Betfair trading
Right, new thread on this for those who like trading, either in running or not, on Betfair. Purpose of this thread is to
1. Discuss strategies 2. Alert for good trading opportunities 3. Discuss recent successes failures That's all I can think of right now... |
Quote:
In the end I did have a trade on the Man City game, having failed to get the price I wanted (1.26) I eventually backed them at 1.23 at got out at 1.22 for £370 for £3 profit, not great and I probably shouldn't have got involved in the first place but was convinced that once City announced their side their odds were going to come in, I could probably have got 1.21 but wanted 1.19 or better I backed Murphy in the snooker tonight last night at 1.78, 1.79 and 1.8, looks like I should have waited as he's since been matched at 1.84 but am hoping he comes in to 1.75. Can see a lot of people wanting to oppose Hendry |
Great idea for a thread, Finbar.
As I mentioned, I have been using Betfair for horseracing. The system you used on the City game is known as "scalping" and it means that you can back and lay the same selection for the same stake, as long as the odds on the "lay" side are lower than on the "back" side. You will make money if the selection wins, but will not lose anything if it loses. It's a free bet. Still studying the system and doing small scalps until I get used to it. |
I can't see the point in scalping as you're still dependant on the outcome of the event.
|
Quote:
|
Quote:
|
Quote:
|
Am guessing Brett trades out to have even greens so doesn't care what the outcome is. It's just limiting variation and shouldn't make much, if any, difference over time really.
Guess the free bet method at least gives you something to cheer on but I'll be greening out I think |
As long as you can engineer a 'no-lose- position in the vast majority of bets, and minimise your losses where you have them, then I don't think it makes a difference whether you stand to gain, say 2% one side and zero the other, or 1% on either. As you say, over time it shouldn't matter.
|
Quote:
|
Quote:
Still get a return albeit small, but there is no risk of losing or even breaking even. How it works - I don't know. But it does. |
I've done this stuff a few times.
I do have to ask though, how do you guys look for stuff that you think will come in? Is it just simply by back the favourite and hoping the odds come down? |
You need to be able to spot steamers and drifters but you're more than helped by the graphs Betfair provide. A good starting point would be to look at the projected SP and gauge whether the bet is overpriced or underpriced (for example, SP is 2.00 but current best offering is 2.50 or above).
|
And don't forget that if you have enough money behind you to begin with, just distort the market in your favour.
|
Yeah distorting the market on smaller ones is possible, does carry the risk that if it correct itself quickly you might have taken too short odds
Just put in a request to back United at 1.2, if matched am sure I can lay it at 1.19 or better for a 0.8%ish quick win (probably won't get it matched till Saturday now and have my money tied up till then!) |
The best market for trading in my experience is the correct score market on strong home team favs.... for example Man Utd at home to Pompey
Bet on 2-0, 3-0, 4-0... then when first goal is scored lay off so all green.... it works most of the time anyways :) |
Quote:
|
but unlikely :)
As with any trading you have to take a stand at one point |
You're all mental - horse racing is where it's at.
If you're doing football, play the first goal markets and use statistics to help with the rest. :) |
The only horse racing id trust for serious trading profit potential would be group races, and Ive made quite a bit of money just from backing horses
|
All times are GMT +1. The time now is 11:04 AM. |
Powered by vBulletin®
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.