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Any flaws in my plans?

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newbpunter
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Any flaws in my plans?

Mon Sep 20, 2021 4:36 am

Greetings to you all. Though I'm new to arbing I've read and gained a lot of knowledge from this forum. What I need now is a hands-on experience to practice what I've read. Due to complaints of the high rate of restrictions from bookies here are the routes I intend to take. Being a Nigerian, I can sign up on a few bookies like bet365, Betfair, BetVictor, pinnacle, William hill, and a few others. I want to pay friends and colleagues to create and verify betting accounts for me. With about $20 I can have a fully verified account with each of the listed bookies above and either a skrill or a Neteller account. Though I'm not yet sure if I should start with arbitrage or value betting. Also, my intended starting capital is very low. So I want to do some matched betting with a few bookies with good sign-up offers for my country(bet365, BetVictor, williamhill, Betfair) to raise some more capital. From your experience so far, would this be a worthwhile adventure or a complete waste of time? I'm open to your opinions and advice. Looking forward to hearing from you all. Thanks
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Re: Any flaws in my plans?

Mon Sep 20, 2021 5:59 am

Hello, first of all, theoretically, it's better to say you can collaborate with your friends and shift the total gain among yourselves.
Then, you speak about Skrill but with your (and your friend's) capital you never reach Vip level (15k euro transaction to bookies/trimester) so when you send or receive money to/from other people you pay commissions that are quite expensive.
By the other side, I'm thinking with euro mentality and I can't realize how is arbing in your country. I'd like to say that it worths a try but I don't know anything about laws etc so that's all.
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arbusers
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Re: Any flaws in my plans?

Mon Sep 20, 2021 6:18 am

I am told Nigeria has a rich betting shop environment. Maybe you should focus on it, before expanding your activities online. Like this, you will not need and collaboration with your friends and you will avoid regulatory and other risks.
jagas
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Re: Any flaws in my plans?

Mon Sep 20, 2021 11:58 am

Hello Nigerian and welcome,

I think if you stick hard and try harder, you will make a decent income on this better than the average job in Nigeria.

But my first advice to you will be to avoid ewallet completely. you will have more fees to pay, you will have alot of questions to answer and eventually they will seize your money in some case.

Except if you want to try small, in this business it is a lot of money and alot of risks also but if you stick around, you will find the answers but avoid ewallets or you can use Arbusers as referral but try to connect with him first
newbpunter
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Re: Any flaws in my plans?

Tue Sep 21, 2021 9:03 pm

Thank you all for your replies.

@alealeale my friends are colleagues are not really into arbitrage betting. They know little or nothing about sports arbitrage. Though I've made them understand what I want to do. Those that have IDS like the Nigeria national identity cards or driver's license will be compensated for using their IDS and accounts and those without any form of acceptable documents will be provided with one. A driving license here costs at most $70 - 80. With the ID card and an account statement, a betting account will be fully verified. Though I'm yet to put merchants fees like netteler or skrill into consideration. I think I would avoid them completely.

@arbusers, the betting industry here in Nigeria is a complete mess. Bookies odds are nothing to write about . Their overround is very high. Only major bookies like bet9ja, betkings, nairabet, merrybet, and sportybet have betting shops here. And their odds are valueless and very poor. And I see no way of making profits using betting shops. If you have any idea of smart gambling using betting shops please educate ne or give me clues. Aside the poor odds and slow internet issues I see no other problem using a betting shop.

@Jagas honestly the minimum wage here is very low. Imagine people earning as low as $30 working for 5 - 6 hours 25 days a month. The minimum wage is $35. So a man earning $100 a month from either arbitrage, matched betting, or value betting will be very happy with his earning. Though he could loose his money due to mistakes or circumstances beyond his controls. But it is always said "NO GUTS NO GLORY. Failing and learning from our failures are all part of life experience.

Once again thank you guys for your honest opinions. I look forward to more of these.
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arbusers
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Re: Any flaws in my plans?

Wed Sep 22, 2021 6:32 am

I insist you should take my advise on the previous post.
An ancient Greek proverb attributed to Aesop, said ''God helps those who help themselves''. You should dedicate at least the minimum effort and time as a first step. Asking others to take you by the hand and make you rich will never work.
alealeale
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Re: Any flaws in my plans?

Wed Sep 22, 2021 12:42 pm

newbpunter wrote:
Tue Sep 21, 2021 9:03 pm
And I see no way of making profits using betting shops. If you have any idea of smart gambling using betting shops please educate ne or give me clues. Aside the poor odds and slow internet issues I see no other problem using a betting shop.
Poor odds? When? In which moment? If you check them in a random moment, you won't have the real and the correct
idea if they are good or bad to arb. You have to check them when dropping and verify if your shop is fast to reduce them. You could have a good surprise...
jagas
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Re: Any flaws in my plans?

Tue Sep 28, 2021 11:18 am

Hello Again My friend,

i started from Nigeria maybe some 7 years ago and i made massive money. I costed me alot also but i learnt everyday. Your only problem is that you are afraid now and you really dont want to spend time to research. Every one here makes enough money regardless all our complains and for you. if you have no job in Nigeria or even if you do, Arbing is the best thing compare to that. All you have to do is put in massive effort. 10 hours daily atleast and you will see what you are not seeing.

I gave you the first advise about ewallet because i knew the pain they costed me and i never want anyone to go through it especially an amateur.

Also no one here will tell you their plans, thats why we are still in business.

But also remember, this game is not for everyone. you really need to invest in it.

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