Trading on the betting exchanges.

[flukey luke]

Roulette is not my only passion, I also like to play on the betting exchanges.
Here in the UK we have a company called betfair which is great for trading.
The beautiful thing about this is that you can choose to be either a 'backer' or 'layer'.
So if you fancy something to win, you back it. If you fancy something to lose, you lay it.
There is plenty of liquidity in the market and I personally never have a problem matching any of my bets with other customers on the site. The company really just acts as a middleman. They take a small comission of winning bets.
I will start giving out a bet on most days day, it could be a 'back' or a 'lay'.
The backing aspect should be simple enough for anyone to understand.
example: back horse a at odds of 2/1. You will be returned 2/1 + your stake back.
Laying is a bit more difficult. Suppose you did not fancy horse a to win at 2/1. Here you are offering someone else to back it with you, if it loses, you keep their stake. If it wins, you pay them out. Obviously it is up to you what you are prepared to win or lose.
If you decide to lay the horse for 60.00 of your own money, that means you stand to win 30.00 should the horse lose. If it wins, you lose your 60.00.
On betfair, you can back or lay more or less any sporting event that is happening around the world. I will be mostly concentrating on horseracing on this thread.
If you don't have access to betfair, then when I recommend a bet to 'back' you should still be able to use a traditional bookmaker to get a bet on if you wish.

Bet number 1.
2.35 exeter. sommersby. (back to win) The current price is 3.5 or 5/2 in my language. This means if you place a 10.00 bet and the horse wins, you get back 25.00 winnings + your 10.00 stake back.
I will keep a running total of all the bets and I expect to make a profit at the end of every month.
I would recommend putting the same stake on each selection regardless of the odds when backing the selections.

[VLS]

Ah! Thanks for what promises to be an excellent thread with actual tips.

Excellent expansion for the "Online Gaming" section

Good on ya Luke!

Hope you get good feedback.

Cheers!

[flukey luke]

@Victor, I imagine I will get good feedback for the winners and 'not so good' feedback for the losers.  Only joking. It is a long term project and the aim is to show a monthly profit.

[VLS]

I imagine I will get good feedback for the winners and 'not so good' feedback for the losers.

hahaha, pretty sharp conclusions

Looking forward to see the development of the thread 

Cheers!

[malcop]

hahaha, pretty sharp conclusions

Looking forward to see the development of the thread 

Cheers!

Hi flukey luke

Good luck with this thread, I used to do a lot of trading on Betfair a few years ago, but work got in the way, but this is something I will be picking up again in the new year.

Thanks

malcop

[Twisteruk]

A nice 2m 1f Handicap Chase-going Soft

This is the sort of race i wud not touch with a barge pole lol 

I see TWIST MAGIC runs today at 22/1


However if I were to play it would be on TCHICO POLOS Each Way at 4/1 


SOMERSBY is as low as 7/4 in places now

[Twisteruk]

Oooooo I had a nice 1st-2nd Forecast  Paying 45/1 


Exeter 2.35  Full Result    

1st Tchico Polos  3-1

2nd Twist Magic  16-1

3rd Somersby  9-4 F  
   

[VLS]

Oooooo I had a nice 1st-2nd Forecast  Paying 45/1 


Exeter 2.35  Full Result    

1st Tchico Polos  3-1

2nd Twist Magic  16-1

3rd Somersby  9-4 F  
   

wohooo! Congrats

[flukey luke]

Well done Twister, I thought the second string was going to get up and beat the other one for a moment.

Well, I started with a loss. So -1 point after today. Tomorrow is another day.

My average so far this year is at +22 per month, so don't panic just yet. 

[Twisteruk]

Thanx 

I will follow with interest as I play all my horse bets on Betfair 


I do love an each way tickle against a talking horse fav 


+22 per month is good 


Whats ure POT luke ?

[flukey luke]

Today's selection is the following.

Bet number 2.
4.05 nottingham. hail tiberius. (back to win) the current price is 13.0 or 12/1.
With this one, I suggest to do it each way. So basically you are just splitting your 1 point stake in half.

good luck.

[flukey luke]

The horse today (hail tiberius) will appreciate the extra furlong and the heavier going.
I fully expect it to run into a place at the very least. 

[Twisteruk]

Good luck luke !

I'm going Each Way on HIGH FIVE SOCIETY at 7/1  



Ure one is 14/1 with Skybet !

[flukey luke]

Good luck Twister,

Let's hope one of us right.  (or both for that matter) 

[Twisteruk]

Yeah I will do a RFC as well with ures  


Mines up for the Treble, horses for courses and all that........has a high draw which is good in my opinion


Good luck !


EDIT:

I see the Price crashed just after our exchange of messages ! 14-----10/1

Where do you get U're info from ?