Betfair Trading Basics
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The basics of trading
The basic we are going to go through from now on will work with any event on
Betfair. These are the building blocks of exchange trading and are all you
need to know to get going.
The individual football, horse racing, rugby and non-sporting event manuals
explain in much more detail the finer points of each. You should understand
the basics first then move on to find out about each manuals exact methods of
trading. This will ensure you get a good understanding and have all the tools
and skills you need to succeed as a trader.
How to identify a possible trade
Identifying trades is a simple thing to do like anything really if you know where
to look for the information that will help you.
The key to successful trading is research, research, research. Especially
when it comes to trading on football matches.
You can’t just pick an event and bet on it in the hope the outcome will go
your way and you can complete the trade. So many times in the early days of
trading we managed to come unstuck and lose money that we thought was
going to be easy to trade. We had no idea really because we didn’t research
the possibilities.
You need to have an idea which way the market is likely to shift or which way
a particular match is likely to go. If you get it wrong it can have dire
consequences. The first step to identifying trades is to look at the possibilities
for trading that day or week. We usually trade on a day to day basis starting in
the morning by looking at what events are in-play for the day.
Each sporting manual in the later chapters will tell you how to find the events
that are best traded on. You will need some information to help you make
decisions about which football or rugby match to trade on and we show you
how to find it in each chapter. When you select an event you think you would
like to trade on you need to research it and see if there are indicators as to the
possible outcome.
What type of trade to use
There are 2 main types of trade you can carry out. The first we will look at are
in-play events. We will look at what we call market shift trading a little later.
In-play trading
This is a quick trade that usually happens in a single event like a football or
rugby match or horse race. The event will be over within a couple of hours or
with a horse race a few minutes. You will need to see which events are in-play
for the day so you can research them and find out which are the best trades
for the day ahead. You can do this by looking at the in-play events on Betfair
that we showed you earlier. Horse racing is always available in-play or inrunning
as it is also called but only certain football matches are available.
So how do you trade in-play events?
Well trading on an in play event is simply laying or backing an element of the
event to guarantee you make a profit. The key to in-play trading is knowing
what is likely to happen in the event and therefore which way the market is
going to shift. The market will move a lot during an in-play event as the game
is played out or the race is run.
Betfair. These are the building blocks of exchange trading and are all you
need to know to get going.
The individual football, horse racing, rugby and non-sporting event manuals
explain in much more detail the finer points of each. You should understand
the basics first then move on to find out about each manuals exact methods of
trading. This will ensure you get a good understanding and have all the tools
and skills you need to succeed as a trader.
How to identify a possible trade
Identifying trades is a simple thing to do like anything really if you know where
to look for the information that will help you.
The key to successful trading is research, research, research. Especially
when it comes to trading on football matches.
You can’t just pick an event and bet on it in the hope the outcome will go
your way and you can complete the trade. So many times in the early days of
trading we managed to come unstuck and lose money that we thought was
going to be easy to trade. We had no idea really because we didn’t research
the possibilities.
You need to have an idea which way the market is likely to shift or which way
a particular match is likely to go. If you get it wrong it can have dire
consequences. The first step to identifying trades is to look at the possibilities
for trading that day or week. We usually trade on a day to day basis starting in
the morning by looking at what events are in-play for the day.
Each sporting manual in the later chapters will tell you how to find the events
that are best traded on. You will need some information to help you make
decisions about which football or rugby match to trade on and we show you
how to find it in each chapter. When you select an event you think you would
like to trade on you need to research it and see if there are indicators as to the
possible outcome.
What type of trade to use
There are 2 main types of trade you can carry out. The first we will look at are
in-play events. We will look at what we call market shift trading a little later.
In-play trading
This is a quick trade that usually happens in a single event like a football or
rugby match or horse race. The event will be over within a couple of hours or
with a horse race a few minutes. You will need to see which events are in-play
for the day so you can research them and find out which are the best trades
for the day ahead. You can do this by looking at the in-play events on Betfair
that we showed you earlier. Horse racing is always available in-play or inrunning
as it is also called but only certain football matches are available.
So how do you trade in-play events?
Well trading on an in play event is simply laying or backing an element of the
event to guarantee you make a profit. The key to in-play trading is knowing
what is likely to happen in the event and therefore which way the market is
going to shift. The market will move a lot during an in-play event as the game
is played out or the race is run.
