Vidablue which country are you in where betting is taxed if it is 'primary' source of income but not 'secondary'?VidaBlue wrote: ↑Sun Jun 11, 2023 3:23 pmThe initial question was a good one. How does a gambler become professional?
I believe I tried to answer exactly this. I do not know if someone can make a living value betting on limited accounts (although I am quite certain there are ways around this).
Each level is educational, gives you experience, develops you. You are even being paid for it. Ultimately you MAY find yourself in a position where you can make a living in one of those "levels" where you have become very efficient and specialized. That is the idea. But until then, you have to like the journey, it has to be a lucrative hobby, not an obligation. Not every personality would find this enjoyable in the long run.
I do personally not make a living from sports betting. My salary is divided such that I have approximately 60% from my job (I work with data and programming) and 40% from sports betting. I spend 35 hours a week on the job and 10 hours a week on sports betting (everything included). Since the income per hour from sports betting is much higher than from the job, why not quit the job and go all in on sports betting? Well, if it becomes the primary income, it would no longer be tax free, I would have to pay income tax from that. It also does not pay me paternity leave, sick leave, child sick leave, retirement plan, lunch, parties, speciality courses, etc. Of course all that would change if the regular job wasn't something enjoyable.
Sports betting is educational. Becoming more efficient making more per hour makes it possible to have more time for other things in life. Maybe one day that could also lead to the decision to begin a lucrative full time sports betting scheme.
Value betting professional gambler
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Re: Value betting professional gambler
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Re: Value betting professional gambler
a heartfelt thank you to everyone for your patience, you are opening my eyes to what I want to do. starting tomorrow I want to seriously start value betting live on betburger. I would like to ask last things I ask you please. to find value in live it is better to use betfair exchange or pinnacle sports?. for the prematch I was using pinnacle sports to find value against the soft bookmarks and had big profits.
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1. those hardwired to pinnacle odds (such as fonbet and to some extent Tipico)
2. those semi-wired to pinnacle odds (marathon, 1xbet etc.)
3. bigger, more independent books (Kambi, bet365 ...)
So if a game is launched by pinnacle in a market already inhabited by numerous soft books, maybe it is time to hesitate a bit and observe. If only the hardwired books follow but the rest of the market stands still, often it is a matter of a minute, 2-3 consecutive upward adjustments until the pinnacle line finally lands in the range where it should be and where it can no longer be arbitraged. Avoiding value betting these pinnacle lean illusions may be quite positive for the value bettors overall yield, I think.
Has anyone had similar observations or does anyone disagree?
Re: Value betting professional gambler
I would like to make a contribution to this matter. On a daily basis pinnacle mistakes seems to happen at games in lower leagues (soccer, basket, tennis) being launched by pinnacle. I believe you can categorize soft books into 3 groups:arbusers wrote: ↑Mon Jun 12, 2023 8:09 am4. ''value shares are taken from pinnacle sports'' Pinnacle makes mistakes too. In some cases their traders are not that educated. Public library will tell you that Pinnacle is the epitome of odds compiling, in my view this is simply a myth created by people fed by pinnacle. You might want to have a look at the following video. This is the 2nd time I m posting it these last couple of days.
1. those hardwired to pinnacle odds (such as fonbet and to some extent Tipico)
2. those semi-wired to pinnacle odds (marathon, 1xbet etc.)
3. bigger, more independent books (Kambi, bet365 ...)
So if a game is launched by pinnacle in a market already inhabited by numerous soft books, maybe it is time to hesitate a bit and observe. If only the hardwired books follow but the rest of the market stands still, often it is a matter of a minute, 2-3 consecutive upward adjustments until the pinnacle line finally lands in the range where it should be and where it can no longer be arbitraged. Avoiding value betting these pinnacle lean illusions may be quite positive for the value bettors overall yield, I think.
Has anyone had similar observations or does anyone disagree?
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As long as the gambling tax is paid by the books, revenues from sports betting is by law be tax free. But when a person runs something as a business, the primary income from that is taxed as income tax. So it is kind of ambiguous. There have also been cases in the past, where citizens would get heavily taxed as their betting slips were not enough to prove their source of income. So to avoid any problems, I use sports betting as a taxfree salary booster. Maybe I am just too cautious and paranoid and should hire a specialist, if I some day decide that I want to prioritize more time and increase my salary from sports betting.
I live in a Scandinavia.
Re: Value betting professional gambler
Thank you for asking this question. It made me revisit the matter. The truth is, that I am not 100% sure how the tax administration would treat this. I have called them some years ago when I wanted to increase my personal income to achieve a higher mortgage for a real estate investment, but the answer was that it could not be used for boosting my regular salary.
As long as the gambling tax is paid by the books, revenues from sports betting is by law be tax free. But when a person runs something as a business, the primary income from that is taxed as income tax. So it is kind of ambiguous. There have also been cases in the past, where citizens would get heavily taxed as their betting slips were not enough to prove their source of income. So to avoid any problems, I use sports betting as a taxfree salary booster. Maybe I am just too cautious and paranoid and should hire a specialist, if I some day decide that I want to prioritize more time and increase my salary from sports betting.
