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

On the racing this afternoon. Just to show it doesn't always go your way I am down 12 ticks after three races. Hoping for better for the remainder of the day. Will make a cup of tea and close all my other browsers so I don't get distracted!! Will endevour to give you an update after the last race.

Scrip please pencil me in, will confirm in a day or two, thanks.

Will do, Drop an email to sarah@glomtc.com to reserve a space. I have emailed them as well to make sure a place is available.

Just had a bet on Dow finishing negative at 4.0

Results from the afternoon on the horses. An "interesting" day! The +/- is for ticks per race. This is my preferred measure as I equalise all bets to a tick size to ensure good money management.

1350 -5
1400 -9
1410 +6
1420 +0
1430 +0
1440 +1
1450 -1
1500 No activity
1510 +3
1520 +0
1530 +12
1540 No activity
1550 +10
1600 +0

+17 Ticks gross on the day. I haven't looked to check the net total yet but not a particulary exciting day.

A very poor start but just didn't have my head screwed on. These things tend to average out over time. I've made an attempt to document some of the activity recently to present at the course. This should give you a good feel for how a day goes and the sort of decisions you will need to make.

jeffmack, what price did you get?

I find there are some odd prices on the financials every now and again. It looks like the underlying includes a calculation using beta and when the market is volatile intra day it can throw up some odd prices.

Scrip
4.0

No backers at the mo, just layers at 4.0, 3.5, 1.62

Scrip, what do you mean by a "tick"? E.g. from 1.34 to 1.35, or 6.0 to 6.2, on BF?

Kayak, Yes, 3.05-3.10, 1.80-1.81 etc. I have found if you do not equalise your risk according to the tick size you are unable to balance your risk longer term.

Oh. Then I had a good day :-))

13.00 +13
13.10 No activity
13.20 -6
13.30 No activity
13.40 +7
13.50 +6
14.00 +13
14.10 +0
14.20 +9
14.30 +0
14.40 +3
14.50 +7
15.00 +4
15.10 +6
15.20 +8
15.30 -6
15.40 +8
15.50 +9
16.00 +0
16.10 -13

Total +68

Probably at my expense :(

I didn't really get it together today. Still there is the football tonight.

Slow market the financial bets

Good job kayak - well done!!!!

Steph - good to see you attending the course

Jeff - hope you are right - im short ftse futures from the close and could do with a drop in the dow

Laid off my bet, so if Dow is up I'm level, if its down I win. Looks like up tho

Greened up on Man City vs Norwich before kick off so a win whatever happens during the match.

greened up scrip ????

Missed the chance to grab a screen shot as Man City 1-0 up already. See the England Poland example in the top right hand corner. The P&L is green on each line so I win whatever the result. The process to achieve this is nicknamed, "Greening up"

Script
Been trying to Green up but never seem to quite get there. Will have to attend a course.

One thing, the way you bet, do you need to have a substantial sum deposited with betfair (1000+)

Is it a case of big stake small margin

jeff, You need to turn it on its head. Work on the basis of "I want to win X", I measure mine per tick. Then that defines your bank. You would start when you are learning at maybe 1 a tick then increase that as your confidence grows. Over time the capital I have at Betfair has grown quite a lot so I take large positions when I am confident that the position will mature.