First off, thankyou to the posters who left comments under yesterday's posts. Worth a read if you haven't done so already. Some interesting issues/suggestions raised.
Right, I think I need to make one thing very clear after yesterday's post. I am NOT thinking of jacking my job in to go full time punting. As things stand at the moment, even if I wanted to I couldn't, for reasons that will become apparent later in this post.
What prompted me to blog on the subject of going pro' was a comment I made last week about putting myself in the position where I could if I chose to. Getting myself into a position where I have the choice is going to take time. It will mean a) making profits; that b) can be ploughed straight back into the betting operation. 'B' could be tricky, as the income generated by my betting does come in more than handy with coping with the costs of everyday life.
The point I was really trying to make yesterday was that with job security becoming something to be enjoyed only by a privileged few, taking the risk of jumping into full time betting may not be the leap it once was. The risk part of the risk:reward ratio aligned to such a move has and is decreasing. People giving up a salaried job are perhaps not giving up as much as they once were, for not only are there decreasing levels of job security, but the ability to save adequately for retirement - even if salaried - is becoming more and more compromised.
Having said all that, there surely remains a huge psychological gap to jump if giving up the monthly pay cheque in favour of relying on the outcome of football matches and the ability of certain horses to run fast for one's financial wellbeing. I would also suggest that if we are to go betting full time to allow more time to be spent with the kids, etc., then spending all waking hours stressing about bets and losing runs might just take the edge off it all! There'd be no point in changing lifestyle if you still couldn't enjoy it, would there?
If we analyse the sources of stress when gambling, what do we find? Is it possible to identify specific sources of gambling-related stress and then do something about them to facilitate a life of gambling largely (but not entirely, I'm sure) devoid of the causes of stomach ulcers and tension headaches?
Possibly, is my answer. To my mind, and I speak entirely subjectively here, if you have a number of services that you have faith in, and you have a bankroll of sufficient size, plus funds in the bank that you can call on to act as a buffer to the inevitable losing spells to draw upon to maintain your standard of living for a decent period of time (perhaps two years?), then the stress would possibly be soothed. I can't imagine it would disappear entirely, but rather hang around, lurking just beneath the surface, ready to cause havoc given half a chance.
I'd wager (heh!) that the most common cause of gambling-stress is trying to achieve too much with too little funding. A betting bank of insufficient size or over-leveraging, perhaps. If I were going full time, I would forget about leveraging. I leverage my betting funds at the moment. But were I gambling for a living, the sense of security I would get from not leveraging at all would probably provide a rather snug comfort blanket. It would make little financial sense and would mean that looking at things entirely objectively, some funds were being under-utilised, but what I might lose from not maximising the impact/power my betting bank might hold would be countered by the psychological benefits. Possibly as confidence grew from making a success out of things, then an element of leveraging could be introduced. But as the biggest part of the battle, initially at least, is a psychological one, would this not make sense?
So, there's my solution, and therefore ultimate aim...to win enough to get to the point where there are a couple of year's living expenses in the bank and separate betting funds sufficient to not feel obliged to apply leverage. Getting to that point might be dependant to an extent upon profit-making, but let's not forget that I was talking about changing lifestyle. I guess people in my situation could gain a significant, if not the total sum of necessary funds from the process of "downsizing" that would be an inevitable (and desirable) part of the whole process.
I know from experience what it is like setting up a new business. Although the company I work for is not my company (err, obviously), I was one of two members present in the office on Day 1, the other being the owner. I was 24, had just six months' experience gained at a "big" company, had just taken out my first mortgage two months' previously, and my wife (girlfriend as she was then) had just quit her deadend job to start upon a "proper" career role. It was high pressure, but it was an opportunity. Would changing to gambling for a living, with funds behind you that were sizeable if not bottomless, really involve more pressure than that scenario sixteen years ago? Does it provide a real opportunity? Of course, all these questions are rhetorical, as I've not done it. There may be a few readers who have made the jump who are laughing their socks off reading this "shit", thinking I don't have a clue. And who would I be to argue with them?
I'm aware that what I'm writing here is only from my own personal viewpoint. Others may have bigger concerns and sources of psychological pressure when it comes to gambling. The point remains though - can these sources of pressure be dealt with sufficiently to make professional betting a realistic career-option, and one that is no more stressful (when we think about it) than the sort of salaried position that most endure?
Tomorrow, the practicalities.
Not much by way of returns today. The Sportsman Racing had an each way selection come in second (Raleigh Quay - Ripon - 100/30 and 7/2) for a small loss. No success today for Winning Racing Tips (0/1) or The Market Examiner (0/3).
Winning Racing Tips: Staked 0.3pts, -0.3pts.
The Sportsman Racing: Staked 0.5pts, -0.079pts.
The Market Examiner: Staked 3pts, -3pts.
Summer Of Football have a bet tonight in the Brazilian second division (never thought I'd see the day when I was playing in that league!) but as it doesn't kick off until 11.30, you're going to have to forgive me if I don't report back on that one until tomorrow.
Make the most of the evening sun. Looking at the forecast, it could be the last we have for a while. Probably until next summer in fact.