Horse Racing Trading Video
Video 2: 15th March 13 min 30 sec + £19
0:03 I submit Back 500 @ 2.92 while the price is 2.90/2.92. It remains as an unmatched bet for 5 seconds before being matched and my position displays above the other 2 ladders as Backed 500.
0:08 As soon as my Back 500 @ 2.92 is matched I decide that I don’t want it and submit Lay 500 @ 2.92 to try and Scratch while the price is 2.92/2.94.
0:21 My Lay 500 @ 2.92 is still unmatched when the price moves up to 2.94/2.96 so I immediately submit Lay 500 @ 2.94 and cancel Lay 500 @ 2.92. It remains an as unmatched bet for 6 seconds until it is matched, giving me a 1 tick loss, having Backed 500 @ 2.92 and then Layed 500 @ 2.94. The amounts above the other 2 ladders show my flat position and the amount above this ladder displays my 10 loss on this horse if it wins.
1:26 I submit Lay 500 @ 2.96 while the price is 2.96/2.98 which remains as an unmatched bet.
Profit
1:38 My Lay 500 @ 2.96 is matched and my position displays above the other 2 ladders as Layed 500. I immediately submit Back 500 @ 2.98 which goes in as an unmatched bet before being matched at 1:46. My position above the other 2 ladders updates to show I’m flat and the amount above this ladder shows that I have no loss on this horse anymore.
1:58 I think that the price will continue to rise and see that there is very little money waiting to Back at 3.15 so I submit Back 500 @ 3.15 while the price is still 3.00/3.05 in order to get a good position in the 3.15 queue, which remains as an unmatched bet.
2:36 My Back 500 @ 3.15 unmatched bet is matched which is shown by the number 500 disappearing from the unmatched bets column and I immediately submit Lay 500 @ 3.10 which is matched instantly and my position above the other 2 ladders goes back to zero. My profit shown above this ladder now stands at 25 if this horse wins. This is because if this horse won my Back 500 @ 3.15 would payout 1575 to me but my Lay 500 @ 3.10 would only cost me a 1550 payout, leaving me with 25 pounds leftover as my profit. If the horse loses I will make/lose nothing.
3:11 I try to submit Lay 500 @ 3.10 but I do not have enough money in my Betfair account to cover that much and I get the Account Exceeded Exposure Limit or Available to Bet Balance pop up message instead. To cover that liability would need 500 x (3.10 – 1) = 1100 and I am using a trading bank of only 1000 so using stakes of 500 I cannot Lay above the price 3.00. I change my stake size to 400 which means that I can now Lay up to the price of 1000/400 = 2.50 + 1 = 3.50.
Scratch
4:00 The price jumps up to 3.35/3.40 and I submit Back 400 @ 3.35. I don’t get the 3.35 bid and my 400 goes in as the first offer making the price 3.30/3.35, which then gets matched straight away. As soon as I am matched the price goes up to 3.35/3.40 and I submit Lay 400 @ 3.35 to try and scratch. The price continues to rise but then drops again and my Lay 400 @ 3.35 is matched at 4:12.
4:28 I submit Lay 400 @ 3.30 while the price is 3.35/3.40 which remains as an unmatched bet.
5:05 The price drops to 3.30/3.35 with a large amount at 3.35 so I cancel my Lay 400 @ 3.30 just in time as the price continues to drop down to 3.20/3.25
5:32 I submit Lay 400 @ 3.20 while the price is 3.20/3.25 which remains as an unmatched bet until 5:49 when it starts to get matched in bits.
5:51 I submit Back 400 @ 3.25 while my Lay 400 @ 3.20 is still getting matched. My Lay 400 @ 3.20 is matched in full and then my Back 400 @ 3.25 starts to get matched at 5:56 and is fully matched a few seconds later, giving me a 1 tick profit. My profit above this ladder now shows as 45.
7:09 I submit Back 400 @ 3.25 while the price is 3.20/3.25 and then I cancel it almost immediately before it is matched.
7:53 I submit Back 400 @ 3.45 while the price is 3.30/3.35 which remains as an unmatched bet.
8:57 I submit Lay 400 @ 3.40 as the price moves up to 3.40/3.45 with the expectation that my Back 400 @ 3.45 will get matched quickly because it is near the front of the queue at 3.45. I now have 2 unmatched bets trying to Lay 400 @ 3.40 and trying to Back 400 @ 3.45.
9:06 My Back 400 @ 3.45 starts to get matched and is then matched in full when the price moves up to 3.45/3.50.
9:12 I submit Lay 400 @ 3.45 while the price is 3.45/3.50 to try and scratch. It gets matched and then the price drops to 3.40/3.45 and my Lay 400 @ 3.40 also gets matched which means that I have now Layed 400 as shown above the other 2 ladders. If I hadn’t have scratched by submitting Lay 400 @ 3.45 I would now be flat with another 1 tick profit but as it stands I’ve made no profit and now hold a position I don’t want. I submit Back 400 @ 3.40 while the price is 3.40/3.45 to scratch this unwanted position which gets matched instantly. The end result of all this activity is 2 scratch trades and my profit shown above this ladder is still 45.
10:17 I submit Lay 400 @ 3.35 while the price is 3.35/3.40 which remains as an unmatched bet.
10:39 My Lay 400 @ 3.35 gets matched while the price is still 3.35/3.40 with over 18K propping up the price on the 3.35 and I immediately submit Back 400 @ 3.40 which remains as an unmatched bet until it starts to get matched at 11:02 and is fully matched by 11:07. My profit above the ladder now shows as 65 if this horse wins.
12:26 I submit Lay 400 @ 3.35 while the price is 3.35/3.40 which remains as an unmatched bet.
12:34 I cancel my Lay 400 @ 3.35 because the race is now due to start.
12:39 I click on the Hedge button to convert my potential 65 profit if this horse wins into a guaranteed profit no matter which horse wins the race. The hedge button does this by dividing your profit at the top of this ladder by the available to Lay odds that are currently trading, and then Laying the result of that calculation on this horse. In this case it divides 65 by 3.4, which is 19.12, and Lays 19.12 @ 3.4. Now if this horse wins I will make 65 pounds but will have to payout 19.12 x 2.4 = 45.89, so I will be left with 65 – 45.89 = 19.11 profit. If the horse loses I won’t make the 65 pounds but will instead keep the 19.12 Lay bet, leaving me with a profit of 19.12. Heads I win, Tails I win.
Trading Results
Adam made over £100,000 profit on Betfair from a starting bank of £200.
Check out his complete trading results below:
Daily Trading Results 2003
Daily Trading Results 2004
Daily Trading Results 2005
Overview