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If you have never used Betfair before then this video will point you in the right direction. The video has been made by a Betfair professional and all the ins and outs are explained in simple terms that even a novice can quickly understand enabling them to start trading straight away with confidence.
Learn how Betfair works in a few easy steps.
This tutorial will allow you to set up your Betfair account the right way.
Once your dashboard has been set up you will have all the information at hand each time you place a win or a lay bet and you will quickly be able to see what your profit and loss situation will be when either betting or laying.
Learn how to adjust your odds to what your willing to lay a selection or what odds you want if you are backing in the event.
Learn the basics of trading on Betfair and how you can make money before the race or event has even begun. Yes that's correct a guaranteed win no matter the result.
Learn To Trade The Correct Way
Trading on Betfair should not be confused with gambling on Betfair. Trading when done correctly is not gambling as such, with information and stats at hand and a sound knowledge of how Betfair markets work trading on Betfair can be done on most events without even having to see the result.
If you are scalping or laying the field as an example when done correctly you will be in a profitable position before the event has even begun and you can move onto the next event knowing it doesn't matter to you who wins you a guaranteed a win.
Obviously there is a slight element of gambling in any trade as your selection may swing the wrong way be it if you have backed or layed but if you stick to your rules set in place you may lose on that specific market but that's trading you move onto the next market and apply the same strategy again and again and if your strategy is one with merit you will come out on top in the end.
Rules are very important when trading, I myself have my rules on the wall as a reminder of what is best practice and what makes a good trader. These rules you will learn usually by your mistakes but like anything so long as you learn by your mistakes and do not repeat them you will be the better for it.
One of the easiest and least labour intensive ways of making money through trading on Betfair is finding a few front runners throughout the days horse racing cards and backing them before the race begins. If you have done your homework correctly and they get to the front early watch the in-running price quickly drop enabling you to lay back your stake putting you in either a no lose position or a guaranteed winning position.
There are a few ways to do this, if you are a novice it may well be worth getting some software that opens many doors on Betfair when trading.
I myself use Bet Angel which is I feel the best out there and has been established for many a year now and is proven.
How To Find The Front Runner
Before trading you will obviously have to find your horses you think will lead the field. One of the easiest ways of doing this is taking advantage of the free speed maps available on the days racing. Speed maps give you information on how a horse usually races each time it runs, is it a front runner, middle of the pack horse or a come from behind type.
I usually cross check two free speed maps one being from Punters and the other from Racing and Sports. Now with having two maps to crosscheck you will find that there will be many races where predicted leaders will be different. What you are looking for is the few times that both the speed maps indicate very strongly that there will be a clear front runner.
There are a few rules that I myself follow and I will only place a front runner bet if selections meet all the criteria set out. A few basic rules are below:
1. Maiden and novice races are out, make sure the races you concentrate on are for horses that are seasoned. There are to many variables for races that the runners have had limited starts.
2. Watch the odds, you do not want to be picking a rank outsider or an odds on favourite as the odds will not change to much in-running early. Keep the odds between $4.0 and $20.0
3. The barrier draw, very important for this type of bet. Make sure your charge is drawn well.
4. Race distance, the shorter the better stay away from long distance races. I like to look no further than races of 1600m - 1800m.
Get some software and learn the basics and then give it a go. If you study hard you will be onto a winner.
Once you have found your feet on Betfair it's time to start making some serious money before the race has even begun, this is called scalping. Scalping is all about trends in the market and to help you with this there are many different software platforms available with many types of statistical data at your fingertips.
A simple scalp as shown in the video consists of putting a back or lay bet in the marketplace and then coming back into the same marketplace and reversing your original trade for a gain.
An example would be as outlined below:
Lay a selection for a $100 stake at 4.0, when your bet has been matched then you place another trade and back the same selection as your lay bet but at greater odds.
You would place a back bet of $100 with odds at 4.1 or above. If that bet is matched you would have put two bets in the market on the same horse.
If that horse wins you would be liable to pay out $300 but you would receive $310 from your bet that you put back in the market.
You can do this as many time as you wish on any selection in the same market, sometimes your selection may move the wrong way in the market than you wanted so you may have to take a small loss but if you read the market correctly you can cancel out your original bet before it gets to the point that you are making a loss by coming back into the market on the opposing side and making a neutral bet at the same odds.
When scalping your software is vital as there is no guarantee that your chosen selection is going to win so with the help of the software we GREEN UP. This means that we spread the potential profit of the one runner we have across the rest of the field for a guaranteed win no matter the result.
Alternately if you have had a really bad trade on a market you can spread your loss over the field and turn a larger loss into a much smaller one.
With the software you have chosen you can GREEN UP with one one simple trade. The software will do the rest for you.
Take a look at our featured video on how to GREEN UP.
Through software specifically designed for use on Betfair you can trade like a professional in no time. My preferred software is Bet Angel and with a little time you can be trading like an old hat and coming out with profit on markets time after time.
If you are really good at reading the markets and absorbing all the information at hand in time you can even turn your trading into a full time job.
One of the perks of using software like Bet Angel is the ability to place multiple bets into markets with just one click.
One of the main features is the ability to GREEN UP in any market guaranteeing you a win whatever the result. This video tutorial will show you the power of Betfair software and how easy it is to trade out of any market with one click and come out in front.
If you have had a few bad trades on any market it will also enable you to cut your loses across the field for a smaller loss.
When scalping any market the GREEN UP option will in real time give you your position in the marketplace and with one click as shown in the video will allow you to exit with a profit no matter the outcome of the event.