I live in a Scandinavia.
Last edited by VidaBlue on Mon Jun 12, 2023 11:02 pm, edited 1 time in total.
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Re: Value betting professional gambler
Good man, let's not write all these advanced things that work, otherwise we'll be out of work, ahahahahVidaBlue wrote: ↑Mon Jun 12, 2023 10:37 pmI would like to make a contribution to this matter. On a daily basis pinnacle mistakes seems to happen at games in lower leagues (soccer, basket, tennis) being launched by pinnacle. I believe you can categorize soft books into 3 groups:arbusers wrote: ↑Mon Jun 12, 2023 8:09 am4. ''value shares are taken from pinnacle sports'' Pinnacle makes mistakes too. In some cases their traders are not that educated. Public library will tell you that Pinnacle is the epitome of odds compiling, in my view this is simply a myth created by people fed by pinnacle. You might want to have a look at the following video. This is the 2nd time I m posting it these last couple of days.
1. those hardwired to pinnacle odds (such as fonbet and to some extent Tipico)
2. those semi-wired to pinnacle odds (marathon, 1xbet etc.)
3. bigger, more independent books (Kambi, bet365 ...)
So if a game is launched by pinnacle in a market already inhabited by numerous soft books, maybe it is time to hesitate a bit and observe. If only the hardwired books follow but the rest of the market stands still, often it is a matter of a minute, 2-3 consecutive upward adjustments until the pinnacle line finally lands in the range where it should be and where it can no longer be arbitraged. Avoiding value betting these pinnacle lean illusions may be quite positive for the value bettors overall yield, I think.
Has anyone had similar observations or does anyone disagree?
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Re: Exploiting bookies rules
I want to ask a way of taking advantage abusing soft bokies rules and regulations. I know for example if they close your account for abusing their rules they normally return you your initial deposit. So theoritically if you are on a losing streak you have advantage by this bookie restricting you. So my question goes like that is it worth breaking their rules after losing a couple of bets and in contrary if you try to win can you take advantage from the initial deposit prerequisite if you withdraw money never exceeding the initial deposit amount? Has anyone conducted such limit testing? I mean i am from greece and i am talking generally for bookies especially online with curacao licenses that are unstable. How can i protect myself from them if they decide to close me? If i withdraw my initial big deposit and play until i reach that sum will i avoid a closure ( that would have me losing my winnings if i get past my initial deposit) How was your expirience in such bookies? Also which online widely accesible bookies offer 0 percent margin games or close to that and do they endure betting exclusively on close to 0 percent edge?
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You can't be based on the theoretical notion that a bookmaker will return your initial deposits if you have a losing streak, no matter what rules you brake. To my knowledge that spans to almost 20 years, it never happened.
Every bookmaker is a unique case, but in general Curacao based bookmakers are tough to deal with. Some of these bookmakers might be tougher than others. If you have doubts about the reliability of any bookmaker, why deposit large amounts? A rogue bookmaker will be rogue, no matter what you deposit to them. The higher your deposits the more risks you run with them.
Re: Exploiting bookies rules
staminaman_21 wrote: ↑Tue Jun 13, 2023 12:12 amI want to ask a way of taking advantage abusing soft bokies rules and regulations. I know for example if they close your account for abusing their rules they normally return you your initial deposit. So theoritically if you are on a losing streak you have advantage by this bookie restricting you. So my question goes like that is it worth breaking their rules after losing a couple of bets and in contrary if you try to win can you take advantage from the initial deposit prerequisite if you withdraw money never exceeding the initial deposit amount? Has anyone conducted such limit testing? I mean i am from greece and i am talking generally for bookies especially online with curacao licenses that are unstable. How can i protect myself from them if they decide to close me? If i withdraw my initial big deposit and play until i reach that sum will i avoid a closure ( that would have me losing my winnings if i get past my initial deposit) How was your expirience in such bookies? Also which online widely accesible bookies offer 0 percent margin games or close to that and do they endure betting exclusively on close to 0 percent edge?
You can't be based on the theoretical notion that a bookmaker will return your initial deposits if you have a losing streak, no matter what rules you brake. To my knowledge that spans to almost 20 years, it never happened.
Every bookmaker is a unique case, but in general Curacao based bookmakers are tough to deal with. Some of these bookmakers might be tougher than others. If you have doubts about the reliability of any bookmaker, why deposit large amounts? A rogue bookmaker will be rogue, no matter what you deposit to them. The higher your deposits the more risks you run with them.
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Re: Value betting professional gambler
My personal opinion on professional betting. In-play valuebetting is the only way I can see as a serious way to make money with sports betting. And the only way I see that I could still make serious money betting is betting on limited betting accounts with the help of bots. However, it is necessary to realize that betting with bots must be done very humanely, so that we can avoid being kicked out by the bookmaker.
