I haven’t mentioned much about my Betfair betting… or Betfair trading but it has been going quite well. So well in fact that my account has swelled 50% and also I have enrolled myself on a Betfair trading course by the Betting Exchange Academy held by Peter Webb.

I am extremely excited by the prospect of this as Betfair seems to be much more easier than financial trading. With my limited experience of Betfair and taking small punts, my account has grown quite nicely. I mention Betfair trading and Betfair betting as I believe that I am currently firmly in the latter… I am betting and not trading. Betfair trading is like the next level up from successful Betfair betting.. if I can trade the Betting exchanges then the potential profits could be huge!

Some Betfair trading blogs which have made interesting reading are:

http://adamheathcote.blogspot.com/ – this guy starts off with £5000 in his account and brings home over £1000 a day in profit. This is 20% increase on his account every day.. this is amazing. He is targetting £150k profits for 2009 and he’s 22 years of age!

http://thesportstrader.typepad.co.uk/ – although this hasn’t been updated for a while, this chap, Ray was making very good money.. not sure why he doesn’t write anymore, guess he felt time was better spent making money than writing about it!

http://thebetfairtrader.blogspot.com/ – this guy was was going to pay for his wedding with Betfair profits.. he succeeded! Now his focus is to turn his original pot of £1k to £101k… sounds crazy huh? He is just shy of £50k so far….

If you read these blogs, you can’t help but be skeptical.. how are these people making so much money in such a short space of time and is it really some sort of scam. My limited knowledge and sophisticated betting techniques have yielded 50% of my betting pot… it is certainly easier than trading! I seriously think it is possible once I get the skills to be able to understand these betting exchanges. I’ll let you know how I get on with the course…

Tags: adam heathcote, betangel, betdaq, betfair, betfair betting, betfair profits, betfair trading, betting exchange, peter webb, sports trading

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