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How to profit from Betting Exchanges (BEX)     

Scripophilist - 27 Oct 2004 23:40


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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


Fundamentalist - 19 Nov 2005 17:52 - 5931 of 10502

Hi all

Just back from Haydock - a bads day gambling resued by the wife picking up a nice 8-1 winner in the final chase.

Quite amusing, They had an extra big screen at Haydock to show the up to date prices, including in running - nearly all afternoon, the screen was showing either a betfair advert or just the logo as the site was down!!! Also, they had a load of terminals at Haydock for people to bet on betfair - though most i spoke to like me werent prepared to log in on a terminal in public

In one of the early races I had backed Echo Point and saw coming over the second last it was trading at 1.07 on betfair and I knew it was beat!!! I felt a loser twice over cos I knew my bet would lose and that I couldnt lay it!!! Scrip - we really need to talk about me being at the course and you on the computer!!!

Schiff, that tricast you mention, I had backed the 2nd place horse and 2nd and 3rd in a Forecast - grrr!!!

Could tell from the money that Penzance wasnt fancied (though as far as youre concerned he got home safe and should come on for the run) - there was some big lumps for the Admiral which got back up in the str8 - Faazel would have traded very very low in running if betfair was up

Fundamentalist - 19 Nov 2005 18:37 - 5932 of 10502

Off out for dinner - see you all for the cricket at 4.30am?

Scripophilist - 19 Nov 2005 20:23 - 5933 of 10502

"Scrip - we really need to talk about me being at the course and you on the computer!!! "

I agree, would be good. Q1 sees Kempton Park and Ascot coming back on line. So I will have those, Newbury, Windsor, Salisbury as my local courses plus Epsom, Lingfield and Sandown Park a little further away. So I am planning to go to some courses and have a look at what latency there is between that and the market.

Fundamentalist - 19 Nov 2005 23:01 - 5934 of 10502

Scrip

Asumming the betfair prices on the screen were real time - in 6 races today there were 2 you could make a killing. The first, Echo Point was 1.07 in running and beat and it took 4 or 5 seconds before it got to 1.2!!!

The other was the photo between Admiral and Faasel - whilst not available on betfair (site was down) having watched live Admiral was a 1.01 shot - it won by a clear head but over 3k was matched over 1.5 on betdaq!!!

It would also have been feasible to have laid Kicking King at odds on - off the final bend he was the worst looking of 3 contenders yet 1.53 on betfair

I dare say a fair bit depends on race reading ability but would certainly like to give it a go

The only concern i would have is i struggled to get a phone connection all day (as Sputnik will testify having tried to call to find where we were)

Scripophilist - 20 Nov 2005 08:07 - 5935 of 10502

Most bookies phone back orders when on course and I am aware of a few teams that work the courses together phoning orders back. Worth a try even if it only dismisses it as a blind alley.

schiff - 20 Nov 2005 10:48 - 5936 of 10502

With the problems on Betfair yesterday, I am wondering whether their experiment of streaming a live Italian match this afternoon right in the middle of racing is such a good idea. If the match proves to be watchable as a spectacle perhaps punters won't place as many bets!
Going to have a look to see what it's all about.

Fundamentalist - 20 Nov 2005 11:52 - 5937 of 10502

Towcester off, Aintree inspecting again at noon

Fundamentalist - 20 Nov 2005 12:08 - 5938 of 10502

Aintree passes inspection

bakko - 20 Nov 2005 13:20 - 5939 of 10502

Just been trading one of the most amazing tennis games..... Federer v Nalbandian in the final of the master's cup. Over 10m traded!

Federer evenually lost 3-2 with the final set going to a tiebreaker! I was scalping Fed in the first 2 sets when he went 2-0 in sets up then got caught out on the wrong side when Nalbandian stormed back and was leading 4-0 up in the final set. Federer looked dead and buried having had the trainer on a few times. Nalbandian was trading as low as 1.01 at which I decide to go and sit on the loo. On my return Fed was ahead at 6-5. I then was able to green up.

Could have been a disaster for me but fortunately ended up on a profit.

Lots of money made and lost as prices on both players swinging all over the show!

Harlosh - 20 Nov 2005 13:24 - 5940 of 10502

Was sitting on the loo a symptom of your P/L Bak? LOL

Glad it went your way in the end.

bakko - 20 Nov 2005 13:30 - 5941 of 10502

Yep....At least it worked out OK

I must cut out these reckless trades!...Famous last words. LOL

Fundamentalist - 20 Nov 2005 14:24 - 5942 of 10502

Well done bak

just had a shocker my end - lost my internet and phone for a few minutes - cost me heavily :-(((

Harlosh - 20 Nov 2005 14:25 - 5943 of 10502

Really sorry to hear that Steve.

bakko - 20 Nov 2005 14:33 - 5944 of 10502

Steve, Sorry too. Hope you recover it asap.

Harlosh - 20 Nov 2005 14:55 - 5945 of 10502

Spurs throw it away in the dying seconds.

Fundamentalist - 20 Nov 2005 17:47 - 5946 of 10502

Cheers Guys

Sh*t happens - the dog thought it was xmas - he got a second trip to the park for an over an hour to keep me away from the screens and chasing. Have turned off till the cricket starts in the morning - only made a small profit on it yesterday as wasnt awake (too much cognac lol) when Pakistan price went above 6!!!

Planning a 4.30 start tomorrow and looking for some early wickets with the new ball otherwise there will only be 2 potential results (Draw/Pakistan) and will also mean England cant win the series

Fundamentalist - 21 Nov 2005 10:37 - 5947 of 10502

Just been a large explosion in Pakistan at the cricket - appears to have been a gas tank by the boundary edge but a few scary moments

bakko - 21 Nov 2005 10:53 - 5948 of 10502

Glad nobody was hurt but with the delay in play at least I benefitted from the draw odds shortening as backed at 2.22

Fundamentalist - 21 Nov 2005 10:54 - 5949 of 10502

I had a lay order in on the draw at 1.8 which got taken out so greened up at 2.0 10 mins later :-)

draw price looks very short to me and looking to lay again

Fundamentalist - 21 Nov 2005 10:56 - 5950 of 10502

Not laying yet as the umps look concerned about the light already - certainly much darker than yesterday
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