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The 2 Best Betfair Sports Trading Books for Newbies

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These are 2 of the best reads to get you started on your Betfair Sports Trading journey. They all cover the basics of what you need to know when starting out and will help you familiarise yourself with the terminology used by traders. Without doubt, these provide new traders with good grounding for going forward.

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Mastering Betfair: How to Make Serious Money Trading Betting Exchanges – Pete Nordsted

Essential reading for anyone serious about making money from Sports Trading. Taking you through low-risk strategies that can be used by anyone to profit from the markets, Pete Nordsted also teaches about the discipline needed to be a successful trader.

This book first takes you through the basics such as the hardware and software requirements, then the trading process, then money management, managing risk, trading psychology and finally a few strategies. Whereas Wayne Bailey’s book (discussed below) only touches on the psychology of trading, Pete Nordsted has a whole section of the book dedicated to it. Remember, trading is 80% psychology and 20% the actual skill of trading.

‘Mastering Betfair’ is for the aspiring trader who wants to keep a level head in and amongst the rush of the markets. Informative and methodical in its approach to teaching the reader the basics of mastering betting exchanges, it is a must-read for those just starting out on their journey.[/vc_column_text][vc_single_image image=”1586″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”custom_link” img_link_target=”_blank” link=”http://amzn.to/2weZwvg”][ult_dualbutton btn_border_style=”solid” button1_text=”Buy from Amazon” icon_link=”url:http%3A%2F%2Famzn.to%2F2weZwvg||target:%20_blank|” btn1_background_color=”#eaca7a” btn1_bghovercolor=”#eabd4b” icon=”Defaults-shopping-cart” icon_align=”right” button2_text=”Buy from iBooks” btn_icon_link=”url:https%3A%2F%2Fgeo.itunes.apple.com%2Fgb%2Fbook%2Fmastering-betfair%2Fid388624679%3Fmt%3D11||target:%20_blank|” btn2_background_color=”#ffffff” btn2_bghovercolor=”#f1eafc” btn_icon=”Defaults-book” divider_text=”Or” btn_border_radius=”1″][vc_column_text]

Sports Trading on Betfair: Profitable Betting Exchange Systems for Trading on Betfair and Betdaq – Wayne Bailey

Perfect for those new to Sports Trading, Wayne Bailey’s ‘Sports Trading on Betfair’ provides the reader with an overview of the dynamics of a Betting Exchange such as odds movement and how and why the prices move. Included are some strategies Wayne uses to profit from the Football and Horse Racing markets himself.

As the first book on Sports Trading I ever purchased this gave me a good grounding in understanding just how Betting Exchanges like Betfair worked. I bought it in 2014 just as I was dipping my toe into matched betting as I became obsessed with the idea of making a second income from the online betting industry.

I had only actually started gambling, as a mug punter, 3 months before happening upon matched betting but the idea of sports trading intrigued me. Wayne Bailey’s book gives a good understanding about what it takes to become a professional sports trader and is written in a way so that anyone new to the exchanges will understand it easily, despite it being full of related terminology that may be new to some.

This book laid the ground for a lot of the knowledge I now know about trading and is a great beginners guide for an introduction to life in the markets. Terminology and the varying aspects of trading are all explained very clearly and in a straightforward manner. Put simply, this is a must-read for anyone new to sports trading and will give you the edge over anyone trying to figure it out for themselves.[/vc_column_text][vc_single_image image=”1584″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”custom_link” img_link_target=”_blank” link=”http://amzn.to/2wsxXxU”][ult_dualbutton btn_border_style=”solid” button1_text=”Buy from Amazon” icon_link=”url:http%3A%2F%2Famzn.to%2F2wsxXxU||target:%20_blank|” btn1_background_color=”#eaca7a” btn1_bghovercolor=”#eabd4b” icon=”Defaults-shopping-cart” icon_align=”right” button2_text=”Buy from iBooks” btn_icon_link=”url:https%3A%2F%2Fgeo.itunes.apple.com%2Fgb%2Fbook%2Fsports-trading-on-betfair%2Fid1031894743%3Fmt%3D11%26at%3D1000lybC||target:%20_blank|” btn2_background_color=”#ffffff” btn2_bghovercolor=”#f1eafc” btn_icon=”Defaults-book” divider_text=”Or” btn_border_radius=”1″][/vc_column][vc_column width=”1/3″][vc_widget_sidebar sidebar_id=”gp-horse-racing-sidebar”][/vc_column][/vc_row]

 
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Matched Betting

OddsMonkey Challenge: Week 2 Summary – £97.21 Profit

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Hi guys,

Just a quick update this week as I’m out and about and writing this while on the road.