Example of an in-play trade
We traded in-play on the Scotland v France match of the 6 Nations rugby in
2006. France were the odds on favourites to win the match and Scotland were
the rank outsiders.
We thought Scotland had a better chance of winning than their odds
suggested so as the match kicked off we placed a lay bet on France of £500
at odds of 1.45. There isn’t a great liability there if France did win the match
as the odds were so low. We could have traded out if France scored a couple
of tries at around 1.25 – 1.30 early on so would have minimised the bet and
taken a small loss.
As it happens Scotland scored first and as they did so the odds on France
went up a little to around 1.65. Obviously it was early on in the match and
France could have come back and scored easily so the odds didn’t drift too
far. Right now we could have traded out of the bet by backing France at the
higher odds of 1.65 and made a profit but we though Scotland were still
looking the stronger side so decided to stick with it. Low and behold Scotland
scored again and at half time France had made a little headway and the score
was 13-3 to Scotland.
The second half
The odds now were up to 4.00 and a fantastic trading opportunity for us so we
took the odds and made a lovely guaranteed profit.
The second half was a bit more dicey with France scoring a try early on and
the odds dropped sharply back down to 2.00 which we though was excellent
as we just traded out at 4.00.
This just shows how much the market can shift in-play and this was a tight
game so the odds weren’t swinging greatly. They can swing much more than
this. As it happens Scotland won the match and we could have made £500 by
just leaving our original lay bet as it was but what if France had won by 1 point
in the final 5 minutes which was totally possible????
As it was we made a nice profit with no risk at all and we will go into the how’s
and whys of in-play trading in the manuals later in the chapters. We wanted to
give you an example of an in-play trade to show you how it works and why it
works here so you have all the information you need to start trading now.
We traded in-play on the Scotland v France match of the 6 Nations rugby in
2006. France were the odds on favourites to win the match and Scotland were
the rank outsiders.
We thought Scotland had a better chance of winning than their odds
suggested so as the match kicked off we placed a lay bet on France of £500
at odds of 1.45. There isn’t a great liability there if France did win the match
as the odds were so low. We could have traded out if France scored a couple
of tries at around 1.25 – 1.30 early on so would have minimised the bet and
taken a small loss.
As it happens Scotland scored first and as they did so the odds on France
went up a little to around 1.65. Obviously it was early on in the match and
France could have come back and scored easily so the odds didn’t drift too
far. Right now we could have traded out of the bet by backing France at the
higher odds of 1.65 and made a profit but we though Scotland were still
looking the stronger side so decided to stick with it. Low and behold Scotland
scored again and at half time France had made a little headway and the score
was 13-3 to Scotland.
The second half
The odds now were up to 4.00 and a fantastic trading opportunity for us so we
took the odds and made a lovely guaranteed profit.
The second half was a bit more dicey with France scoring a try early on and
the odds dropped sharply back down to 2.00 which we though was excellent
as we just traded out at 4.00.
This just shows how much the market can shift in-play and this was a tight
game so the odds weren’t swinging greatly. They can swing much more than
this. As it happens Scotland won the match and we could have made £500 by
just leaving our original lay bet as it was but what if France had won by 1 point
in the final 5 minutes which was totally possible????
As it was we made a nice profit with no risk at all and we will go into the how’s
and whys of in-play trading in the manuals later in the chapters. We wanted to
give you an example of an in-play trade to show you how it works and why it
works here so you have all the information you need to start trading now.
The rugby trade explained
We layed France at odds of 1.45 with £500 = Liability of £225 if they win and
profit of £500 if Scotland win or the match is a draw
At half time we backed France at 4.00 with £200
Profit if France win = £575 (£800 – original liability of £225)
Profit if Scotland win = £300 (£500 – France back bet of £200)
Profit if match draws = £300 (£500 – France back bet of £200)
You can see that no matter what happens in this rugby match we will win a
minimum of £300! Which we did as Scotland went on to win 20-16.
We layed France at odds of 1.45 with £500 = Liability of £225 if they win and
profit of £500 if Scotland win or the match is a draw
At half time we backed France at 4.00 with £200
Profit if France win = £575 (£800 – original liability of £225)
Profit if Scotland win = £300 (£500 – France back bet of £200)
Profit if match draws = £300 (£500 – France back bet of £200)
You can see that no matter what happens in this rugby match we will win a
minimum of £300! Which we did as Scotland went on to win 20-16.
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