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The video that attracted the most viewers is this, so I guess it will appeal to you the most as well. I found betting exchanges in I used to bet the regular way in online bookmakers till then and like most, I initially found it difficult to understand what is going on in a betting exchange.
A total chaos that drove me away in the beginning. Little did I know that I would return a couple of weeks later and become a full-time sports trader! That happened when I bumped into a video online, where a sports trader explained how he was making money by trading horse racing betting odds. He bragged that he rarely had a losing day! Finally, after watching his video over and over again, I pulled the plug and deposited my first euros in Betfair.
That was my first and only deposit I made in the betting exchange. The kind of trading that Adam showed and I built my skills upon, is called scalping. Scalping is trading miniscule odds movements, making small but constant profits.
Yes, scalping is trading on steroids. You need speed for scalping. No, a 24Mbps internet connection does not guarantee the speed I am talking about. Ever played a video game online and experienced lag? Now comes the best part: I began scalping with a 56Kbps dial-up internet connection.
Odds were refreshing every 2 seconds minimum. Talking about dark ages. Even under those circumstances, I managed to double my bankroll during the first month of sports trading. Yet, it was obvious I was handicapping myself. Upon installing a broadband internet connection a month later, my winrate skyrocketed. I did have losing days, but never did I have a losing month , like Adam.
Skillful traders could actually make money in almost every horse race! The best handicappers and sports bettors could not beat that. The best sports betting strategy can have days in the red. Sports trading was an entirely different beast.
You made bad predictions, you chased your losses or you had bad internet connection. I cannot think of another reason to lose money. Thus, if you do not cut your losses early on, you are not scalping but gambling. In fact, there is another reason to lose money in sports trading before the horse race starts, but I needed a headline instead of a bulleted list to address it.
But why would you do that in the first place? Whatever the reason you are willing to let a trade go in-play, restrain yourself from doing it ever again! Accept your loss, take your one-tick-less profit and move on to the next horse race. Trading never ends , the next opportunity is just a click away. As little as possible! Since you are reading this, I assume you are at best an amateur when it comes to sports trading. Therefore, you should invest the minimum amount of money until you become familiar with sports trading.
Because, as they say, you are going to lose that money — consider it a tuition towards your trading studies. So, why spend much when a few hundred dollars can teach you the same lessons? I myself began with just euros, although I had studied about financial trading and chart analysis, while have proven myself that I was disciplined enough in gambling. What makes you think you are going to win from Day One, without ever reading a trading book? Remember that practice beats every book, but you do need some background to get your feet off the ground.
After allocating a specific amount of money for your trading endeavors, you should manage that money properly. How to do that? Then come back. Ok, now you know perfectly well what I did, in order to become a successful sports trader and get interviewed by popular sports websites. In fact, this particular interview of mine has become quite popular and you can find more details of my sports trading career in that post.
Gambling and investing usually present themselves with many money-making opportunities. Unfortunately, those opportunities do not seem to last for long. When word is out and more fishermen jump into the pod, fish become extinct.
On the other hand, old strategies fail while new ones prosper! More traders with fast internet connections joined the party, more astute bettors converted to traders and more sophisticated trading systems emerged to beat the old-fashioned ones.
I had to evolve, much like I evolved after casinos barred me from playing blackjack due to me card counting. And that is the curse of a professional gambler: Adapt or die. I adapted by taking a look at another opportunity emerging at those times. That opportunity would allow me to go back to playing cards again.
Read my poker story here. Now, if the game was level at half time and if the odds were to change, say to around 2. We wholeheartedly recommend you choose the software option. The implications of being able to back and lay on the same event — which bookmakers are not fond of, to say the least — have profound effects. Green-up To trade for profit across every selection. Tick This is the difference between available price increments.
The value of a tick depends on the size of the odds. At prices lower than 2. Above evens is is 0. Usually defined as the practice of making a number of back bets on a given market, dutching is a sensible way to spread a given stake over a multitude of selections to hedge against the risk of a single, isolated bet on that market not coming in.