Slow Goings, But a Profit Nonetheless

Friday 15th to Friday 22nd of September was a  slightly slow week, but I’ve been able to do 6 sign ups in total and this has generated most of my profits for the past 7 days. I’ve had no luck with casino offers though and haven’t won a single penny. However, as I always say with Casino it’s about playing the longer term game and you can’t look at results on a daily or weekly basis. I don’t even recommend looking at them on a monthly basis but I’ve set myself this challenge and I’m just hoping that variance is on my side over the next 2 weeks.

My profit for the week was only £97.21.

  • Week 1’s profit: £398.06
  • + Week 2’s profit: £97.21
  • Total Profit so far: £495.27
[/vc_column_text][vc_single_image image=”2624″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_btn title=”Get Your Free Trial with OddsMonkey” style=”3d” color=”warning” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-mouse-pointer” button_block=”true” add_icon=”true” link=”url:http%3A%2F%2Fwww.sportstradingtools.co.uk%2Foddsm||target:%20_blank|”][/vc_column_inner][/vc_row_inner][vc_column_text]Ps. You can follow my daily progress on Twitter.

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Categories
Matched Betting

OddsMonkey Challenge: Week 1 Summary – £394.81 Profit

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Wow. Where to begin? What a week! 4 days into the challenge I was starting to become concerned that I was already going to have to admit defeat in reaching the challenge target of £1,500 in 4 Weeks.

Things started off steady as I began following my Week 1 plan (outlined here in my OddsMonkey Challenge Preview blog) on Friday 8th of September. However, the major issue in the first weekend was most of my bets were winning into the bookmakers! Even a number of my free bets, which are best used at odds above 5.0, were winning into the bookies. This almost completely wiped out my Smarkets bankroll.[/vc_column_text][vc_btn title=”Get Your Free Trial with OddsMonkey” style=”3d” color=”warning” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-mouse-pointer” button_block=”true” add_icon=”true” link=”url:http%3A%2F%2Fwww.sportstradingtools.co.uk%2Foddsm||target:%20_blank|”][vc_message color=”info”]Top Tip: One of my plans was to use combined liability when laying my free bets on Smarkets. For example, backing multiple outcomes in the same market – such as spreading your risk across a number of Correct Scores.

This improves cash flow as it means your liability gets shared between all the outcomes you’ve layed. I didn’t actually get to use this strategy, but it is a very useful thing to do if you have a large enough bank.[/vc_message][vc_column_text]The biggest nuisances were Hobro scoring a winning goal in the dying minutes and Metz somehow scoring against PSG (both on Friday), then Watford (who were 5.80!) securing all 3 points vs Southampton with two absolute wonder strikes on the Saturday. Then to top off a bad weekend, Lee-Chung Yong’s ill-advised back pass 3 minutes into the Burnley vs Crystal Palace game on Sunday meant that my Burnley bets also won.

The reason this was such a nuisance is because I’ve given myself such a tight bankroll of £500 and only a short timeframe to achieve this challenge. But with most of my bets winning into the bookies it meant I then had to wait for withdrawals (which usually take 3-4 days to arrive back into my bank account) before I could get going again.

Even though I had made a decent profit from all the sign ups I’d done this meant I would have to wait until Wednesday at least before I had any sort of significant amount that I could put back into Smarkets so I could cover any lay bets for completing new sign ups.

