Asking for a loan to arbing...?

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TjTaker
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TjTaker

Asking for a loan to arbing...?
« on: January 03, 2015, 02:10:04 PM »

Fellow arbers :)
You think it would be a good idea to ask for a loan to be able to make more money arbing?
As the most regular people here know, I make about 700/800€ per month doing this, and I have a bankroll near 8000€ at this time.
What if I spoke with a good friend of mine and asked if he can borrow me 10k to join my bankroll.
Doing the math I could pay him the loan in 12/18 months and after that with a bigger bankroll I would be able to make at least 2500/3000€ per month...
What do you think?
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ppintaluba
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ppintaluba

Re: Asking for a loan to arbing...?
« Reply #1 on: January 03, 2015, 02:21:52 PM »

I don't think you need a loan.
You can keep all your winnings on bookies and increase your balance by yourself.
Can you do it or do you depend on this money to live?
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TjTaker
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TjTaker

Re: Asking for a loan to arbing...?
« Reply #2 on: January 03, 2015, 02:28:25 PM »

I live alone and my only source of income is this.
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Arbusers
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Arbusers

Re: Asking for a loan to arbing...?
« Reply #3 on: January 03, 2015, 02:53:33 PM »

There is no simple answer to this question. First of all I m in genaral negative about this idea, but if you are willing to go for it you must consider some things.
1. The interest rate that you have to pay to your friend. Friends do not ask for interest rate, but if you have to pay him you must take into account that your monthly ROI is 9-10%. If we suppose that you will continue like this, then the maximum you could pay him would be 1-2% monthly. He would never get this interest from a bank.
2. Are you sure that you will continue making money like this? If not, maybe this is not a good idea,
3. You must avoid big risks at any cost. Imagine your money locked is a shitty bookmaker refusing to pay you back. Then both of you, but mainly you, will be fucked up.
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doubledavis
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doubledavis

Re: Asking for a loan to arbing...?
« Reply #4 on: January 03, 2015, 03:21:36 PM »

A few years back when I first started out I took a loan from a friend to help boost my bank roll. My roll was around £20k at the time. I borrowed £18k from a former work colleague (his savings for his eventual mortgage deposit) on the agreement that I would pay him £400 per month for the duration I kept it and then would give him his £18k plus however many x £400 back when we both decided. In the end I kept the £18k for 12 months so gave him back £22,800 which he was more than happy with as was miles beyond what even the best high interest isa could have offered him. Also important to mention that I promised to guarantee his cash, i.e whatever happened he would get it back. I guess this is slightly different to a loan, infact i'm not sure what you would call it but it worked well for both of us. I never did the maths to see if this was better or worse than a bank loan for myself. From my experience to get £18k here over 3 years from the bank (if they will give you it) would cost around £550 per month in repayments although at least you are actually paying it off which I was not. But I preferred the flexibility of just being able to give it back whenever I saw fit with no hassle or early repayment charges etc.

So to summarise I would say yes give it a go but make sure both you and your friend are very clear with each other on the terms.
« Last Edit: January 03, 2015, 03:25:31 PM by doubledavis » Logged
Thordin
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Thordin

Re: Asking for a loan to arbing...?
« Reply #5 on: January 03, 2015, 03:45:05 PM »

I had a bank account with overdraft -5000.
Drained it all, was charging me around 60 euros per month interest.
I ignored their payment plan, i think i was supposed to deposit 200 minimum per month, but they didn't do anything except call me every few days.
After 4-5 months i put the money back.

Bank loans are not that expensive i believe but maybe its hard to get one?
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yorkjoss
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yorkjoss

Re: Asking for a loan to arbing...?
« Reply #6 on: January 03, 2015, 04:05:21 PM »

it's a no brainer, get a loan either from your friend or from the bank, which ever is the most suitable, it's possible
including your friend can cause problems, maybe bank is best? you are very similar to my situation 6 years ago,
I took out 2 loans simultaneously both for £10k and both for 12 months, paying them off was not a problem, and oweing
that money made me work even harder, for me getting the loans was the one of the best arbing decisions I ever made.

you are obviously a skilled arber, have confidence in your talents

arbing is your "business" it needs investment to grow
« Last Edit: January 03, 2015, 04:13:53 PM by yorkjoss » Logged
TjTaker
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TjTaker

Re: Asking for a loan to arbing...?
« Reply #7 on: January 03, 2015, 04:45:39 PM »