This means that you, as a trader, could potentially back every selection in a market, and still make a profit, assuming that you backed at prices that gave the book an under-round, rather than an over-round. The theoretical price of each horse should be such that if you laid each horse with a certain differential stake, your winnings and, indeed, losses would come to zero, regardless of which horse won.
Yet, if you were to back each horse at an average price above 4. As the name suggests, this strategy has you placing a lay bet on every selection in the market — usually a horse or greyhound race — with the hope that you can catch enough trades at the right prices to ensure that you make a profit, no matter what the outcome of the event. The usual way in which this strategy is implemented is by placing orders across the market at odds below 2. This way, if a minimum of two selections are taken up, then a profit is guaranteed.
If you are lucky enough to get more than two selections, then the profit rises, quite spectacularly. On the face of it, this approach to trading appears to offer lucrative rewards with a very simple strategy. The experienced trader will tell you that a deep knowledge of racetracks and their peculiarities is the secret to unlocking the lay-the-field conundrum; as they say, fools rush in where angels fear to tread…. There are several different ways you can trade and these vary based on what it is you are trading as odds react differently in different markets:.
This is the term used to describe very short term backing and laying of just a few ticks apart in quick succession to tie in small profits. It is best done in markets where the price is fast moving and trades will usually only last seconds rather than minutes. An example of this would be to back under 0. This is the most common method for trading on Betfair and still requires the movement of odds, but at a greater movement of odds, similar to the first example we showed you above.
The risk on this is usually a lot greater as you are usually relying on an event of some significance or a draw out decay in the price to occur. You will have often seen a price decrease close to kick-off in football as punters look to get their money on a particular selection. Perhaps the biggest thing to consider is that when you trade solely on one market, the commission that you pay is based on your total profit on that market.
So you will pay more commission, and is something to factor into your calculations. Betfair offer such a range of markets, especially in football that essentially offer the same possibilities, but just have a different way of stating them. And what you will find is that some markets offer better value than others even though they are essentially the same thing. For example, if you lay Correct Scores , , , , that is essentially the same as laying under 2. However, whilst this is something to be aware of when you gain a greater understanding of trading, it is important to know that the opportunities to profit here are decreasing.
Betfair have developed a cross market matching tool that takes advantage of liquidity in one market and uses it to seed another. This constant sharing of resources between markets acts to make the price more consistent across all markets. This is used across all football events, but just for a selection of markets.
It is unclear how Betfair will look to develop this in the future. When you first get started on your trading journey, the most important thing is to set aside a bank for trading. This may sound negative, but it takes time and patience to learn how to trade and there is a good chance that you will lose a lot of your trades whilst you navigate your way through the markets.
It is important that you detach yourself from your initial deposit emotionally as your mindset is vital to long term success. If you already use Betfair for general betting, look to do that activity elsewhere and keep your bankroll solely for trading. It makes tracking both your trades and your progress far easier. There is nothing worse than your computer or internet failing and you having to wait to get back online to check a trade. So a mobile phone where you can scratch a trade in the event of an emergency could be a life saver.
In this day and age with a plethora of sports available, it is easy to get over enthusiastic and trade across numerous sports. All this will do is confuse you, so pick a sport that you understand the most as this will speed up your learning process. Once you become a master of one sport then you can look at other sports , but no sooner.
Youtube videos also are a great way of furthering your knowledge and you can watch videos with various different levels of difficulty if you need a visual example of how to do something. You could quite honestly write an entire book on different trading strategies, so this is where you need to do the hard work. There are hundreds of different videos on YouTube, various books, internet guides and discussion forums on the subject.
So make the most of it! One thing to remember is, the smaller the market s you pick to specialise in, the bigger your advantage could be. However, there is less information out there to learn about it. Pre-race scalping — If you watch a market before a horse race you will notice that prices move in small increments allowing you to trade and make small profits quickly if predict the correct movement.
