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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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

Dil

Apologies for the delay in response.

I think your view is correct to a certain degree - there is a fine line between gambling and trading. To me, the horses is pure trading, which i would compare to charting in terms of shares and my performance at this is far more consistent than any other (except the ashes this summer on which i had a field day). The football is more a case of spotting value, some of which is based on stats provided by scrip, some is personal gut feel (where ultimately the line is crossed!). A lot of the football trading I do is similar to the way we both traded the lions games - based on opinions that the prices were wrong and hence there was value in doing so (and your undying faith in SCW of course lol). Hence on the panathanaikos game, a side who were 3.3 prior to kick off and traded as low as 1.2 when 2-0 up, were basically then taken to pieces for 30 mins. At 1.8 to win at half time, i thought this was underpriced and hence looked to lay it (i didnt as i got caught up in the arsenal game thankfully as i was wrong in this instance).

When trading the horses I expect a far higher success rate looking for a small number of ticks whereas with the football (and most other sports) the sort of positions i talked about yesterday i am looking at a lower success rate but a higher return on those successes.

Hope this helps, would certainly recommend the course as a lot of what scrip provides is stats based analysis as to where there is value in regularly placing similar bets which over a period of time will be successful.

3 minutes gone AC Milan and its 1-1.

Anyone getting involved tonight - tempted to back Inter vs Rangers

PTH

Real look a bit skinny at 1.3 to me - been struggling of late, especially early in the game (cue an early goal for madrid)

As i said - Raul scores for MAdrid - well done PTH

I was on Real but nothing else for me tonight. I'm having the night off and watching instead. Done enough already this week and need a rest.

odd were not that great on Real and only a small bet so greened up. Money in the bank! :-))

Backed Inter at 1.57, 10 secs later they get a penalty and the idiot hits the post - grrrr

Greened up on the pool v chel game
just need Inter to score now
mind you if they are missing penalties??

pth

get in Milan

Thankyou Milan, another one now will do very nicely thankyou

Evening All,

Just in and tryng to find where I can get in

L'pool v Chel?

Not too keen on that. Haven't got a good feeling on that. Knowing my luck at the moment, it'll turn against me as soon as I get in.

I'll do some watching for now.

just greened up on the inter match, just in case. 3 out of 3 again tonite.

happy chappie :-))