Betfair trading is really simple. It looks complicated but it really isn’t. What it boils down to is backing high and laying low or visa versa. We need the odds to move in our favour and then we can essentially cash out for a profit, often before the event even begins. We are basically creating arb bets with the advantage of time.
Of course trading is gambling and not risk free like matched betting. However we can mitigate the risk by looking at form and betting wisely. After all we don’t actually need our bets to win, we just need the odds to go in the direction we want. Recently on the Mayweather vs McGregor boxing match it was possible to get great trades on McGregor. His odds came tumbling in as the media built him up. The bets piled in and anyone who had gotten on early could lay the bet off for a big profit. McGregor went on to lose the match of course but the traders had already made their money.
A common trading method is knowing as dobbing or double or bust. That is where we back a horse and then immediately lay the horse for half the odds at twice the price. The key to these bets is making sure to tick keep in play. The chances of the bet getting matched in play are greatly increased as the horse jostles for position in the race. A good tactic is to research front runners, that way we can back the horse at a high price and then trade out when it hits the front of the pack. Front runners usually go onto lose races so it’s pointless letting the bet ride. Trading is all about taking the guaranteed profit and resisting the gamble. That is how the big traders make their money.
Another tactic is to lay the draw in football. By laying the draw before the game we can then potentially back the draw at higher odds once a goal is scored in the game. Obviously if the game turns out to be 0-0 we are out of luck but usually there are goals and we can make a profit. If we think it’s going to be 0-0 we can still trade out for a small loss to minimise losses. We don’t have to let the full bet be lost.
The key to trading is being at the computer when the event is live. The odds move around so much when sport is in play that it is then when we will get the chance to profit. Chances are the odds won’t move that much before an event starts unless it is an event like the boxing I mentioned when there is weeks and weeks of media build up.
Trading is easy to get started in, all you need is a betfair account. Once you get to grips with the basics you can move up a level and get some software called Geeks Toy. This allows you to back and lay with one click and allows you to place many trades very quickly. Letting you get in and out for profit at speed. That is how the pro’s do it. Learn the ropes first though as Geeks Toy can be confusing.