Profits will only be small from each trade but they will build up! Back to lay horse races — The key to this is to spot horses that will start fast. You back the horse pre race as near to the off as you can and then lay it once it goes ahead early in the race and the price decreases. Swing trading a horse race — By understanding the markets and how the graphs move you are able to determine price movements and trade large swings in price. Lay the draw — The most common football strategy.
This is done by laying the draw and then re-backing it when the favourite scores and the draw price increases. Trading team news — Your knowledge of teams has to be spot on and you need to be quick off the mark. But there are lots of opportunities for price movements when a stronger, or weaker starting line up than is expected by the markets is announced.
Twitter is your friend here. If you are a Sportsbook gambler, you will probably be in the mindset of hoping every bet wins and seeing it out to the bitter end. But in trading, you are largely betting on small price movements rather than results. So if a price starts to move negatively, your number one goal is to scratch the trade, protect your bank and move on.
The overall strategy that you use will be the ultimate factor that determines when you exit your trade. If you are scalping, your exit point will be just a few ticks away from your entry point. In fact, you will probably be best off placing the potentially winning exit trade straight after your entry has been matched.
There are a few reasons why this would be beneficial. Firstly, it reduces the risk of you losing your discipline and getting carried away, allowing your trade to continue and increasing your risk. When you place your bet you must wait for all the money ahead of you in the queue to be matched before your bet is taken. But should the price move in a negative direction, have a set about of ticks that you will exit the trade at and stick to it at all costs.
You must work out for yourself what the best value is for you to exit at, but over time you will adjust these figures to ensure you are in profit. It all depends on the percentage of winning trades you execute. And if it moves in a negative direction for a pre determined number of ticks, get out. When it is headed in the correct direction, just ensure that that you monitor the graphs and volumes traded so you can spot when the price has settled.
One of the best ways of determining your exit point is to look at your previous bets which you should have recorded. Look for similar trades you have completed, and this will give you a better understanding of how the price moves when you are confronted by a similar scenario. When making your post trade notes, it always worth monitoring the price to see where it ends up after your trade and adding a comment on whether you was correct to exit at your chosen point.
You will never be right all of the time, but a loss or an imperfect trade is nothing to beat yourself up about.
But the more you learnt, the easier it became. Trading is no different. Horse racing markets on the other hand, behave very differently, with many more opportunities to place a successful trade. The best advice I can give you is to look out for those vulnerable points and work out where the value is.
The horses are parading at the start of a race. Not exactly unheard of, is it? In this situation, whoever lays that horse first is going to be looking at a profit, because the price will drift, sometimes very aggressively. Not me! As a rule of thumb, the worse the horse plays up, the bigger the price movement will be. Common sense right? This charge was the catalyst that encouraged me to write a full guide some time ago; The Pre-Race Trading Guide.
There are a few resources online, but generally speaking, not many are worth listening to. Betfair themselves have a learning directory where they endorse a few proven professional traders. There are several books and courses on offer….
A guide, presented in PDF format explaining how the exchange markets work, what influences them, those involved and how to position yourself on the right side of probability. The guide also includes two supporting videos and any future updates, which are all updated within a personal user dashboard.
His Tennis Traders Guide is much like the Pre-Race Trading Guide although covering a different style of trading, made to fit for the tennis markets. The guide also comes with a bonus video, featuring full annotation.
The video alone is worth the cost of the purchase. Trading is a little more specialist than other methods discussed on this site. However, with additional perseverance, the potential is far greater. Matt Kirman — Matched Betting Blogger.
With our experience of using the exchanges, trading is something that a lot of matched bettors are curious about. Definitely something to look into…just wondering why are we suggesting the use of betfair over smarkets here? Caan uses Betfair and has included screenshots of a recent trade. I started off with matched betting and ended up building a trading bank out of the profits.
