Below you will find a detail staking plan that you can adapt to any stake that suits your financial situation. You will also find details on records you need to keep in regards to your tax situation, this is a long term business and needs to be operated in a correct manner.
TAX
As we are all aware any income from gambling is tax free in the UK currently, however you still need to be able to prove were your income came from to qualify for the tax free status. Its actually very simple, simply once per week take a screen dhot of your transaction page, some online bookies actually have the facility for you to download your transaction history, daily, weekly or monthly, in short simply make sure you keep records, We are aiming with the staking plan below to earn a regular income so records are needed.
ONLINE BOOKMAKERS
All pro gamblers use different bookmakes for different purposess, horses for courses if you like.
The fixtures we will be betting on are all major games and will be covered by all online bookmakers, obviously a major factor in these bets is consistency of odds as these are pre match and not inplay, i advise all members to use Bet365 for these pre-match fixtures. However as we progress and your stakes increase sometimes you will find that a bookmaker will actually refuse your stake as they view the risk to large for them, this is not a problem, Betfair have a secondary site built into their standard online website, this is called Betfair exchange, on the exchange you can get virtually any amount accepted, initially for the first year or so Bet365 will be perfect for you to use. Whilst 10Bet are great for inplay I strongly advise against you using them in the Syndicate, your winnings will just not be at the same level as other members as this is Pre-match betting.
So before you place any bets please ensure you have an active Bet365.com account.
TAX
As we are all aware any income from gambling is tax free in the UK currently, however you still need to be able to prove were your income came from to qualify for the tax free status. Its actually very simple, simply once per week take a screen dhot of your transaction page, some online bookies actually have the facility for you to download your transaction history, daily, weekly or monthly, in short simply make sure you keep records, We are aiming with the staking plan below to earn a regular income so records are needed.
ONLINE BOOKMAKERS
All pro gamblers use different bookmakes for different purposess, horses for courses if you like.
The fixtures we will be betting on are all major games and will be covered by all online bookmakers, obviously a major factor in these bets is consistency of odds as these are pre match and not inplay, i advise all members to use Bet365 for these pre-match fixtures. However as we progress and your stakes increase sometimes you will find that a bookmaker will actually refuse your stake as they view the risk to large for them, this is not a problem, Betfair have a secondary site built into their standard online website, this is called Betfair exchange, on the exchange you can get virtually any amount accepted, initially for the first year or so Bet365 will be perfect for you to use. Whilst 10Bet are great for inplay I strongly advise against you using them in the Syndicate, your winnings will just not be at the same level as other members as this is Pre-match betting.
So before you place any bets please ensure you have an active Bet365.com account.
Please read:
Sorry to bang on, but I have had alot of messages about not being able to find the bets/selections and lower than expected odds. When I have pushed the issue, there is one common element with every single one of these messages - they are all using NETBET, despite the warning!
NETBET IS NOT AND NEVER WILL BE THE CORRECT BOOK MAKER FOR OUR SYNDICATE BETS!
Why is this you may ask? Well every bookmaker has a particular strength and 10Bet are very good for inplay markets on the mass of games that they offer - they are set up very specifically to dominate this market.
From a pregame perspective, they have a very long way to go. With lower odds and fewer markets, they will not be able to compete with the likes of the bookmakers we recommend (betfair or Bet365)
It may not sound like much, but over the course of a year - the wrong bookmaker could cost you 10% of your winnings through lower odds! When you look at the stake plan, maximum gains are obviously very important!
Sorry to bang on, but I have had alot of messages about not being able to find the bets/selections and lower than expected odds. When I have pushed the issue, there is one common element with every single one of these messages - they are all using NETBET, despite the warning!
NETBET IS NOT AND NEVER WILL BE THE CORRECT BOOK MAKER FOR OUR SYNDICATE BETS!
Why is this you may ask? Well every bookmaker has a particular strength and 10Bet are very good for inplay markets on the mass of games that they offer - they are set up very specifically to dominate this market.
From a pregame perspective, they have a very long way to go. With lower odds and fewer markets, they will not be able to compete with the likes of the bookmakers we recommend (betfair or Bet365)
It may not sound like much, but over the course of a year - the wrong bookmaker could cost you 10% of your winnings through lower odds! When you look at the stake plan, maximum gains are obviously very important!
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