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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


WOODIE - 20 Dec 2005 13:14 - 7221 of 10502

hi fundy agree another sad loss to the sport,ps well done on yesterdays winnings.

Fundamentalist - 20 Dec 2005 14:00 - 7222 of 10502

has Mr Floodlight in the 2.00 only got 3 legs ?

Fundamentalist - 20 Dec 2005 14:59 - 7223 of 10502

Kallistas Pride in the 3.00 also looking like its a leg short

Scripophilist - 20 Dec 2005 15:38 - 7224 of 10502

Not a bad day over here, better than yesterday for sure. Couldn't put a foot right yesterday.

Fundamentalist - 20 Dec 2005 15:41 - 7225 of 10502

Scrip

didnt trade the horses yesterday but having a very good day today

fyi have just responded in the general betting forum to someone asking for advice re Betangel - hope you dont mind i mentioned your username - you may want to pop a message to the poster

Fundamentalist - 20 Dec 2005 15:44 - 7226 of 10502

For anyone who traded the snooker frame by frame and thought that was crazy have a look at the leg by leg betting in the darts - its absolute madness the prices some people are taking for large money, some good value if you have any idea but would recommend only very small stakes and avoid backing short prices (unless im the one offering them lol)

Cloudbase - 20 Dec 2005 16:49 - 7227 of 10502

Afternoon all, Fundy, will take a look at the darts used to play many years ago but out of touch now. Well done on yesterdays trading, an excellent result. Have you any links on the webb to the various sports or do you just use Sky? Now for the ? that will appear stupid to you experts, but be gentle with me!
If i back an market for say 5.0 and it comes in to 3.0 will laying same amount lock in the profit or do i have to green up?

Fundamentalist - 20 Dec 2005 17:17 - 7228 of 10502

Cloudbase, the easy one first, laying the same amount will effectively give you a free bet on that line so you then need to green up.

ie back 100 at 5.0 and then lay 100 at 3.0 will give you a profit on the line of 200 (100 * (5-3)). You would then lay for 200/3 ie 66.66 to green up

As for the sports, i use a variety of sites and if i cant find the site that gives me the info then i will look on the forum as there will often be a thread with someone asking for a link. If that fails then i rely on google :-)

Sites i mainly use:

General:
http://news.bbc.co.uk/sport
http://home.skysports.com/

Cricket:
http://www.cricinfo.com/
http://www.howstat.com.au/cricket/home.asp

Rugby:
http://www.planet-rugby.com/
http://www.ercrugby.com/

Horseracing:
http://www.racingpost.co.uk/news/home.sd

Snooker:
http://www.worldofsnooker.co.uk/stats/



Fundamentalist - 20 Dec 2005 17:19 - 7229 of 10502

Sorry, forgot golf:
http://www.pgatour.com/
http://www.europeantour.com/

bakko - 20 Dec 2005 17:24 - 7230 of 10502

Cloudbase

Laying the same amount at 3.0 will lock in the profit but only on the player/team you are trading on. Any other result will mean you'll win nothing (you'll lose nothing too).

It is better to green up so that your profit is spread out on all outcomes.

To do this add up your profit and loss outcomes and divide the whole amount by the lay odds.

eg. Suppose you're on a darts match and you back player A at back odds at 5.0 with 10. Your profit/loss line on Player A will read +40 and Player B -10

Add 40 and 10 together (50) and divide by your lay odds of 3 and it should give you a "green" profit of 16.67 on both outcomes

I hope this manual greening is correct as I use the auto green up instead

Fundamentalist - 20 Dec 2005 17:27 - 7231 of 10502

Bak

"I hope this manual greening is correct as I use the auto green up instead"

Surely its 50-30=20/3 = 6.67 profit

bakko - 20 Dec 2005 17:39 - 7232 of 10502

Steve...Your right! I thought at the time a profit of 16. 67 was a bit on the optimistic side!

Cloudbase... Apologies for being thick!

bakko - 20 Dec 2005 17:48 - 7233 of 10502

Anyway, re the darts you mentioned earlier. Certainly agree that the movements are hugely volatile!

I dabbled in this market this time last year during my learning phase and won and lost about 200 in next to no time! The movements frightened me off!

I'll be trying it out again this time around but will be greening up asap.

I find that it works very well when players are of similar ability and when they're both struggling to finish on a double.

Cloudbase - 20 Dec 2005 18:32 - 7234 of 10502

Fundy, thanks for that, so once the profits taken you then need to green up to lock it in? sorry for the dum ?'s but betting this way all new to me, makes scalping the index futures look like childs play lol.

Cloudbase - 20 Dec 2005 18:41 - 7235 of 10502

bakko, thank god for the auto green up, would soon have my desk knee deep in paper working it out

Scripophilist - 20 Dec 2005 20:20 - 7236 of 10502

I can't remember if you said you were on basic or pro at the moment but I just recorded a basic video which explains the whole thing from front to back: -

http://www.betangel.com/products/BA/betangel.html

Dil - 20 Dec 2005 20:34 - 7237 of 10502

You got an Equity card Scrip ?

:-)

sealed - 20 Dec 2005 20:40 - 7238 of 10502

LOL!

Fundamentalist - 20 Dec 2005 22:02 - 7239 of 10502

Dont you just hate nights at the pub

Been with a group of man u fans who asked fopr the neutrals opinion and i said "think theyll struggle early, prob be 0-0 at half time but theyll win easy in second half" when asked to predict the final score i went for 3-1 - oh well it won me a pint lol

Fundamentalist - 20 Dec 2005 22:15 - 7240 of 10502

World no 1 Llloyd just been knocked out of the darts - nice odds collapse on Taylor
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