How would you like to trade a market where you get large regular price swings every 10 minutes in the afternoon, seven days a week. A
market where all prices are set purely by supply and demand, few transaction costs, no middle men and you only pay commission if you win? Where you can freely act as a market maker and where you have direct market access and where you can create a spread for others to take?

Betfair has revolutionised the betting market and created an open platform for exchanging risk on sports events. This market is now viewed much more like a traditional financial risk market than an old fashioned betting market. Smart users have realised that there are huge opportunities on Betfair because they can buy and sell risk in much the same way they would in a normal financial market but without the burden of cost or the restricted access that is usually associated with traditional financial markets.

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bakko,
do you think the pro edition is worth the ongoing monthly ,s ???

BP, If you're a casual user then probably not but for me it's a resounding yes as I trade on a frequent basis and all my trades are routed through Bet Angel Pro rather than the Betfair platform.

The functions allow me to get my trades in and out faster on Pro which provides me with an edge over the mug punters. There's a host of other features which I dont use, I tend to stick to my favourites.

I object to being called a mug :-))

had another bash at this today. a right balls up. ever "drifter", started "shortening" whenever i put the order in and vice versa... seems so easy on the training videos :-) made the mistake of trying to recover in-play ..carnage.. either book myself on the course, or call it a day I think.

Ok Harlosh, how about a mug then ;-)

I'm sure every week another load of punters comes along who think they can make money from In Running jb. If you incur a loss pre running it is better to accept it and move on to the next race. You may occasionally succeed In Running but in the long run it will take all of your hard earned.

Keep practicing using small stakes and keep your eyes peeled on the weight of money - don't be too hasty. Wait for the right moment.

Where are you Bak? You're not answering on Messenger.

Harlosh - Thanks that is precisely what I ment and how I trade the odds, it works for me 95% of the time.

Been out all day, just managed to trade the last four races, all profitable, I find timing one's entry important, 7/8 mins before the off seems to be the time the odds shorten. I was only in each trade less than 30 seconds before greening up!

Remember all you race traders the name of the game is to eliminate an much 'RISK' as possible.

Have a good weekend guys n gals...

Hi Chartist2004,

Is your system bsed on UK racing or can this be used on US racing as well?

Thanks and have a good weekend!!

wise words spoken here. only small stakes, but made a profit today on each race i traded today.
Was trading on odds shortening and drifting based on the indicator/money in market.
part of yesterdays debacle was caused by me having betfair radio on for the horse race. I had 200 on the back and was waiting for the moment to trade .. thought I had time as the commentators said they were'nt lined up.. then the race went suspended/in-play and predictably my horse fell.

Hi jbarlowffc,

Glad to hear your doing well so far. Let me know how you get on when you up your stakes? I'm assuming it was UK racing you had traded on today?

Cheers,

Iankn73

JBarlow

Betfair radio is not live, it several seconds behind real time on all accounts so be careful using that as your guide to when the race is starting

fundamentalist, thanks yep. agree it is a few seconds behind real time.that's how i got caught out.
Iainkn73 it was UK markets I was doing. Don't think there's enough volume on the US markets to be able to trade. Sunday does not seem to be too hot either on the UK markets.(well today anyway) Still made a few quid. Might have to leave work a bit early for cheltenham this week, as i would assume there will be plenty of opportunities.

Hi jbarlowffc,

Yes I agree the US market seems too illiquid! I may have to leave early also. lol

Good luck,

Iankn73

jb, not necessarily the case, there is not so much volatility in the big meets, though if you want to make some cash lay kauto star win and place!

Guys,

I need some help here to fully understand the back and lay system e.g.

If I have a total of 500 to gamble with i.e. this is also my maximum liability within Bet Angel and I hypothetically decide to back a horse at say 4.5 @ 500 then Lay the same horse at 4.0 @ 500 then green up across the field can this be done or do I need to have the maximum liability to cover the Lay e.g. 500 x 4.0 = 2000 minus your initial lay of 500 would eqaute to me having to have 1500 cash as liability cover within the account?

Any help would be appreciated!

Rgds,

Ian

Ian

In a nutshell, no.

If you back and then lay at lower odds, greening up effectively uses the potential profit you have accumulated. No additional funds required.

pth

Thanks ptholden,

Maybe my question wasnt too clear! I'll start again just to get this into my head. Back to my earlier post 10206: If I lay (4.0) the same horse @ lesser odds to my initial back (4.5) @ 500 will Bet Fair allow for me to carry out the lay transaction as the 500 has already been taken from my account to initially cover my back and at that point in theory I dont have the cash to cover the lay?

I hope you follow me on this one (just a novice I am) can you tell?? lol

best rgds,

Ian

Ian

Because you are reducing your effective liability by placing the lay bet (in this instance to zero) you do not need additional funds, Betfair software takes this into account automatically.

pth

Ian, I echo what pth has said earlier.

However, if your intial trade was to lay 500 at 4.0 with a plan to back back at higher odds then this wont go through as your liability at 4.0 would have been 1500, way beyond your maximum.

Please note that the above is purely an example. I really dont recommend that you lay such amounts at high odds. Your account will be sunk in no time, LOL