With a bankroll of 20k I can make 2000€ per month (minimum). I can live with 1000€ and the rest, another 1000€ save it and within a year the loan is paid.
It's clear that I can do this consistently, for example... nearly all who commented on this post are full-time arbers and in the future we will make lots of money. Not wanting to sound arrogant I consider myself an intelligent person, but above all, very sociable and having many good friends (ID's = Sweet Money).
My only problem is money locked in a shitty bookmaker refusing to pay me back. That's why I always try to work with the most respected bookies.
I wanted to thank everyone who responded and those who may still respond.
Everyday I like more and more of this forum and the people who belong to it.
We are together!
*My next goal is to practice my english xD
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sportoboy
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sportoboy

Re: Asking for a loan to arbing...?
« Reply #8 on: January 03, 2015, 08:26:07 PM »

As soon as I realized what potential arbitrage had I took a loan from my sister (about 10k), which doubled my bankroll back then. This made a huge difference to my profits and was a wise decision. Of course it's always easier when you have the option to find funds from close relatives.  Needless to say that I didn't have to pay any interest rate. But even if I could only take a loan with a 10% rate, it would still be profitable. But that was some years ago, when things were easier for arbitrage.

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TjTaker
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TjTaker

Re: Asking for a loan to arbing...?
« Reply #9 on: January 03, 2015, 09:37:25 PM »

''When things were easier for arbitrage.''
First of all, it's impossible for every bookmaker move their odds simultaneously.
Provided that there is, and I think that will always be.. respected bookies in terms of payment to customers and having good arbs between them, things will always be easy for arbitrage.
We just need this: (Vpn, Id's and Money) the rest is bullshit.
For example, the other day everything was going well when another obstacle had been put in my way...
The regulation of online gambling in my country will change and that will make my career over.
Fuck that! I thought to myself, is there any way to get around this?
Yes there is. So... fuck that!
Well, with that said maybe even one day my son will follow his father's footsteps ::)
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Rudolpho
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Rudolpho

Re: Asking for a loan to arbing...?
« Reply #10 on: January 04, 2015, 09:03:30 AM »

You also need to consider if you will be able to use all of this money. On paper many things look obvious, but sometimes the reality is not the same.
If the World Cup in soccer would be a month away, with no doubt I would say take even a 100k loan if you can, but now - I'm not sure.
You will also need to get used to your bankroll - it will not be the same as slowly growing it by yourself month after month...after month.
The only positive thing that I'm 100% sure is that my discipline would be at top when operating with money that's not mine.
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Seb
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Seb

Re: Asking for a loan to arbing...?
« Reply #11 on: January 04, 2015, 11:37:51 AM »

I'm also in general negative about this idea. I think it's better to learn a little bit more, and make more profit with this bankroll.
From my experience I can tell you, that with 8000 eur you can make 2000-3000 eur per month, even more...
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pedro
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pedro

Re: Asking for a loan to arbing...?
« Reply #12 on: January 04, 2015, 12:15:29 PM »

with 8000 eur you can make 2000-3000 eur per month, even more...

how?
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raizzak
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raizzak

Re: Asking for a loan to arbing...?
« Reply #13 on: January 04, 2015, 04:50:37 PM »

A few years back when I first started out I took a loan from a friend to help boost my bank roll. My roll was around £20k at the time. I borrowed £18k from a former work colleague (his savings for his eventual mortgage deposit) on the agreement that I would pay him £400 per month for the duration I kept it and then would give him his £18k plus however many x £400 back when we both decided. In the end I kept the £18k for 12 months so gave him back £22,800 which he was more than happy with as was miles beyond what even the best high interest isa could have offered him. Also important to mention that I promised to guarantee his cash, i.e whatever happened he would get it back. I guess this is slightly different to a loan, infact i'm not sure what you would call it but it worked well for both of us. I never did the maths to see if this was better or worse than a bank loan for myself. From my experience to get £18k here over 3 years from the bank (if they will give you it) would cost around £550 per month in repayments although at least you are actually paying it off which I was not. But I preferred the flexibility of just being able to give it back whenever I saw fit with no hassle or early repayment charges etc.

So to summarise I would say yes give it a go but make sure both you and your friend are very clear with each other on the terms.

i have done a similar deal in before and i would say it is a good idea if you are 100% that you know what are you doing. A bank would be cheaper btw fore sure, but i understand that many ppl they don't want to involve banks...

Quote
I'm also in general negative about this idea. I think it's better to learn a little bit more, and make more profit with this bankroll.
From my experience I can tell you, that with 8000 eur you can make 2000-3000 eur per month, even more...

actually it is 100% more i don't care what ppl may think but it is certainly achievable
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TjTaker
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TjTaker

Re: Asking for a loan to arbing...?
« Reply #14 on: January 04, 2015, 09:28:06 PM »

Maybe with live arbing, but it's not my expertise (for now) :P
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