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Originally Posted by Benjy
Well I dont know if your figures are correct but taking your word for it, it all seems to add up.
However are there any charges for the betting,can you make a 25p bet without any charge? What about transferring the money between accounts and then the commission/charge etc.. on taking the money out over here?
Your scenario is also a BEST CASE scenario, quoted by a website as an example of how easy it can be.
Might be able to make some serious money if you had a large sum of cash, but transferring large sums of cash around incurrs its own charges.
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yes you are right, you will incur charges for moving money around/currency conversions etc...but doing it in a smart way will reduce these charges. You also have to be careful about placing large bets regularly with bookies as they will get smart and restrict your account.
The example listed was from a retired guy who now does this at home not from a commercial website. It is not a best case scenario, that was a real opportunity that was available, and they continue to be available today. I have seen examples of 7/8/9 and even 11% returns. I have seen an example today of an 8% return on the super bowl outcome.
I am definitely not saying this is an easy money making venture, but as I said already there are people who do this full time and make good money, and it sure would be nice to be over here earning relatively easy money tax free!!