Don’t just place bets online; trade them
Today, anyone who has the odd bet on a sporting event or fixture will generally do so online. It’s so much easier than going down to the bookies, and all the bookmakers have online sites and mobile apps, so wherever you are, you can get a bet on within a couple of clicks.
by Paolo Camera
Savvy bettors will use a betting exchange like Betfair rather than place bets with bookmaker sites. The reason for this is that you get better margins, better odds and you can not only place bets; you can also lay them. Laying a bet means accepting somebody else’s bet. For example, if you think that Everton don’t have a chance of winning the FA Cup this year, but they’re currently available at 20/1 on Betfair, you can choose to lay someone else’s bet backing Everton. Then, as the end of the tournament approaches, the odds may shorten or lengthen and you can decide to lay more bets, or not, depending on Everton’s performance.
For more experienced bettors, there’s always the possibility of using a Betfair sports trading app to increase your gambling edge on the site. The trading apps permit you to view multiple markets at once and place one-click bets, so they’re ideal for people who trade bets rather than just place them. A betting trader is a bit more like a stock market trader. They may have no personal interest in which horse will win a race like the Grand National, such as 2014’s Pineau De Re, but instead want to make incremental profits on trading bets – as other people place bets on the horse whose name they like the best, or the one that is favourite to win. In other words a betting trader isn’t that interested in the outcome of a sporting event, more on the movements of the betting market before and up to the result.
In order to make money on bet trading, you have to be one step ahead of everyone else using a betting exchange, and downloading a bet trading app can give you that edge. You’ll be able to place bets more quickly than other users as the apps refresh the markets up to 20 times a second, so you’ll see the most up-to-date prices first.
If you want to get into bet trading using an app, you always have the possibility of switching to simulation mode, where you can experiment with different betting systems using the live data from Betfair. However, in simulation mode, no real money bets are placed, so if your system goes haywire, then at least you won’t suffer a real financial loss. Whenever you wish, of course, you can switch to real money bets.
Most of the trading apps are subscription-based, but you’ll find they usually have a free trial period – giving the perfect option of trying before you buy.