Betfair trading for beginners - Part 1 Starting out.

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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

I always wonder what's going on when I hear 'staking plan'. I'd have a good long look at what you're doing to make sure it's not just gambling especially if it involves raising or lowering your stake based on previous results. Stake size is something you assess for that ONE individual trade and revolves around risk/reward, and of course everything Dallas said.

..But assuming you mean 'scaling up', your mention of a dataset of 2-3000 trades and a 1% variation sounds perfectly sensible, but you have to rememeber that excel is a cold sterile world where everything works perfectly. It needs to factor in the problems you've found in execution, ie the unmatched positions. I could give you a dozen strategies that work great in execl, but can they actually be executed, nope.

..How long have you been trading?
coolrider502000
Posts: 2
Joined: Tue Aug 07, 2018 12:54 pm

Thanks for the replies. To clarify, I began a long time ago doing bookies bonuses, free bets and reload bonuses etc. Later I shop arbed (and did very well for a while) but the bookies soon got to know me and stopped taking any more of my money.

As far as my staking plan is concerned, it certainly isn't gambling or punting in any shape or form. All the bets (lays on horses) are the same size. The ratio between the bank and the bet starts at 50-1 and I started with a £3 lay backed by £100 bank (not quite 50/1 but the matching back has to be at least £2 as you know). There were a lot of ups and downs, but I decided to trade until I doubled my bank or lost the £100. I doubled it after about 6 -8 weeks approx and raised the lay to £5. I did this until I had accumulated a bank of £ 1600, with no additional funds being deposited. In total, 92 - 93% of my bets pay a profit. All the losses are on the 7 - 8% of lays that are unmatched and the horse goes on to win. Of the unmatched lays, 80% lose the race and make a profit of 95% of the lay stake. The average payout odds on the winning horses are just a little too high or just a few more win. If 82% of my unmatched lays lost the race, I'd be rich! It's as close as that, but I just can't see how to close that gap and that is why I wonder if Bet Angel can help.
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Dallas
Posts: 22642
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

Just to clarify you said your not 'Punting /gambling' and all your bets are lays - but the rest of your post sounds like your not greening up (either for a profit or loss) and that it's just straight laying your doing which is hitting a 92%-93% SR
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

walker1222 wrote:
Tue Apr 19, 2016 11:23 pm
Intresting post just getting started in the world of trading, quick question do you think its possible to make a full time living off trading the betfair market if you have like you said a passion for it and find it fun to do?
Yes it's possible to make a hell of a lot more than a living from sports trading. Buying and selling (bets in this case) is the oldest profession in the world so I don't think there's any dispute about it anymore. Buy low sell high has worked for 5000 years.

There's also no dispute that it isn't easy, with passion, hard work and the desire to learn, you could be breaking even in about a year.
james4bond
Posts: 20
Joined: Sun Sep 02, 2018 10:26 am

Hi everyone

I have been using Bet angel for a week and I absolutely love it. I have gone some more advances bets but I just dd the following from the Make Market and broke even. Is this a normal thing? I also did another trade earlier today with a reasnable difference between the back and lay price using Offset Bet with Greening but I only broke even (I know its good to break even sometimes :-) Please can someone tell me why?

Thank you!! James

15-Sep-18
17:10:28 17:05 Chester
Al Destoor - Win
Betfair Bet ID 1:137485335754 | Placed: 15-Sep-18 17:05:22 Back 5.10 10.00 --
-10.00
Lost
15-Sep-18
17:10:28 17:05 Chester
Al Destoor - Win
Betfair Bet ID 1:137485335769 | Placed: 15-Sep-18 17:05:22 Lay 5.00 10.00 40.00
10.00
Won


15-Sep-18
14:27:33 14:20 Listowel
Eglantine Du Seuil - Win
Betfair Bet ID 1:137440037865 | Placed: 15-Sep-18 14:18:35 Back 3.80 20.00 --
-20.00
Lost
15-Sep-18
14:27:33 14:20 Listowel
Eglantine Du Seuil - Win
Betfair Bet ID 1:137440856889 | Placed: 15-Sep-18 14:22:18 Lay 2.70 20.00 34.00
20.00
Won
sandrajames
Posts: 4
Joined: Wed Sep 19, 2018 12:37 pm

This post was very useful to me. Thank you so much
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Dallas
Posts: 22642
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

james4bond wrote:
Sat Sep 15, 2018 5:23 pm
Hi everyone

I have been using Bet angel for a week and I absolutely love it. I have gone some more advances bets but I just dd the following from the Make Market and broke even. Is this a normal thing? I also did another trade earlier today with a reasnable difference between the back and lay price using Offset Bet with Greening but I only broke even (I know its good to break even sometimes :-) Please can someone tell me why?

Thank you!! James

15-Sep-18
17:10:28 17:05 Chester
Al Destoor - Win
Betfair Bet ID 1:137485335754 | Placed: 15-Sep-18 17:05:22 Back 5.10 10.00 --
-10.00
Lost
15-Sep-18
17:10:28 17:05 Chester
Al Destoor - Win
Betfair Bet ID 1:137485335769 | Placed: 15-Sep-18 17:05:22 Lay 5.00 10.00 40.00
10.00
Won


15-Sep-18
14:27:33 14:20 Listowel
Eglantine Du Seuil - Win
Betfair Bet ID 1:137440037865 | Placed: 15-Sep-18 14:18:35 Back 3.80 20.00 --
-20.00
Lost
15-Sep-18
14:27:33 14:20 Listowel
Eglantine Du Seuil - Win
Betfair Bet ID 1:137440856889 | Placed: 15-Sep-18 14:22:18 Lay 2.70 20.00 34.00
20.00
Won
You are not greening, your back and lay stakes are for the same values (if you had greened up these would be different denoting your P/L for that market) so your only creating a risk-free bet and profit if that runner wins

If using the make market button ensure the 'green' box above the trade column is ticked then click one of the figures when you're ready to green up for that predicted profit or loss

See this page of the user guide for full details
https://www.betangel.com/user-guide/one ... 3D&mw=MzIw#
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