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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2-1 within 30 seconds lol

Thats my overs bet sorted at at least

Looks like the winner but not very impressive.

Quite pleased with our result - not a vintage performance but to win in Ajax without Henry, Bergkamp, Van Persie, Silva and Senderos is a top result and should now guarantee progress to the next stage

Err scuse me ... as an amatuer who has not been on the course , reading the last say 20 posts aren't you lot just gambling ?

Got a lot of time for Scrip but have delayed going on the course until I have learnt the hard way as I've done in the markets as its easier then to spot your own shortcomings , that said me and Scrip often seem to come to the same conclusion (market wise) :-)

Anyone who has posted this evening who would llike to enlighten me on their stratedgy please email me on dil1704@btinternet.com , fundy your comments would be most welcome.

Cheers all.

Scrip , if you've got 5 minutes tomorrow email a number to the above and we'll have a chat if thats ok.

PS I aint getting up early :-)

Dil,

Would you care to pick out a particular sentence or two to illustrate your point?

Not a lot of value out there so I'm going to wait til half time I think and look for a 0-0 then back the home team.

tempted to lay panathanaikos in the second half, on all accounts been all Bremen since they went 2-0 down early and having got back to 2-1 momentum is with them

Don't get me wrong Harlosh its not a criticsim , I'm looking to learn and re the above posts I've been out all evening and have still not looked at the results so unaware of the outcome.

All the best

Dil

When you email Dil, can you attach a photo of Sir Clive Woodward, his hero. He has a shrine in his Dining Room to him and is trying to collect as many photos as possible. We have done our best by sending posters, books , signed photos etc to help him but he needs more help.

Thanks:-0)

Dil

As far as I am concerned you are absolutely right. At the moment, I am gambling, attempting to judge which way an event will go, hope it goes the right way and then green up. That's why I'm doing the course tomorrow, which should lead to a trading approach rather than the gambling one. Using my knowledge of football to give me an edge, but I'd rather be armed with the benefits of Scrip's course.

No criticism taken :-)

pth

'Not a lot of value out there so I'm going to wait til half time I think and look for a 0-0 then back the home team.'

This was my statement so I'll answer that one.

Most of the home teams were red hot favourites last night, so much so that the odds on offer were as low as 1.2.

In those circumstances I prefer to wait for the match to progress in the hope that the home team don't score and consequently their odds drift.

At some stage at or near half time I would back the home team for reasons which will become apparent on Scrip's course.

Basically I was waiting for the right entry point, much as we do when trading the financials.

Unfortunately for me I did not get that opportunity last night.

Nevertheless, some of us occasionally revert to 'having a flutter' on the odd horse or match. Discipline is as much a part of this game as it is trading the financials and it is one of the hardest things to maintain as we all know. It has been discussed many times before on this thread.

I hope that answers your question.

Pth,

"At the moment, I am gambling, attempting to judge which way an event will go, hope it goes the right way and then green up."

I have to disagree Pth. What you describe is no different than trading a share.

You look for evidence to guide your decision and entry point and, as soon as your trade meets your criteria you take your profits by greening up.

You may need the rough edges smoothing with the benefit of Scrip's course but what you describe is not, in my opinion, gambling.

Harlosh

Understand what you are saying, but one may state that trading shares is a gamble, albeit aided by considered research! Personally, I am not going to get to wrapped up in that particular arguement, suufice to say you are totally correct when you say that you have to judge an entry / exit point based on that research. As far as footy is concerned, my decisions are based on my knowledge of the game rather than the odds offered at the time. probably not quite the right approach, I'll find out tomorrow.

:-))

pth

Edit: At the end of the day, it worked out for me last night, 3 out 3 wins, so quite happy.

I think both come into play P. Knowledge and odds.

Well done last night by the way.

Cheers both , appreciated.

everyone has there own way of playing markets only time will tell if this is the right way for each person

Dil,

Just thought I'll add my penny's worth.

I fully agree with what Harlosh has already said. It's all too easy to associate betting exchanges with outright gambling which I originally did before I attended Scrip's course. At that time Betfair to me was no different to the likes of Ladbrokes and other High St bookies.

Scrip's course certainly opened my eyes to what I could do on betting exchanges.

I certainly look for decent entry/exit points, value, etc, etc. Luckily, I have a decent knowledge (or at least I think I have) of most sports to be able to make my decisions. Yes, I do admit to getting it wrong and losses can be both financially and mentally very terrifying.

Personally, I don't think this is too dissimilar to trading the money markets. We all have our favourite indices, shares, sectors, etc. Entry/exit points are gained from charts with the aid of support and resistance. There are numerous ways to trade eg, level 2 scalpers, daytraders, long term investors, to name a few.

Yes, I do admit to having an outright gamble from time to time, all part of the fun. However, there are mugs out there who use betfair purely as a bookie which I'm grateful for as without their liquidity I can't adopt the strategies that I use.

A life sized and autographed cardboard cut out of Sir Clive is in the post....LOL

For those that are on Scrip's course tomorrow...Enjoy!

When people ask me what I do for a living now I just say, "As little as possible". It's too difficult to explain anything else. My wife doesn't even understand.

I will only get the chance to do three days on the horses this week but in that time I have managed to place 538 bets on just the horses. I think that shows you the difference between gambling and using an exchange to its full potential.

Scrip,

Do you really write "As little as possible" in the occupation line when applying for loans, mortgages etc?

Then again, you probably don't need a loan and you've paid off the mortgage many times over with your betfair profits ;-)

Backing Milan, Real Madrid and the draw for L'pool v Chelsea this evening

I shall mostly be 'trading' ;~) Sibneft fc