A Betfair Trader is a bit more sophisticated than your traditional gambler…  he or she is able to react to the changing sentiments of a market which in turn drive the movement of the odds.

I have played around with Betfair for a few years and looking to increase the sophistication of how I use Betfair. I currently have a simple system which is ok.. however, I want to get more out of it. If you want to read my simple strategy, click here: http://www.makemesomemoney.co.uk/2008/09/11/winning-on-betfair-my-strategy/

I have recently got hold of Easy Trader Pro 2 which shows you how to get into the more sophisticated areas of Betfair. For example, it is possible to end up with something like this:

This shows that no matter what the score is, you’ll make money! This is about the ever changing sentiment of a sports events driving changes in prices and allow you to take advantage of the situation and lock in profits.

Easy Trader Pro 2 is a collection of Betfair trading systems just like in financial trading. You can choose the one that suits you to use. There is a guide showing you the basics of Betfair and how to use each system. In addition, there are videos to further enhance your learning.

It costs £47 ($75 USD) which I think is really good value for the tuition.

You can read about Easy Trader Pro 2 and order your own by clicking here

I like to diversify the way I make money… as you know, the blog has a strong element of financial trading of which is my main passion..  unfortunately, over the weekends, the financial and Forex markets aren’t open for trading so I like to look at other things such as playing Casino or Betfair.

As a quick diversion, I have my Casino strategy that I play at http://www.600percentin6days.com and currently, it’s a free download so have a look if you’re interested.

The other alternative at the weekends is Betfair which is betting on sports. Betfair also have other things such as casino, financial bets etc. but I use them mainly for bettings on sports.

Anyway, I have found a tool called Bet Angel which is a plugin to Betfair and allows you to ‘see’ the markets more clearly. Now Bet Angel can be quite a complicated program if you don’t know what you’re doing and is mainly good for the horse racing markets which are fast moving.

However, they also have their free version which you can use if you want something simple and not too sophisticated.. this is the one that I use. You can use it to watch the odds move up and down and hence trade a trend (just like the financial markets).

You can download the free Bet Angel program here:

http://www.betangel.com/downloads/index.html

There are also online videos which you can view to learn more about the Bet Angel Professional product here:

http://www.betangel.com/main/training.php

The basic tool has worked wonders for me and one day I would like to learn how to ‘trade’ using the Professional product also..  anyway, just thought it maybe useful to some of you!

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!!

Get a FREE £10 bet by clicking here