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 Federer at 1.12 hoping for a comeback by Safin.

Got it too.

Another cracking match. All green and disciplined today!! Over 7m traded already and one more set to play. Haven't made much but its mine, its tax free and it only took 5 mins.

Been following this match since the third set. What a titanic game!!!

Not as disciplined as you, Scrip as you greened up. I was collecting lots of ticks with Federer throughout the 4th set when they won each of their respective service games. Nearly had all my hard work undone when Safin had a match point, had to close my eyes and pray at that point!

Continued to scalp Federer in the final set but towards the end I bottled out and switched over to Safin. Took the risk and it paid off.

Will have to green up in future!

Gooday all- got up too late to be on the Fed/Saf match, looking at the odds chart 'could have' backed Saf @ 15 x 125 then Fed @ 12 x 160 greened up at over 1,500! profit, if only..
I find this Betfair trading much easer than spread or stock trading.
From last Fri I'm up over 1500%..

"I find this Betfair trading much easer than spread or stock trading."

It is and I find there are many wonderful aspects of Betfair. No transaction fees is one of them also when you lose you don't have to. It's great.

11.295m traded on that one game! A real cracker. Was on audio conference with a tennis expert and he has walked away with a five figure gain from that match. Mainly thanks to Federer getting down to 1.02. He used free money he made from Federer to lay him at 1.02 at walked away with a huge pay day. He is now down the pub for the rest of the day.

a steamer in the 2.10, a nice drifter in the 2.20 - lets hope it continues like this

Some good action out there this afternoon.

Horse racing going from good to better this afternoon - hope you are all filling your boots - i know i am

note to self - must stay disciplined!!!!!

Been out all day so missed the racing. Sounds like a better day than the last couple of days. At least I found them hard anyway.

I know it's been said before but this issue of discipline is the single most important factor in trading Betfair, just as it is in the stockmarket. Many people talk about finding an edge, that je ne sais quoi that gives you an advantage over others. For most of us on Betfair I think that is discipline.
If I had maintained 100% discipline since I started I would have made a small fortune. As it is, my gains are more moderate, although still fantastically good.

There must be thousands of punters on Betfair who haven't had the benefit of having discipline rammed down their throats as one does when trading the stockmarket. Many of them probably don't even know that it is discipline that causes them to lose, not necessarily their poor selection of horses or whatever.

It took me years to learn the stockmarket and there is still more I don't know, than I know. Yet with Scrip's course and a little help from Fundy I am up and running in a fraction of the time and at a fraction of the cost.

Now I know the theory. I've just written about it. Now I have to put it into practice. :-)

I am considering enrolling with Betfair - who offer a 20 bonus to anyone with a betfair account who recommends somebody (ie ME). You should have a unique referral code somewhere to give to me to enrol with. After that, once I've spent/bed 100.00 both you and I get a 20.00 Bonus each and promise of future bonuses!

Seems a shame not to take advantage of their offer - Any takers?

Yes! 3L3QNUVKN :-)

Shouldn't have gone for my tea. :-)

Kayak

you're slipping on the free money - it took you 11 mins to reply :-)

Several days away but my new 3G/GPRS card meant hotel room evenings were brighter and profitable :-)) Just looking at CMC's FTSE 100 and the real figure. Often they are not even close. I believe CMC use a weighted current/futures figure? Any views on how good a predictor the CMC figure is of movement in the real figure?

Kernow, I'd wondered about the CMC FTSE figures too but not realy been able to make anything of it Whenever I look CMC seems to be below the cash price but I thought the futures price was always higher due to 'time value of money'. I believe the norm for the spreadbetting co's is to skew the pirce in the direction of the current movement

ilanderton - it is generally true that the ftse future trades at a premium to the cash, but sometimes it trades at a discount, as with the current march 05 contract.

A 'fair premium/discount' can be calculated, which takes into account interest rates, dividend expectations, etc. On top of that there is an element of traders' expectations. There is also a time element: the closer you get to the expiry of the futures contract, the nearer its value will be to the cash.

Once the underlying markets have closed, ie ftse constituents at 16.30, and futures at 17.30, CMC et al have a choice of closing their offerings, or keeping them open, but basing prices on what is happening in related markets (the US), or how their clients are betting. As is often noted on this BB, the overnight direction of the Dow frequently has no apparent correlation with the next morning's ftse behaviour.

kernow, 'cash' in the description of indices from CMC and other spreadbetters means settled at the end of the current day rather than on a futures expiry day. It doesn't mean that it is the actual cash index. It basically follows the future with a fixed bias for the day. You can see this by opening a window for both the cash and one or more of the futures. CMC could not have an instrument being the actual cash index because people would arbitrage it with the future.

I find CMC pretty good 95% of the time as the poor man's future.

Betfair seemed to crash for me at 16:15, No response from API or nothing. Still not working at 16:20? Anybody else experiance this. Was going to be my move of the day.

Still no sign of life at 16:30