Stop Matched Betting DO Betfair Trading Instead
Matched Betting and Betfair Trading are two methods of trading that both allow you to profit from betting on the results of sports events with little or no risk.
Matched betting is simple: it consists of placing bets on both sides of the market and being rewarded with a free bet when your bets have been successful.
It works by using free bet offers from bookmakers to place bets with another bookmaker and claim your winnings from the original bookmaker without losing any of your own money.
Trading on Betfair is not only very profitable in the long term, but it is also an excellent hobby for traders who want to enjoy themselves while building their bank.
If you want to succeed at trading on Betfair, you need to learn and practice Betfair trading strategies.
Betfair Trading And Match Betting – Key Differences
Matched betting is great when you're starting trading to help you build a bank for Betfair and get used to the industry as a newbie.
The downside is that you end up getting gubbed by the bookies. With time you will run out of offers and end up spending ridiculous amounts of time looking for offers, and it is too time-consuming for the amount of money you get.
The good news is that you can make money trading on Betfair. Here are the key differences between the two.
- Matched betting has zero risks since you are guaranteed to get that small amount of money. With Betfair trading, you might make a loss. The important thing is to have a mental shift that you'll not always win. However, you will start winning and making a good bank with the right Betfair trading strategies.
- Betfair trading profitability is massive compared to matched betting longterm and essentially limitless.
Betfair trading gives you a much better chance of winning than if you bet with a bookmaker. That's because bookmakers take a cut from every wager you place and pass on the remainder to the winner. On Betfair trading, you set your odds.
3. Betfair trading is less time-consuming.
Betfair trading has a high element of risk, but there's also high profitability.
Football Trader, Do you need LIVE pics to be profitable?
Is it really possible to trade without using live pics?
Being a football trader does not mean you have to sit and watch every match.
Let's face it, most games are on the weekends, right? Where life, family, and everything else gets in the way. The good news is trading does not have to get in the way of your life, and it should add more value.
I want to state here that the industry is to blame for their emphasis on live trading, and a lot of the traders out there have said you cannot trade properly without live pictures? That's just plain wrong. How do I know? Because I don't always use live images, neither do many of the members at BTC. I'm a data guy, and the biggest advantage is that it takes out emotions from trading.
How to trade without live pictures
Like anything in life, you need a plan
- Trading plan
Your Saturday may be jam-packed with activities. However, that should not be an issue.
Use your notes app on your phone to help you track everything. The notes should include your research, strategy ideas, games of the day that you want to trade and what you want to look out for.
2. SoFascore App
SofaScore is a free app for Android and iOS that provides live scores, stats, and football matches.
SoFascore is the biggest football app in the world. Every day more than 1,5 million football fans use SoFascore to check scores, results, and live tables of 2000 football leagues and cups worldwide.
But at the same time, SoFascore is also an app for traders where you can place bets on your favourite matches. The platform allows anyone to trade any soccer match and eliminates chances of getting lost in details of the various matches, and it makes them an excellent place to trade. Trading soccer matches requires perfect information, precisely what the soFascore app offers.
Watch Ryan on the video showing what soFascore is all about and how you can use it.
Why You Must Keep Testing Trading Strategies
We all love profitable trading strategies. Many people believe in their strategy, which is a good thing. However, they have a "fixed" strategy they use repeatedly. Relying on a single trading strategy is a mistake that many beginners make, and they find one strategy and stick to it. While this can work well in the short term, it doesn't take long for markets to catch up with them. It's important to note that it's essential to keep an open mind and not fall in love with a particular strategy when testing trading strategies.
Here is the thing: even the best traders constantly tweak their strategy to improve and refine their trading. Trading strategies are like the "holy grail" of betting. Many people dream of creating trading strategies that will turn them into millionaires overnight.
Having a backup strategy
A good backup trading strategy/plan lessens your variants by distributing the risk. Using a single strategy is not only risky but the worst plan. Although skill plays a significant role in trading success, luck also plays a part. Think of it this way, if you have 5 trading strategies, they all have different success rates. Some will win, some will lose. The beauty of it is that you will end up with a win from at least one strategy. With many strategies, you can split your risks in different ways. As you get more into trading and want to get to pro-level, you will discover the importance of variants.
What I like about the Betfair trading community is that members are always sharing their winning strategies. For me- Martin, my golden rule is always to be testing something- In the background!
