What’s the secret for real long term profits on Betfair? My ten years experience and constant testing would say it’s using Betfair trading strategies.
An ever increasing number of events and markets on Betfair now have the ‘In Play’ option. To clarify what this means let’s take the example of a football match. In a traditional bet the market is frozen once the game kicks off and we have to wait for the final outcome to know if we’ve won or lost. In Play betting means we can literally do that. We can wait until the match has played for a while before deciding which way it might go. Or more excitingly, we can start with one bet and then make others to trade for a profit on Betfair as the match unfolds.
A similar strategy is possible on horse racing and many other sports and events but the fast nature of these mean some type of betting bet may be needed. You can of course use a betting bot for football but the nature of the game means manual trading is also possible.
One of the oldest and most common strategies is that of ‘lay the draw.’ As the name suggests, this involves laying the draw (betting that the match won’t end as a draw) before kick off. We then make Betfair trading bets as the game unfolds. Ideally one team will score a goal and the odds of the match ending as a draw shift. This gives us the chance to place another bet and lock in a profit.
The ultimate position to be in is often called ‘greening up’ and many experienced traders view this is the true Betfair secret. Anyone familiar with how the site works will know that green indicates a winning position. By combining bets it’s possible to ‘green up’ meaning that whatever happens and whichever team wins we still make a profit.
I have tested many strategies and have concluded that the football (or soccer) markets are the best place for profitable Betfair trading. The vast range of markets opens up many opportunities. For example, we can back the next team to score a goal, the final score, even the score at half-time. All of these create options.
When I teach people trading I encourage a ‘paper’ approach at first. Watching the impact of changes during play is key in making long term profits. An understanding of how odds shift is a key skill.