I am looking at trading bets on tennis, football and horse racing in particular as these appear to have the most liquidity.
How much background research and how much trial and error is generally needed to trade confidently with some knowledge of how the prices will move? Also how big of a bankroll do you suggest starting with?
The exchanges I am looking into currently are www.Betfair.com and www.WBX.com, however I have read that Betfair has a 60% premium charge for long term winning accounts, does this generally affect traders if dealing with multiple trades daily? I am hoping to get it to a level where I make a consistent ~£100-200/daily profit to supplement my income and continue to work my way up from there.
Any advice is truly appreciated, thank you in advance!