I was reading an article about trading the other week. A comment in there made me realise why the 3% of account holders in profit don't share what they're doing.
Basically, new trading strategies for the financial markets have to be invented all the time, because the moment it becomes knowledge how a particular method is successful - and is copied by others - the liquidity dries up and hence the method becomes less successful (or worse, starts to fail).
This has meant more exotic trading strategies are kept secret, and on the whole the only strategies that can be discussed openly are the ones where "everybody wins" - e.g. if everybody accepts a fundamental in an annual report means the price will go up and everybody invests, the price goes up, hence profit.
I'm thinking in terms of betting - most of us are probably aware of most strategies including dutching and backing under-round, laying over-round to payout or liability (where you can get matched!), straight trading on price movements outside of in-play, "stats bets" on 1.05 or 1000 in-play, trying to get an edge by going to the course, etc.
However, these put most of us in the 97% of accounts not making money. I'm wondering if this is because the moment you share a strategy, it becomes worthless. The only one I can think of that seems to have stood up is trading on fluctuations, but then people keep their reasoning for targeting markets and runners to themselves, so same thing.
One other contrary point I realised is that bookmaker's adopt a "betting strategy" of laying over-round, which seems to have stood up to a few hundred years of hammering... why does that strategy survive being in the open, and others do not?
In essence, it seems these last two strategies still work because there is still a fundamental disagreement over value within the markets. "I believe this is good/bad value" is the bedrock of both actually working.
Was just curious what people's thoughts are: can a successful Betfair strategy ever be shared? And if so, and you have such a strategy, perhaps you would care to prove your point... :-)
Now here’s the crux of the matter. For the first four months it worked really well, identifying backs, not lays as previously. However, over the course of the last month, results have been bad. This begs the question, is the last month a statistical aberration, or were the previous four months’ profits the result of luck? The answer to that question remains unknown – there’s a clear correlation evident in the data, to what extent it can be exploited is another issue.
Always have to stay ahead of the game, I'm thinking about mixing things up a little for the new year myself. In the last week of the World Cup and in the week since, people havent been lumping on favorites to the same extent they normally, what I've noticed alot more money coming into over/under markets, even though I love people gambling on a glorified coin flip its meant I've more liabilities tied up in two runner markets... which I dont like (Brazil tonight, if every day was like this I'd be posting this message by the side of my pool in the Caribbean, every game was odds on for overs).
As I havent been looking at where money goes following big tournaments in the past I can only assume people will start lumping on the favs again in the new season? Maybe I'll just go with my original plan of only following leagues that arent covered live on UK TV, theres enough liquidity in Dutch, Turkish, Russian etc markets for me. When punters have less info and still punt, it can only maximise my returns.
Who knows? Who cares? Its all a mess on here
The point is I agree with everybody who says you have to keep changing your approach, sports and racing do change fundamentally over time.
dogrelataNow here’s the crux of the matter. For the first four months it worked really well, identifying backs, not lays as previously. However, over the course of the last month, results have been bad. This begs the question, is the last month
Now here’s the crux of the matter. For the first four months it worked really well, identifying backs, not lays as previously. However, over the course of the last month, results have been bad. This begs the question, is the last month a statistical aberration, or were the previous four months’ profits the result of luck? The answer to that question remains unknown – there’s a clear correlation evident in the data, to what extent it can be exploited is another issue.
Always a difficult one. You can do some statistical analysis to show the probability of you results being down to chance. Try a chitest. If you're not familiar with it - Excel Help will show you how to do it without too much sweat.
GL
dogrelataNow here’s the crux of the matter. For the first four months it worked really well, identifying backs, not lays as previously. However, over the course of the last month, results have been bad. This begs the question, is the last month
As the market has gotten more and more to 100% (less the commission) it has been more importent to take a view of a horse. Money is driving the market, not opinion. You will find value not by looking at the market, but the price.
As the market has gotten more and more to 100% (less the commission) it has been more importent to take a view of a horse. Money is driving the market, not opinion. You will find value not by looking at the market, but the price.
To take an extreme example, if a market is at 100% and you find a hoss at 2.2 that you value at 1.8 then that is a value bet.
At the moment the traders are dictating the market to such an extent that most horses are being over and under bet creating a market rather than a betting medium.
If you can price a horse up then you can win in the long term.
