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Tuesday, 8 March 2011

A Day in the Life of a Professional Gambler: Max Redd

What's the time?
Those of us who like to bet, bet for many different reasons. You may bet only every now and then as a form of entertainment. But many people have aspirations to earn a living from betting. I thought you may find it inspirational to understand the kind of lifestyle that awaits a successful bettor.

You may simply like the occasional flutter, just to be sociable. Perhaps you have a pound in the office sweepstake for the Grand National once a year, just to add a bit of spice to the event. You may bet more regularly, to generate a useful second income to pay for life’s extra luxuries.

I make my living as a full-time professional gambler. Today I have a few other business interests, but I was only able to pursue these after going full-time as a professional around ten years ago. The income I developed allowed me more time to look at other ways to make money. If you have thoughts of giving up your day job to go full-time as a punter, I thought you may draw some inspiration from reading about a typical day in my life. I don’t write this to show off in any way. It is simply to show you that with a little hard work and dedication you can escape the rat race, and get paid for something you really enjoy.

0700 hrs: I set the radio to come on at seven o’clock each morning during the week. I don’t have to get up, but I have got into the habit of getting to my desk at a reasonable hour each day. This is a good habit to get into, but I must confess that on occasion I will snooze through until eight o’clock just listening to the radio. It’s not often though, as our three young boys don’t let anybody lie in for long! I go downstairs to my office and turn on my computer to check any emails that have arrived overnight. I have quite a number of members in Australia who bet on UK racing believe it or not. When do they sleep?

0800 hrs: Having answered a few emails, I check my diary to remind myself what’s on for the day. I don’t visit the race courses that often any more, probably only two or three times a month. The advent of internet betting means I can now get great value on the exchanges without having to be on course. But I will probably have a few business tasks I need to attend to. I have some breakfast and see the boys off to school. If it’s a nice morning, I will often walk up to school with my wife. I’m usually the only dad there, and no sitting in traffic for me!

0900 hrs: I have a passion for coffee and before I can really get stuck into the working day I have to fire up our espresso coffee maker and make myself a cappuccino. I settle down for the morning in front of my computer. First I will attend to any unanswered emails from the day before - I prefer to get back to people quickly as I know how frustrating it can be waiting for a response from some services. I may also put in a few calls to stables, trainers, and other contacts.

1000 hrs: My daily message goes out around eleven o’clock each morning, and I have a ten thirty deadline to send my daily selections to my publishers, who manage my membership and web site. From the shortlist of horses drawn up the evening before, I will check Betfair and the Racing Post web site to evaluate the current prices about them. I will eliminate any horses that are not available at a price I consider good value. But often I leave some horses in that I feel may drift in price to offer a more profitable return. The cornerstone of my betting philosophy is to get value in every bet I make. I also scan Betfair to see if any of the race favorites are vulnerable to defeat, and worth laying bets against to lose. Then I finalize my selections and email them through to my publishers, who then broadcast them to my members. ONLY when my selections have first been sent for broadcast, will I place my own bets.

1100 hrs to 1700 hrs: Once the ten thirty deadline has passed, I am pretty much at leisure to do as I please. I try to keep fit by cycling so I quite often go out for a couple of hours on the country lanes close to our house in Tring in rural Hertfordshire. During the summer it is immensely satisfying riding along in the fresh air, the sun on your back, without the stress of corporate life in an office. I can spend time with my wife. Speaking as a man who hates busy shopping malls, going shopping during the week when no-one else is in the shops is a pleasure rather than torture. There are not many days go by where my wife and I will not enjoy lunch out together. Whether it’s a simple pub lunch or something a bit more up market, eating out is something I really enjoy and it’s a pleasure that luckily we do not have to reserve only for Saturday nights.

Quite often in the afternoon you will find me watching the racing in my office. I have my own wide screen plasma TV on the wall which also comes in handy if I want to watch other sports, and a particular soap is on TV and I am banished from the living room! I may visit a race course a couple of times each month to watch the racing, especially when I have a particular interest in a horse that may be the subject of a bet with my VIP service.

I love picking our boys up from school and chatting with them about their day as we walk back home. We will all sit down as a family for dinner at five o’clock, which not many families with mum and dad out at work are able to do. For me personally, this is one of the true blessings my career as a professional gambler has provided me. The feeling of freedom, not just financial freedom, but freedom of choice, is something many people who run their own business will appreciate. There is something empowering that being in control of your life will give you.

1800 hrs: Usually by around six o’clock when dinner is over and my wife starts the process of baths and bedtime, I return to my office and concentrate on arriving at my selections for the following day. To come up with a short list I use a combination of form study, observational notes made watching recordings of TV racing, and a network of contacts throughout the industry. I will usually spend at least an hour on this exercise every day, and sometimes quite a lot more. This is an essential part of my day - my consistency in making a profit is crucial to my livelihood, and also to the members of my racing service.

The boys will show their face around the door of my office, one by one as they get ready for bed, and I’ll give them a goodnight kiss. I check the results of the day’s racing, and usually most of my selections will have run their race by now. I keep very detailed records of all my bets. I know that all betting strategies go through winning and losing cycles, and it is important for me to be able to analyze trends and react accordingly.

Whether I have had a good day or bad at the race courses, my working day is very low stress. I learnt many years since, that horses are not machines, but animals with a temperament, and it does not do to get concerned if one particular day ends in a loss. My main objective is to make consistent profits over the long term. I can attribute my relaxed lifestyle to the fact that I have been able to do this for more than a decade.

2000 hrs: Now the day is over, I can enjoy supper with my wife, and perhaps a glass of wine on our patio watching the sun go down behind the Chiltern Hills. One of the last things I do before retiring to bed is to post an entry on my blog "I’m Betting On The Redd". This article outlines just one typical day in my life, but at my blog you can follow my adventures against the bookies throughout the year. I really enjoy my life, mostly because I know my income will continue just as long as there is horse racing and it is legal to bet on the races.

Are you excited yet? Can you imagine yourself living a lifestyle similar to mine? If not you do not yet realize the vast potential profits that you stand to make in the world of horse racing.

About the author: Max Redd has been making a living from betting on horse racing for over 10 years. He runs the Redd Racing betting advisory service which offers all prospective members a free trial and a money-back profit guarantee.