Opinions on betsfortraders.com

Guys this company has been going 5 weeks and seem to offer a whole host of oportunities. The slide rule makes it so easy to adjust the bet to what you want.Has anyone used them ans what do you think.It seems to me an experienced trader would run rings round them. I spoke to them and they said they hedge most bets and dont care if anyone keeps winning. any comments welcome

I think they've just gone into full operation this week, as they were mainly only offering forex on their bets, but are now offering Index and Stocks as well.

I've been testing a few things out over the weeks, but was waiting until they introduced the Index binaries, before I go in head first.

I know NotQuiteRandom(NQR) was doing some good business with them, hopefully he can inform us of his views of the last five weeks.

Blu-Ray

Can they possibly be hedging all their bets,. I have been trading futures for 5 years showing a little profit. My problem such as when to get out of a losing or winning trade would be totally aleviated using their 15 mins bets.My other concern is that they may bar punters but I can see NQR has taken his 10,000 to Aus. They cant possibly want people like him trading with them unless they completely hedge his bets. I know companies like Ladbrookes would just refuse your bets straight away

Hi guys,

The index bets are my new staple since they put them on. Friday was a joke, when the indices jumped up I completely cleaned up. I made a lot of money, more than I have on any other day with them. I did well on BB as well but prefer the slider bar interface that betsfortraders have.

I called the helpdesk to withdraw a chunk as I don't like my account to get too big and I spoke to the helpdesk manager. Conversation went like this:

Me: "Please wire me XXXXXX to my account YYYYYYY"
Him: "Wow, you had a good day"
Me: "Yes I did, thank you. When are you going to stop me trading?"
Him: "Huh?"
Me: "If you are not hedging this stuff surely you are losing a lot"
Him: "We do hedge a lot of risk from the book, it is all grouped up and what we can't offset we make a judgement call on using our systems."
Me: "Ok, have you ever stopped anyone trading before?"
Him: "No. For two reasons, first, we don't need to. Second, we could not do so even if we did want to, it isn't possible. Lets say we decided to close you down, you would be back the next day with an account in your wife/mother/brother or friend's name. We can't keep track of people doing this and it would be an inevitable reaction".
Me: "Ok, where are we on that wire? Can you same day it?"
Him: "Sure, if you pay the same day wire fee"
Me: "Groan, ok"

etc.

My conclusion is that these guys are good. I have said so all along. Still, my practical advice when dealing with any bookie is: 1) Don't keep more than 10k in your account at any time. 2) Don't play with money you can't afford to lose. 3) If you have a big win, don't get cocky and if you have a big loss, don't get discouraged. The markets are the same as they were before the event!

If Ladbrokes shut you out after winning too much, do what the betsfortraders helpdesk guy said people would do. Get the Mrs to open an account!

Just my 2c,

NQR

its lovely to hear of people clearing them out. Im not sure how they can hedge some of the bets though. They are regulated in the isle of man. What would happen if they wanted to shut down and run with our money is this possible. How secure do you feel about them ? It seems a great new way of betting almost to good to be true.

I had a quick look at the regulators / legal framework in the Isle of Man. It is basically the same as the UK I think. They are only a few miles off the coast of Liverpool anyway. You can see the regulators here http://www.gov.im/gambling/

Also, Paddy Power and others seem to be there so I am sure it is kosher.

NQR thanks for your input, why dont they offer intrad-day one touch and no touch bets 3 days is a long time for us intrad-day guys

The touch bets would be good intraday, I agree. Probably tough to hedge I guess, not sure though. Why don't you ask them?

julian said:

NQR thanks for your input, why dont they offer intrad-day one touch and no touch bets 3 days is a long time for us intrad-day guys

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Very true, I would also like to be able to "close out" a position early. Even though 90% of the time I let them run to expiry through BB, it's nice to know that you can close out early if needs be.

Blu-Ray

Blue Ray NQR do you guys trade binaries full time and make good money doing just that. I used to trade futures(4 years) until 18 months ago gave up too much stress and not making enough nut feel sites like BFT will make all the difference for me.

Yep, I make a living from betting.

Yes, I do also , but I split between futures and binaries.

Blu-Ray

NQR, I'm sticking my neck out here, and agreeing that you make a living out of betting. However, would it be fair to say that's because you work for BFT? If so maybe you can help me cos I've got some questions.

I'm a bit confused about the binaries. It says how much I can win, but surely that figure is how much I get back including my stake? I would define winnings as the profit, above and beyong what I risk. Seems disingenuous to me.

And why is there a £150 cap on how much you can win on the hourlies, where is the interest there?

I was never a fan of Bet on Markets and this just looks like a tarted up version of that. Much prefer to see Buy and Sell prices on the same screen where I can quickly take a view rather than fiddling around looking for a price.

He works for bft..........explain please

NQR whats the best way to hedge a 15 moin bet > say ive got £200 for ftse to be below 6684 and the price is 6682 with 7 mins left and I got about even money,thanks

I am not an employee at BFT or anywhere else. yorkshires_finest is simply attempting to detract attention from his agenda and engage in a little mischief. As I have no interest in responding to such claims I will not engage in a back and forth on who is more loyal to which bookie or why that might be.

In answer to your question julian:

NQR whats the best way to hedge a 15 moin bet > say ive got £200 for ftse to be below 6684 and the price is 6682 with 7 mins left and I got about even money,thanks

I'm not quite sure I get what you are saying? You mean you want out early? If so just take the other side and place a bet with the same payout. Having said that, as they minimum expiry time is 15 minutes and you are talking about 7 it wouldn't work. My 2c... don't place 15 minute bets unless you want to keep them to expiry.

they only seem to take bets to win 1000,surely big players would want larger bets than that to get a better book.I dont bet that much yet. NQR as I thought youd just have to see the bet out and not lay it off

Hi, have the spreads been wider today on Index bets?

I think they are the same at the money and the out of the money ones are also priced as before. I think they are a bit more expensive in the money though on some. Not sure why. The in the money ones were cheaper this morning, got more expensive around lunch time, then seemed to go down again and now are higher. I don't care as I don't trade in the money bets but I had spotted it.

julian said:

they only seem to take bets to win 1000,surely big players would want larger bets than that to get a better book.I dont bet that much yet. NQR as I thought youd just have to see the bet out and not lay it off

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£1000 is the same as £10 pp on BinaryBet.

That is quite weak, almost a waste of time, especially for in the money bets.

Seems like this company doesnt have much confidence in their own product.