Horse Racing Trading Video
Video 7: 9th March 4 min 56 sec + £8
0:18 I submit Back 1000 @ 1.26 when the price is 1.25/1.26 but I don’t get matched and it remains as an unmatched bet.
0:50 My Back 1000 @ 1.26 gets matched which is shown by the amounts over the other 2 ladders showing that I have Backed 1000 on this horse. I immediately submit Lay 1000 @ 1.25 while the price is still 1.25/1.26 but I don’t get matched and it remains as an unmatched bet.
Scratch
0:57 I still have my Back 1000 @ 1.26 open position because my Lay 1000 @ 1.25 is still unmatched. The price looks like it is going to go up from 1.25/1.26 so I submit Lay 1000 @ 1.26 while the price is still 1.25/1.26 but the 1.26 offers are trading out. I miss the last offers at 1.26 so my Lay 1000 @ 1.26 gets submitted as the new bid at 1.26/1.27 but is quickly matched. By placing a new Lay order at 1.26 instead of moving my 1.25 bid up to 1.26 I still have an unmatched Lay 1000 @ 1.25 waiting in the queue.
1:06 My Lay 1000 @ 1.25 is matched which you can see by the amounts above the other 2 ladders showing that I have Layed 1000. I immediately submit Back 1000 @ 1.26 but I don’t get matched and it remains as an unmatched bet.
Scratch
1:10 The price looks like it will go down from it’s current 1.25/1.26 before my Back 1000 @ 1.26 gets matched so I submit Back 1000 @ 1.25 as the 1.25 bid is trading out. I manage to get the last amounts at 1.25 so I am matched instantly and the price then immediately goes to 1.24/1.25. My Back 1000 @ 1.26 is still in the queue as an unmatched bet because I submitted a new Back order at 1.25 instead of moving it down to 1.25 because I believe that I have a good position in the 1.26 queue.
Scratch
1:46 My Back 1000 @ 1.26 gets matched while the price is still 1.25/1.26 but the 1.25 bid has over 14,000 on it and rising. I don’t want to join the back of that amount of money trying to Lay at 1.25 and think that the 1.26 offer could trade out to 1.26/1.27 so I immediately submit Lay 1000 @ 1.26 to Scratch the trade. The price is 1.25/1.26 when I submit so I am matched instantly. The price then immediately goes up to 1.26/1.27.
3:32 I submit Lay 1000 @ 1.26 when the price is 1.26/1.27 but I don’t get matched and it remains as an unmatched bet.
Profit
4:26 My Lay 1000 @ 1.26 is matched which you can see by the amounts above the other 2 ladders showing that I have Layed 1000. The price is 1.26/1.27 with over 20,000 on the 1.26 bid so I submit Back 1000 @ 1.27 which goes in near the front of the queue at this price and is filled after waiting as an unmatched bet for a few seconds. My position above the other 2 ladders shows that I am Flat and the amount over this ladder shows that I have made 10 pounds profit if this horse wins this race, having backed and Layed the same horse for the same stakes but at slightly different prices: If the horse wins I will be paid out 270 on my Back 1000 @ 1.27 but will only have to payout 260 on my Lay 1000 @ 1.26, leaving me with 10 pounds profit leftover. If the horse loses I will make 1000 and lose 1000 so will not lose anything.
Hedge
4:44 I click on the Hedge button to convert my potential 10 pound profit if the horse wins, into a guaranteed profit of 7.88 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 10 by 1.27, which is 7.87, and then Lays 7.87 @ 1.27. Now if the horse wins the race I will make slightly less than 10 pounds because I will have to pay out 2.12 ( 7.87 x 0.27 = 2.12) on this extra Lay bet of 7.87 that I just took on this horse. But, if this horse loses, I won’t make my 10 pound profit but I get to keep that extra Lay bet of 7.87 which will be my profit.
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