Have these things at the ready!
- Live pictures (no delay)
- Digital radio commentaries (not online) can be faster than tv
- Accurate weather forecasts - plenty of good sites out there these days
- Trading software
Before explaining how we trade the markets please acknowledge that scalping is an art form, the trading strategy below is worth its weight in gold when applied correctly with relentless discipline. How successful you are with it will rely on you, so practice first before using big stakes and for the love of God do not let the trades run for long, get in and out quick!
Betfair Trading Strategy:
Generally, when trading on Betfair, we are looking to get in and out very quickly in cricket markets – especially T-20 games, where the odds can change very quickly. This is why we need as fast a live feed as possible!
1. So, we are looking for events which swing the market – wickets and boundaries.
2. We tend to trade just after the event has happened. With experience and looking at what’s happened previously in the market, you can generally get a feel for whether the market will continue in the same direction for a few more ticks or will bounce back.
3. Wickets late in the innings are often a rich seam of profit. There’s nearly always a knee jerk reaction which means a big move, but with runs already on the board, wickets make much less difference at this stage, and there’s nearly always quite a big bounce back.
4. An example from the IPL (the worlds biggest T20 competition).
'There were two perfect examples late in the Delhi innings yesterday. When Yadav was out, the Punjab price dropped suddenly to 1.56, but before another ball was bowled it was out to 1.66 again. Shortly afterwards Agarwar was out and the Kings XI price again plummeted to 1.6, before drifting to 1.67 – again without a ball being bowled.'
5. If you’re in and out before a ball is bowled you keep risks to a minimum and can use big stakes.
6. To do this though you do need a good trading programme. I use Bettrader but it really is personal preference.
7. It does take a lot of experience and you need to develop a real feel for the different markets. The T-20 Blast is very different from IPL, and we tend to look for gaps between prices but using smaller stakes. That way you can often get several ticks in an instant. If anything, although markets are thinner, the English matches are more profitable for us.
So there you have it, this is how we have made a mint trading on the Cricket markets. Richard Futter makes a full time living (has done for 11 years!) just trading cricket. So give it a go and see how you get on!