To take an extreme example, if a market is at 100% and you find a hoss at 2.2 that you value at 1.8 then that is a value bet. At the moment the traders are dictating the market to such an extent that most horses are being over and under bet creating
That was my research. It’s hard to believe it’s over seven years since those two articles were published in SmartSig and quite a lot has changed since then.
Nice one, I still dig around the old copies of smartsig to identify anything relavent to the exchanges! Your article, interested me at the time as it was primarily based on the exchanges that were just taking off and it came at the problem from a different angle. I always said I would get round to investigating your idea a bit further but never got round to it :) On the subject of SmartSig, anyone checked out the online version ? Any good ? The quality of the articles for the magazine version steadily declined until it was stopped a couple of years ago. Have'nt checked out the online version yet but, it does'nt look like things have improved from looking at the website.
dogrelata 18 Jul 10 17:52 That was my research. It’s hard to believe it’s over seven years since those two articles were published in SmartSig and quite a lot has changed since then.Nice one, I still dig around the old copies of smartsig to iden
A good read this thread. I said a long time ago on various threads that the best way to make a profit on here long-term, is for people to stop trying to predict the future and concentrate on predicting the punters and how they bet. I have not looked back since realizing this.
I had a great WC betting and won alot by over staking because I could not believe the prices on offer. But I accept this was a one-off. I will take my winnings and return to trading. I had a good month being Mystic Meg but I have had years of disappointment being Mystic Meg beforehand.
A good read this thread. I said a long time ago on various threads that the best way to make a profit on here long-term, is for people to stop trying to predict the future and concentrate on predicting the punters and how they bet. I have not looked
the best way to make a profit on here long-term, is for people to stop trying to predict the future and concentrate on predicting the punters and how they bet.
I've been saying that for ages.
the best way to make a profit on here long-term, is for people to stop trying to predict the future and concentrate on predicting the punters and how they bet. I've been saying that for ages.
Predict the future and value falls out of the markets like rain from the sky.
Predict how punters bet and you are a trader, feeding the market until the market feeds on you.
If people only bet according to how other people bet you soon have a very circular argument.
No.Predict the future and value falls out of the markets like rain from the sky.Predict how punters bet and you are a trader, feeding the market until the market feeds on you.If people only bet according to how other people bet you soon have a very c
good point. I told this ages ago but no one listened. It is important to understand punters behaviour (odds changes) , game (odds) and body language of players. Back favourites when they are struggling and you can get good odds. Lay underdogs when cruising. ofcourse timing your bets and trading at right times are crucial. If you can do that then you are winner.
good point. I told this ages ago but no one listened. It is important to understand punters behaviour (odds changes) , game (odds) and body language of players. Back favourites when they are struggling and you can get good odds. Lay underdogs when cr
ofcourse timing your bets and trading at right times are crucial. If you can do that then you are winner.
Is that not forecasting the future ? No one but clairvoyants can do that.
ofcourse timing your bets and trading at right times are crucial. If you can do that then you are winner. Is that not forecasting the future ? No one but clairvoyants can do that.
Is that not forecasting the future ? No one but clairvoyants can do that.
Well, if Man Utd are playing at home against Wigan, who happened to score an early goal. Since then Man U have been battering Wigan but have failed to break through and equalise. It reaches HT. I'd say it's not being clairvoyant to suppose the chances of Man U scoring in the second half are high. Backing Man U at say 1.9 or laying Wigan at HT would, in my opinion, be a good bet at that point. And all without psychic powers.
kenilworth Joined: 04 Nov 05Replies: 2694 21 Jul 10 06:35 Is that not forecasting the future ? No one but clairvoyants can do that. Well, if Man Utd are playing at home against Wigan, who happened to score an early goal. Since then Man U have bee
Backing Man U at say 1.9 or laying Wigan at HT would, in my opinion, be a good bet at that point. And all without psychic powers
It's all about prices. Manu to win the second half by 2 goals or more at 1.9 ? what if it was 1.6, or 1.4 ? If it hasn't happened, it may not happen, don't forget that.
Backing Man U at say 1.9 or laying Wigan at HT would, in my opinion, be a good bet at that point. And all without psychic powersIt's all about prices. Manu to win the second half by 2 goals or more at 1.9 ? what if it was 1.6, or 1.4 ?If it hasn
Their licence to print money is in the FOB's they have in the shops, also virtual racing. Match Odds football betting is very difficult for them because of the competative nature of it.
