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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No immediate plans yet for something beyound the 23rd at the moment.

Packed up for the day now. Not on the final two races on Wolverhampton. A clean sweep today, no losing positions. I learnt from my experiance yesterday when posting how well it had gone only to muck up the next event!! Nothing like fate to smack you in the chops!

Placed my first bet - lay Chelsea @1.78 (2)

Diego

Good luck Deigo.

I think it will be an interesting match tonight. Unfortunately I will be at a Maths evening at the local school.

I wouldn't attempt to make a call on the match till I could see the team sheet. I guess it will depend if Fergie wants to get one over on Chelsea who are running away with things at the moment.

That's a brave choice Diego :-)

Scrip, Harlosh,

I'm banking on two things - Beginner's luck, and Fergie's determination that Jose won't win the four domestic trophies. But I agree, normally I won't go against Jose. With odds of over 4/1 for a Man U victory that looks good value.

Diego

Harlosh

are you on the game at all?

tempted to lay the draw after half time if still 0-0 - cant see it finishing that way

Got too busy doing some share research - saved me a few quid

Could be a good game for arsenal when the fa get hold of the video - ronaldo swinging arm, drogba grabbing by the throat - should both get 3 games lol!!!

Well, for me it's downhill all the way from here :>)

Diego

Well done diego - nice start!!!!

Well done Diego.

Have you noticed how many matches between ManU and their closest competitors always have a punch up in them?

Best laff was the Chelsea manager complaining to the fourth official that there should have been 3 minutes not 2 added when his team hadn't scored in the previous 92 anyway !

Thanks Scrip, Fundamentalist,

Scrip re ManU and punch up. Why can't they all be angels like Arsenal :>)

At the moment I'm sitting on the edge of my seat waiting for the FTSe to trade below 4793.5 by 11am.

Diego

Looks like you got that too!

What price did you get?

Scrip only just!!

Could you please explain something. The trade I entered in at about 10.15 was to Lay 2 '4793.5 and above' for 5. At the bottom of the window it said my profit was +10 and my liability was -8.

Now forgetting commission for the moment, I thought on this trade I would make 10. Now when I pulled up my account statement, all I can find that's been added to my account was my 2 less 10p commission. Where did my profit go?

Diego

Diego,

If you laid for 2 the maximum you can win is 2.

Your liability would be 8. (4x2) remembering that 1 of the odds is your stake.

Can't understand where the 10 comes from.

Fundy,

Sorry, wasn't around last night. Just didn't fancy the game, so I took the opportunity to surgically remove my backside from my computer chair. It's been stuck there since Scrip's course :-)

2 @ 5 would be (On the lay side)

2 profit
When you lay the amount you lay is your potential profit

10 liability
You are offering 10 on the table at 5-1. The backer would put 2 down to win 10 or 8 net of their stake of 2

So in total your max upside is 2, your max liability 8 (10 on the table at 5-1 equals 5-1 less 1 for the backers stake). Does that make sense?

I was thinking of publishing on my web page a guide to the basics of Betfair. Would probably help people come to grips with it quicker.

Thanks Harlosh - I think I see. I have to mentally unwind from the concept of 'back bet' (ie, being a punter) and remember when I make a 'lay' bet I'm acting as a bookie. I'm not sure where the 10 came from either. I think that's what confused me. On reflection, I think that was a very, very poor bet. FTSE was trading around 4790 with just under an hour to go. I definitely need Scrip's course.

Diego