TheSnapper

Current Bank
TheSnapper    $1 583,41
Mr.Kelly    $438,05
GreenGiant Poker    $143,64
   
Shannon's Demon    $1 024,90
   
Total Funds    $3 046,36
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Dull stuff, to be sure. Mr. Kelly seems mired between $400 amd $500. I have fallen back under $1600, and the Demon is bracing for a terrible beating as Greece collapses and drags down the whole EU with it.
Only The GreenGiant is making any headway...75% profit so far as the bank builds up.
Mr.Kelly is in bad need of a big rally!
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I have also been trying out a rather different idea for Betfair. I have been studying Betfair multiples and working on a system for creating a back bet consisting of 2 or more different events, and then laying against them. The idea being that your big multiple provides "cover" for your lay bets. In theory, this form of derivative trading should lead to small, steady profits. It is, however, not so risk-free and you have to keep a good eye on your position as you go.

I tried this out on Saturday. I created a $10 multiple back bet combining a 3.5 and 3.0 runner. This bet is struck at SP odds, so I didn't know the exact amount it was for , I think it was around $90 if both horses won. I then laid the first runner for $12. The first runner lost and I had a $2 gain ($12 - the $10 muliple bet). If the runner had won, I would then have been faced with either a $90 win if the second horse won, or a $50-$60 loss if it lost. I would have green it up and walked away with a small profit before the race.

Anyway, you could repeat this all day if you want, and then do it on football and other sports. Just an idea for how to use Betfair multiples to create your own derivatives to trade against. (Just a note: keep the odds and stakes low so it doesn't blow up in your face!)