Does this sound like something you would do in your spare time? Trading on sports seems like something that should be able to bring you lots of money but it doesn’t really work that way. Its not really all that easy to predict which horse will win a race, even if you have a fairly good idea where the favourites are going to go.
But a far more sensible approach to trading is to focus on the the bigger picture, on the matches and the tournaments. When you profit from a trade you are doing something that the bookmakers would never have dreamed of in the same circumstances and you are engaging in pure entertainment.
You can see why so many people try to go the financial route when you think about all of the forms of trading that you can do. You can get a tax free income sent to you every month from the betting exchanges and you can benefit from cutting out all the hassle of going to the bookmakers and dealing with them.
But also when you are doing the kinds of things that are normally involved with betting you are engaging in something that is potentially much more rewarding.
Pick me up the arse and I will show you the secret of trading in the bookmakers favour.
“Imagine, just imagine what you will do with all that money, you’ll be able to do the same things that the bookies want you to do”
When they make a mistake they won’t be able to fix it up as it won’t be on the same page as you and as a result you will make more money.
“But the real beauty of it is that you can trade on whatever you like”
If a bookmaker has made a mistake in pricing a race horse wrong, he will have to rethink his pricing model and re- Cassidy and re- Betfair, he will be unable to compete with the market in the way that he used to do. The beauty of a betting exchange is that the market is always open to new pricing options.
Where a bookmaker will be stuck with the same price for the same race horse, you can say that you have a better price. In the same way a bookmaker has to accept that the prices on all his prices are incorrect, yours will also be incorrect if you use the betting exchanges.
“But the real beauty of it is that you can trade on whatever you like.”
So you see that the real secret to trading is to do something that the bookmakers would never do. The way you make money on the betting exchanges is to trade in such a way that the people betting against you don’t really know what you are doing.
When they don’t know what you are doing you can take their money from them. When you know what you are doing you have a better chance of winning money on the exchanges than you would elsewhere.
“But the real beauty of it is that you can trade on whatever you like.”
So if you want to you could argue that the bookmakers are pretty good at what they do whereas you, the regular Joe, although you do have a chance of winning some of your bets, you have a much better than average chance of losing them.
