Sports Trading Thread.

anyway moving on... Just a few screenshots to show how this can be scaled up. This is trading the pre race horse markets at £15 a point. (On betfair you need £100 for every £1 per tick you want to trade) SO to trade at £15, you want probably about £2000 in your account. As i don't have that at the moment (in the process of re mortaring and paying for a stag do to Vegas).. I'm using the practice mode to demonstrate this.


Yes i've been critisised for only making a £3-£4 per day bey certain people (which i find slightly rediculous given the returns that some members claim yet never show any evidence of!)., But like any sensible trader, i'm starting off small and trying to build an account in this market that i find a lot more interesting.

And in my defense (not that i need to defend myself ) I've only traded about 6 of the last 30 days, as firstly, i have a job, and secondly i'm running the London Marathon next week so trainng for that has taken up a lot of my free time.

But as you can see by the numbers, with almost £1,000,000 traded in each of the 22 races that occur each day, this type of trading can be scaled up to a level where someone with a larger bank can make a decent return from it.

Anyway, regardless of what a small minority thimk, this thread will not be derailed, nor will i lower myself to the level of the trolls (who are simply going on ignore)

I get my bonus next month, after that i will step it up a gear and show how some real money can be made in these markets.
 

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Note the price highlighted in yellow. (red circle) Thats my stop loss. So if price moves to that point i'm automatically out the market for a £25 loss (1.25%). Just like financial trading.

SO just like trading, you can control you liability.

214254-sports-trading-thread-3.html
 

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And of course, losses are possible. But just like trading, as long as you cut them short and stick to your risk management.
 

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Thats the last race..

I'll be back to my £1 per tick tomorrow! (y)
 

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i am enjoying reading your thread but must be a bit slow on the uptake .Could you break it down a bit more ie when you next bet show exactly what you are doing i do not mind if some of it is after the event.
 
The one thing that does not make sense to me and is one the reason that I do not really care for sports betting, is the all-or-none law. When The Masters began, Speith was on fire and certain other players had bad odds for winning. Let's say that the odds for Speith winning The Masters were at 6:1 in the beginning. As Speith picked up momentum, the odds increased in likelihood that he would win to say around 3:1. Since Speith did not win, it would theoretically have been nice to be able to close your bet there instead of waiting until the end. I know that you cannot do this and that's why I do not care for betting. If you had bet $100 at 6:1 odds and the odds then tightened to 3:1, it would be nice to be able to close your position; thus, doubling your money. However, you must wait until the end, at which point he loses and you lose all your money. This is how it is fundamentally different from the stock market.
 
The one thing that does not make sense to me and is one the reason that I do not really care for sports betting, is the all-or-none law. When The Masters began, Speith was on fire and certain other players had bad odds for winning. Let's say that the odds for Speith winning The Masters were at 6:1 in the beginning. As Speith picked up momentum, the odds increased in likelihood that he would win to say around 3:1. Since Speith did not win, it would theoretically have been nice to be able to close your bet there instead of waiting until the end. I know that you cannot do this and that's why I do not care for betting. If you had bet $100 at 6:1 odds and the odds then tightened to 3:1, it would be nice to be able to close your position; thus, doubling your money. However, you must wait until the end, at which point he loses and you lose all your money. This is how it is fundamentally different from the stock market.

Not sure how it works in the US but we have the option to LAY events as well as BAck them here. We can close our positions because we have an exchange called betfair (the are a couple of others too but bet fair is the main one). In fact, all bookies in the let you cashout your bet when you want. But with betfair your not playing the bookie!


So Yea, if you'd backed Speith before he put 2 balls in the water at 15th, you'd of made a nice profit before he'd even finished the hole.

Just like the stock markets: Buy Low, Sell High
sports markets: Lay Low, Back High



Explained here...

https://www.youtube.com/watch?v=Pi5...uLE6tDU7tDjUGuPt2al7NDnztp7yyGKSec9ZTTqOFcTcQ
 
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Not sure how it works in the US but we have the option to LAY events as well as BAck them here. We can close our positions because we have an exchange called betfair (the are a couple of others too but bet fair is the main one). In fact, all bookies in the let you cashout your bet when you want. But with betfair your not playing the bookie!