Their licence to print money is in the FOB's they have in the shops, also virtual racing. Match Odds football betting is very difficult for them because of the competative nature of it.
trevh, they CAN lose on individual matches as the money taken in any match is out of proportion to the %chance of 3 options happening, for instance the draw may attract perhaps just 10% of the take, despite having a near 30%chance of occurring and is therefore usually a good result. Having said that, the margins they work to inevitably ensure a profit in the end.
trevh, they CAN lose on individual matches as the money takenin any match is out of proportion to the %chance of 3 optionshappening, for instance the draw may attract perhaps just 10%of the take, despite having a near 30%chance of occurring and is th
88% of the cash in the LA Galaxy 90mins market is losing, they were best priced 1.58 pre KO.
If LA get 2 goals and come back, the books will lose money.
Correct avocado88% of the cash in the LA Galaxy 90mins market is losing, they were best priced 1.58 pre KO.If LA get 2 goals and come back, the books will lose money.
Is that purely from a racereading angle or have you taken a view about the form of horse pre-race aswell, kohaku (or mix of both!)?
ps hope you're laying at under 10/1!
Is that purely from a racereading angle or have you taken a view about the form of horse pre-race aswell, kohaku (or mix of both!)?ps hope you're laying at under 10/1!
When I first came on here 9 yrs ago. I made 2k the first month.doing what I am now doing again, only its been seriously tweaked,but the principle is the same.
The goal posts moved.and I started to lose,due to the advent of fast pics etc.
Its based on logic,mathematics,human error..
Saturdays highlight this beauifully..ex Last 3. were 74/78..94.87 % SR.
Dunc.When I first came on here 9 yrs ago. I made 2k the first month.doing what I am now doing again, only its been seriously tweaked,but the principle is the same.The goal posts moved.and I started to lose,due to the advent of fast pics etc.Its based
I dont watch the race,study the race,or listen to any pundits etc.
I just go into Robot mode for 3 - 6 hrs.
Have no emotions,nothing..
I will keep this updated.
Flat Racing only...them IR backers dont get much time to use their trigger finger. esp Sats.
I dont watch the race,study the race,or listen to any pundits etc.I just go into Robot mode for 3 - 6 hrs.Have no emotions,nothing..I will keep this updated.Flat Racing only...them IR backers dont get much time to use their trigger finger. esp Sats.
Intriguing, kohaku. I bet it's harder than it was 9 yrs ago! Certainly a healthy strike rate. Do you use any software for IR (one-click?) or just normal Betfair interface? Thanks for posting and good luck.
Intriguing, kohaku. I bet it's harder than it was 9 yrs ago! Certainly a healthy strike rate. Do you use any software for IR (one-click?) or just normal Betfair interface? Thanks for posting and good luck.
Try and name the winner half way through a race.It's just as difficult as before the start,yet the odds on some runners have halved.(admittedly some will have dropped away) The first horse that shortens significantly in running usually is not the eventual winner.
Try and name the winner half way through a race.It's just as difficult as before the start,yet the odds on some runners have halved.(admittedly some will have dropped away)The first horse that shortens significantly in running usually is not the even
''The first horse that shortens significantly in running usually is not the eventual winner.''
The betting isnt suggesting it would be unless it has gone odds-on
''The first horse that shortens significantly in running usually is not the eventual winner.''The betting isnt suggesting it would be unless it has gone odds-on
Thinking Outside the Box..is the way forward nowdays..
You have to do the OPPOSITE to what the majority do,to WIN.
Its the same with shares,although its going against human nature.
Let the stats take care of it.
Looking at IR prices after each race,is the Key.
Thinking Outside the Box..is the way forward nowdays..You have to do the OPPOSITE to what the majority do,to WIN.Its the same with shares,although its going against human nature.Let the stats take care of it.Looking at IR prices after each race,is th
K, impressive figures. You must have nerves of steel and/or a very good approach to play IR blind. I sometimes dip in that way, but by the time I've enough confidence to place a bet the moment is usually gone. There are some sports where I find pictures do hinder me and I much prefer to watch the market and work out my bet based on the overall situation.
Must say I miss your hunter chase write-ups.
K, impressive figures. You must have nerves of steel and/or a very good approach to play IR blind. I sometimes dip in that way, but by the time I've enough confidence to place a bet the moment is usually gone. There are some sports where I find pictu
Imperative that i do NOT watch the RUK races,forming opinions IR is fraught with massive danger.
Had a couple of 1.01's 1.05 & 1.08 beat.
The stats say,carry on. In another plus £200,moving up to Level 5
= Even more Profit.
