Why Betfair Is Like The Stock Market For the Working Man
Let me start by giving you two examples-
If I asked you what you thought of Vodafone getting a new CEO, if you are like me then you would probably not have clue and further more we wouldn't know what effect it would have on the share price.
But on the other hand if I asked you what you thought of John Terry being injured and not being able to play for this weekend, you are probably aware of what it would do to Chelsea's chances in the game and more than likely know how it would affect the odds market.
The above are two different situations but the principle is the same and this is what leads me to say 'Why Betfair Is Like The Stock Market For the Working Man' because betfair is different to traditional bookmakers as you don't just have to back the outcome as you can lay it, by laying we are saying the outcome wont happen, so as Betfair is a betting exchange and we can choose which side of the market we want to be on, we can back or lay, or to put it another way we can buy or sell- as in a stock market environment.
So lets say we lay Chelsea (buy) as we now think the won't win the game, once a game starts the odds price is moving in line with peoples opinions and will start to drift out if they don't score, once the odds have moved sufficiently we can back Chelsea (sell) and have a locked in profit on Chelsea, but we expect them to not win, we would place another lay bet to hedge our profit across all three outcomes in the match odds.
You don't need thousands to get involved in the sports betting exchange and any profits are tax free.
I have been trading on betfair for a number of years, but only recently have I been able to turn a profit, after lots of experience. My aim this year is to compound the profits I make daily, by adding a small percentage gain each day would allow me to double my betting bankroll with a month, for example
If added just 3% profits a day to my betfair balance, then I would double it in 24 days.
Imagine if I could do that every month, I would have a substantial amount by the end of the year, and that is exactly what I am trying to achieve with my betfair bankroll