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How to profit from Betting Exchanges (BEX)     

Scripophilist - 27 Oct 2004 23:40


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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


Scripophilist - 10 Jan 2006 21:41 - 7846 of 10502

I was lucky, I was messing around with the correct score and total goals market when the goal went in and unless there is a late flurry of goals it is looking pretty good. No skill, just messing around with some concepts.

Fundamentalist - 10 Jan 2006 21:43 - 7847 of 10502

Never bemoan a bit of luck scrip :-)

Scripophilist - 10 Jan 2006 21:50 - 7848 of 10502

Arsenal are going to score at least one goal in the return leg I would have thought.

Fundamentalist - 10 Jan 2006 21:53 - 7849 of 10502

Scrip

arsenal have never made the final under Wenger - tells its own story

Dil - 10 Jan 2006 22:39 - 7850 of 10502

Sorry Fundy I went to pub ... right decision I think.

schiff - 10 Jan 2006 23:53 - 7851 of 10502

Thanks Fundy for your link to formbetting (7797). That type of thing is a little bit more me than the trading you all do, I have decided. They gave a tip this evening on the Swansea game which came in at 1.64. Not such brilliant odds but a winner's a winner. I'll probably start to follow them now!
I knew about Nadal by the way from his own website, so my bet with centrebet is up the swannee and my lay with betfair cancelled. A really expensive lesson and I should have known better.
A little story you might appreciate though it's from the more conventional world of backing horses rather than the trading you do. I have got into the habit, after seeing so many of my bets go down in close finishes, of putting on a sizeable lay at 1.1 or 1.2 as soon as the market goes in play. To get back my stake and a bit more besides if.......
It's a form of insurance in a way and there's no way of stopping it once they've got over the last fence/hurdle. So with my comfortable winners it probably seems like money down the drain. But I don't mind giving up 3 to 6 if I stand to win say 50 to 100+ and it's close at the death. Obviously if my bet isn't in contention then it's not taken. It's paid off for me now on a handful of occasions and it's overall quite a profitable device. Best example so far was today!
I stood to win 50 on Phar Out Favourite (Leic 2.00) and laid 30 at 1.2 in running. It was something of a 2-horse race on the book (11/10 and 9/4) and the fav had already fallen so I felt I was sitting pretty. Then mine fell four fences from home when going well so I did my usual routine of a good curse and thought little more about it. This evening checking my account I found out that the lay had been taken!! Five to one ON and four fences from home - I ask you. No doubt you thank the reckless people on betfair every day. Today it's my turn and it helps to turn the Nadal situation round a little - psychologically as well.

Fundamentalist - 11 Jan 2006 00:06 - 7852 of 10502

Schiff

nice one, i tend to lay off in running at very short prices too, though i have been known to cancel a little too early.

I had the otherside of the coin at Haydock at the betfair meeting where they had the in running prices on the big screen. The horse i backed was 10 lengths clear 2 out and i knew it was beat - a quick glance to the screen showed it trading at 1.06 on betfair and i could do nothing about it. It finished 15 lengths 3rd!!!

schiff - 11 Jan 2006 07:00 - 7853 of 10502

Fundy - I just don't consider cancelling because the whole point is to see my bet safely home, or not as the case may be. I think my interest started back in December with The Market Man at Cheltenham. It came over the last a couple of lengths clear and was ground down in the last strides. I'd had a similar experience with one of Sue Smith's chasers.
And of course there have been numerous examples that I've not been involved in - Direct Flight on Monday (well clear when fell at the last) and some weeks ago when something ran out via the wing at the final obstacle with the race in its pocket.
I find it interesting 'watching' a race on betangel (set at 1-second refreshes). There are certainly quite a few horses that go to a 1.2 lay towards the end of a race and don't win!

Scripophilist - 11 Jan 2006 11:02 - 7854 of 10502

Man U's price is drifting like a barge down the Thames at the moment for this evenings match. Probably worth putting a lay on and closing before the off. If not in profit your price will likely get matched early on unless Man U get an early goal. I think Blackburn will come out all guns blazing.

355 - 11 Jan 2006 11:42 - 7855 of 10502

oops, just clicked on man u lay with the confirn bet switched on in bet angel basic the order went in and got matched. Once again fate takes a hand.
Just finished the month with bet angel pro. Superb platform, however I have made more mistakes in the past month than I could believe. I will have to wait untill I can get some training, I can see the potential for trading the exchanges, I just dont have the skill set yet. Result of 1 month traded 1258.33 nett loss 26.07.
Compare this to my dax trades, 5 trades 5 wins, 170 points, 27.5% gain in the same period.

Fundamentalist - 11 Jan 2006 14:06 - 7856 of 10502

Looks like kentucky Bullet may only have 3 legs in the 14.05

Fundamentalist - 11 Jan 2006 14:09 - 7857 of 10502

Surprise surprise, jockey held it right out the back, ran in into the back of horses then stayed on from too far off the pace

Fundamentalist - 11 Jan 2006 14:13 - 7858 of 10502

Scrip

a while back you asked about banded racing - if you have time take a look at the 2.35 at Southwell card. The race has 14 runners, all of which have run many times - none has ever been placed let alone won a race - should be a real quality affair lol

Fundamentalist - 11 Jan 2006 19:56 - 7859 of 10502

Looks a pretty strong united side

Blackburn
B Friedel, L Neill, A Todd, R Nelsen, M Gray, D Bentley, R Savage, K Tugay, M Pedersen, S Kuqi, C Bellamy
Subs: P Enckelman, Z Khizanishvili, B Emerton, P Dickov, S Reid

Man Utd
E Van der Sar, G Neville, R Ferdinand, W Brown, M Silvestre, C Ronaldo, D Fletcher, A Smith, R Giggs, W Rooney, L Saha
Subs: T Howard, R van Nistelrooy, J O'Shea, P Bardsley, G Rossi

Scripophilist - 11 Jan 2006 20:05 - 7860 of 10502

For united! ROFL!

Scripophilist - 11 Jan 2006 20:05 - 7861 of 10502

I fancy a few quid on Blackburn, nothing serious but I think they are fired up for this.

Scripophilist - 11 Jan 2006 20:32 - 7862 of 10502

Good goal Utd.

Scripophilist - 11 Jan 2006 20:37 - 7863 of 10502

1-1

Much more entertaining than last night!

Fundamentalist - 11 Jan 2006 20:38 - 7864 of 10502

wanted to lay united at 1 up but couldnt get harlosh off the phone

Lyon 1-0 down may be good to trade

Fundamentalist - 11 Jan 2006 20:39 - 7865 of 10502

nice scrap - rooney vs lily savage send em both off ref
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