Trading on HorseracingTrading refers to betting on an event in such a way that you are guaranteed a profit before the event has started (unless you are betting in running). Trading has become popular thanks to the rise of Betfair
Looking at the morning prices, you think Horse A is overpriced so you back it at 8/1 with Betfair
You check back 1 hour before the race and it has been backed into 5/1. you now have 4 options: 1. You can let the bet ride to potentially win £800 (and risk losing £100). 2. You can sign into Betfair
3.You can lay the horse to lose £160. 4. You can lay the horse to lose £150. _________________________________________________________________
Option 1 has the highest risk (£100 loss) and the highest potential reward (£800 profit). Option 2 means that you can potentially win £300 if the horse wins (£800 profit from the original bet less £500 loss from your lay bet) but you could potentially end up with nothing if it loses. Option 3 means that you make £60 profit if the horse loses but end up even if the horse wins. Option 4 would leave you with a £50 profit no matter whether the horse won or lost. If the horse won, you would win £800 from your original bet but lose £750 (£150x5) on your lay bet. If the horse lost, you would lose your original £100 stake but win £150 from your lay bet. Many people use methods 2, 3 and 4 above to make a good living from Racing. They can bet using large amounts of money because they know that the full amount is never going to be at risk. **the examples above all ignore commission** There are plenty of trading calculators on the net, we use this one Betfair trading calculator.
The calculator above helps you calculate how much you would need to lay if you had bet and were following option 4 (it allows you to factor in commission). _________________________________________________________________
Examples of the main pitfalls to avoid when trading.
You back a horse expecting it to be well backed (steam) and it drifts out instead (and vice versa) This scenario will happen to you and the trick is to accept it, lay the bet off and accept a small loss and then move onto your next trade. One of the main reasons that people lose money when trading is that they are not careful enough when choosing horses to bet. If you use some of the strategies below. You should be able to make this work for you.
You back a horse at 5-1 and then it gets backed like defeat is out of the equation In this scenario it is very tempting to let the bet run and not trade it off. Our advice is to always trade your bets off because the moment you dont, sods law dictates that the horse will not win and you will lose all your betting bank.
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Ways to spot horses expected to steam or drift in the betting 1. Look at the steamers, drifters and top movers at oddschecker.com. If you look at 9.30 a.m and one horse is attracting plenty of support, it may have been tipped by a tipping line etc. Such horses tend to attract further support and can be backed with the intention of laying off later.
2. Watch for quick going changes. If there is a quick downpour, the going may change quite quickly. This may mean that the going has turned against certain horses and they will drift out accordingly.
3. look at the market information on Betfair
If you look at a particular race and click on a horses name, this will show a graphical representation of a horses odds and enables you to spot trends in a horses price and bet accordingly.
4. Look at the number of tips that the horse has received. This info can be found for free on the racing post website. A horse which has been tipped by the vast majority of tipsters is likely to be well backed because plenty of bettors religiously follow tipsters. _________________________________________________________________
Trading methods
Here are a couple of quick methods that are designed to get you thinking on how to spot horses that are potentially tradeable.
The Pricewise horse system
Pricewise's tips always have the bookmakers running scared because they are inevitably well backed by his army of followers. If you are prepared to get up early to find which horses he has tipped
, you can then check the price on Betfair
If the Betfair
You will then be in a position to lay the bet back and lock in a profit. This can be done with paid tipsters too. If you go down this route, we reccomend Surewin racing club. It relays the tips of 27 of the top tipsters for the price you would pay if you signed up directly with one tipster. _________________________________________________________________
Further reading The info above is only an introduction and gives a quick overview of how to trade. There are many other resources out there and we can reccomend the following. This site has demo videos showing trading in action. It also tells you the story of Andy (Todd) the sites owner and how he turned £200 into £40,000 within a year.
It gives more tips and info on the pitfalls you face when trading.
We bought this E-book which actually has two methods in it. The first method is a trading method which requires a betfair account only. The method teaches you how to use the market information on betfair to predict those horses likely to 'steam' and those likely to drift in the betting. The second method is a laying system. This does not involve any trading because the method is such that it already produces a good profit coupled with a high strike rate. We found it a good read and the methods are very logical and simple to understand. We will be posting a full review of the methods at some point in the future. To view what the author has to say, click here. Other sites & products Software to help you guarantee a profit from your bets. Easy trader pro System for use on horseracing and football. Click here to read the benefits.
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