Horse Racing Trading Video
Video 3: 15th March 4 min 30 sec + £16
0:06 My unmatched Back 200 @ 5.2 which I submitted earlier is matched. The amounts above the other 2 ladders show that I have Backed 200. There is still over 10K waiting to Back at 5.2 so I decide to hold the position for a larger than normal profit, with the idea that if the money on 5.2 starts to trade out I will Scratch my position by submitting Lay 200 @ 5.2.
0:40 I submit Lay 200 @ 4.9 while the price is 5.1/5.2, which remains as an unmatched bet.
1:20 I cancel my Lay 200 @ 4.9 and submit Lay 200 @ 4.8 to replace it. I could also have done this by clicking and dragging it down from 4.9 to 4.8 and then releasing the mouse button, or I could have clicked the down arrow next to 4.9 in the Bets tab below the ladder and pressed Send.
4:00 My unmatched Lay 200 @ 4.8 is matched and the amounts above the other 2 ladders show that my position is now flat. The amount above this ladder shows that I have 80 profit on this horse if it wins.
4:02 As the race is about to start I immediately click on the Hedge button to convert my potential 80 profit if the 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 80 by 4.9, which is 16.33, and Lays 16.33 @ 4.9. Now if the horse wins I will still make my 80 profit but I will have to payout 16.33 x 3.9 = 63.69 on that extra Lay bet so I will be left with 16.31 profit. However, if the horse loses, I won’t make the 80 profit but instead I will get to keep that 16.33 Lay bet that I just took, giving me a 16.33 profit on the race if the horse loses. Win or lose I now make the same amount.
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