely horrible and the combination of not trading very well, bad position sizing and running bad has shrunk the account by quite a bit.

       

      Do you have any tips for newbies in sports trading?

      That depends a lot on what your goals are. If you just want to have some extra money besides your job or something, the articles and videos on Trademate Sports is a good start. If sports trading is something you really are willing to spend some time on and potentially do for a living, I would try to get a broad understanding of trading and how the market works in general. This article, for instance, gave me some insight on how those who model sports are thinking and how the odds are created: (https://www.sbo.net/strategy/football-prediction-model-poisson-distribution/). While only trading on the softs in the beginning, I would open a Sportmarket account (or any similar service), just to observe and explore how the market actually looks like and works. The long-term goal should be to create an own strategy to beat the sharps by yourself, whether it’s by utilizing information from Trademate Sports and deploy your strategy, or create your own models so you don’t even need Trademate Sports. This probably means you should specialize on one sport, or maybe just one specific market in a sport. I wish I didn’t spend time trading basketball on sharps when I didn’t have a clue etc. (stupid Chinese basketball).

      Maybe it’s obvious to many but still: there are bots that will take any combination of bets that will result in a surebet (>100% payout), so you will never be able to a get a “straight up” edge that is big with the sharps. To have a, lets say, > 5% edge the odds would have to move, that’s why I would recommend trying to find your own strategies if you really are looking for the big money. 

       

      Are you betting the soft or the sharp books?

      Both, but I’ve had my main focus on the sharps. Usually, I have 1-3 softs, in addition to the “semi-soft ” sites, Betcris and 188/Roadbet. Still, have quite a few softs left, but probably will wait until most of the recommended football leagues restart before signing up for any new.

       

      What’s your bankroll?

      Enough to turn over an amount that potentially can make me some good money, yet not as big as I’d like.  

       

      How many trades do you register on average in a week?

      So far this year it’s somewhere between 250-300.

       

      What’s your average turnover in one week, a month?

      Depends how many games there are and the size of the bankroll. The first four months of the year it was $420 000 with sharps, with $180 000 of it being in April only.

       

      How many hours are you spending on sports trading in one week?

      Hard to tell, I spend a lot of time on the computer so I just have Trademate Sports in the background all the time. I do however spend maybe an hour or so a day just looking for certain things on Sportmarket.

       

      What’s your fund growth percentage?

      I can’t tell for sure anymore, because I “cleaned up” my bookmakers by removing the accounts I’d been limited on and added a bookmaker as a “bank” to not lower the balance. Of course the “active” function, which would have dealt with the issues, was added just a week or so after I did that (hehe). The growth percentage was over 100% when I removed them.

       

      Did you have bad runs? (What has been your biggest loss?)

      I touched upon some early bad runs earlier, which were some of the longest bad runs I’ve had. As we speak I’m on probably the worst run in terms of $ because my sizing has been bigger than ever and the bigger bets have not gone in my favour. The last 500 bets or so I’m stuck almost $10 000, which is frustrating, but I believe I can handle the swings pretty well.

       

      Why are you using Trademate Sports?

      Heard of it through Liqqa (Jonas Gjelstad's poker name) on a poker podcast, really liked it, and haven’t seen any reason to stop using it.

       

      What do you like most about using Trademate Sports?

      It’s easy to use, has most of the features I need (closing lines etc.), and there’s a good community if I need help or opinions.

       

      By Matias - Trademate Customer

      If you would like to share your experiences with using Trademate, let us know via the chat :) It is possible to share your experiences anonymously as well. 

      #3: What Is It Like Being a Sports Trader? — Interviews with Trademate Sports Customers

      This is the 3rd interview in our series of interviews with Trademate customers. Big thanks to Martin for sharing his answers!

       Trademate Sports - A sports trading software

      What is your experience with sports trading?

      Before I created my TM account back in late 2016 I had no experience in sports trading, since then I've learned a lot, but I still have a lot more to learn.

       

      Do you have any tips for newbies in sports trading?

      Know whether you are a person that can handle big swings/variance or not and adjust your presets accordingly. Playing too big of an odds range when you handle variance badly can be pretty tough, though don't let it get to you too bad as it'll turn around. I speak based on my own experience.

       

      Are you betting the soft or the sharp books?