REMNo nerves at all.Robot. Imperative that i do NOT watch the RUK races,forming opinions IR is fraught with massive danger.Had a couple of 1.01's 1.05 & 1.08 beat.The stats say,carry on. In another plus £200,moving up to Level 5 = Even more Profit.
Started the week (Last Sat) with my ar$e kicked on race 1..
Broke one of my written rules.Forget CHESTER.Lost over 300 there.ended the day with system worse.LOSS £536.by end Thurs Losing £552.
Back with system best today.. 20/20,got 2 in the 7.35 H
Today..Horse Racing: £570.21 | Tote: | Total P&L: £570.21 Last 7 Days.. + £18. System Total (35 Days) PROFIT..£3081.
446/496...89.92% SR
Current Winning Run 20. Previous bests 21.25x3. 27x2
Hoping tomorrow is back to norm..
Less is More.
Started the week (Last Sat) with my ar$e kicked on race 1..Broke one of my written rules.Forget CHESTER.Lost over 300 there.ended the day with system worse.LOSS £536.by end Thurs Losing £552.Back with system best today.. 20/20,got 2 in the 7.35 HTo
Sat UpDate...Horse Racing: £514.64 | Tote: | Total P&L: £514.64
System.25/27..92.59% SR---Profit £363.
36 Days.471/523..Back over 90 at 90.06% SR
Profit £3444.
Dont forget...Less is More
Yes Freddie.Sat UpDate...Horse Racing: £514.64 | Tote: | Total P&L: £514.64System.25/27..92.59% SR---Profit £363.36 Days.471/523..Back over 90 at 90.06% SRProfit £3444.Dont forget...Less is More
Watch the Replay of 4.55 Y..Knot Garden 6/5 IR. lol
Fast Pic idiots,cutting each others throats
End of an Amazing 3 Days 60/62 ..96.77% SR.On current winning run of 30Not bad for an old git with slow pics.Experience Counts.imo..Watch the Replay of 4.55 Y..Knot Garden 6/5 IR. lolFast Pic idiots,cutting each others throats
Did any one else read a certain large bookies (lad*b) artical about the world cup ???
All bets recieved on there website, that were placed inrunning during the match.. were ALL matched against betfair , and other online providers !!
I kid u not they to no risk, yet did a Huge turnover..
Did any one else read a certain large bookies (lad*b) artical about the world cup ???All bets recieved on there website, that were placed inrunning during the match..were ALL matched against betfair , and other online providers !!I kid
Had a blinding 3 days £1400 ( High + £3904) followed by a p1ss poor week.lost 4 from 5 days.
Gratefully took the £2910 profit.. May resume for the final RUK meets for small stakes.
Gone back to Selective Back/Lay IR..
The obvious just scored at Newcastle Calypso Magic..6/4 Win or Lose.
Update.. System Aborted after 6 weeks..Had a blinding 3 days £1400 ( High + £3904)followed by a p1ss poor week.lost 4 from 5 days.Gratefully took the £2910 profit.. May resume for the final RUK meets for small stakes.Gone back to Selective Back/La
Went a bit t1ts up when the ground went,went down to +£2350.
Adapted and reduced stakes by 50%
Today 12/12 + £179..Total + £3064
Update 9 Oct from 24/7Highest + £3904Went a bit t1ts up when the ground went,went down to +£2350.Adapted and reduced stakes by 50%Today 12/12 + £179..Total + £3064
Bet 1. Lets Get Serious WON... + £57 (probably robbed this time),but all part of the stats.
New Henderson B/Lay IR System launched todayObjective to win stake.win or lose.Level 1. £50Bet 1. Lets Get Serious WON... + £57 (probably robbed this time),but all part of the stats.
when i browse these forums, i actually feel like a god looking down on ants pushing rocks around, getting nowhere.
forget everything you think you know about betfair and youll be in a far better position
maybe theyve all started winning when i browse these forums, i actually feel like a god looking down on ants pushing rocks around, getting nowhere.forget everything you think you know about betfair and youll be in a far better position
Glasgow Brian Joined: 03 Feb 09 Replies: 1122 18 Oct 10 12:22
How accurate is the money punted on here as to where the money is going ?
