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Trading sports online can be a very profitable pastime and as an increasing number of people get involved that means just one thing… liquidity. With the invention of the betting exchange and also the rise and rise of the main one, Betfair, there is increasingly extra money being traded on sports.
From horse racing to tennis and football to greyhound racing there are plenty of markets to pick from and focus on. You’ll find even markets for financials and politics.
In-play betting and also the capability to place “lay” bets have revolutionized our ability to benefit from these markets (for anyone not within the know a lay bet is betting that an event will not occur ie a horse will not win a race). Just watch any in-play tennis match and see how the odds move. Making feeling of these patterns and developing successful strategies to make regular profit is the holy grail for a lot of men and women.
The fundamental theory behind all this is that you may need to back at a better price than you lay. It is the exact same as business all over the world, visit here you buy a product at one price and also you sell it at another, the main difference between the two being your net profit.
An example is I back a horse at 2/1 for Ł100. That is 3.00 in decimal odds. If it wins I win Ł200 and get my stake back. Before the start of the race the odds come down to 6/4 or 2.50. I then lay it for Ł100 and in the event the horse wins I have to pay out Ł150. The real difference between my back winnings and my lay liability is Ł50. Which is what I would win if this horse wins and if it will not, I lose nothing! A cost-free bet. The really neat trick is to “hedge” your winnings out so you win the exact same amount regardless of which horse wins. In the above example I could lay the horse for Ł120 guaranteeing me a Ł20 profit.
The obvious problem is what happens should the odds rise? You are left with a bet you cannot sell or get rid of without losing at least some of your stake. This really is where the main difference between traders and gamblers comes in. A gambler takes risks so that you can possibly achieve a profit. A trader is happy to take a series of small losses safe in the knowledge that the wins will outweigh the losses.
There are several and varied approaches to trading but the most critical thing is discipline. As soon while you fail to close a trade which has gone against you you are no longer trading but gambling. Sure, you might get away with it but when it goes wrong you shall certainly lose a great deal more than you bargained for. The best way to focus your mind and prevent the gambling tendency arising is to work to strict strategies with defined entry and exit points.