As a long term gambler do you actually have a profit margin? Most I know don't, a few seriously talented card players have decent return the rest are deluded.
97% of regular gamblers lose over the long term. Of the other 3% a third of those make enough to do it for a living & have no other source of income. I'm not in that section.
I am in the other 2 thirds though in that i show an overall profit. Or at least I have done for the past 20 years. The 20 years before that were a learning curve as is acquiring any skill. In those days I only bet occasionally on certain events & it was all a bit hit & miss. But I paid attention & learned from the mistakes.
It became a more serious pursuit after the turn of the century when bookmakers went online in a serious way & Betfair started. The ability to place lay bets & therefore trade out of bad positions & limit losses made a huge difference. Also the appearance of the Asian handicap markets increased opportunities, as did the over/under markets. They all opened up avenues for betting that hadn't existed previously. Thats when it took off. I started keeping records from 2005 onwards.
Since 2005 the total profit figure stands at a shade over 42 grand. I record a final figure for every year on new years day after the Cheltenham race meeting that day.
2005 wasn't a full year as I made the record keeping decision in the summer but over the whole span of the years it works out to roughly £2300 as an average profit per year. The biggest one off stake was £50. The vast majority are £20 either as a straight win or a tenner e/w on horses. Usually £25 on a football bet. I rarely bet on 1x2 results markets, it's normally a handicap score bet or an over/under goals bet. betting on football is low margin so it takes a long time to build a profit total. Horses give bigger returns but bigger risks. It's all about the odds & your own personal appetite for risk. I'm quite conservative in that regard. Happy to build a bank slowly.
In 2012 I had 17 bookmaker accounts. I now have 4 having been either heavily restricted or outright banned by the others. So i use the exchanges a lot now.
I did shed a nostalgic tear at losing my Ladbrokes account, which I'd held since it was a telephone account opened on my 18th birthday.
This year has been below average & as of this minute looks like being about £1800 up unless i nab a big winner at the weekend.
Biggest ever win was £6000 on a combination 5-fold & Yankee on 17/02/2016. It would have been £10400 if I hadn't hedged out on the 12/1 shot running for me in the last, which of course went on to win.
Total stake on that was £31 (26 x £1 on the Yankee & a fiver on the 5-fold) Unsurprisingly 2016 was my best ever year. Despite not betting on us to win the ****ing league !
Over the years it's paid for half a dozen very nice holidays, some nice turntables, a lot of great days out at sporting events, presents for stepchildren & some extremely debauched awaydays that are best left unmentioned.
Oh. & a very nice Ozwald Boateng suit that I just wanted as my only ever designer clothing treat. It's not something that usually remotely interests me but this thing was ****ing ridiculous & I had to have it. 700 quid.
Since sold on as:
a) I am now XL as opposed to L
b) a 57 year old man in an Imperial Purple suit can only ever look a ****.
The trick is to regard it as a hobby or interest. Since 2005 I haven't made a deposit to a bookies account other than when I've had one closed down or restricted & had to withdraw & move it to another one. So it exists entirely seperately to any other money I might have & doesn't affect my weekly/monthly budget in any way. Thats the key really. The rises & falls over time have no effect on the rest of my life.
I also don't have expensive tastes (other than that suit) So don't get tempted to spunk profits on pointless tat. I live in council accomodation so my rent is low & secure. I don't buy labels (apart from the suit!) I don't drive. Had a bike licence for a long time but due to illness can no longer ride so that expense is gone too.
Put all that together & I've done very well.
BUT...anyone asking me for tips can **** right off. You have to be prepared to lose £150 quid in an afternoon & come back tomorrow & I refuse to be responsible for anyone else having a shit day !