As a busy mum, juggling family life and career is no easy feat. If you’re looking for a flexible and profitable side hustle, Betfair trading might be just the ticket. It allows you to make money from home, set your own hours, and learn a new skill — all while still being available for your little ones. Here are the top five strategies for mums to get started in Betfair trading.
1. Start Small and Learn the Basics
Before diving into trading, it’s essential to understand the basic concepts of Betfair and sports trading. Unlike traditional betting, trading on Betfair is about backing and laying bets (selling bets to other punters) on a betting exchange. The goal is to profit from the fluctuations in odds rather than just predicting the outcome of an event.
Don’t rush to deposit a large amount of money. Start with a small bank and treat it as a learning experience. If you want to speed up this learning curve, structured guidance can help tremendously. My Betfair trading course provides a step-by-step approach, specifically designed for mums looking to make the most of their time and efforts.
2. Focus on One Market
As tempting as it may be to jump into multiple sports and markets, it’s a good idea to stick to just one market when starting out. Whether it’s football, horse racing, or tennis, focusing on one sport allows you to study its patterns and gain deeper insights. As a mum, time is precious, and honing in on one market saves you from getting overwhelmed.
3. Use Automation Tools
As a mum, multitasking is your superpower, but you don’t need to do it all on your own. Automation tools can help you execute trades while managing your day-to-day mum duties. There's a range of third-party software out there, I personally use Geek’s Toy which allows me to set up automated trades and manage my risk.
4. Set a Routine and Stick to It
Time management is key for any mum looking to trade on Betfair. Whether it’s during school hours, nap time, or after bedtime, carving out a routine for trading will help you stay consistent. Establish a daily or weekly schedule where you can devote focused time to learning, analyzing markets, and making trades. Consistency is what turns trading into a profitable side hustle.
5. Manage Risk Like a Pro
Risk management is crucial in Betfair trading, especially when you’re just starting out. Since trading can be volatile, setting limits on how much you’re willing to lose per trade is essential to protecting your bankroll. A good rule of thumb is the 1-2% rule: never risk more than 1-2% of your total bank on a single trade. This ensures that a losing trade won’t wipe out your entire balance, giving you room to learn and recover.
Final Thoughts
Betfair trading is a fantastic way for mums to generate an additional income stream while keeping family life the priority. Start small, focus on one market, automate where you can, create a routine, and manage your risk carefully. With patience and persistence, Betfair trading can turn into a rewarding side hustle that fits seamlessly into your busy life.
Ready to take the next step? My dedicated Betfair trading course for mums is designed to give you the tools, knowledge, and confidence you need to succeed. If this mama can trade, so can you! Still need persuading? Check out my eBook for less than the price of a coffee!
Hey there! Just a heads up — this page may contain affiliate links. This means if you click on one of them and make a purchase, I may earn a small commission at no extra cost to you. Your support helps keep This Mama Trades running, and I truly appreciate it!