Of course, not too many people can use the same bot, because then bookmakers notice a pattern of too many people clicking on the same bet at the same time. Therefore, it is very difficult to get bots that work in this way these days.
I know quite a few people who have their own inplay bets, but nowadays the problem is how to place those bets. Let's say I can make $100k per month with just one sportbook, and of course I need 3-4 people per month, and this is already multiaccounting, which is mostly prohibited. Multiaccounting is allowed in my country, but this sportbook does not exist in my country
Of course, not too many people can use the same bot, because then bookmakers notice a pattern of too many people clicking on the same bet at the same time. Therefore, it is very difficult to get bots that work in this way these days.
I know quite a few people who have their own inplay bets, but nowadays the problem is how to place those bets. Let's say I can make $100k per month with just one sportbook, and of course I need 3-4 people per month, and this is already multiaccounting, which is mostly prohibited. Multiaccounting is allowed in my country, but this sportbook does not exist in my country
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I've been making value for a while and I'm getting excellent results, obviously I realize that the limitations come quickly in some cases, I'd like to hear from those who make value bets as a source of income to live on how it can be feasible without using other identities and only the your own using more books from time to time as can be feasible in the long run? I read that there is always a need for new identities.
then I'd be curious to know how many plays are made on average per day.
then I'd be curious to know how many plays are made on average per day.
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One answer is pretty simple, be smarter than your competitors. Arbusers posted this excellent video with Marco Blume, watch it. If you find a substantial edge over the pinnacle traders you can make a living quite easily without using any new identity.betto88t wrote: ↑Tue Jun 13, 2023 8:21 amI've been making value for a while and I'm getting excellent results, obviously I realize that the limitations come quickly in some cases, I'd like to hear from those who make value bets as a source of income to live on how it can be feasible without using other identities and only the your own using more books from time to time as can be feasible in the long run? I read that there is always a need for new identities.
then I'd be curious to know how many plays are made on average per day.
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Re: Value betting professional gambler
the video put by marco blue 's arbusers i saw and of excellent value interview the second part i saw too , my advantages on soft are bringing me limits to 1 stake , not 10-15 would be more feasible . so my opinion was to know how feasible it is for those who use value as the only business for a living at the moment with only accounts in my name, it seems impossible in the long run. even if the word impossible sometimes seems like just a limitschollionär wrote: ↑Tue Jun 13, 2023 8:32 amOne answer is pretty simple, be smarter than your competitors. Arbusers posted this excellent video with Marco Blume, watch it. If you find a substantial edge over the pinnacle traders you can make a living quite easily without using any new identity.betto88t wrote: ↑Tue Jun 13, 2023 8:21 amI've been making value for a while and I'm getting excellent results, obviously I realize that the limitations come quickly in some cases, I'd like to hear from those who make value bets as a source of income to live on how it can be feasible without using other identities and only the your own using more books from time to time as can be feasible in the long run? I read that there is always a need for new identities.
then I'd be curious to know how many plays are made on average per day.
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Your questions can not be answered.
Everyone has different circumstances, not to mention abilities. I will now focus only in the circumstances. Someone could be a pro trader in country X, and absolutely nothing in country Y.
Imagine the following scenario: You live in country X where you can milk the shops for ever. You sit at home with your tablet. Some cash is distributed among 3-4 shops and you simply call the shop owner to place the bet. Alternatively, you trained a relative, who acts like junky or an addict, spends his day within a shop or two and he places the bets whenever you tell him to do so via Telegram, while he is searching for cheeks in Instagram. Welcome to the world of smart betting.
This guy would never survive in country Y. But who knows, maybe country Y offers some different options?
P.S: I know at least 7 European countries that could take the role from country X in the above example.
Re: Value betting professional gambler
betto88t wrote: ↑Tue Jun 13, 2023 8:21 amI've been making value for a while and I'm getting excellent results, obviously I realize that the limitations come quickly in some cases, I'd like to hear from those who make value bets as a source of income to live on how it can be feasible without using other identities and only the your own using more books from time to time as can be feasible in the long run? I read that there is always a need for new identities.
then I'd be curious to know how many plays are made on average per day.
Your questions can not be answered.
Everyone has different circumstances, not to mention abilities. I will now focus only in the circumstances. Someone could be a pro trader in country X, and absolutely nothing in country Y.
Imagine the following scenario: You live in country X where you can milk the shops for ever. You sit at home with your tablet. Some cash is distributed among 3-4 shops and you simply call the shop owner to place the bet. Alternatively, you trained a relative, who acts like junky or an addict, spends his day within a shop or two and he places the bets whenever you tell him to do so via Telegram, while he is searching for cheeks in Instagram. Welcome to the world of smart betting.
This guy would never survive in country Y. But who knows, maybe country Y offers some different options?
P.S: I know at least 7 European countries that could take the role from country X in the above example.
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