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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Found it, many thanks.

Kajman,

The strategy you describe of laying the draw at the start and then greening up near the end if it was still 0-0 would not work. It would actually cost you money the longer into the game you left it.

There are many good and bad times to involve yourself in a match or not depending on the starting price and how the match unfolds. Because the market is pretty efficient its all about figuring out what is about to happen IMHO and taking a position of appropiate risk against that.

Anyone know how to get commentary on games such as tonights Wolves v Sunderland?

Bit frustrating having it there to trade but am reluctant without knowing what's going on. Would digital radio for example give me the local station in either of those areas?

Just realised it's tomorrow night.

Harlosh

Most teams (except some of the bigger Prem clubs - and West Ham, lol - who are too snooty and think they can do their own sites better!) are supported by the premiumtv "World" websites (I subscribe to Reading World for example). Subscription gives you access to live local radio commentary of every game in the land near enough. It's 34.99 pa but as a Betfair expert you recover that in 5 minutes.

It doesn't matter whose site you subscribe through, you get all the commentaries. Google in your team followed by FC and this usually gets you the site at the top. All URLs have PremiumTV in them.

Thanks very much Bones. Sounds perfect. Cheap at twice the price by the sound of it.

Harlosh, I wasn't laying the draw I was laying Blackburn. A Chelsea win or a draw would give me a profit. As long as the match progressed towards either one of those outcomes I could green up.

Sorry Kajman, mis understood you. My aplogies.

Kajman

surely the problem with that is that your profit is on the blackburn line, so when you are greening up you are greening up at a very high price - ie say you are 100 on a blackburn win but blackburn are 50 to win then you only green up for 2 whereas if you had been backing chelsea you would be greening up at 1.2 or so.

Fundamentalist

I layed at 8.6, for a 20 win, risking losing 150 only if Blackburn had scored first and had looked like winning for the whole of the game, a risk I thought was worth taking :-)

As it happened I greened up after 5 minutes and took a 14 profit.

I thought that there is always a reasonable chance of a draw which was why I didn't back Chelsea. But I'm interested in other peoples tactics.

Kajman,

The risk of losing 150 in order to gain 20, in my opinion doesn't seem very logical.

I can't remember the exact odds to back Chelsea but it was approx 1.6. Backing the draw was about 3ish. Rather than just laying Blackburn at 8.6 surely it would have been wiser to have put a proportion of your 150 risk on backing both Chelsea and the Draw.

Your risk/reward ratio would be much better!

Kajman

You risked 150 to win 14.

If you had backed Chelsea to lose 150 you would have backed 250 at 1.6. When Chelsea scored i guess the price became about 1.3 (may have been lower) which would have been 75 (250*(1.6-1.3)) to green up at 1.3 giving you a profit of 57.70.

Was the risk of the draw worth the difference between 14 and 57.70 in profit?

bakko

I don't understand you there. Assuming that Chelsea win was 1.6 and the draw was 3 , then I can't get a win of 20 on either result coming in by splitting 150 between them.

The best I can do is to put 98 on Chelsea and 52 on the draw.
Then if Chelsea win, I get 59 - 52 = 7
or if a draw, I get 104 - 98 = 6.

Fundamentalist, I'm not following the maths here it must be the hour :-)

I was willing to risk 150, so if I did it by backing Chelsea I would have put on 150 for a possible 90 profit. Greening up at 1.3 (stake of 188) would have netted about 35. But only if Chelsea scored first.

But because I had a win on the draw situation if the match was goal-less for a long time then the odds would drift slowly towards a draw giving me a greening up opportunity , not the case if I had just backed Chelsea.

i happened to note the prices at about the time Kaj must have placed his bet ..

Blackburn 8.7

Chelsea 1.56

Draw 4.1

Kajman

sorry

my numbers are wrong - your right - too late to be doing numbers lol

F, no problem I usually have to do the sums several times before I get them right. :-)

ROFL, Very funny.

http://news.bbc.co.uk/sport1/hi/funny_old_game/robbo/4229655.stm

Kajman,

Just been trying to work out something using the above odds. Your right in that its not possible to get a net gain of 20 on both lines. I'm glad that the result came in for you but I wouldn't have wanted you to have lost 150 for a gain of only 20.

Hope this helps.

All this maths has now put my head in a spin! The grey matter hasn't woken up yet!