bot for betting

About betting exchanges

Betting exchanges have revolutionised the betting and gambling markets. I don't use the word revolutionised lightly, They have turned the market completely on its head. Betting exchanges mean that no longer does "Gambling" have a pariah status. It has turned into another risk market; similar to pork bellies, DOW jones futures or foriegn exchange markets. However, There are many significant advantages to these exchanges as well that outpace traditional risk markets. Please view the presentation to get an overview of these exciting new markets.

Betting exchanges have huge turnover now and many billions of pounds are matched each month on these markets. Horse racing and Soccer are the biggest volume markets but Tennis, Cricket and other popular sports also contribute a significant amount also. People come to the market for many different reasons. Some to get better odds than they can get through traditional sports books. Other come to arbitrage between the exchanges and other arenas while some come to trade the markets in much the same way as speculators trade the stock market.

Hints and tips

Work on a clearly defined strategy, get your money management right and make sure you are psychologically prepared for you strategy. Doing simple things very well in my opinion will serve you well if you are well disciplined. Usually this means taking carefully framed risks with a positive expectancy. Trying to "beat the odds" or the welter of well run automated trading systems is not a good strategy and will most likley lead to long term losses. If you make lossed, don't chase them, that is a fools game and the main source behind the very sad stories you often see out there. In short, keep very disciplined.

If you have a good strategy test the failure point and not the wins to figure out if you are heading in the right direction. Human nature tends to generate confirmation bias and if you are not careful you will accidently confirm your own success, pat yourself on the back and then lose a fortune just when you least expected!! Be cynical!! Don't believe you have found the next great thing, somebody else has probably already been there. Settle on something that is easy to understand, simple to execute with a positive expectancy. That should see you through.

There are now many new tools that are coming out to exploit the opportunities in the market place. There are some excellent software trading tools such as Bet Angel, which semi automate process on Betfair. Making it even easier to use and interpret information coming from the exchanges. They also produce a free version so you can 'play around' with the concept.
These are exciting times, Best of luck with your exploits in the exciting new medium.