      I have only been using softs so far and have about 4500 trades placed.

       

      What’s your bankroll?

      My current bankroll is about 100K NOK.

       

      How many trades do you register on average in a week?

      I think my average is around 200.

       

      What’s your average turnover in one week, a month?

      In a week my average turnover is about 50K NOK, in a month around 200K NOK.

       

      How many hours are you spending on sports trading in one week?

      It varies a lot, with weekends when I have nothing else going on it can get up to 12+ hours a day. During weekdays it's anywhere from 3 - 7 hours I'd say.

       

      What’s your fund growth percentage?

      My current fund growth percentage is about 172%

       

      Did you have bad runs? (What has been your biggest loss?

      I've had my share of bad runs, I started off with running complete trash for my first 1500 bets, but I stuck with it and it paid off eventually. My biggest loss was about 10K NOK in about 2 days. That was just after things started to go really well and I lost almost all my gains, that sucked.

       

      Why are you using Trademate Sports?

      I always liked sports betting, but I wasn't in it for the thrill of winning a ridiculous accumulator every now and then knowing that I was losing money in the long run. I have never understood how people see the fun in that, knowing that they were losers in the long run. I knew there had to be a way to be profitable with this, I just had no clue until I joined Trademate. I've now used Trademate pretty actively since the beginning of 2017 and I'm loving it.

       

      What do you like most about using Trademate Sports?

      The most fun days are obviously when you go on a nice run good. But what I really like is to watch the progress I see from month to month with Trademate.

       

      By Martin - Trademate Sports Customer

      If you would like to share your experiences with using Trademate, let us know via the chat :) 

      It is possible to share your experiences anonymously as well. 

      A Review of What You Get from Trademate Sports

      Hi, my name is Jan. I´ve been using the Trademate Sports software for quite a while now.  

      Today I want to do a review of the Trademate Sports product as I´m very convinced of the product and because I´m loving all the cool features the software has to offer.

      In this review I don’t want to focus on all the numbers, facts and figures or how much money you can earn ­by using Trademate as this really depends on your bankroll and volume of trades. Plus, I think there´s a good review concerning this at churchofbetting.

      In this review, I want to concentrate on the user interface in general and simply why I love using the TrademateSports software as a customer and as a sports trader. The software has many nice features I want to mention now because I really like them a lot.

      First, I’ll cover how I started using Trademate. I´ve been into sports betting for some years now. In my first beginnings, I was the typical small stake, high odds accumulator bettor. I´ve put together bet slips with lots of teams hoping one weekend I´m going to win the jackpot. Of course, this didn´t happen. After some time of losing money, I tried a couple of different strategies, like progressive staking ones, but I wasn´t happy with all of them. One and a half years ago I began to study Business Informatics and I got more interested in statistical analysis and prediction models based on numbers and probability. One day I was watching some videos on Youtube and I came across the documentary series of Jonas Gjelstad. I was fascinated. Immediately after watching this I searched for Edgebet, which already had become TrademateSports. I was looking around a while and then I wanted to get more information about the value calculation and the software, so I registered.

      What I think is one of the most important things to mention is the great customer support you get from the Trademate team. There are plenty of videos describing the software and the different plans you can buy. You can get help within minutes using the chat support and the team is even willing to do a short skype to show you around the software.

      Cool Features

      Going on with things concerning the purpose of the software there are several features I want to mention. The main screen of the software is your own dashboard. It gives you an overview of your balance, your fund growth, your number of trades, your profit, your open turnover and so on. I really like switching to the dashboard from time to time to have a look at how much money I have in play at the moment or to see how I´m performing at different bookmakers. But one of the coolest features of the dashboard is the overview of trades traded by the community. There always pops up a new community member´s trade. I really enjoy seeing what others bet on and how much they are staking and at which bookmaker they find value. It gives you the feeling of a big team, a community of sports traders, being transparent to each other, even though you don´t know whose trades you see. It´s just interesting to see that there are lots of different players with huge differences in stakes and in odds types interest. I have to add that I also really like the slack group every member can get into. It´s nice to see how energetic the community is, trying to help anybody who´s got a question or an issue concerning sports trading.

      Tradefeed

      At the ´Tradefeed´ section of the software, you can edit your very own presets determining which kind of values you want to be shown.

