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Trading sports online may be an extremely profitable pastime and as increasingly more people get involved that suggests just one thing... liquidity. With the invention of the betting exchange as well as the rise and rise of the main one, Betfair, there is increasingly more money being traded on sports.
From horse racing to tennis and excellent football online to greyhound racing there are numerous markets available and focus on. You'll find even markets for financials and politics.
In-play betting as well as the capability to place "lay" bets have revolutionized our ability to make the most of these markets (for anyone 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 find out how the odds move. Making sense of these patterns and developing successful strategies to make regular profit is the holy grail for lots of individuals.
The fundamental theory behind all this is that you will need to back at a higher price than you lay. It really is the exact same as business all over the world, you buy a product at one price and also you sell it at another, the 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 in the event the horse wins I have to pay out Ł150. The real difference between my back winnings and my lay liability is Ł50. That is what I would win if this horse wins and if it will not, I lose nothing! A cost-free bet. The really neat trick is to "hedge" your winnings out so you win the same amount regardless of which 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 should the odds rise? You are left with a bet you can not sell or get rid of without losing at least some of your stake. This is where the main difference between traders and gamblers comes in. A gambler takes risks to be able to possibly achieve a profit. A trader is happy to take a series of small losses safe within the knowledge that the wins will outweigh the losses.
There are many and varied approaches to trading but the most significant thing is discipline. As soon as 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 certainly lose a lot more than you bargained for. The top way to focus your mind and prevent the gambling tendency arising is to work to strict strategies with defined entry and exit points.
From horse racing to tennis and excellent football online to greyhound racing there are numerous markets available and focus on. You'll find even markets for financials and politics.
In-play betting as well as the capability to place "lay" bets have revolutionized our ability to make the most of these markets (for anyone 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 find out how the odds move. Making sense of these patterns and developing successful strategies to make regular profit is the holy grail for lots of individuals.
The fundamental theory behind all this is that you will need to back at a higher price than you lay. It really is the exact same as business all over the world, you buy a product at one price and also you sell it at another, the 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 in the event the horse wins I have to pay out Ł150. The real difference between my back winnings and my lay liability is Ł50. That is what I would win if this horse wins and if it will not, I lose nothing! A cost-free bet. The really neat trick is to "hedge" your winnings out so you win the same amount regardless of which 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 should the odds rise? You are left with a bet you can not sell or get rid of without losing at least some of your stake. This is where the main difference between traders and gamblers comes in. A gambler takes risks to be able to possibly achieve a profit. A trader is happy to take a series of small losses safe within the knowledge that the wins will outweigh the losses.
There are many and varied approaches to trading but the most significant thing is discipline. As soon as 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 certainly lose a lot more than you bargained for. The top way to focus your mind and prevent the gambling tendency arising is to work to strict strategies with defined entry and exit points.
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