Winning on Betfair – my strategy
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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[…] 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/ […]
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