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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Scrip, its the prising myself away from the ftse futures on the friday,:-)
i didnt put it accross good, i didnt mean there was a lack of events on a Friday to bet on, i meant theres lots on Saturdays too,:-)

Scrip on average how many bets a day do you do, ?and what is the average of winners, loosers, flat etc, and are some sports more profitable than others?

Ive had a betfair account for a year or so, and ive had a guy come round here and do live arbitrage stuff on the horses,but he didnt put it accross very well. :-(

MrE, Thanks for your comments. Glad to see you posting again. I trust things are much better?

Mr Euro, agree, after my last london seminar and dissapointment(not money am related i must add) i decided not to go on any more financial courses ever(unless i personally know the people involved ):-) well got to keep in with the management dont you:-) , but this is something different, and it interests me a alot, and ive met Scrip a few times, and hes a decent honest fella, i reckon it will be worth dipping into my purse for.

Peter, I am still here thanks which is always a bonus :-) Due to take up my position at the EU in 2 weeks, not sure I will be up to it by then but I wont be doing a Kilroy!

Edit: Ruth yes he is.

Scrip, just spoke to the master of the house, hes says he can change his shift for that day, so ive just confirmed my place via email,
look forward to seeing you there,

Right off for a nice romantic meal out shortly,
see ya all tommorrow,

Ruth,

"Scrip, its the prising myself away from the ftse futures on the friday,:-)"

Similar problem over here!!

I change my strategy depending on what's happen but on a busy day I will place hundreds of bets. I guess I am the exception rather than the rule on Betfair. I'm probably not the best representation as you could get away with only 2-4 bets per race on the horses.

The lowest number of bets I placed on one event today was 3 and the most 31.

Depending on which strategy you use you will get varying results. Certain strategies will yield as high as 90-95% success rate. A more "normal" strategy will yield a win 60-70%. There are many variations and contingencies that sit underneath those figures. I have looked at many strategies and success rates and will present those figures so you can at least have a benchmark to measure yourself against.

I win money mainly on football matches, horse racing, financials and tournaments. Those are my main areas but some of that is skewed by the availability and liquidity of the markets.

Ruth, Great, Look forward to seeing you there. If there is any specific you are interested in seeing during the course please request it and I will see what I can do.

No activity today as I went out for my first round of Golf since May. My foot survived the trip so now looking at getting out a bit more often again.

Scrip, i tried golf a few times, bought all the kit, even got the shoes,only problem was i looked the part with me fancy graphite clubs, and everyone was watching thinking ide be some hot shot, and i couldnt even hit the ball, very embarassing,just left loads of divits in the tee off area:-)
i did fill em back in of course, etiquete and all that:-)
Teach me for trying to be a flash cow with fancy equipment,
its in the garage now, good as new, only used about 5 times, its harder than it looks :-)

I started because there were so many golf days I thought I should try and learn to play in one. Been going for six years now!! I'm nothing special but really enjoy a good round when I can. A bad season though as I have been out because of my foot injury since May so really chuffed to get out today.

Scrip

I would greatly appreciate you posting up on here if you see any interesting Betfair stuff, which you think might be of interest.

I see Kerry is drawing more and more level with Bush

My position with this bet at the moment is:

Republicans: -123.00 (Currently: Back 1.87 / Lay 1.88)
Democrats: +216.88 (Currently: Back 2.14 / Lay 2.16)

I can back the Republicans for my full potential loss amount and create a better hedge today than I could have done yesterday, should the Republicans end up winning. The quandary with doing this is that the Democrat chance of winning trend is strengthening and so further justifying my original position.

It's OK hedging your bets but in doing so, it makes me want to find yet another bet, and I would then want to do yet another hedge on the new bet - IYSWIM?

I don't really want to become addicted to it, I suppose.

Can someone else see what I'm trying to say?

Scrip,

Are you limiting the numbers on the day or what is the capacity of the room?

Doc, As a rule I generally lay off winning positions but I always go in heavily on that expectation. The problem you tend to find is that the result could swing against you just when you are feeling comfertable with the prospect of winning some decent money turning a decent profit into a loss or no gain. I had to learn the hard way several times!!

I think there is a lot to be said from a sanity viewpoint of booking regular profits. Gives you a warm feeling and more confidence.

I did eventually study what effect laying off or not has on your P&L long term. Longer term it actually makes little difference if you are a regular user and have a clearly defined staking strategy.

Harlosh, Not sure on the capacity of the room but I wouldn't want too many people there else it gets a little dilutive. I like to be interactive with the attendees.

An interesting and favourable scenario occured with the football this evening so despite promising to have a quiet evening I couldn't resist nipping in for a piece of the action. Around 2.34m traded just on this match (Not me, the market!!). I'll talk about this match specifically during the course as it was a good example of one particular strategy. Screen image was taken about 4-5 mins before the end of the match.

Utterly phenominal!

What did you do?

Harlosh

let me know if your planning to attend and ill give u a lift

Fundy,

As I don't drive, I am extremely grateful.

I'll book my place.

Regards

I have positions running on the Premiership matches this afternoon.

Scenarios

Charlton Vs Middlesbrough
Any result +80

Fulham Vs Tottenham
Fulham or Draw +70/60, Tottenham -230 (Whoops, Made a of mess of this!!)

Pompey Vs Man U
Min of 50 max of 80 if Portsmouth win

West Brom Vs Chelsea
300 if Chelsea win - Zero any other result

Arsenal Vs Southampton
250 if Arsenal win - Looking to trade out for reduced win on Arsenal. Arsenal just missed a penalty!!