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How to profit from Betting Exchanges (BEX)     

Scripophilist - 27 Oct 2004 23:40


ladder.gifBA_Logo.gif

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 - 08 Jun 2005 14:52 - 3241 of 10502

Betfair main page is taking an age to load this afternoon. Almost as annoying as the kids that seem to think its fun to pester dad today!!

Anyhow Bet Angel seems to be plugged into the API just fine and working without fault. Anybody else experiancing the same issues?

Fundamentalist - 08 Jun 2005 14:58 - 3242 of 10502

Scrip

having no probs here - if anything it is running quicker than ever

bakko - 08 Jun 2005 15:03 - 3243 of 10502

No problems here either

Piptrader - 08 Jun 2005 15:09 - 3244 of 10502

Nor here.

Question about Bet Angel: are bets placed via this and similar programs still subject to the 5 second delay in running?

Fundamentalist - 08 Jun 2005 15:22 - 3245 of 10502

Pip

yes they are because the delay is implemented at betfairs end so it doesnt matter what system you place the bet through, betfair it self still applies the delay in running.

Why do you say 5 secs - its not that big a time delay on the horses (though is on the footie i think)

Scripophilist - 08 Jun 2005 15:39 - 3246 of 10502

5 secs footy, 2 secs horses, applies to in-running only.

Piptrader - 08 Jun 2005 15:40 - 3247 of 10502

Thanks Fundy. Tennis and cricket are definitely 5 (just checked), but horses seem to be about 2 seconds.

Piptrader - 08 Jun 2005 15:41 - 3248 of 10502

Thanks Scrip also.

Scripophilist - 08 Jun 2005 15:58 - 3249 of 10502

Horses are pretty naff for me today, Nothing really happening over here.

Fundamentalist - 08 Jun 2005 16:12 - 3250 of 10502

Scrip

same here - had a couple of small gains but not traded most of the races. Doesnt look like itll be any better this evening with 2 of the 3 meets going off at the same times

whyallasteve - 08 Jun 2005 19:57 - 3251 of 10502

Does anybody know if there is access to data that would show the percentage that a favourite; in horse racing, has gone on to loose (or win)?

Steve

Scripophilist - 08 Jun 2005 20:07 - 3252 of 10502

I have it. About a third of all favourites win.

http://www.probabilitytheory.info/topics/efficiency_betting_market.htm

whyallasteve - 08 Jun 2005 21:11 - 3253 of 10502

Thanks Scrip
mmmm.. so if about a third win, two thirds must lose....very interesting....:-]

whyallasteve - 09 Jun 2005 13:47 - 3254 of 10502

Is anyone having trouble bringing the markets up on Betfair?

kajman - 09 Jun 2005 13:51 - 3255 of 10502

After 2 days trading I've finally greened up for a profit on Big Brother's Friday eviction. Probably due to the favourite Lesley's sexy Policewoman uniform. :-)

kajman - 09 Jun 2005 13:55 - 3256 of 10502

I have a total of 32 individual bets on that market - for a profit f 1.50 !

So who holds the record for the largest number of bets on a single event? Is it Scrip?

Fundamentalist - 09 Jun 2005 14:03 - 3257 of 10502

Kaj

glad to see you are green - i have a nasty red number under lesleys name!

as for most bets, i dare say some of the races i traded early on would come close - evertime the market moved there i was clicking away lol

(just checked - i only had 23 bets on the BB eviction lol)

whyallasteve - 09 Jun 2005 14:04 - 3258 of 10502

Markets back on :-)

Scripophilist - 09 Jun 2005 14:11 - 3259 of 10502

When I've been testing some hyper trading strategies I have often clocked up hundreds of bets on each race. In an afternoon that can run into thousands. But I recommend that the best strategy is a few good quality decisions rather than hundreds of poor ones.

sealed - 09 Jun 2005 14:16 - 3260 of 10502

111 on the recent windies v pak 1st test, practicing the MM technique from scrips course. Obviously need a bit more practice as it shouldn't have ended up an odd number lol.

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