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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Diego, backing or laying odds under 2.0 is normally preferable to laying or backing odds over 2.0. I.E. in your case laying at 5.0 is equivalent to backing the other side at 1.25, but on the other side the liquidity is going to be better and you will normally get a better price. That is not always true of course, but nearly always.

To convert from one side to the other, subtract one, take the reciprocal, and add one.

I.E. 1.25 = (1/(5.0-1))+1 or 5.0 = (1/(1.25-1))+1

This only applies to a two-outcome event of course.

Thanks Scrip, didn't see your post. That clarifies it for me. Thanks again.

Diego

Kayak, I've printed the whole page and stuck it on my wall.

Thanks

Diego

Diego - Betfair provide a handy facility to enable you to see the outcome of a particular bet, which is easier to use than the info in the betting box.

Above the selections, tick 'View P&L', then go to '[Settings]', and in there tick the 'Show a separate future position' box.

Now, as you enter the odds and stake in the normal place, the outcome of that bet - before you place it - will be shown under each selection, prefixed with >>. If you already have figures under the selections from an earlier bet, the new figures will take the earlier ones into account.

I find this facility invaluable. You can play with it without actually placing a bet.

Good point Pip, didn't realise he probably hasn't discovered that.

Thanks Pip - I think that's better. Backed the FTSE will be above 4790.8 by 2pm for 2.1

Diego

Scrip

agree with your comment re the return leg - should be lots of good opportunities

ps - i know its a spreadbet not betfair but went long strauss series runs in the cricket at 440 before the series started - hes gone thru 600 today with 3 innings left

Fundamentalist - I see you're out for a little trot at Cheltenham on 29th :-)

Pip

hopefully i will have got over the shin problems that prevented me from jumping last time out - something to prove again now

Sorry to hear that. I thought the odds were a little long considering you won last time I heard of an outing for you!

Hoping for no late goal on the Real Madrid match tonight. Looking to go green at 1.10

No risk in the trade for me now.

Now green. I think that's the thing I love about Betfair. 15 mins work and a nice payout for nothing really!! Not even watching the match!

Don't like doing that when I can't listen to the game Scrip. Scares me. But then listening to the radio scares me too.

I find it scares me more when I listen to the radio! But unfortunately you need to do it in order to this correctly. I wasn't planning to be on the match tonight I just nipped it to see how it was going and saw an opportunity.

Not much but a worthwhile use of 15 mins.

Don't you just love to see that.

Gives you a warm feeling, This is better!



Haven't bothered capturing many screen shots of late but this one was worth grabbing. I think this was two goals in the first 20 mins just over a minute apart.

Would make nice wallpaper on the computer. Mind you they are my wife's favourite colours. Hmmm. I wonder how many A4 sheets..............

This will make you laugh and show you the other side of the coin. I think I mentioned this at the course. My biggest ever loss on a horse race was not caused by any bad decision making or taking but by my son.

My wife asked me to move the car and a race was about to start. I hadn't greened up but the horse was a red hot favourite so I figured I could get out move the car and green up in running. So I nipped out to the front of the house and moved the car.

Got back to the study and my three year old son was sitting on the computer happily laying the favourite 2500 a time. Thankfully he did back the favourite as well but I was in a pretty hopeless situation.

Chucked him off the seat and quickly tried to rescue the situation as best I could. By the time the race finished I was "only" down around 450. It was a pretty frantic couple of minutes!! Of course this was one race were the favourite stormed through to win easy. No chance of respite.

I have since learnt to press CTRL, ALT, DEL and logout when leaving the computer unattended or to tie up my funds! Thats the sort of issue that never comes out when you paper trade a market!

Here is the culprit, bless his cotton socks. I couldn't be angry with him as it was my fault. However I reserve the right to hold it against him when he is a teenager.

:-)