EI,

I agree totally! For the most part I have stopped telling people what I am doing (or trying to do) with my betting - I just got sick of the negative comments. Even my wife gave me a hard time for quite a few months even though I wasn't losing money - I just wasn't making as much as I could of if I had been doing "paid work". About 2 months ago I had a really good week and went out and bought her a piece of original artwork for an anniversary present with about half the weeks winnings and since then she has been a lot happier with the time I am spending on it! :smile:

I think it is like anything in life - if you are willing to put in the work and study how the betting game works and really put some time into it then you can make it pay. If you want to earn money from it then you need to treat it like a business (hope the taxman's not listening!) and put in the time and effort. If you want to just have fun then that's OK too - just don't expect to get rich!

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"Computers can do that????" - Homer Simpson

EI ,

Couldn't agree more about being told by the "whole world" that punting is "a mug's game".......

I have only ever had 1 part time job in my life , and that was while i was still at school which i finished in 1997.

Instead of going out and having a good time with mates , i saved all my money earned working after school until i was 18 and started betting , KNOWING i could make a working income from it , "it's a waste of time" , "what's the point" , "why don't ya just throw your money away while your at it" were many of the comments thrown my way , but i persisted and always told them it could be and will be done.

Well if some of them could see me now , 5 years later and i am making quite a good income without actually "working" although that is pretty much what i do , i have a desk with all my racing documents and papers and such and i usually spend at least 5 hours a day "working" on certain elements which i usually do mostly manually (ocassionally on the computer , downloading form and such).

So if your prepared to treat it as a business and put in the "hard yards" you have a very good chance of generating a part time or even full time income on the sport of kings.

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Good luck and good punting.

And remember a profit a day keeps the Girlfriend/Wife away.

Testarossa, I know what you mean....

Except it was me with blackjack (about 2 years now).

Now I'm making a VERY comfortable living, have large BRs that I controbute to different forms of gambling, very flexible hours (hey if I want a holiday, I'll damn well have one).

It's when you become successful they all get envious. I have the car, the apartment, the money etc, all at the age of 20. Life's sweet if you're prepared to put in the hard work.

just realised the date of this post....

You all have me very envious, I'm still searching, although just recently seem to be getting it together. But paying tax after 18% or so has already been creamed off the pool is beyond belief!!

I think you will find , that if you where declared as a full time professional punter , the tax paid through the TAB could be lagally declared as a tax deduction just like businesses do when declaring bank fees & Govt taxes, dont forget to declare TAB losses if a loosing year.

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Cheers.

Bhagwan,

I don't think that would be correct - you can only claim deductions for expenses YOU have paid - therefore the tax paid by TAB would not be a deduction. Of course you could claim for losses and all other expenses (form guides, internet access, race course admissions, travel expenses, etc). Of course there is not much danger of any TAB punters being declared professionals - the mere fact they use the TAB would be evidence they are not professional :grin:

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"Computers can do that????" - Homer Simpson