Matched betting was great for short term cash but trading is a skill that will last you a lifetime. I quite like having a trading section on this site. I do think though people need to be aware of how much more difficult it is to make money from trading than it is from Match Betting. The free information on this site provided by Matt and many of the knowledgeable posters has enabled me to make a nice sum of money. I have used a small proportion of this to take a sports trading course and using small stakes to attempt to learn to trade pre off horse racing.
After nearly 7 months, I am still not making consistent profits trading. I only use small stakes so on average I will make more in one day match betting than I will lose in a month of trading. Its impossible to get accurate figures of the failure rate for sports traders on the exchanges, its the same for financial traders. My guess would be this is the complete opposite for Match Betting. For the few that can succeed however the rewards can be life changing, so unlike match betting where you are severely limited to how much you can earn long term due to the inevitable gubbings that will occur, the sky is the limit when it comes to trading.
Finally be careful when you see people posting their profits from trading on other forums I am not talking about this forum , if you look around you will see that on a trading forum recently a couple of what people thought were reputable posters have been caught out. They were using practise mode results play money to represent real money profits, if you try trading you will soon realise that practise mode is nothing like trading with real money.
A note of caution to all matched bettors. Most traders experience occasional moments of profits, but they are soon wiped out by the bad trades. If you still want to give it a shot then use extremely small stakes and see if you can stick to the rules. If you are breaking even after 6 months you will be doing extremely well!
There was a strict criteria for them to do as they have, and spend a portion of their marketing budget in the process. Notice how they opted out of promoting certain others, that would have relished the chance. Matt you read my mind. Is there much more in the videos than the pdf? Is there any point in buying both? Hi Richie. The video package contains the most information, which is reflected in the price. Hi Matt. Quick question.
Your calculator works out the lay stake. Do you have a calculator that works out the back stake if you were to begin a trade with a low lay? I am a successful forex trader and have had a lot of wins with matched betting since I started a few months back. So am looking for ways to make this into another income stream. I did experiment in with Bet Angel doing basic arbitrage with some painfully slow results in the positive direction.
Can anyone give me a lead here on which way I should go, the arbing software is expensive and you need a decent bank due to the cashflow constraints which is no problem but it would tie up a minimum of around 5K if I ran the book like a forex account. Indeed it does. I started Matched betting exactly a year ago, before this point I had never put a bet down in my life! After a few months of opening accounts building a bank and getting gubbed a lot I realised that the whole matched betting thing is definitely limited.
I then started researching trading options. During the last 9 months I have worked really hard on mainly football, I have tried a bit of horse trading and a bit of tennis but struggled to find an edge or reliable system. Anyway there is definitely money to be made trading but it requires a lot of hard work and discipline. Definitely give it a go but I would advise use small stakes and definitely use software.
Oh and learn some maths and become a wiz on xl and you may find your own magic system! Please can u share this knowledge? I progressed from matched betting to sports trading, but the learning curve requires many many hours of reading, video study, practice sessions and discipline! I love the speed of pre race trading — keeps things exciting.
I learnt and still from Caan, reading through all his blog for starters, then watched many utube clips from Caan and Peter Webb but prefer Caans honest, straight to the point, tell it how it is approach. So signed up to his video package and not looked back.
Obviously trading will not suit every personality but if you wanna try it, Caan is a good starting point. Though as Jojo in the thread explains it takes a lot of reading and understanding, hours of reading actually, note taking, watching just learning. Thanks Matt, of course I meant after following all the bonus offers, new offers etc. Stephen Morgan — If you are trading FX then you are going backwards by thinking about sports trading. I have been in sports for less than one, and I am re-quoted nearly every time not exaggerating I go near either a live event or a horse race, sometimes to the extent of having a nervous breakdown.
