Can you tell me about your background in Horse Racing and using the Betting Exchanges?

Well, I came into Horse Racing by accident about 9 months ago while searching for opportunities to make money on the net. I was desperately looking for opportunities when I bumped into a system being sold on eBay that promised a lot. It was a loss recovery system that promised at least 2% per day. I got the system and tested for a couple of weeks and it proved to be working well. I decided to use real money and was doing well for the first 3 days. On the 4th day I had 15 losses in a row and the whole Bank went bust. That was an experience! From then on, I managed to get hold of several systems and tested them if it was profitable. To my agony nothing worked well over time though the testing period has been short. I guess I am looking for a system to make quick bucks.

Now I am hooked to racing not for the fun it as I really don’t care which horse wins or losses but to make money.

I have not used any of the Betting Exchanges for now other than testing systems using Betfair. But I have the learned the mechanics of such exchanges as I used to trade stocks and options which is somewhat similar to the Betting Exchanges. I am also currently testing a football trading system using the Betfair.

Would you describe yourself as a Betting Exchange Trader or a Punter?

It is a little difficult to categorise myself. I am on the look out for opportunities to make money. I don’t mind being a punter or a Betting Exchange Trader. I am only interested in making money. If I find an opportunity, I will grab it. Honestly I don’t get the kick out of getting my selection right but only when I see my bank increases.

Over the time you have been betting, would you say you have won more that you lost?

To be honest, I have lost my bank twice thought very small relatively to most punters. However, the bank I had used is only for testing so I didn’t mind the losing it. It is always a little fun using real money to test systems though it can be as small as 10p. This way you can train your emotions when you take the plunge to bet in larger amounts.

Do you use any Betting Bots and which ones would you advise using?

I have had a look at Bet Angel basic version (Free). That is as far it goes for Betting Bots for me. I have heard of some good reviews from friends about betting bots. I hope to give a try later.

What is the most costly lesson you have ever made when either betting or trading?

Well the number one lesson is chasing after losses and second is betting for fun. Both are sure way to losing money. Though I am relatively new to betting, but from my stocks and options trading experience, I am of the opinion that to win in this business you got to have a system and sticking to it like a leech. No fun betting unless you don’t mind losing money.

What would you say to anyone who is just starting to bet or trade?

I assume everyone who comes to betting is trying to make money. So my advice will do not use your money unless you know what you are doing. Have a strategy. It doesn’t matter if it fails but you must have one. So when it fails, you can always evaluate it and devise a new strategy. If you have a system, stick to it. If you lose money, at least you would no that the system is not working and you may need a new system. Do not bet for fun. It is absolutely a NO NO!

Have you followed any Horse Racing Tipsters in the past and what did you think of them?

Well I have not subscribed to anyone for the long term but have taken free trials. A couple has been good though it was only for a week or so. One of the reasons I have not subscribed is because they a little expensive and also a little sceptical on why they providing the service when they could make enough money from betting themselves. But again why not create a multiple source of income when you have good information right!

Do you have any further information or help you could give someone who has been betting or trading for a while or is just starting out?

If you are betting or trading for a while then you may already have the experience. However if you are new or just starting out, based on my little experience which, includes trading in stocks and options, my advice would be as follows:

a) Use only the money you can afford to lose.

b) Start small. If you have a good system, you should be able to build your bank from a small amount.

c) Do not make fun bets unless you are willing lose money as you definitely will.

d) If you are using systems, test it for a good period of time before committing real money. Ask yourself if the system make any sense and if there is logic behind the system. Stick to the system. If you are still losing, evaluate the system. This way you will have your emotions in check at all time.

e) Emotions will be the number one enemy in this business.

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