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How to profit from Betting Exchanges (BEX)     

Scripophilist - 27 Oct 2004 23:40


ladder.gifBA_Logo.gif


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


HelenW - 11 Oct 2005 09:47 - 5086 of 10502

Scrip. I have sent an email, but posting as well, as I know you get a lot of mail and can't always deal with it. I have lost your phone number - sincere apologies! Would appreciate it if you could email it to me again. Helen

compoundup - 11 Oct 2005 11:46 - 5087 of 10502

Dummy question: Which Sky package is best to obtain coverage for the majority of sports events that are worth trading on Betfair? Obviously there are the "Sports" packages options but how are ATR and other relevant channels covered?

I deliberately avoid a full-monte subscription because the children have enough extra guff to waste time on with a limited subscription to the Knowledge Pack. I'd lose touch with them completely if they got all the other cartoon channels as well.

Has anything changed in the recent re-marketing of packaged access to Sky?

Fundamentalist - 11 Oct 2005 13:26 - 5088 of 10502

Compound

Personally i have the full sky sports package - this basically gives you sky sports 1,2,3 and extra. ATR is free, Racing UK costs 20 per month. I also use Eurosport which is free if you have a general subscription.

They do now have a slightly more flexible way of packaging channels so you dont have to have all of the basic channels though i dont think you save much by doing so (but you could chosse not to have the caroon channels!) Alternatively there is parental control which allows you to block any channels you choose without entering a password (which you dont tell the kids!!!)

If you are going to get a monthly subscription could i be rude enough to ask if you would let me know so i can give you a referral code - it would enable me to get a free Sky+ box - TIA

compoundup - 11 Oct 2005 13:46 - 5089 of 10502

Thanks Fundy, you have internal mail

ptholden - 11 Oct 2005 15:07 - 5090 of 10502

Just a word of warning with regard to creating a book on the first to score in a footy match. I did create a book on the Eng / Aus game having noted that the book was over-round. Having got myself into a no lose situation, I unfortunately made an error of judgement and ruined my previously green book. However, thanks to Lampard scoring first I believed I was still in the money. After the bet was settled I was surprised to note that I had made a loss rather than a profit. Having discussed the matter with Betfair, I am told that should a player not actuall play in the game, that bet will become void. Because Wright Phillips did not play 'his' bet was voided and effectively skewed my book. Even more annoying was the fact that this was not reflected on screen and therefore I had no idea that the whole thing was a pot mess. All in the rules apparently, only a small loss, so not too upset. Yer live and learn. I won't be betting on the 'first to score again'.

pth

PS Scrip, please ignore my email, thanks

Scripophilist - 11 Oct 2005 15:18 - 5091 of 10502

OK, Sorry I haven't had time to respond. I was going to look at the rules on the the mid week match to check before coming back to you.

Be aware that creating a book on a horse race you may have the same issue where there is a rule 4, i.e. a horse is withdrawn. Over all these things balance out on the horses but soccer is probably a bit different.

Scripophilist - 11 Oct 2005 15:18 - 5092 of 10502

Horse racing is a mess today, horses loose, Ayr abandoned, 2nd favourite a rule 4 in the prior race. Hope things get better from here!

ptholden - 11 Oct 2005 15:35 - 5093 of 10502

Doing quite well today Scrip (so far), hope it continues.
Pretty crap cards though.

Scripophilist - 11 Oct 2005 18:13 - 5094 of 10502

Odd card today with Ayr being abandoned. Very often messed up my entry as I think it was Southwell starting five minutes late and I just kept forgetting. 10/12 over all though and one loss was due to a rule four. I would rate that a C+, could do better.

ptholden - 11 Oct 2005 20:05 - 5095 of 10502

No losses on the nags today, although one honourable draw, but 11/12. Tried something of a risky strategy today, which worked, but not something I will try very much in the future. Involved laying a mid outsider, backing in play and then greening up. Taking a chance that due to the large fields today I wouldn't pick a winning outsider. Bit more like gambling than trading I think you would say Scrip? Although I think it is a strategy people do use. One bad pick and that's most of the day's potential profit down the tube.

pth

Scripophilist - 11 Oct 2005 22:03 - 5096 of 10502

PMSL

Woodgate scores second own goal

http://news.bbc.co.uk/sport1/hi/football/europe/4332894.stm

Harlosh - 11 Oct 2005 22:44 - 5097 of 10502

Pth,

Very perceptive of you.

