What You Need to Know About Being a Professional Gambler

[ONEDUNME]

Originally Posted by Wittmann 44

You get commission points on losing plays as well.

Yeah I realise that mate but I was trying to make the point that tax, whereas regular tax goes UP the more you make, in contrast, the "tax" on betfair actually goes down.

[crowie]

Originally Posted by ONEDUNME

I'm not sure that's right Spacecat,although I stand to be corrected, I'm pretty sure you can effectively "sell" shares that you don't have in the hope that they go down rather than up.

I think it's called "short selling".

Yep, you can ODM. As you said you can go short (think its short, can never remember for sure though) and sell more of the stock than you have in the hope it falls so then you can buy it back/buy what you are short of at the lower price and your profit is the difference.

You can also back against/sell stocks by taking a position in the futures markets. If you think it will fall you sell the futures and you can then buy them back at the expiry of the contract, or any time in between, if your wanting to take any profit. If the price has gone the right way of course

[rockshark]

one of my collegues is a futures trader makes a mint, has a big private hedgefund.

[ONEDUNME]

Is that to pay his gardener with?

[AnothrSpacecat]

ive got a bush