      Presets / filters

      The Tradefeed is where all the games in which one can find value pop up and you can register the trades so it can be analyzed by the analytical part of the software.

      What is good about it is that you can edit your personal presets (filters) to show the bets you are interested in. This means that you are not going to be shown every single value bet you´re not interested in because of the odds, league or something else. Most of the time when I´m getting up in the morning, coming home or when I´m just relaxing on the couch I open up my laptop and head to my ´Tradefeed´ to see if there are any interesting value bets.

      The cool thing is that I can do other things at the same time. The ´Tradefeed´ section has some nice features that let your work with Trademate be very easy and unstressed. You don´t have to sit in front of the screen all the time and you don´t have to look on the ´Tradefeed´ for hours because it has the feature of playing a sound on a new trade. You can decide which presets should play a sound and which ones shouldn´t.

      That´s some kind of having the feeling you are not working while you´re trading because you can do other things at the same time, like watching TV, surfing on other websites or whatever you want to do and you still get to see every single trade by just looking at your ´Tradefeed´ when you hear a sound.

      Notifications

      Notifications

      There even are desktop notifications on new trades you can turn on or off.

       Desktop notifications

      Desktop notifications

       Desktop notifications

      Desktop notifications

      All this makes trading with Trademate rather easy. You just head to the website, it shows you which team to bet on, you head to the bookmaker, place your bet, register it at Trademate and you´re done. You don´t have to do any further analysis. It´s like an insider knowing what is going on in each game, giving you the right information and in the long run, you´re making money. I always have to think of the “Sports Almanac” of the film “Back to the future” while working with Trademate. Of course, it´s not the same because the Trademate software is not going to tell you who will win in each game, but that´s not the aim in sports trading. The aim is to find value and this is what the software is doing in an admirable way.Of course, you have to consider that you must try to only place bets which are +EV (positive expected value), but if you manage to do that you will make money in the long run. And like I said, Trademate makes identifying these games so easy for you.

      I think the whole software is just so user-friendly and I would assert that anyone can do sports trading using the Trademate software. Even if one is completely not into sports betting, into trading, into bookmakers or into sports at all.

      I like the design of the website in general. It looks so clean, structured and organized. It gives me a feeling of trust into the whole product. For me, it definitely exudes reliability.

       

      My trades - Keeping track of your results

      Switching to the ´MyTrades´ section it´s good to see the odds, the edge and the closing line edge and the net return at a glance. I like it because you can look your last trades over in no time without having to click at every single trade first to see it.

       Settled trades

      Settled trades

      Another feature I like is the possibility to search for certain trades like you can search for ´Premier League´ and you are going to be shown all trades you made on games in the Premier League.

      Well, last but not least, what do I love working with the analytical part of the software? The analytical part is the big plus ofTrademate Pro. Heading to the ´Analytics` section you can see your expected value compared to your closing expected value and your average edge placed compared to the average closing edge at first sight.

       Dashboard statistics

      Dashboard statistics

      What I like the most is that it´s not complicated to do an analysis of your trading performance. Again it´s the very user-friendly, nice structured and clean design which makes it super easy to get an overview of your performance and your statistics.

      There is a chart showing your net return, your expected value based on the time you placed the trade and your expected value based on the closing line. For me, it´s a very nice feature that by running over one of the curves with your mouse it shows you every single bet that has the curve made go in a specific direction.

      Stats and performance graph. Showing your profits, closing EV and EV based on the time the trade was placed. 

      Considering the ´Stats breakdown´ part I really like the straight comparison of the average true closing odds together with its probability of success and your hit rate. You can immediately see if you´re running lucky or bad at the moment because of course over time your hit rate should even out with the average true closing odds.

       Closing odds and hit rate breakdown

      Closing odds and hit rate breakdown

      Analysis Tool

      The heart of the ´Analytics` section is the customizable settings part. You can edit a personal analytic preset so that you can filter your results. The charts immediately adapt to your preset and you can go deep into analyzing your trades having all your statistics clearly arranged.

      That´s my personal opinion of the Trademate Sports software. I hope I could show you which characteristics I love while working with it. Again in my eyes, the product makes it so extremely easy for you to place good value bets on the sports you love by having a very attractive user interface. Just form your own opinion of it by trying out the offered 7 Day Free Trial. It´s definitely worth it. 

