Archive | Betting exchange

During 2015 we have made various tips and predictions on our Facebook page. For fun. We performed quite well. For the tips we made you can visit the our Facebook timeline and scroll or search through to get the details. You may think that’s great but how can we profit from these sorts of opinions? Betfair is a great tool to allow normal punters to play bookmaker. This post will explain some techniques for setting up a simple sports book without needing hundreds of thousands of pounds (or currency equivalent).

Barclays Premiership football has seen some big changes in the 2015/16 season including Manchester United and Chelsea not living up to the their fans expectations. A big shock for Chelsea was that Jose Mourinho ended his job at the club but the bigger shock has been their bad performances.

Earlier in the season we predicted that Leicester City was a team to watch. Our tips included both teams to score and win tips. Other things we predicted for the season was that Chelsea was priced as the favourite to win the Premier League at the start of the season. In our opinion the odds did not reflect their true chance of success especially considering the pedigree of Manchester City and an Arsenal who looked like they where turning a corner.

Making a sports book is basically setting out your opinion about which teams are priced at the correct odds and more importantly which teams are not. For instance we predicted Chelsea’s odds would increase and that Arsenal’s odds would Shorten. Who would have known that Leicester City’s odds would shorten so much. Considering Leicester’s form and gaining Claudio Ranieri as manger was a good indication that things where going to change for the club.

Real bookmakers provide odds on many different markets and sports. As a novice booked we just need to pick one market, for instance, the Barclays Premier League outright winner antepost market on Betfair. Next we choose which teams look like they’re due a change of opinion compared to the odds given by the bookmakers at the start of the season. Bookmakers employ intelligent people called odds compilers to maker their sports book and predict the probability of each team winning the league. They then add in their profit margins. There are so many factors that effect the rise and fall in the fortunes of Premier League teams that the odds of each team will eventually move during the season either as they become more likely or less likely to win. Certain things can really shake things up, for instance, Chelsea loosing it’s manager or Leicester city gaining an experienced manager. Alternatively it could be a key player being injured or a key signing. Either way these events cause a shift in the odds of the other contenders for the top spot.

Odds compilers are clever but they can not see the future, which allows punters on Betfair to have a bit of fun and potentially do nicely at making a bit of extra cash for themselves.

How to set up a small sports book

A good question. As editor I have been asked numerous times. Using my experience I would like to give our best answer to how to build a betting bank for trading on Betfair.

Let’s Compare Bets has been researching systems and Betfair trading strategies since 2006, so I believe we are qualified to give what is currently the best solution to this problem.

Many successful Betfair strategies use a large betting bank to make regular profits from small movements in exchange odds. You like us may not have the resources to do this. Read on to see how to do it on a shoestring budget.

A big consideration for how to build a betting bank was to make it low risk. Also a big requirement is that Betfair is essential to the process: to give newbies experience of using the exchange.

Newbies are recommended to sign up to our newsletter to get a free copy of the Betfair For Profit guide, which explains the process and gives links to sections of this site that explain trading strategies.

Furthermore, the method I describe needs to be quick and relatively easy. Betfair’s betting exchange has the unique feature that members can bet on someone, a team, or horse to lose (lay betting).
Build a bank for trading