1. Introduction to Betting Exchanges
In this video, we introduce you to the betting exchanges, explain how to get your account opened, and how to navigate around your account before placing any trades. We also cover a lot of the terminology you will hear frequently throughout the sports trading world.
2. Bookmakers v Exchange
Here we show you the key differences between the bookmakers and the betting exchange, and explain why you should always use the betting exchange, even if you are just a "punter". In effect, the exchange is bringing two people together with differing opinions, putting them against each other and then the exchange takes a commission from whoever wins the bet.
Following on from trading, if you have been successful in placing your trades at the correct time, you will be in a profit situation on your selection. You can then spread this profit across all outcomes. On the opposite side of the coin, if you were unsuccessful at placing your trades correctly, you would be in a losing position which you could then spread across all outcomes to reduce the overall loss.
7. Pre-Event Trading
This type of trading involves placing your trades before the event starts. Generally these types of markets have higher liquidity (amount of money waiting to be matched) and the odds tend to move slowly (less volatile). Obviously, there are exceptions to this e.g. steaming and drifting. Steaming is when the horse gets backed heavily causing the odds to shorten, drifting is when the horse is layed heavily, pushing the odds up.
11. Auxiliary Exchange Accounts
There's always an element of risk involved in trading. It's always best to prepare for unexpected events, such as power shortages, or worst case scenario, the exchange API crashing. We always recommend having a contingency plan in-place. Smarkets and Betdaq are the other exchange accounts we recommend having open.
14. Dobbing (Double or Bust)
Considered by many to be the "dark art" of trading. This strategy involves carefully selecting a horse which you think will lead the race, then backing it just before the off, in the hope that its' odds will reduce to half the price you backed at, then lay it for double your original stake. This is a real skill in trading.