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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Cheers Scrip , unbelievable how fast they can suspend a match , miliseconds , compared to the time taken to unsuspend it.

Belated thanks Sript for the cd. Had a few days on the road which gave me finally the chance to view it. One thing puzzled me - the opening bet is important and I can see your football knowledge gives you the edge there - but how do you decide on an entry in horse racing given your confession of little knowledge?
PS how about a training venue a little nearer the SW.

Kernow,

I know travelling to London for the next course is a pain in the ass but in my view you should do all you can to make it. The potential on Betfair is incredible and should help you achieve your goal a lot sooner than you otherwise would.

1.01 reversal on the 10.00 FTSE on the very last tick. Wasn't in myself either way. Will it be that sort of day?

kernow, For each type of event there are various setups these vary quite a bit depending on the sport that you are on. Also the pre event and in play odds are a different ball game from sport to sport. Some events are stable and slow others are rapid and unstable. The key is to indentify which you are in and then adopt a strategy that exploits it.

Dil, Had a nose at the stats this morning. Chance of a team equalising after one side taking the lead. (First two goals only)

Within: -

1 min - 0.68%
2 mins - 2.55%
5 mins - 6.15%

Where the home team scores first the away team is less likely to equalise quickly and vice versa.

Watch the FTSE...

Cheers Scrip didn't think it happened often.

Whats the percentage of games that end 0-0 ?

Around 8% in total but that varies quite a bit on individual matches subject to the strength of the home and away team. I can actually work out correct scores with a very high degree of accuracy. That is mainly because there are not many goals on average per game so its easier to do.

Just greened up on Mercedes golf championship.
Only small stakes just to get the feel but worked out really well.
I backed two players, one whose odds shortened, the other lengthened.

When I laid the loser it added the stake to the current winnings on the former. I then greened up.

Very weird how it works but I'm not complaining. The more I see of this the more I am amazed.

Just uploaded this:-

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

For people who are experimenting on Betfair. It will let you place a bet for less than the minimum amount. This means you can throw away your pennies testing strategies or just getting used to the markets.

"Just greened up on Mercedes golf championship"

Golf is a goodie but usually liquidty is only high during the main season. Good volume on darts at the moment.

FA CUP starts this weekend. A great tournament to get on!!

Brilliant result in the Sheff Utd - Villa match! Ideal scenario!

Scrip,
Wasn't sure about this match, how did you play it?

Looking for a late match leader preferably the home team then start from there to take some money out of the market. Wasn't going to try and predict the result at all or position take before the match started. Fortunate that there were two goals very quickly.

Just scanning some of the other matches but need to look after the kids this afternoon so that's probably it for today.

The FA CUP is more difficult to make money on as the scenario is different. When you are about to get knocked out of the competition you have nothing to lose by pushing forward. So be careful on knockout matches the probabilities are different. Also the trend in recent years is for wholesale team changes by the big teams so difficult to really get any handle on the performance.

Try and pick matches where you have some ability to judge the match, I.e. matches where stronger teams are playing at home with a full squad.

Wow, Some interesting results out there. Not that I did but you could have laid Man U with 70 and made 1000!!!

Youd have to have been mad to do though scrip lol

Been out most of the day but made a few quid this evening on Newcastle rugby match and backed everton at kick off then layed at 2-0 - nice

also backed a horse 50 e/w at 14-1 - it came second, a payout but not as nice as it could have been