I know a bit how to trading on betting-exchange sites like BetFair but I found less articles about it or if there are you must pay for see the full instructions. Anyone are currently trading on this site? If yes can explain to us the techniques to trade?
For those who do not know what are the betting exchange site, here you can bet on the winnings "back" and on the losses "lay" . So the money here are made only by the users. You do not have to bet against a traditional bookmakers but against other player .
Everything is automatically calculated by the software...
At this moment I only trading on football match. It's great!
Example: I'm laying 20$ for draw on a price of 3.5 at the start of a live event. (Risking 70$ if will be a draw Or I will receive 20$ if there's no draw.)
One of the team after 20 minutes marks the first goal. The price for Backing on draw are increased to 4.0 so If 2backing" 19$ on 4.0 I'll win 76.
At the end if there is a draw : 76-70 = 6$
If there is not a draw : 20-19= 1$ (on bet fair there is a 5% commission for backing so you earn 0 in this case but you have lose nothing and this is the important).
On this example you can earn only a bit but there's other methods ...
Many people prefer to trading on Horse Racing but I still don't understand how to trade here cause the highs odds for laying.
thanks for the help..