Frankly, putting any sizeable amount of money near a horse market for trading purposes other than punting, matched betting pre race or being a bookie , provides a level of risk that I am far from comfortable with — the order types are not there, and neither is the liquidity. So he has to get through around races without a horse pulling up, backing out, falling or the liquidity drying up, just to be in positive EV… or even worse, not being at the screen the second it does.
The probability of any of these happening in the long run is fairly acute. Make sure the odds are above the lay bet. Choose your stake and make the profit when the horse does not win. If it does you need that footy team or tennis player to win. Your email address will not be published. Follow me on social: 27, Followers 3, Likes. A trader operates similarly to an arbitrageur but is willing to take on extra risk and bet on events where no immediate profit is possible.
A trader hopes to make a profit by closing out the bet at a later stage at more favorable odds. Closing out a bet for profit involves collecting more money by laying than is paid out when the outcome is backed back. If the event does not occur then no money is lost, alternatively if a trader is able to lay a higher stake at shorter odds than his back stake then he can theoretically guarantee the same amount of profit regardless of the outcome.
On the other hand, if the odds move against the trader he might elect to close out the bet so as to minimise his loss. Trading can be done either before the start of an event or while the event is in progress if in-play betting is offered.
Compared to trading before the event commences, trading in-play usually involves both greater risk and also the potential to make more money. Traders can make money by betting exclusively with betting exchanges or bookmakers, or by combining the two. The trader could lay at a low amount on a betting exchange and then back at a higher price with a bookie or another exchange.
This must be done simultaneously to guarantee a profit or else the opportunity could quickly cease to exist with liquid markets quickly correcting prices and bookies trying to avoid being arbitraged. Most exchanges post the book percentages colloquially known as the overround or "vig" prominently for each market. This ensures that simultaneously backing or laying all selections in a market will not normally guarantee a profit. Occasionally though especially in circumstances where odds are prone to change rapidly exceptions will arise where offers to back or lay all selections will be made that if simultaneously and cumulatively accepted at exactly the right stakes would permit an arbitrageur to guarantee a profit.
However, such phenomena tend to correct themselves very quickly and exchanges generally try to dissuade customers from attempting to take advantage of such circumstances. Even between exchanges, such large price differences are rare, brief and usually involve relatively small stakes. Fortunately for traders, almost all betting exchanges charge commission on net winnings only and charge no commission at all in the event of a net loss. This suits the trader's high turnover, low profit strategy provided he bets exclusively with a single exchange.
The trader therefore runs the risk of having a large unwanted bet on an event if he is unable to close his position before the event starts e. Traders and arbitrageurs are often credited with "seeding" markets with more competitive prices than would be present without them. However, Betfair's imposition of a premium charge in September was seen by some as being directed at the most skilled traders, whom it is speculated trade for a loss very infrequently and thus would otherwise pay little in the way of commission.
In response, rival exchanges have pledged not to introduce similar charges, perhaps in hopes of enticing traders to move their business and capital elsewhere. The fact gamblers can lay outcomes on the exchanges has resulted in criticism from traditional bookmakers including the UK's "Big Three" - Gala Coral Group , Ladbrokes and William Hill. These firms argue that granting "anonymous" punters the ability to bet that an outcome will not happen is causing corruption in sports such as horse racing since it is much easier to ensure a horse will lose a race than to ensure that it will win.
Exchanges counter that, while corruption is possible on any gambling platform, the bookies' arguments are motivated not by concern for the integrity of sport but by commercial interests. Exchanges also assert they are well aware of who their customers are and keep a complete record of all betting activity in case of enquiries, whereas high-street bookies take anonymous cash bets. Furthermore, customers can monitor the odds on the exchanges' user-friendly platforms independently.
Exchanges and the authorities can be immediately alerted should suspicious betting patterns become apparent. Some exchanges have signed agreements with governing bodies of sport including the Jockey Club , with whom they insist they will co-operate fully if the latter suspects corruption to have taken place. Exchanges have co-operated with police investigations when asked to do so, sometimes leading to arrests.
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