If you are total beginner, first things first you should download a FREE copy of my Beginner’s Guide To Betfair Trading. This will give you the basic concepts and fundamental knowledge required to undertake any form of trading, whether that be tennis, football, or the mighty horse racing markets! Horse Racing Trading is by far the most challenging type of Betfair trading, so I suggest you start out with Football until you fully understand the process of backing and laying, and are doing it in your sleep. Racing needs extremely fast thinking and reflexes, one mistake can be costly.
I will freely explain some methods in detail, some with more brief details, and some not at all (just being honest!)
Aside from the fact the information has cost me a fortune to learn and develop over the many years I have been trading, it would take hours to explain the methods well enough in a blog post to enable people to have much success with them, especially beginners. Therefore it would be irresponsible to just throw out a basic bullet point list of some methods, when I know it takes a lot of intuition and experience to fully master them. Trading is a journey, you can’t just hit the ground running even with a time-tested strategy like my Lay The Draw method.
I document some (not all) of my trades on my Betfair trading diary, but this is for information and is not any kind of ‘trading advice’. I take NO responsibility for your trades, win or lose! Trading on Betfair is an adult only enterprise, and it is not for the faint-hearted. You can lose a lot of money very quickly, as you can in all trading, and I don’t ask anyone to copy me. But I do hope that publishing my daily trading diary and my methods may help some of the many people out there who are trying to trade on Betfair and not having much success so far. We have ALL been there, and anyone who claims to have been profitable from day one is almost certainly telling porkies.
There are so many systems and strategies to choose from, many costing a fortune yet not worth the paper they’re written on. I don’t claim to have a Holy Grail of my own, but I do think I do pretty well.
I have spent quite a few years trying out methods, and losing a lot of money along the way. I used to use around 10-12 sports trading systems per DAY. Not only was this stressful, but it was also very hard to focus properly. That was when I began to dump those that weren’t working well, and stick to those that were.
Since then my trading improved dramatically. I don’t only trade football on Betfair, I do a fair bit of horse racing too, and also some tennis trading when I can. Many years ago now, back when I was trying out endless different systems I ran approximately £3000 down to £300 in a season. I pretty much gave up at that point. I did some numbers and looked over my diary (I used to keep a book on my desk noting every event and trading decisions/reasons etc) and reading through that suggested I did actually have some success despite the terrible losses. I just needed to find the nuggets in the P&L charts. Keeping records is essential for anybody but especially for beginners, it’s your lifeline. I began to fine tune my approach, sticking mainly with Laying the Draw and a handful of other methods, the safer slower ones really. That saw me grow that £300 bank back up to £800, then £1600 and then eventually £4000 which is when I knew I was finally starting to see signs of a real business developing, and when the pain of losing it finally went away!
One thing I never did in the beginning (but wish I had) is take advantage of the incredibly easy way to build a trading bank of several thousand pounds for free. Bookie bashing, free bet snatching, call it what you like, this is an absolute idiot’s way to take free money out of thin air. The reason I didn’t do it is because I didn’t have the time to organise the approach using spreadsheets etc. I just couldn’t face it, I have never been a great organiser!
But since then a product has come out called Bonus Bagging which takes all of that legwork and hassle out of the process, making it ridiculously simple to cash in on this truly free money. For a full explanation of this superb service which pays for itself over and over again month in, month out, click here. The video will explain all. It’s genuine, I wouldn’t mention it if it wasn’t. And it’s a fantastic way to use other people’s money to begin your trading life, why risk your own money when you don’t have to? This is the biggest “leg up” you will ever get in trading, ignore it at your peril!
All the best for your trading career!