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Trading sports online can be a very profitable pastime and as more and more 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 additional money being traded on professional sports.
From horse racing to tennis and football click here to visit Cfi for free greyhound racing there are several markets to pick from and concentrate on. There are actually even markets for financials and politics.
In-play betting and also the ability to place “lay” bets have revolutionized our ability to make the most of these markets (for those 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 will be the holy grail for a lot of men and women.
The basic theory behind all this really is that you’ll need to back at a greater price than you lay. It really is the same as business all over the world, you buy a product at one price and you sell it at another, the difference between the two being your net profit.
An example is I back a horse at 2/1 for Ł100. That’s 3.00 in decimal odds. If it wins I win Ł200 and obtain my stake back. Prior to the start of the race the odds come down to 6/4 or 2.50. I then lay it for Ł100 and if the horse wins I have to pay out Ł150. The difference between my back winnings and my lay liability is Ł50. That’s what I would win if this horse wins and if it does not, I lose nothing! A free bet. The really neat trick is to “hedge” your winnings out so you win the same amount regardless which horse wins. In the above example I could lay the horse for Ł120 guaranteeing me a Ł20 profit.
The obvious problem is exactly what happens should the odds rise? You are left with a bet you can’t sell or get rid of without losing at least several of your stake. This really is where the main difference between traders and gamblers comes in. A gambler takes risks in order to possibly achieve a profit. A trader is happy to take a series of small losses safe within the knowledge that the wins will outweigh the losses.
There are several and varied approaches to trading though the most important thing is discipline. As soon as you fail to close a trade that has gone against you you are no longer trading but gambling. Sure, you might get away with it but when it goes wrong you will certainly lose a lot more than you bargained for. The most effective way to focus your brain and stop the gambling tendency arising is to work to strict strategies with defined entry and exit points.