I was just reading an offer I got in my email. It’s about using a bot to automate Betfair trading.
Basically you download a file to the bot and the bot runs on autopilot making you money every day.
I have actually, in real life, done two of these schemes.
They can work, that’s for sure, and I am not here to say they don’t.
What I am here to recommend is that you do a lot of due diligence if you are tempted by them. In particular find out what the daily pay out has been over the last few months and work out the likely variance (i.e. count how many days you will lose against how many you will win).
I also recommend that you train yourself in long term profit making mind-set and the basics (at least) of Betfair trading. Don’t just go into it with no knowledge and no game-plan because you think the bot will do everything. It won’t, and you need to be able to understand what is happening in case things go wrong (i.e. be able to formulate an exit strategy).
The offer claims to pay out almost every day but in my experience the pay out rate is no different to any other gambling scheme.
You will need a bank, you will need a long-term outlook and you will need to keep your eyes on it like a hawk.
Don’t forget you will have to pay a monthly fee (probably) for the file, but you will also pay a monthly fee for the bot itself.
You will have to earn more than those costs each month before breaking even.
Using bots can be a nice way of earning an almost passive income but don’t dive in with your eyes shut.