      I hope you enjoyed reading a personal opinion of a user of TrademateSports.

      Goodbye and have fun trading.

      - Jan

      After I wrote this article the Trademate team reached out to me and offered me a freelance position at Trademate, where I will do some marketing, writing and customer support for Trademate. I really like this product, so being able to work with it is something I’m looking forward to!

       

      A Real Customer's Experience of using DailyTrades - The Aussie Version of Trademate

      Hello world. Today I begin my diary of sports trading using the Trademate come DailyTrades tool. For those having never heard of the product and wanting a quick lowdown, I recommend viewing this video and spending a period of time flicking through the various videos on Trademate’s Youtube channel.

      A little on me first. For the purposes of avoiding bookie bans, my name won’t be provided on this format. I am an Australian who is currently researching performance analytics at an elite sports organisation. Around the age of 18, I begun to place bets and quickly became a losing, small stakes punter. Searching Twitter one day I came across Steve’s website and somewhat speedily became a member of the Value Selections portion of DailyProfit. Without limits at all bookies, the selections were essentially printing me money but over time I have slowly been banned at a growing percentage of the Aussie books. Since then my profits substantially decreased and recently many of the more well-known bookies have reduced the value of their offers. Generic story, but the base for where many like-minded, profit driven punters have ended up. Having received an email early February, I began to turn my punting focus to the edge bet. These blog entries will be the basis for me to analyse my week, provide detail of my failures and pitfalls and hopefully reach a satisfying profit number before the bookies take me down all over again! Without further ado, let’s get into the results!

      Stats

      Starting Balance: $2400
      Bets Placed: 698
      Turnover: $24,942
      Total Profit/Loss: +$734.9

      The Dailytrades dashboard gives you an overview of your stats. 

       

      As we can see, my first month of trading was up and down. This was largely due to the way I was taking plays, and a strategy alteration around the midway point (Bet 286 to be exact). The first 285 bets I placed utilising the 30% Kelly system. Since then I’ve altered my approach to the greater variance 50% system. This system comes with a caveat that I play every bet over $3 with the 30% system, and have a sliding scale for the bets placed over $2.75. My first learning process as a punter was provided by Trademate’s own Marius (a regular feature on the Trading Europe Youtube series). Marius is known for his preference to avoid variance, and thus trades with the 30% Kelly system. He alerted me to the fact that I shouldn’t be taking bets outside of a $4 range unless the edge is off the charts. From Bet 516 onwards I have not taken anything outside of the $4 range. Variance has been favourable since this point, but over the last 182 wagers placed I’ve profited $1063.

      The beauty of this first month is that it has provided me with a relatively strong losing run. From Bet 222 to Bet 547, I went from a profit point of $835 to a loss of -$608. For the higher rollers, this may be a relatively average week and a half. For a small stakes bettor, this variance is another thing entirely. Understanding the reasoning behind the betting enabled me to bypass any concerns about the profit/loss figure. The variance was out of my favour and it was money that if worst came to worst, I was willing to part with. The other favour a downswing provides is a thorough review of what is and isn’t working for you. As previously detailed, for me it was the fact that I was taking every edge, regardless of whether the edge placed was a $10 longshot or a $1.20 favourite. Having identified this aspect of trading early, I now have an invaluable piece of knowledge at a minimal price.

      As I’m sure you’re now aware after clicking on that aforementioned link, Edgebet have their very own ‘savant’. Jonas Gjelstad is a poker player turned sports better who came from a similar position of loser to winner, quickly turning $10,000 into a million after developing his own processes and utilising the Edgebet information on the sharp books (Asian market). As he so eloquently summarises, he has had a losing month but never a losing year. Variance is just one of the battles to overcome. From Bet 1 to Bet 698 much has been learnt and I’m sure the learning process will continue. I’ll keep you informed of how everything is tracking and the alterations I continue to adapt in the way of staking and in the way of how I take certain plays.

      I hope you enjoyed the read and may the variance be on your side.

      Trademate Pro - Product Walkthrough

      A guide on how to use the Trademate Pro product. A sports trading software for experienced sports traders that targets the Asian markets.