The good news about testing is that you can test the strategies/ ideas without placing money on them and see how they worked out. Decide whether it's a strategy that has the potential to make you some money. All it will cost you is a bit of time and research, working out your selections, and looking at the data you have.
So what should be your biggest motivation when testing winning Betfair trading strategies?
Watch Martin here as he talks about his biggest motivation using different strategies to build his bank.
Follow others trades, sod's law it'll lose
Question, have you ever followed a trader who's profitable because you've seen them post their trades on a forum or Twitter…. Then you've followed it, and it's lost
I bet you were watching them for a while before putting a trade on, right?
Then you nearly did it but didn't, and that trade roared home.
You decided the next post you're on….
Then it lost. Which would be ok but you upped your stakes, didn't you?
How can you use other people's strategies to build your own?
We will look at three important things to always think about, even if you're using someone else's strategy.
You need to keep these points in mind:
- Firstly, they've tested that strategy
- They stake correctly
- They get the variance
Some of the things you will need to check carefully are
- Look at the games they pick - What are they choosing? Can you see any reasons why?
Learn what is so special about the games that they pick. You will notice a pattern.
- The entry point and the exit times - what does that tell you?
You need to note it down both times. With this information, you will notice that you can make different decisions based on their strategy.
- What can you do better or differently on this strategy?
You can use the premise of their strategy to make your own. You don't have to re-invent bread, but you can always make it better to your taste and preference. Go ahead and learn as many strategies and use what works for you.
Books are the best way to learn about anything, and betting is no exception. Numerous books will teach you how to become a better trader.
There are books for beginners, intermediate, and advanced bettors. These books will teach you the basics of sports betting, including types of bets and strategies. And to add to that, books you read don't necessarily have to do with trading but about life tactics and finding out how other people have made it in different fields of life/careers.
Books can help you become a better betting trader. Today you have the option of reading a physical book or going the audio way.
One of Martin's books is BOUNCE- the myth of talent and the power of talent by Mathew Syed. The book talks about his life story and how you can learn from his experiences.
In Bounce, World Champion table tennis player and coach Matthew Syed provides a fresh perspective on success and failure. Drawing on historical examples and his remarkable career, he argues that luck plays a far greater role in success than most of us imagine-and often; the best way to succeed is to embrace failure. Syed shows that by recognizing the role that luck plays, we can learn how to improve our own lives and take advantage of opportunities offered by chance encounters.
How to focus your attention on one trade at a time!
Have you ever tried to focus your attention on one trade, but you are still aware there are loads of games on simultaneously?
Attention to detail is an essential aspect of successful trading. If you want to become a successful trader, you must focus on your trading. There are a lot of distractions, and if you can't focus on what is most important and ignore everything else, you will never be able to reach success.
We've all been there, Saturday 3 pm wanting to trade...
There are so many games happening around our trade.
We get pulled in by the other games, then we lose and feel awful!
Focusing your attention on one trade at a time is one of the most important things that you can do. I believe the best way to trade is to narrow your options and focus on one trade at a time.
Why it's essential to focus on one trade?
It's what the pros do
Pros don't run around chasing different trades. Everyone wants to win, but the reality is that only a small percentage of sports bettors make a profit. One of the main reasons is that many people spread themselves too thin and bet on too many games.
To be successful in your Betfair trading, you have to be focused on one trade at a time. Multitasking will only serve to dilute your attention and destroy your focus. It's essential to break down your strategy and keep it simple.
At BTC, we care about your success, and our goal is to guide you and teach you to become a better trader.
How can you remain focused on one trade?
- Plan your trades
Planning prepares you for the most excellent chances of winning.
2. Create time to trade
In your plan, include the games and times you want to trade.
3. Create a checklist
Your checklist will include the entry and exit. It allows you to focus on what is happening in your trade.
4. Scrap out notifications
Don't add any more games in your software that tells you what is happening. Also, don't check other games. Importantly pay great attention to your checklist and what is happening in the game.
This exercise will help you improve as a trader. Remember, the more data you have, the better armed you are at your trade.
How does tug of war help you with focus? Watch the video as Ryan explains the concept of tug-of-war.
Would you like to become a pro-trader with winning strategies?
Visit BTC and get free trading strategies.
Watch BTC Youtube Channel and interact with like-minded Betfair traders.