Betfair Challenge Continues
The Betfair Challenge is underway and it was a decent start with me profiting by £28.21 on the challenge Betfair account which represents an increase of 9.4% with £10.49 arriving from trading the horses and £17.72 from football trading. I tried a few Betfair Profit Maker trades and narrowly missed out on one big winner which would have made a big profit, but the market suspended as my trade was queued at 0.01 away from the recommended entry point. So it was a little frustrating but it’s a cracking strategy, which is definitely worth the small investment.
Most of the football profits came from the Tottenham v Man United game yesterday as the odds for the draw were tumbled, I entered the market by laying the draw at 3.05 before exiting at 4.60 as United took control of the game. Not the best result for me on a personal level, but gaining profit from the match was at least some reward and I made over £200 from the game on my regular Betfair trading account.
This weekend also saw some good profits from big club comebacks. First up were Barcelona and I managed to lay the draw at 1.97 before following up with laying Barcelona at 1.06 9 minutes later after the took the lead. Inter Milan got off to a horrendous start against Catania and took the opportunity of backing the draw at 3.95 before Inter Milan rallied and I exited by laying the draw at 1.66.
What these trades highlight is that it’s not what you do, it’s the way that you do it. I have traded the draw market in three totally different ways. First up, the traditional Lay & back, secondly was the Lay draw & Lay Favourite and lastly it was back the draw & lay the draw. So try not to get in a rut of just laying and backing the same combinations all of the time, you have to look at the markets and decide which combinations will give you the biggest profits.
There’s nothing really that catches my intention in the markets tonight, but I’m going to experiment with a new strategy I’ve been working on and see if it can bear any fruit. I’ve not written up too much of my strategies over the past couple of days, but I think I’ll get started again tomorrow.
In the meantime, please consider signing up for my free newsletter which explains 5 mistakes that betfair traders make, which you will hopefully find useful, by entering your email in the form on the right
Good luck to all trading today
Steve
Hi steve,
When laying the draw do you tend to trade aggressively and stay in for maximum profits or do you generally play safe and green up most of the time?
Regards
Hi Dave
It all depends on a number of factors. Obviously I trade numerous different leagues and whilst my knowledge of how French, Spanish, Italian sides etc are getting on in their respective leagues is probably a bit higher than your average armchair supporter, my knowhow is nothing compared to my working knowledge of the English Premiership.
So I generally feel more comfortable being aggressive in the Premier League than other leagues.
I would also say that you should be true to your personality. If you are not an overtly risk taking person who embraces the risk, then don’t do it. That is something I learnt as I developed as a poker player.
There are many poker players with different characteristics who are all equally successful, so there is no right or wrong, it is not an exact science.
Poker can be compared to Betfair in many ways, some players/traders are aggressive by nature, others are more passive, but that doesn’t preclude one or the other from being profitable.
My quick answer, is Yes, I am aggressive, but not every time – I choose my spots wisely
Sorry for the ramble, hope it helps
Steve
Hello Steven!
As I know I am not a big profiter guy ,but I have got an idea for this weekend:
I would like to compete with you in paper form just for this weekend.
Would you accept it?
Regards,
Nider
Hi Nider
Thanks for the offer, but no thanks
Hope you have a great weekend betting/trading, I’ve too much to do with the blog updates and system writing up this weekend, so I don’t need any distractions at the moment, maybe in the future though if there’s a clamour for it
Cheers
Steve
I don’t like being aggressive even in the Premier League because I find it difficult to read the game in play. Especially when games don’t go as expected, e.g. like with the Man City v Sunderland, and QPR v Arsenal. I prefer to get out for a profit as fast as possible. BTW nice blog Steve. I would be cool if you’d swap links with my blog, we write about similar things.
It’s horses for courses really and if you find it difficult in the Premiership, then you’re right to proceed with more caution. It’s all about being aggresive in the right situations and that is usually when you’re comfortable with it.
I’ve added a link to your blog, can you please add one on yours to mine plese
Cheers
Steve