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Horse Betting On Betfair

What makes Betfair stand out?

It’s different and it lets punters be bookmakers, playing other members of the Betfair for profit.

Professionals actually make a pretty good living using Betfair and it’s well documented how some professionals make money using the facility. The first requirement is a market with enough liquidity to provide good movement in the underlying odds. This movement in odds provides something to trade.

The horse betting market is big enough to allow professionals to dip in an out of the market making consistent returns time after time. You may have read about horses that are “steaming” or “drifting”. It is the steamers and drifters that create an opportunity for trading horse racing odds.

A steamer is a horse who’s odds shorten by a significant amount. A drifter is a horse who’s odds lengthen by a significant amount. The significance of the movement is that it must be large enough to cover the spread between back and lay odds, Betfair’s commission, and to allow a nice profit.

The skill with horse betting on Betfair is to know how to find these horses, where to look, and when to look. So how do we find these in advance? A good question and one that is beyond the scope of this article. But, there are some nuggets of information that will help.

Where to look.

Immediate pre race markets produce a lot of activity and there is a lot of money entering the market. For the best returns a trader needs to look for steamers were as drifters have fewer people backing them because their chances of winning are decreasing.

There are various techniques that can be used to spot these types of price movement in advance and there is plenty of opportunity to practice, Betfair covers UK horse racing for 363 days of the year with an average of three to four meetings a day.

As with any type of trading it is important to record every trade so that you can analyse and learn from each trade. You will be able to spot the same price patterns time and time again and this is known as a self fulfilling prophecy, well known in financial markets. This repetition of price movement provides consistent opportunity for small profits.

There are various types of horse race trading on Betfair, including ladder trading, swing trading, momentum trading, and scalping.

Don’t beat the bookie, be the bookie. The secret of trading on Betfair is out there and it needs expert tutorage and good information to get it right.