Monetizing your Knowledge
Betting exchanges offer a wide range of ways to monetize your knowledge and instincts.
So how exactly can you make money on Betfair, or make money on the exchanges?
Let’s take a brief look at some ideas and strategies that can help you to make a profit betting on Betfair’s exchanges.
You are able to lay a bet, and back the opposite result which, provided you calibrate it correctly, will ensure that your stake is safe, and provide you with the chance to make a profit. A host of software options are available to assist you in your journey to profitable betting on the exchange. You will find a wealth of video lessons, tutorials, and written literature online which are all designed to assist you in learning the best approach to adopt and the tools to utilize.
Among these, you will meet the concept of scalping. This involves trades on modest price movements as news filters through which could affect the prices.
For example: an announcement that a horse is a non-runner for an upcoming race will change the prices offered as the odds shift for the other runners in the scheduled race.
So what do you do to make money on Betfair using scalping?
The idea is that you place an amount on one outcome, so you might back a horse at 5.5, for example, and then lay the same horse at 5.3. This gives you a two-point profit.
Given the simple rule-based approach (back at one price, lay at a lesser price) you can utilise software to follow the rules, make your trades and give you a profit proportionate to your investment.
It is an idea to consider the liquidity, that is the size and activity, of the market. Interest in a UK horse race will really start to take off some twenty minutes prior to the start of the race, for example. This means that a race that is imminent will start to experience a greater volume of activity.
During this period you can see the emerging trends, and combining this with your knowledge of the event, try to find an angle to exploit for profit.
Betting Tip! Practice first with small amounts to get the hang of the system that you are trying out. Keep a close eye on your trades, and a cool head.
Another option to try is swing trading
In this strategy, you are seeking larger moves to prices. You will often see these in a football match as one team scores the odds will dramatically shift. If you have anticipated this swing in the price then you will be in a position to profit from it.
For example: backing at 10, then laying at 8, or lay at 8 and back at 10. There is software for this system too. It is advisable to include a stop-loss feature in your list of criteria for such software. The idea of stop-loss is to prevent becoming overcommitted and to minimize losses.
With this system you might seek out teams that are undervalued and back them prior to kickoff, in a football match, then wait for the prices to shift as your chosen team starts to perform as you expected.
Betfair eSports
The future seems truly to have arrived with e-sports. Gamers who have grown up not knowing a world without computers, and computer gaming, who have built rigs to fuel their immersion in computer and console gaming.
Clans arose, top gamers won huge followings on YouTube, and sites like Twitch. It was surely inevitable that betting would become a feature of this new phenomenon.
Betfair provides you with one of the first, and certainly best supported, options to bet on, for example, League of Legends, or DOTA 2, competitions adding yet another level of thrills to this new form of entertainment.
Casino and Specials
And beyond sports or exchange betting? Can you bet on the outcome of elections? Is there a casino?
Here is everything that Betfair offers and you can bet on:
- the result of political events around the world
- the outcome of reality TV contests
- live dealer casino
- a wide range of slots
- scratchard games
- a multitude of roulette variations
- card games
- craps
- video poker
- football jackpots
- bingo
- virtual sports
Additional to all of the above, you can access Tradefair from your main Betfair account, allowing you to trade on the prices of stocks and shares, including live trading on price differentials as markets worldwide are open.
Special Features | What Else Makes Betfair Stand Out?
With more than one million users, and a community feel, the best odds guaranteed on a variety of premium sports and events, and the chance to make serious money, Betfair really stands head and shoulders above traditional bookmakers and other competitors.
Their live streaming service is exceptional, the live scores and updates featured on the mobile app are rapidly updated offering you a better chance to adjust your strategies and tactical decisions on the fly. Betfair also offers access to Betfair labs – a testing ground for new features. Their odds are widely considered to be among the best to be found online, and others look to them to gauge the strength of the market.
In-play betting is a standout feature, the reactivity of the site and excitement to be had during a critical match is often unparalleled as you correctly predict the outcome of an event and watch your profits rocket.
As well as mobile-based web access, Betfair offers an app with even more functionality for those on the move. Within the site itself, you can find a range of apps offered to assist you, these include betting assistants, analytical tools and free trials for paid apps – all intended to help you gain an edge over your fellow bettors.
Cashout is another feature you will grow to love. Three minutes from full time, your team is winning, your bet will pay a handsome profit, but…what if the other team draw level, what if your top player gets sent off…what if…No more what-ifs, you can cash out and Betfair will display precisely how much you will collect.
Given that the site is not betting against you as a bookmaker would, they are free to employ tipsters at no charge to you aiming to bring you the latest and best information to help you carve a profitable path through the events that you love.
Updated: 2024
