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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Opened an account this evening. May take a while Fundamentalist to get your 20 as this is all compeletly new to me and I am already totaly confused.

To get me started can anyone explain whats the difference is between a place and a non-place horse race.

Also is there any good sources of information I could read before the course.

Apart from Share trading and spreadbetting the nearest I have got to this sort of thing is the odd bet on the Grand National.

Cunningham

ill try and earn my 20!!!!

I assume you are asking because there are 2 markets for each horserace. The place market is to finish in the first three - the other is the win market - this is the one you should be betting on.

As for info, as good as any may be to go to the start of this thread and look through. the majority is us discussing current trades but there are also some posts where questions are asked and answered (especially earlier on in the thread)

The other option is to have a look and see what you are planning to do then post a question on here - 1 or more of us will answer.

The key concept to realise is that if you are backing, you want it to win (like having a bet on the national), if you are laying you want it to lose (you're effectively playing the bookmaker)

Fundamentalist - So far so good as that made sense.

If you lay and play the bookmaker can you only ever make back your stake? Then if the horse comes in you stand to loose your stake and any monies you have to pay out to the corresponding backer.

spot on cunningham

for example - if you lay a horse at 4.0 for 10 - if it wins the race you lose 30, if it doesnt win you win 10

All up early for the Safin/Hewitt match @ 08:30, will be waiting for the magic lay of 1.02! Then on the footie later on...

I have friends over so no activity for me today but had a good day yesterday so should be happy with that and won't be greedy.

Good evening all, anyone on the Bob Hope Golf, a 2 horse race at the mo, backed both if J Leonard cracks it I'll be up 25% today o/a, even though I bottled it on the tennis, backed Safin but as he faulted I paniced, ended up 2p!! a good day overall...

Must be some sorry faces following the 3.15 at Exeter.
3 horse race with the favourite at 1.16 ish.
Fell, picked himself up but was pipped at the post by the outsider.

A lot of money lost on that one. The bookies must have been jumping up and down with delight.

Harlosh

just watched it on attheraces - unbelievable. In fairness to the jockey, to catch the horse, get back on, steady it for the last fence and make up all but a nose of about 12 lengths on the run-in was one hell of an effort - would have won about 50 lengths if it had stood up

also, it has lost in the photo by a tiny fraction - 1 more stride and it wins

Sounds like I missed a classic there. I have a busy week so I have been busy preparing for that rather than trading.

Hi all,
I am new to this, I have read through the thread and I am very interested in it. Is Betfair the best company to open an account with?
wilbs

Hi Wilbs and welcome.

I think everyone on here uses Betfair. I believe it is the biggest and therefore has more liquidity which is essential.

Good luck

9VLQNEFHH

If you enter this number Wilbs we both benefit from a small bonus.

Thanks Harlosh,
I will enter the number when I open an account.
Would you recomend going on the course as I dont have a clue about betting but like the sound of this.
wilbs

very slick john, very slick lol

I would highly recommend the course. Once you have grasped the initial concept your return will most likely be far quicker and far more profitable than anything else you have ever done.

Thanks Fundy, didn't get left behind this time.

i bet youve had the thread on autorefresh with alerts bells etc since you missed the last one lol!

How you getting on? mkts going well for me but had little time on betfair what with the house and all

Thanks harlosh.

Wilbs, Welcome to this thread. Best of luck with Betfair.

Harlosh and Fundy, You guys are far too quick for me. You'll have to give me a go next time otherwise I'll cry!

Anyway, big game on tonight. Trying to work out a game plan and will back later.