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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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.

:-)

Great story Scrip.

I was sitting in front of the PC with AB Pro up and running. Had finished trading the race but the race hadn't yet started so I decided to clean the ball of my mouse. I turned the mouse upside down, removed the cover and commenced cleaning the dirt away - all the time inadvertantly and blissfully clicking away on the mouse. When I looked up I was horrified. Talk about panic. Managed to redeem things a little in running but it cost me a lot.

Evening guys

know the feeling - so far my cat has laid a horse twice and the dog has managed to back arsenal (always thought he was an overly clever puppy) - the perils of a touch pad!!!!

How did they do ?

the cat wasnt too lucky but the dog backed a sure winner!!!!!

lol

Backed the draw in the cricket at 1.59 - hoping for time decay of money whilst it rains!!!

Layed at 1.45

will re-enter upon next delay (f/c is for regular showers)

Hi

Can you tell me, please if the intra-day FTSE is based on cash or futures.

Thanks

Diego

Cash but the prices on Betfair just like the spread betting market follow the futures.

Thanks scrip.

Diego

Late running at Kelso has really messed up the afternoon on the horses. I hate it when that happens.

2.20 at wolverhampton - great trading ops there - got 18 ticks!!!!!

another 12 ticks at huntingdon - off out now - good luck all

Any thoughts on the football this afternoon?

Wasn't on the English football this afternoon but I am on the European stuff this evening. Just finished the Barca game and now moving over to the Juve game. No pre match position just watching at the moment.

20m matched on the cricket! I must admit I know too little about this market to make any money on it. Just keeping an eye on it. Nipped in for a few quid but not intending anything else. Just wanted to get a feel for it.

Weird day on the horses. Loads of steamers and drifters. I guess the bad weather caused that a lot? A boon if you were on the right side a mare if not!! Hope you cut your losses and let your profits run!

Mid afternoon I was up 15p for the day. I am pleased to say my performance improved as the afternoon wore on.