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Trading sports online sports gambling can be an extremely profitable pastime and as a growing number of people get involved that implies just one thing… liquidity. With the invention of the betting exchange and also the rise and rise of the main one, Betfair, there is increasingly more income being traded on sports events.
From horse racing to tennis and football to greyhound racing there are plenty of markets to choose from and focus on. You’ll find even markets for financials and politics.
In-play betting and the ability to place “lay” bets have revolutionized our capability to make the most of these markets (for those not in the know a lay bet is betting that an event will not occur ie a horse will not win a race). Just watch any in-play tennis match and see how the odds move. Making feeling of these patterns and developing successful strategies to make regular profit will be the holy grail for a lot of men and women.
The basic theory behind all this is that you may need to back at an increased price than you lay. It is the same as business all over the world, you buy a product at one price and also you sell it at another, the main difference between the two being your net profit.
An example is I back a horse at 2/1 for Ł100. That is 3.00 in decimal odds. If it wins I win Ł200 and acquire my stake back. Before the start of the race the odds come down to 6/4 or 2.50. I then lay it for Ł100 and if the horse wins I have to pay out Ł150. The difference between my back winnings and my lay liability is Ł50. Which is what I would win if this horse wins and if it does not, I lose nothing! A zero cost bet. The really neat trick is to “hedge” your winnings out so you win the exact same amount regardless of what horse wins. In the above example I could lay the horse for Ł120 guaranteeing me a Ł20 profit.
The most obvious problem is what happens in the event the odds rise? You are left with a bet you cannot sell or get rid of without losing at least some of your stake. This is where the difference between traders and gamblers comes in. A gambler takes risks in order to possibly achieve a profit. A trader is pleased to take a series of small losses safe within the knowledge that the wins will outweigh the losses.
There are various and varied approaches to trading however the most important thing is discipline. As soon when you fail to close a trade that has gone against you you are no longer trading but gambling. Sure, you could get away with it but when it goes wrong you will definitely lose a lot more than you bargained for. The best way to focus your brain and stop the gambling tendency arising is to work to strict strategies with defined entry and exit points.
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