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.

Click here to learn more

So unlucky on Lazio tonight almost got 1k matched just before the third goal went in. Must have missed it by just milliseconds else 30% return for a few seconds work. So unlucky. Did ok anyhow but that was definately one that got away.

Scrip , I laid the draw on the Soton match too , did you manage to cover after the first goal or did you have to wait til the third like me ?

Laid the draw again on after the fifth goal and greened up a few minutes later but the way they were banging them in it was a bit risky.

Forget this silly soccer lark, anyone playing CBB3? Interesting mix of nutters and odds at the moment.

Dil, I was on the phone to Betfair today asking why it takes so long to get the matches unsuspended after a goal (53 seconds it was timed at). A bit of a blank answered I am afraid. Betdaq settled the same match very quickly so the issue is an odd one. You would have thought you could act very quickly but Betfair seem very slow.

I had to wait till the third goal. I was covered on the draw up to 3-3 subject to at least having the opportunity to cover at some point.

Just finished number crunching all the data from November. I need a bigger PC the way this data is growing each month.

I'd like to start a guessing game by way of interest. What was the total of all matched bets on Betfair in November? Any guesses?

Will give everybody till Monday close of business to put a figure up.

Scrip - Ok I'll start first with 25m.

Scrip

Ill go for 180m

will email you later re marketfeeder

290m

Cheers Scrip , unbelievable how fast they can suspend a match , miliseconds , compared to the time taken to unsuspend it.

Belated thanks Sript for the cd. Had a few days on the road which gave me finally the chance to view it. One thing puzzled me - the opening bet is important and I can see your football knowledge gives you the edge there - but how do you decide on an entry in horse racing given your confession of little knowledge?
PS how about a training venue a little nearer the SW.

Kernow,

I know travelling to London for the next course is a pain in the ass but in my view you should do all you can to make it. The potential on Betfair is incredible and should help you achieve your goal a lot sooner than you otherwise would.

1.01 reversal on the 10.00 FTSE on the very last tick. Wasn't in myself either way. Will it be that sort of day?

kernow, For each type of event there are various setups these vary quite a bit depending on the sport that you are on. Also the pre event and in play odds are a different ball game from sport to sport. Some events are stable and slow others are rapid and unstable. The key is to indentify which you are in and then adopt a strategy that exploits it.

Dil, Had a nose at the stats this morning. Chance of a team equalising after one side taking the lead. (First two goals only)

Within: -

1 min - 0.68%
2 mins - 2.55%
5 mins - 6.15%

Where the home team scores first the away team is less likely to equalise quickly and vice versa.

Watch the FTSE...

Cheers Scrip didn't think it happened often.

Whats the percentage of games that end 0-0 ?

Around 8% in total but that varies quite a bit on individual matches subject to the strength of the home and away team. I can actually work out correct scores with a very high degree of accuracy. That is mainly because there are not many goals on average per game so its easier to do.

Just greened up on Mercedes golf championship.
Only small stakes just to get the feel but worked out really well.
I backed two players, one whose odds shortened, the other lengthened.

When I laid the loser it added the stake to the current winnings on the former. I then greened up.

Very weird how it works but I'm not complaining. The more I see of this the more I am amazed.

Just uploaded this:-

http://www.probabilitytheory.info/topics/minimum_stake.htm

For people who are experimenting on Betfair. It will let you place a bet for less than the minimum amount. This means you can throw away your pennies testing strategies or just getting used to the markets.