Binary betting - FTSE / Dow

delboy trotter

Active member
112 2
I would recommend that if you have found an edge or loophole in this type of betting, that you do not reveal it publicly on this board. I can tell you from previous experience that it is better to keep it to yourself or discuss it privately with a few people that you can trust. Bookmakers are very quick to close any avenue that is consistently non profitable for them. Over at Bookiebusters they have a private room where only invited members (trusted) are allowed access. Perhaps we could set one up here? Failing that I would recommend using PM's.

dbt

ps I think it was Probookie on this site who said that this type of betting had some opportunities to exploit.
 
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riwf

Member
87 2
delboy trotter

Thanks for the advice. Post has been deleted. I'll try out the system over the coming week and see if it delivers an edge.

riwf
 

riwf

Member
87 2
Wideboy

I'm trying an approach that doesn't use binary betting as a straight win/lose bet. If I have any success this week, I'll post a report on Friday. I posted a question about it yesterday - dbt suggested I keep it unpublic meantime.

riwf
 

adrianallen99

Established member
630 4
Anyone else had this.

had a binary bet on Wall street ending 0-20 pts down for the day.
[email protected] I then pressed the sell button @ 46. I then got the confirmation saying I had sold £5 @ 36. Yet on screen it was still showing around the 46.

I phoned up about this and they chatted in the background for a few minutes. By the time they came back to the phone the price was @ 7 and they told me it was just because the markets were moving so quickly. If this was an index I could check the price for the moment I sold, but no way to check for binaries.

Does anyone know how the calculate the price for the binary bets anyway.
 

Bigbusiness

Experienced member
1,408 23
There is a second or so delay between hitting the sell button and the order going through. I had a similar problem a few times. It is strange how the trade seems to go through at a worse price every time.
 

riwf

Member
87 2
Adrianallen99 and Bigbusiness

I've never had any problems getting the price at which I want to sell. The only odd problems I've had relate to when I try to place a bet that will have the effect of counter-balancing my other bets and leave the certainty of a small profit rather than the possibility of a large gain (or loss) - i.e. betting that the index will finish up <100 (or down). Suddenly, I'm told that my bet can't be accepted, because I don't have enough money in my account, when the screen shows that I have adequate funds to cover the bet. Perhaps it's a glitch - perhaps an indication that the programme is set to remind the punters that they're on a gambling site, where risk reduction isn't playing the game, unless they are doing it.

Good luck
RIWF
 

adrianallen99

Established member
630 4
Maybe it is my computer, the is no broadband where I live and internet dial-up connections can be slightly slower than somewhere less remote.

I have to admit it is causing a real problem.

I also tried to go long on the dow yesterday when it was at +55 pts. I just couldnt get the position filled, either errors or problems with my bet - had trouble getting through to dealing room. Price was at 71 before I got through so I didnt bother. Doh!!!
 

Bigbusiness

Experienced member
1,408 23
I have a fast connection and have had problems with them. Sometimes there are too many people using their online platform and it has slowed down and crashed in the past.
 

Wideboy

Well-known member
489 1
riwf:

have you had any joy, was expecting to see a post from you regarding your weeks work?

Wideboy
 

Wideboy

Well-known member
489 1
I have been looking at the 'packages' offered by IG - i.e the range of bets where 1 of them will win and the rest will lose.
The FTSE 30 point ranges and Dow 50 point ranges look interesting as there is only 4 possible outcomes - a 1 in 4 chance.

This all sounds very much like gambling speak but this is really what it boils down too. Minimise risk whilst maintaining the opportunity for reward. The prices for these remain fairly low until near to expiry so plenty of opportunity for a nice entry.

Why not just trade Up or down then you may ask? 50/50 chance on that package. True, but then the entry price for these are normally around the 80 mark, far too risky in my book.

A choice of 4 bets, with good low prices seem a good 'bet' so to speak. A fair chance of a good payoff with not such a high risk.

Wideboy (the gambler ;))
 

riwf

Member
87 2
Wideboy.

Fairly good result last week - quadrupled my starting stake. Playing the markets - in any way - is a gamble, unless you know the outcome before you start, and no-one does. All I do is try to reduce the odds against losing. See adrianallen99's post: I would have placed the bet at 71 because the odds say there is a much better chance of winning at that price than at 55, and a win would have brought a return of 40%. If you are willing to accept small, steady returns, there is money to be made.

Good luck
 
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jitasb

Active member
116 3
Hello all..

I've dabbled a bit in binaries and read this thread with interest.
Obviously different strategies being employed by people.

Placing a bet in say the 70's gives you better chance of winning because the odds are greater. but the problem is the risk reward...i.e you lose the 70 points if it goes against you. Although you would close early in that case, I suppose to limit losses.

Other option is to play the long odds and bank on a reversal, i've done this a few times recently on the DOW, where it has hit resistance at the 9750 and 9900 areas. E.g has gone up on start of day strongly, then come down at the end of the day, so placing a bet of say buying the 0-20 up range when the Dow is up over 50 would give you fairly good odds with low risk. The problem with this approach is that the opportunites are not that frequent.

Potentially you could hedge a normal spreadbet position with binary bet...but I haven't really investigated this so don't know if its feasible to make a profit out of it....

Any thoughts from you guys ??

Ta..
 

jitasb

Active member
116 3
Have you guys come across this scenario ??

Was watching the Binary Bets thinking about putting on a position for FTSE 100 at 12pm tomorrow.
The prices suddenly changed and the FTSE was marked down by 15 points. So I placed a couple of bets on FTSE finishing > 30.
Then a few minutes later, the price had changed back again, putting my position immediately back in profit. So I closed.... :)

A few minutes later ...came a phone call from IG saying that they were going to cancel those trades because of loss of price feed and them giving out incorrect prices...It was only a profit of about £100 quid or so...but still...

Has anyone else come across this...and are they allowed to do it ?? Especially since I had opened and then closed a position ...

Ta...
 

delboy trotter

Active member
112 2
jitasb,

This is the equivalent of the bookies "palpable error" and you have no recourse, other than withdrawing your business. I have looked at Binaries and you get the odd occasion when they are out of line, but not very often.

Didn't you know? Thou shalt not win! Written on the wall of every bookie in the world!

If you want to play fixed odds. Get along to the exchanges, such as Betfair. I'll see you there tomorrow. Look at the "Intraday FTSE" and I will gladly relieve you of some of your dosh mate!

All the best!


dbt
 
 
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