Updates
3M seems to be going nicely now, seems that the experts who reported that the early part of the season is difficult were spot on.
If anyone is still following Tabs are you results as mine? Hopeless!
For me I am giving up on them, I like their strategy but there are simply too many losers to make it a viable proposition.
Anyone got any further thoughts on making money on the exchanges? I have been looking at all the posts and either the clever people are keeping it to themselves or it is very tricky!
Dave
3M seems to be going nicely now, seems that the experts who reported that the early part of the season is difficult were spot on.
If anyone is still following Tabs are you results as mine? Hopeless!
For me I am giving up on them, I like their strategy but there are simply too many losers to make it a viable proposition.
Anyone got any further thoughts on making money on the exchanges? I have been looking at all the posts and either the clever people are keeping it to themselves or it is very tricky!
Dave
I would certainly not lay their tips for the simple reason that one winner at 10 wipes out 10 lays!
The odds are just not a viable proposition to lay.
Personally I think the lay idea is one worth exploring further and was one of the main reasons for starting this thread.
To date I have not seen any convincing arguement that would lead me to attempt lays.
IMHO it is simply too risky.
Dave
The odds are just not a viable proposition to lay.
Personally I think the lay idea is one worth exploring further and was one of the main reasons for starting this thread.
To date I have not seen any convincing arguement that would lead me to attempt lays.
IMHO it is simply too risky.
Dave
Scripophilist
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Forget backing or laying you need to be trading the exchanges. That's were the money is. Trade the odds just like you would a short term financial instrument.
Yes Sir,
totally agree and I think I need to read more of the good work you have done on your site.
My lack of understanding means that I cannot yet trade confidently. My concern is how you limit losses when the position goes against you.
I understant the theory that you evaluate a position and watch the odds change so you can "green", correct?
I guess that as a starter 3 position bets(e.g. football) are the easiest to learn?
Regards
Dave
totally agree and I think I need to read more of the good work you have done on your site.
My lack of understanding means that I cannot yet trade confidently. My concern is how you limit losses when the position goes against you.
I understant the theory that you evaluate a position and watch the odds change so you can "green", correct?
I guess that as a starter 3 position bets(e.g. football) are the easiest to learn?
Regards
Dave
Scripophilist
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I use some software I have designed in order to manage my stop losses. The main markets for me are horse racing and soccer as they account for around 75% of turnover on these markets.
The aim is to trade it so you lose no matter who wins the underlying event, Going green. Green representing the colour of your P&L when you can't lose.
The aim is to trade it so you lose no matter who wins the underlying event, Going green. Green representing the colour of your P&L when you can't lose.
Euro_d said:
Isn't one strategy to back them with the bookies and lay them on the exchange?
The thinking being that the one that wins the race will pay the losses on the exchange from the bookies winnings.
I haven't tried it myself, I agree with you it is too risky if you don't know wht you are doing.
Trader333
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If you do that then you will lose almost every time. The bookies always give worse odds than the exchanges and you would have to lay at higher odds than the bookies so your net position would be a loss.
The only time this would not happen is if you have placed bets some time in advance of the event.
Paul
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The problem you get with plain old arbitrage is that when you get to any decent size you start to have problems with bookies either refusing bets, not honouring them or restricting prices. Its not the universal pancea it is made out to be. There are much better ways to make money from the exchanges. I am active on them all the time and do very well from them.
Scripophilist
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I've just launched a free product called www.betangel.com, worth having a nose if you are interested in trading these markets.
Scripophilist
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The wonder of these markets are there are no transactions cost, you only pay commision when you win and even a loss isn't necessarily a loss. If only the stock market worked the same way.
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Has anybody here attended Scripophilist's (aka Peter Webb) course offered at http://www.glomtc.com/betexch.htm? I have asked Peter for more information in a PM, but would appreciate any independent review on this.
Thanks.
Thanks.
Not 100% correct Sir, however, I agree with the point in principle.Trader333 said:
Have a dekko at www.oddschecker.com, exchanges are not always the odds.
Cheers
Dave
I do not know of anyone who has attended his courses, I assume you mean the betting exchange course?pratbh said:
My only comment is that I have read Peter's work on his various websites and he seems to be a genuinely very clever and successful individual. Therefore, I am sure that we all could learn from him.
Peter, I like very much your exchange software, it seems to encompass the desires that prompted me to start this thread. I will play for a while and come back to you.
Dave
Scripophilist
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The economic payoff of trawling other odds hardly compensates for the speed and total exchange experiance IMO.