60% of the time it works every tme
Glasgow Brian Joined: 03 Feb 09Replies: 1122 18 Oct 10 12:22 How accurate is the money punted on here as to where the money is going ? 60% of the time it works every tme
clacherholiday2 can I ask You couple of questions concerning this thread earlier on in private? it has now gone whole different way than it use to be...my email is haifisch(at)hot(dot)ee.
clacherholiday2 can I ask You couple of questions concerning this thread earlier on in private? it has now gone whole different way than it use to be...my email is haifisch(at)hot(dot)ee.
Hi,i'm willing to give people help as regards understanding form,and how to interpret it correctly.Ive been punting for 40 years and should have won a pile.Unfotunately as in the case of Abu Kadra [Nov Handicap 1988?]i was asked that as it was the outsider of 24,how could i be right and everybody else wrong?,exactly what i was thinking myself.The horse travelled in second place all the way down the straight travelling like a 5 to 1 on shot just waiting to go,and duly hosed up.So i reckon i know a bit,shame about the lack of confidence,[betting shop punters negativity?],anyway. I will not discuss "systems".So to start,tell me all the things that you think you need to cover as regards what you think comes under the banner of "form",and marks out of ten as to how important you rate them.
Hi,i'm willing to give people help as regards understanding form,and how to interpret it correctly.Ive been punting for 40 years and should have won a pile.Unfotunately as in the case of Abu Kadra [Nov Handicap 1988?]i was asked that as it was the ou
It's not much to discuss. People have tried hard to find something to talk about, over the years that Betfair have existed. For example a trivial subject as "value" have been discussed to malediction, from every possible angle. Many members have also been old and tired over the years, and younger generations are quicker to learn. Anyway, I sincerely hope you can find someone who can at least fake some enthusiasm.
Good luck and good night!
It's not much to discuss. People have tried hard to find something to talk about, over the years that Betfair have existed. For example a trivial subject as "value" have been discussed to malediction, from every possible angle. Many members have also
tier 19 Oct 10 13:24 clacherholiday2 can I ask You couple of questions concerning this thread earlier on in private? it has now gone whole different way than it use to be...my email is haifisch(at)hot(dot)ee.
If you ever see this then just send me a message on here.
tier 19 Oct 10 13:24 clacherholiday2 can I ask You couple of questions concerning this thread earlier on in private? it has now gone whole different way than it use to be...my email is haifisch(at)hot(dot)ee.If you ever see this then just send me a
pipedreamer, if you look at the dates, you will realise that this is a very old thread
Out of interest, which factors do you consider the most important re. form study? is there anything that others prob dont routinely use that you consider important? cheers
pipedreamer, if you look at the dates, you will realise that this is a very old thread Out of interest, which factors do you consider the most important re. form study? is there anything that others prob dont routinely use that you consider important
Duncan Id,i actually have no idea as to what other punters think as regards form,i was mailing a guy a few months ago re looking at form and the value of certain horses being held up in the rear and coming thru to win when it was a slow pace early, and the horse being the only one to come from the rear.Of course the placed horses in said race must have raced prominently,esp if the 2nd actually led and didnt get taken on. He mailed me a few weeks later and told me that Nick Mordin had that week put it in his column in the weekender as a system to use.Iwas astounded,AS I THOUGHT THAT ALL PUNTERS USED IT WHEN WORKING OUT FORM!!!. I have tried b4 to discuss such stuff on here and actually received no replies!!!!.As i say i have no idea how punters think.Well actually theres a lot of nonsense spoke as regards punters comparing Group form and handicap form,esp big field handicaps. Theres a world of difference between a fast run cavalry charge up the straight,i.e. Lincoln,and a small field group/listed race where theres no pace,something that sinks St Nick Abbey etc. only the other day at Chester,punters were supposedly surprised when Brown Bomber finished last.He had won a very fast run race when being held up at Royal Ascot.So small was the field at Chester and surprise surprise no pace on that Fallon at one point had to actually attempt to take the lead so that the crawl would sink him.He probably thought he'd get sunk anyway so slow was the pace!!. Anyway thanks for the reply,I welcome any more discussion on the subject,perhaps we can open up a new discussion on another thread.p.s.i'mabroad for 8 days from the 22nd of this month.
Duncan Id,i actually have no idea as to what other punters think as regards form,i was mailing a guy a few months ago re looking at form and the value of certain horses being held up in the rear and coming thru to win when it was a slow pace early, a
Winners don't share. DiscussI tried but you all thought I was bonkers. Well I aint and it works.http://community.betfair.com/general_betting/go/thread/view/94082/29164201/on-the-chase?pg=1Today will be a good day.