So Yea, if you'd backed Speith before he put 2 balls in the water at 15th, you'd of made a nice profit before he'd even finished the hole.

Just like the stock markets: Buy Low, Sell High
sports markets: Lay Low, Back High



Explained here...

https://www.youtube.com/watch?v=Pi5...uLE6tDU7tDjUGuPt2al7NDnztp7yyGKSec9ZTTqOFcTcQ

To my knowledge, sports betting is illegal in the US. There was an injunction placed against one of the biggest companies that would be analogous to betfair in the US. They are in New York. Being a bookie is illegal even in Las Vegas. Even though it's illegal it's still a bit of a gray area.

I believe the one company Fan Duel is allowed to continue its practice while the legislation catches up to technology. I have heard that most Americans use Canadian-based companies.

The taxation in gambling here is quite high. If you make more than $1,200 in a casino, they make you fill out a W-2 before you leave.

If I lose money in the stock market it's a capital loss and I can write it off. If I lose money in the casino I'm S.O.L..
 
i am enjoying reading your thread but must be a bit slow on the uptake .Could you break it down a bit more ie when you next bet show exactly what you are doing i do not mind if some of it is after the event.

I might do a video and show some live trades (just need to work out hoe to do it)
 
Interesting thread.


@ H

Corals run a thing called "cash out" on the footy, which allows you to do as it says at any point through the game(s).

I had a 6 team accumulator running on Saturdays footy where 5 teams were predicted correctly and the 6th team were winning up to the 78th min but eventually drew. The cash out option, if I had been at the computer, would have been the way to go. I was happy enough mind as my 5 team accumulator came in at approx. 11-1

Sports betting, as with trading, there are always judgement calls to be made !
 
Interesting thread.


@ H

Corals run a thing called "cash out" on the footy, which allows you to do as it says at any point through the game(s).

I had a 6 team accumulator running on Saturdays footy where 5 teams were predicted correctly and the 6th team were winning up to the 78th min but eventually drew. The cash out option, if I had been at the computer, would have been the way to go. I was happy enough mind as my 5 team accumulator came in at approx. 11-1

Sports betting, as with trading, there are always judgement calls to be made !

That is very interesting. I had sports betting pegged as risky futures trading. It is elucidating to know that you do not have to wait until the end. I do not sports bet, but I have friends that do.
 
You made the same mistake about futures trading and thought one cant bail out before expiration date .
 
You made the same mistake about futures trading and thought one cant bail out before expiration date .

Says the guy with a fantasy island thread.

+40 GU. (y)

Wow, this is easy to say I made money.
 
Says the guy with a fantasy island thread.

+40 GU. (y)

Wow, this is easy to say I made money.

Yeah but where's your live entry/live exit ?

Maybe its a better idea to not talk about stuff you dont know about , dont embarrass yourself .

Waiting for your live trading journal ...
 
Yeah but where's your live entry/live exit ?

Maybe its a better idea to not talk about stuff you dont know about , dont embarrass yourself .

Waiting for your live trading journal ...

Who cares about a live trading journal! A non-live trade is still better than no trading activity whatsoever. Anyone can type +40 GU. Short AAPL. TP 110.00. :LOL:

"You've been chosen. You're going to the island." Fantasy Island.
https://www.youtube.com/watch?v=vrQZSco77Pg
 
hhiusa's hall of shame :


European style options cant be closed b4 expiration date !

Exercising an option = closing an option position no difference between the 2 concepts !

Futures positions cant be closed b4 expiration date because you are locked in !

Going long and short the same stock is allowed in an interactive brokers account !
 
hhiusa's hall of shame :


European style options cant be closed b4 expiration date !

Exercising an option = closing an option position no difference between the 2 concepts !

Futures positions cant be closed b4 expiration date because you are locked in !

Going long and short the same stock is allowed in an interactive brokers account !

Since when? Find the quotes! :LOL:
 
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