Tips and Tricks

Move From Placing Bets to Trading Them

With the betting exchanges and online betting sites today, it’s never been easier to place bets at a moment’s notice, wherever you are and whatever you’re doing. As long as you have a phone or tablet with you, you can keep an eye on your bets and place live in-play bets when you want to. With betting exchanges you can also lay other people’s bets too – so that if they lose, you take a profit.

The biggest betting exchange in the world is Betfair, and the number of users grows by the day. For anyone who is a regular user there’s a way of improving your ability to monitor many markets at once and to make the move from being a regular bettor to a trader, getting an edge over other users on the site.

Betting trading is a little like stock market trading. You may not necessarily be that interested in which team is actually going to win the Premier League next season, you’re more concerned with how the betting markets connected with it will move over the coming months. But in order to keep track of multiple markets, you either have to have a lot of screens and a lot of time to keep a visual on all the changes, or you need to download a Betfair trading app to do the monitoring for you.

Trading apps allow you to see numerous markets on one screen, with real-time updates on prices and offer an array of trading tools so that you can trade bets like a pro. You may not think you’re ready to start placing trades on betting markets and that’s where the simulation mode that the apps come with is really useful. In simulation mode, the live Betfair data is used on the bets that you place and accept, but there’s no real money involved. This means you can test-run different betting systems at no financial risk, then switch to real money when you’re ready.

There’s a host of different trading apps to choose from, depending on which kind of markets you’re most interested in. The majority are available on a free trial basis, so you can fully test them before deciding which one to subscribe to, and see how skilled a betting trader you can be.