Professional trader?

[Derek27]

This job title malarkey is a pain in the ass. It's OK making stuff up in the pub but I've just spent 5mins explaining my 'job' to my solicitor only to be told it doesn't matter anyway its just for their files. So the business card reads..... "hmrc call it gambling but its just buying and selling risk like you do with shares but because I'm not working for a big company it doesn't even count as a proper job"

You can always fall back on Lister's job title in Red Dwarf, when asked for his occupation in court: Bum.

[ShaunWhite]

You can always fall back on Lister's job title in Red Dwarf, when asked for his occupation in court: Bum.

The DWP thought I was one so that should be OK with the HMRC.

[Derek27]

Bolivian Liga de Futbol Professional???

FFS, why does a top league for the nation need to add the word 'professional'? It doesn't even fit in my drop-down box!

[alexmr2]

Refer to the official Betfair ranking scheme based on lifetime P&L

<£0: Keep Trying
£0-10k: Amateur Trader
+£10-100k: Intermediate Trader
+£100-250k: Professional Trader
+£250-1 million: Master Trader
+£1-5 million: Angel of Trading/Betting Angel
£5 million+: Mega Angel of Trading/Mega Betting Angel
£1 billion+: Berry/Badger Trading God

I found the simplest explanation is to say that you do some work with the odds on the Betfair website and they will either assume you work for BF or ask for more details, in which case you can say something along the lines of you update the odds when things change such as a jockey falling off a horse or a football team scoring a goal

[Kai]

Refer to the official Betfair ranking scheme based on lifetime P&L

<£0: Keep Trying
£0-10k: Amateur Trader
+£10-100k: Intermediate Trader
+£100-250k: Professional Trader
+£250-1 million: Master Trader
+£1-5 million: Angel of Trading/Betting Angel
£5 million+: Mega Angel of Trading/Mega Betting Angel
£1 billion+: Berry/Old Centaur employee Trading God

I found the simplest explanation is to say that you do some work with the odds on the Betfair website and they will either assume you work for BF or ask for more details, in which case you can say something along the lines of you update the odds when things change such as a jockey falling off a horse or a football team scoring a goal

Close enough Alex

>£0: Pro Trader
-£0-10k: Unlucky Gambler
-£10-100k: Youtube Trader
-£100-250k: Unders Scalper
-£250-1 million: System Seller
-£1-5 million: Inplay Racing Trader
-£5 million+: The Bomber
-£1 billion+: Martingale Expert

[SteadySlobbin]

Just say you work in the betting industry. That ought to satisfy most people, for now anyway.

[ShaunWhite]

Just say you work in the betting industry. That ought to satisfy most people, for now anyway.

Answers like that illicit more questions than less and could be anything from a cleaner to IT support. The issue is that there are no self-employed "working in the betting industry" jobs recognised by the govt apart from consultancy. It's no big deal really.

The one I use most often is "Retired, living by independent means" 100% true technically and people assume you're just living on investment income.

[SteadySlobbin]

I've rarely been asked to be honest. Though if I am, I just say I work in the betting industry, and ask what they do?

I find that most people are then far more interested in telling me about what they do, rather than further enquiring to find out exactly what working in the betting industry entails.

Though I see what you mean about official documents and when you have to fill in forms and stuff. I just put either unemployed or retired.

[ShaunWhite]

Though I see what you mean about official documents and when you have to fill in forms and stuff. I just put either unemployed or retired.

Yep "retired" works for me. For face to face questions I'll often just say I don't do much these days and being close to 60 anyway that doesn't raise many eyebrows. Getting a credit card is the only difficulty, you can be in debt in a min wage job and get one, but having a substantial bank balance and no job means you can't. You can get round it by effectively fibbing or inventing a shell company but credit is a convenience for additional buyer protection than a necessity so I don't bother trying to get one.

[stueytrader]

Though I see what you mean about official documents and when you have to fill in forms and stuff. I just put either unemployed or retired.

Yep "retired" works for me. For face to face questions I'll often just say I don't do much these days and being close to 60 anyway that doesn't raise many eyebrows. Getting a credit card is the only difficulty, you can be in debt in a min wage job and get one, but having a substantial bank balance and no job means you can't. You can get round it by effectively fibbing or inventing a shell company but credit is a convenience for additional buyer protection than a necessity so I don't bother trying to get one.

Just a question if you don't mind giving your view Shaun - why do you need a credit card if you have a substantial bank balance?
Personally I now avoid credit as much as possible in life (it caused me problems in the past). I don't see the need if you have enough funds of your own, in giving these companies trade?
I know you mentioned buyer protection, but a debit card seems fine to me?

[Thebest147]

My opinion is, you excel in a particular field, been better equipped then the next guy,be a visionary, it is been experienced in you line of work,and finally you don't need to say your a professional anything, let you actions speak for you, personally when I see professional anything it is a warning sign and usually they are professionally shite at what they do

[Thebest147]

If you have patience you could invest money in Russian Real Estate the country is broke but nothing lasts forever time heels all wounds and in time you will be loaded or by Ukraine real Estate,the one thing they aren't making more of is land ,buy at a reduced price worse case you will make your money back, ""keep your head when everyone around you is losing theirs,only then you will become a man my son""

[jamesedwards]

Though I see what you mean about official documents and when you have to fill in forms and stuff. I just put either unemployed or retired.

Yep "retired" works for me. For face to face questions I'll often just say I don't do much these days and being close to 60 anyway that doesn't raise many eyebrows. Getting a credit card is the only difficulty, you can be in debt in a min wage job and get one, but having a substantial bank balance and no job means you can't. You can get round it by effectively fibbing or inventing a shell company but credit is a convenience for additional buyer protection than a necessity so I don't bother trying to get one.

Just a question if you don't mind giving your view Shaun - why do you need a credit card if you have a substantial bank balance?
Personally I now avoid credit as much as possible in life (it caused me problems in the past). I don't see the need if you have enough funds of your own, in giving these companies trade?
I know you mentioned buyer protection, but a debit card seems fine to me?

Better buyer protection. Improved cash flow. Also cashback if you can get the right card.

[Derek27]

I know you mentioned buyer protection, but a debit card seems fine to me?

If you purchase goods with a credit card that doesn't arrive or you get defrauded you can usually claim the money back from the credit card. Debit cards don't have that protection.

[ShaunWhite]

I know you mentioned buyer protection, but a debit card seems fine to me?

If you purchase goods with a credit card that doesn't arrive or you get defrauded you can usually claim the money back from the credit card. Debit cards don't have that protection.

Yep, and hotels or car hire can be a pain especially overseas where the company is also offered protection by the issuer when perhaps with a debit card they're not.