Income from betting exchanges

Hi Scripophilist

I have followed your probability website in the past and have recently come across Betangel.com. It looks fantastic and I am very excited about using the software as I believe it will improve my trading on betfair substantially.

In the past I have made good money on cricket (esp. test matches.) However, having had no background in financial trading I am a little lost by the finer techniques of your charting software - all of my trades were across a longer time frame based on my deep understanding of how cricket matches unfold.

Can you recommend any books (most likely financial trading books) which introduce this topic.
Eg. Timing trades, stop losses, risk/return ratio - basic trading strategies

Is this the equivalent of technical analysis? (or am I way off the mark)

Maybe I am over complicating and it is just a case of backing high/laying low!!!

Any advice would be much appreciated

Cheers
Alex
 
Each market on Betfair has its own ripples and features so we designed Bet Angel to try and reflect that. On the cricket you would probably using the offsetting and trailing stop to best use. You could lay or back a team and Bet Angel would automatically take the corresponding position and manage it by stopping you out if you position went against you or pulling up your stop limit if you moved into profit. A lot of people set it running and just walking away and do something else.

If you use the charting on the horse racing markets it will give you excellent information in terms of what is happening in the market. It plots volume and price range, momentum and so on so you can clearly see where the odds are heading and take advantage of that movement.

I can't really recommend any books but certainly the short term stuff using the charing is more akin to technical analysis. I know there are some red hot S&P mini traders using the charts on the horse racing market.

I have my own styles on the market and have happily using them for ages. The software is just an evolution of that. Because of the speed and ease of use it helps me trade much better than the average user of the exchange.
 
So for horse racing, as the demo on the website suggests, is it just a case of watching when the book is 'lop sided' for want of a better word and then lying/backing depending on the situation. Surely it cannot be as simple as that.

I do understand that fierce concentration and speed of judgement is required also, but is that basically the idea.

Regards

Johnson
 
It would be nice to think it was that easy but it isn't. Just like normal trading there are good and bad things trade and a variety of positions as well. I don't know if you are using any software but once you do that changes your perspective as well.
 
Speaking of books, has anyone read Peter Webb's book, called Profitable Exchange Trading (http://www.amazon.co.uk/Profitable-Exchange-Trading-Peter-Webb/dp/1843440288)?

I considered buying it, but couldn't find any reviews.

Regards

Jeff

I attended the first course last Nov. At the risk of embarrassing Peter, the best way I can comment on it is to quote from an email I sent him shortly thereafter:

"I have never been on a course before where the presenter was so enthusiastic about his subject. Not only did it shine through, but it never faltered even into the two hours of extra time and beyond.

"You may be interested to know that I have put your principles to work immediately, and over the weekend and today had 13/13 winners!! Only £2 stakes, so most of the winnings are in pence (9 under 10p), but an excellent learning exercise, and most encouraging, although obviously some of that is down to good luck rather than good judgment!

"One of the things that has particularly struck me is the wisdom of taking tiny chunks out of the market regularly, even at the lowest of odds. Previously I had never even considered going for one tick, especially at low odds, seduced as I was by the large gains apparently offered at long odds - now I know better!"

The only proviso I would make is that you 'must' learn how Betfair works, especially backing and laying, before you go on the course, otherwise you are in danger of being left behind before the first coffee break!

A good introduction is the book 'Lay, back and think of winning' by Nigel Paul. Digest that and you'll have no problem keeping up with the course.
 
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how about that?
 
I've recently started a trading blog where I am attempting to make a steady profit trading on sports betting exchanges but also share my ideas. I have been trading for about 2 years on Betfair but still would appreciate any advise and tips either on the actual trading or other elements such as blog design. I would be grateful for any feedback.

http://dukesportstrading.blogspot.com/
 
Without being a 'spamhead'. My site has the Brimardon system for mucho cheapness along with Stable information direct from 2 yards and I also get the 'secret list' of horses that get sent to the bookies on whats gonna trade and whats not. For example Saturday the Bell runner 2/1 into 5/4 and the MJ horse 9/1 into 11/2. I will post on here to show you but well worthy of £27 a month to join.
www.relayman.com
 
If you look at my blog below you can see that a profit can be made on betting exchanges. I obviously do this as an extra source of income but I believe with a sufficient bank, the correct strategy and experience, there is no reason why this can’t be a full time occupation. If the forums are to believed more people than ever class themselves as full time sports traders while job adverts are often placed all over the internet for in play traders and bet placers.

I think the key to success however, just like any other occupation, is experience. It has taken me a couple years of trading just to show a consistent profit. It’s essential to develop a trading strategy that encompasses your particular interests while utilises your specific knowledge. You also need to understand the financial consequences when you both win and lose. Many people simply fritter away winnings because they see it as free money or go chasing losses. So if you have a dependent family and go full time, I suggest you know exactly what you are doing. If not, simply do it in your spare time and see where it takes you.
 
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how is everyone doing at trading that started this thread, who is making money out of trading ? betfair
 
Update as promised on racingtowin:
Started 1 Feb on 30 day free trial, continued on paying basis (weekly) 1 March.
I started backing and laying 1 March but quickly decided to opt for back only using 3m method.
Betting bank started with £1250 now stands at £3740. I have not backed consistently as I was away for almost 10 days.
I am NOT plugging this outfit as I am very sceptical of tips services, more so than many but this one seems to be getting it right so far. Saturday and Sunday showed 6 successes from 11, I did not back as the weekend is for relaxing not working.

Regarding arbs, I have glanced at my old files and I remember why I gave it up:
The stakes required to give a reasonable return are very high. I also agree with Paul's comment that it is easy to miss the opportunities unless you are quick.
Some websites select the opportunities for you but it seems that the good ones have already gone when the site updates them. E.g. betbrain.com
Maybe the exchanges offer better returns. As of today theri best "surebet" is tennis and offers a return of 1.94%. Thats 20 quid on a grand!
Personally I am looking for a much better return.

you are playing sports arbitrage (Sure bets) - it job well? you actually win 100% with surebets right ?
you can talk to me through my mailbox: [email protected]. thanks
 
someone is involved sportsmanship difference, surebets not? - You use but it works bookmakers available for surebets? - I saw the co bookmoakers rules of different sports, - Someone give me advice to use the good bookmakers surebets to avoid doing everything wrong by playing catch?
 
you are participating in sports surebets not? I can get used to you, -do you use for surebets bookmakers. you give me your yahoo to talk, thanks
 
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