Friday 1 March 2019

Football, Tennis & Horse Racing Trading on Betfair

Random conversation.

Do you use Betfair for your trading? I was chatting with Eric (Winner) the other day and he was asking about the liquidity of the tennis markets.

So, for instance, the current match I am trading is the Gibbs V Brady match and it is on the lower challenger circuit one below the main WTA circuit and it is not televised apart from online and so far there is around £215,000 matched and as an example I laid Brady at 1.46 for a £50 liability then laid again at 1.18 for the same liability to bring the average lay price down to 1.27 and now she is back to 1.66 so I am able to take out my red (liability) and either equalise my profit on either player or leave the profit on Gibbs and slowly take a bit out at a time. Meanwhile, in the German Bundesliga football, I have currently laid under 2.5 goals in the Holsten Kiel V Union Berlin game and will be looking at the laying the current score in the Duisburg V Magdeburg match if the price hits around 1.70 So as you can see it is quite difficult explaining the on a match preview!

Yes, it is difficult to put into words, hey. 

I generally bet each on the horses, win and place, although it depends on the horse and circumstance. I usually put my bet up before the race at half the odds just in case it is substantially backed to have a decent no-lose bet. 

In running, I put my potential win up at 1.11, as an insurance policy just in case it goes close but gets beat. Long term there probably isn't a good reason for this but short term it seems to make sense as to help smooth the way. Nothing worse than having a bet go really short in play and losing. However, there is no right or wrong way of doing most things just a matter of opinion. If there is a profit at the end of the season it is working although there is always room for improvement and why assessments need to be made on all these aspects.

The only exception to this rule is if I bet on a huge priced horse. I've had some I take a speculative punt at 200- 300/1. Those I stick a few thousand up in running at 1/1 and less just to make the most if they go close and lose. 

Interesting to hear how you work.

Yes it is interesting as everyone can trade in a different way and it is finding what is right for you and that is the key, so in terms of tennis I am quite aggressive in my trades but in terms of football I always reduce my liability as soon as I can as I have learned that a very important part for me is protecting my bank and without it there is no trading!