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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Laid my money on the draw and traded back on the Chelsea win. A lower win ensured on a draw but only slightly less than before my attempted greening if Chelsea win.

Just noticed that if I laid 100 on Chelsea soon after they scored, for just 10 I would treble my winnings on both United and the draw. Tempting, but a bit too late now.

In summary I would have earnt double if I would have greened up quicker. Let that be a lesson to all newbies!!

Just grabbed some more on that Robben run. Not a bad nights work but pretty bloody frantic activity for me to get it.

All over, I enjoyed that!

Sorry that your team is out Harlosh. Chelsea look like champions through and through. This thread should make interesting reading for any body not on Betfair at the moment.

Yep, it's tempting sometimes to wait to gain a few more ticks too. Sometimes it would work but suprising how often you can get stung. I got caught once. Never again!

You are right of course, Slapped wrists for Scrip. I was obviously getting too emotional tonight and I didn't even support either team! Its pretty simple really isn't it. Have a game plan and stick to it. I am very strict usually and as I had no liability on the match I think I just let my emotion get in front of my better judgement and experiance.

Have you seen the market offered on the general election?

Seems Betfair still think Ian Duncan Smith is the Tory leader. I could lay Blair, Kennedy & IDS to (NOT) ALL be party leaders at the Election. Currently odds of 75.

I would be guaranteed to win wouldn't I?

Evening all

Got dragged out for the evening and missed the fun!!!!!

Glad chelsea won, keep them busy for another game - they should be tired for when Arsenal beat them in the champions league final lol!!!

Know what you mean about being greedy, got bitten on the horses this afternoon - hadnt laid off when the race started (looking for one more tick and forgot the time) and the price only got smaller in running so never did - lost my whole stake - ouch!!!! lesson on discipline needed - still at least it happened on a day when i made a good few quid on the stockmarket

John - any chance you can change the appt or would you have to wait too long? As for the tax return - do you need any help - if so drop me a line.

Let us know on the election scenario

Wish I could Steve.

These appointments are like gold dust I'm afraid. I also see the consultant a couple of weeks after and he wants the results of the scan. I'm a bit sick. Been looking forward to it. We will DEFINATELY do it next time. I hope!

John

looks like saturday march 26th then

"I think I just let my emotion get in front of my better judgement and experiance."

It's comforting to know one's mentor can occasionally be like the rest of us.

Talking of indiscipline.

I listen to the commentary from the Ladrokes website when I'm trading the horses.

Mick Millard mentioned a horse today that had changed the type of fences he jumped over. Said it had a good chance if it liked it's new obstacles.

For the first time whilst playing Betfair I thought 'what the hell', and put a tenner on it for the fun of it.

It came in at 16.5. 155 profit. Very nice. But I won't do it again!!

Steve, that should be OK if it's fine by you thanks. Look forward to it.

Yes, you would be guaranteed a win of 17.1 for putting up a stake of 1332.
What is the opportunity cost of your stake? - it is tied up until the start of voting! - and the election date hasn't even been confirmed yet!

Not the greatest example of sensible money management.

Pinsticker,

Of course your right.

What I am really getting at is if Betfair would honour the trade in view of the fact that IDS is no longer the Tory leader. Because he isn't I couldn't lose unless there was something in the small print which allowed them to void markets placed in error.

Mind you the Tories could always re instate him as leader. Yawn!

Re : The general election there is a market on the date of the general election and it is heavily bias to Q2 so you can hedge the position out using that position to guarentee a winner. It's a bit like the US presidential election example I gave at the course.

"It's comforting to know one's mentor can occasionally be like the rest of us."

You are either perfect or a liar and nobody is perfect.

Laid Federer at 1.12 hoping for a comeback by Safin.

Got it too.