Thread: Betfair trading
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Old 29-10-2009, 10:15 AM
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Quote:
Originally Posted by Louis
I tried this strategy with small stakes on three of last night's (Wednesday 28th Oct) games with strong home favourites - Chelsea, Man City and Celtic. Backed all three at 12pm. Managed to lay them off at 1% below the 'backed' price. Laid Chelsea manually at 6.30pm. Had to log off Betfair at 6.40pm, at that time Man City and Celtic prices were above the price I had bet at, so I left a 'lay' bet to run. The Celtic 'lay' was matched at 7.25pm (before kick off) and the Man City one at 7.50pm (after the game had started and Man City had taken a 1-0 lead).

In the event, Chelsea and Man City won, Celtic lost, and the result was that I actually made 1% on Chelsea, 1% on Man City, and came out even on Celtic. But if Man City hadn't won the game, I might have lost my stake on the City bet. I suppose to be safe, I would have stayed on Betfar, watched the price, and closed the Man City bet before the match. I might have had to lay off at higher than my bet price though, which would have lost me a few percent on that one.
I think it's definitely worth trading out before kick off, one early goal the wrong way and you can ruin everything, the idea is that this is low risk so you have to accept that some trades you will have to take a small hit. Having Betfair on your mobile makes it a lot easier to wait till the last minute to do that though.

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
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