I didn’t see any opportunities today on the stock markets or Forex.. nor did I have much time so I thought I would play around with Betfair again.

Those that follow my blog probably think I’m a little crazy in that I like to dip my fingers in everything. Yesterday I talked about selling option premiums as a strategy in making money in the stock markets.. there are a few book volumes which I need to get through to understand and really get into the nitty gritty of it all. It’s a little confusing right now with all the strategies that one can follow.

Anyway, back to Betfair. I put some money on the horses today.. the strategy that I use for Betfair is very simple.. I only like to go for low risk type trades.. slowly but surely.. like the tortoise and hare story. Ok, the strategy is:

• Go to a horse race and look for the ‘to be placed’ bet. The ‘to be placed’ bet means that your chosen horse can come first, second or third in the race for you to win. In races, where there are a lot fewer horses in the race, this bet will only allow first or second as winners so check the bet rules to make sure.
• Put money on the favourite horse.. this will have the lowest number. I only put on bets if the number is between 1.35 and 1.90 .. don’t bet outside these boundaries.
• By putting this bet on, this means that the favourite horse has to come first, second (or third) for you to win.

By doing this today, I was able to put on 4 bets and win on all 4 of them for a 5% increase on my account!!! Wahey!!

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Tags: bet, betfair, betfair strategy, betting, betting exchange, betting strategy, free betfair bet, free £10, gambling strategy, horse racing, makemesomemoney

I thought I’d try some sports trading the other day using Betfair. In the past, I have managed to triple my starting pot using Betfair but then lost it all when I played with their Betfair Poker application.. keep away from that, it’ll eat all your money!

Anyway, I thought I would give it a try in the Horse Racing market. The strategy was quite simple, watch the trends in the price and when it looks like it would win, the put on a bet for that horse to win. To minimise risk, where possible, I would lay the same horse when the price was favourite to generate a situation where you can either eliminate any loss to your account (you don’t lose money if the horse wins or loses) or at least, minimise it.

I must admit, I’m not very experienced with this but I understand the concepts. Anyway, I started off with just £2 bets and as I got a little better, I put on £4 bets. 14 bets later I ended with 11 cash wins, 2 losses and 1 scratch trade, I ended up with £23.62 profit!! Excellent!

See my cash statement below (click for larger link):

The UK horse racing market stops at 4pm GMT and then then there is the US market. However, the US market doesn’t seem to offer the cash volumes as the UK market so I didn’t bother trading it.

I started at 2pm GMT but the market for horse racing in the UK starts around 12pm. If I have time tomorrow, I’ll go in a bit larger and start at 12pm if I can. At some point, I’ll do a video so you can see how I am doing this for those interested.

Tags: bet, betfair, betting, free bet, make money, sports betting, sports trading, Trading, trading blog, william hill