Right on all counts.

ptholden - 11 Oct 2005 23:23 - 5098 of 10502

Harlosh :-))

Dil - 11 Oct 2005 23:25 - 5099 of 10502

From a personal point of view .... hope Sven picks him for the World Cup , ROFLMAO.

ptholden - 12 Oct 2005 17:11 - 5100 of 10502

Anyone on the footy tonight?

ptholden - 12 Oct 2005 17:48 - 5101 of 10502

11 out of 12 on the nags today. Makes up for making a complete hash of the Eng U21 match last night.

Hey Scrip, since I attended the course, I'm doing great on the ggs, but crap on the football, a complete reversal to prior 'form'. What's all that about then?

:-)

pth

Fundamentalist - 12 Oct 2005 18:00 - 5102 of 10502

PTH

thats exactly how i performed after the course and to an extent still do.

the horses is based on a pure trading style irrelevant of any knowledge of the participants and relevant odds, whereas, imo the footie relies to a degree on the individuals view of these components.

not looked at the footie yet tonight but am about to do.

One other thing with regards to the horses is dont get too hung up on just the number of races you win on. I dare say if i was looking for 1 tick per race i could be 100% most days with a bit of discipline but that wouldnt maximise my profits. One thing i learnt after a little while was i was making a profit on a race and at the first sign of a change in trend i got out. I would then sit and watch it continue its original trend and then realise i had exited my position far too early and despite having a high proportion of winners i wasnt giving myself a chance to maximise the value of them. Nowadays my strike rate is slightly lower but my average daily profit is higher.

PS, today out of 12 races i had 9 winners, 2 nil result (of which one i was flat before the race, the other i had a 40 liability) and 1 small loss

Horse Racing: GBP225.55 Total P&L: GBP225.55

Horse Racing Showing 1 - 12 of 12 markets

Market Open date Profit/loss (GBP)
Horse Racing / Weth 12th Oct : 2m4f Nov Hrd 12-Oct-05 16:50 6.78
Horse Racing / Weth 12th Oct : 2m4f Hcap Chs 12-Oct-05 16:15 10.03
Horse Racing / Ling 12th Oct : 6f Cond Stks 12-Oct-05 16:05 4.35
Horse Racing / Navan 12th Oct : 1m Mdn Stks 12-Oct-05 16:00 35.39
Horse Racing / Weth 12th Oct : 2m Hcap Hrd 12-Oct-05 15:40 0.00
Horse Racing / Navan 12th Oct : 1m Mdn Stks 12-Oct-05 15:30 6.68
Horse Racing / Uttox 12th Oct : 3m Hcap Chs 12-Oct-05 15:15 0.00
Horse Racing / Weth 12th Oct : 2m7f Beg Chs 12-Oct-05 15:05 -2.24
Horse Racing / Ling 12th Oct : 1m Hcap 12-Oct-05 14:55 18.06
Horse Racing / Uttox 12th Oct : 2m4f Sell Hrd 12-Oct-05 14:40 57.47
Horse Racing / Ling 12th Oct : 7f Mdn Stks 12-Oct-05 14:20 77.08
Horse Racing / Uttox 12th Oct : 2m6f Nov Hrd 12-Oct-05 14:10 11.95

Fundamentalist - 12 Oct 2005 18:25 - 5103 of 10502

Not a great deal stands out in the football.

Not keen to get involved in the England game with neither side having anything to play for except pride (and possibly seeding on Englands part) and both sides are missing first choice players. That said, the weather in manchester has been appalling all day and 1.84 on under 2.5 goals looks good value.

Of the other games, ROI strike me as good value at 2.46. Italy look good things but at 1.25 are short, and France at 1.05 are ridiculously short for a game they have to win (and possibly by a landslide to top the group if ROI lose)

Scripophilist - 12 Oct 2005 19:54 - 5104 of 10502

Well done on the P&L. I agree on the footy. I'll be having a look at the teams with something to play for such as the Irish and Swiss and focus on those. But just nosing at the moment.

Scripophilist - 12 Oct 2005 20:15 - 5105 of 10502

England are not playing too badly at the moment.
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