Most of you are probably losing money from betting, and that’s because you are doing many things wrong. Whether that’s through lack of experience or bad habits is a question you need to ask yourself. However, one thing is absolutely clear, it’s possible to make good money from betting if you do things right. In this tutorial Betting sports to win money, we are going to show you how to use betting exchanges to guide. We would like to re-iterate the word ‘’guide’’, since we are not suggesting you bet on the exchange.
I’ve used this method to make 20-30K per month with high street bookmakers in Germany and the UK, but it should work in other countries throughout the world. And, here’s the good thing, you don’t need a lot of experience. In fact, being sound at mental arithmetic and quick on your feet should suffice.
BEAT THE 100% BOOK PRICE
The fact is, if you can consistently beat the 100% book price you will finish ahead. How much money can you make will depend on a number of factors, such has which bookmakers you have at hand. Before we proceed, we would like to say this is not matched or arbitrage betting. In fact, it’s not trading at all, and it’s simply based on bookmaker inefficiencies.
Most important is access to the internet, or working with someone who can supply you data from the betting exchanges. To be frank, i used to have the wife sitting at home on the computer, while me and a couple of my ‘’workers’’ were placed near betting shops. However, you can also work with a mobile connection if preferred, although it’s more difficult to click through the betting exchange odds.
You will certainly need direct access to the Betfair/Matchbook exchange odds, and by that i mean you shouldn’t be relying on odds checking sites. If you are in a country were Betting exchanges are blocked, simply take a VPN and set it to the UK. The object of the exercise is to have live odds at all time.
WHAT YOU NEED TO DO
This is the easy part, but you will need to be quick and efficient. Open the betting exchange so you can see league by league has this will allow you to see the prices for all matches in that league. Now, you just have to identify if it’s possible to beat the 100% book with the bookmakers you have at hand. In theory, this can be both online and with high street bookmakers, but the latter will be an easier and you are less likely to be detected. If you see a team being offered at 2.00 and the 100% book price is say 1.93, you should make the bet. This applies to any odds on show, you just have to beat the 100% book price.
The markets are most volatile close to kick off, and it’s also easier to identify the 100% book price. Lets say the German Bundesliga (kicks-off at 15:30) was about to start in half an hour, now is a good time to get tracking and betting. Afterall, team news becomes known, and dynamic odds bookmakers are trading at their busiest. Since prices on the betting exchanges track what’s happening on Asian markets, it’s easy to identify were value lies.
The reason, high street bookmakers not changing odds at this stage, and that’s because they are mainly catering to a leisure market. We should also mention that detection is less likely when it becomes hectic, because everyone is trying to place last minute bets.
Furthermore, on the weekend kick-off times on European leagues vary, so you can bounce from one league to the next. Alternatively, you will be even more efficient by opening all football games in time order so you can see what’s up next.
And, while we use football for our working example, you should also track other sports, since bookmakers sleep even more on lesser followed sports.
IDENTIFYING 100% BOOK PRICE
This is the part were you need to be quick with the maths. If you see Exchange bet odds of 1.99 3.50 4.40 and Lay odds 2.01 3.70 4.60, it’s fair to surmise that middle odds of 2.00 3.60 4.50 (100% book). If bet odds are 1.36 5.50 9.00 and lay 1.38 6.00 12:00. Then call the 100% odds 1.37 5.75 10.50 (not exactly true but close enough).
THE BIGGER THE DISCREPANCY
The bigger the discrepancy the bigger the bet, it’s really that simple. The only thing is you need to understand is which odds offer the bigger discrepancy, so would you prefer 12.00 for the 10.50 odds or 1.42 for real odds of 1.37. The answer is clearly the second part, but more on that another day.
You need to take any taxes or other charges into consideration, so hopeful it’s free of any extra cost were you live.
No need to trade your bet by selling on the Exchanges. Why pay a commission, it’s half defeating the object.
Get others to place bets on your behalf, and don’t always bet to Maximum unless you want to be noticed.
Accept that odds at starting time could have bounced back and you might be betting at a theoretical loss. However, this will balance out and others will move more into your favour.
Make sure you have enough cash, because even Casino’s with odds in their favour can have a bad night.
Stay focused, although at some stage you might want to put in some ‘’small’’ silly bets to act has flak!
Don’t stand their before the bookmakers watchful eye flicking through odds - that’s for you to know and them not to know!
PS - Bare in mind that professional betting can be a game of psychology, so play it the best you can.