By the end of play on Monday I was £87.81 up. Not bad going considering I was only 4 days into my challenge, but I knew there was a significant speed bump in the road with my lack of bankroll to be able to continue completing the other sign ups I had planned on doing.[/vc_column_text][vc_row_inner][vc_column_inner][vc_single_image image=”2603″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][/vc_column_inner][/vc_row_inner][vc_column_text]

The Bit of Luck I Needed

[/vc_column_text][vc_single_image image=”2604″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_column_text]However, late on Monday whilst I was having a check of the daily calendar on OddsMonkey, I realised there was a decent Bingo offer on at William Hill. I didn’t want to start doing Casino or Bingo offers in my first week – it wasn’t part of the plan. But in desperation I felt I had to try something whilst I waited for the withdrawals to hit my bank account. This offer was Wager £10 on the Twinkle slot through Bingo and get £5 free with 10x Wagering Requirements. This is a decent offer that could be repeated each day from Sunday to Thursday (unfortunately I had missed the Sunday).[/vc_column_text][vc_single_image image=”2605″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_column_text]On Monday I was – £7.08, on Tuesday I finished wagering with £9 profit but on Wednesday I hit a fairly big win and finished wagering with £92.20 profit. Thank f**k! On Thursday I ended up -£11.78 (I overstaked, oops!). You can see a screenshot of the decent win from Wednesday below:[/vc_column_text][vc_single_image image=”2606″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_column_text]Then there was the Coral offer on Champions League matches on Tuesday and Wednesday… Ah. This was just beautiful. It couldn’t have worked out much better.

I was fully aware walking into this offer and using the following strategy that I could lose £50 and gain absolutely nothing – giving me a real setback in my challenge. But because of my lack of bankroll for Smarkets I was forced into doing the offer using the Advantage Play strategy.[/vc_column_text][vc_raw_js]JTNDc2NyaXB0JTIwdHlwZSUzRCUyN3RleHQlMkZqYXZhc2NyaXB0JTI3JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3bHNtYXJrZXRzLmFkc3J2LmVhY2RuLmNvbSUyRlMuYXNoeCUzRmJ0YWclM0RhXzExNTFiXzMxY18lMjZhZmZpZCUzRDI1NzI2JTI2c2l0ZWlkJTNEMTE1MSUyNmFkaWQlM0QzMSUyNmMlM0QlMjIlMjAlM0UlM0MlMkZzY3JpcHQlM0U=[/vc_raw_js][vc_message color=”info”]

What is Advantage Play?

Advantage Play (or AP) is when the odds of an offer are in your favour mathematically. For example, if a bookie is offering a free bet refund if your selection loses then rather than matching your 1st back bet by laying it on exchange in order to guarantee yourself a profit you would just let it run its course and hope the bet wins.

If the bet does win then awesome – you’re quids in! If it doesn’t then you at least have a 2nd chance to win by placing another bet with the free bet refund. This gives you double the chances of making a profit.[/vc_message][vc_column_text]As this could be done on all 5 Champions League matches involving English teams I could have made a guaranteed profit of around £25-30 by laying the bets off on the exchange – but I would have needed to have had at least £200-250 in my Smarkets exchange to be able to do this. So, I used the Advantage Play strategy outlined above.

Thankfully, out of my all my bets I had some big winners as I placed the following:

  • Tuesday: Liverpool vs Sevilla – Liverpool HT/Draw FT (Placed just after Liverpool went 0-1 behind)
  • Wednesday: Arsenal vs Koln – Arsenal 2-1 and 3-1 Correct Score (Placed at half time when Arsenal were also 0-1 behind)
[/vc_column_text][vc_raw_js]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[/vc_raw_js][vc_column_text]The qualifying cost of these was £50 but these two big winners gave me back £310 meaning I profited by £260 for this offer. Result![/vc_column_text][vc_single_image image=”2607″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_btn title=”Get Your Free Trial with OddsMonkey” style=”3d” color=”warning” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-mouse-pointer” button_block=”true” add_icon=”true” link=”url:http%3A%2F%2Fwww.sportstradingtools.co.uk%2Foddsm||target:%20_blank|”][vc_column_text]

Week 1 Results

By the end of play Thursday my total stood at £394.81. I’m absolutely delighted with this as my first week’s target was £250. This also means my bank now stands at £894.81 (£394.81 profit plus the original £500 starting bank) meaning I can complete more offers during Week 2 and not have to worry about my Exchange bankroll too much.[/vc_column_text][vc_single_image image=”2608″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][vc_column_text]

Week 2 Plans

Throughout Week 2 I plan to continue completing more sign up offers (hopefully results will be kinder to me this time and more of my bets win into Smarkets!). I will also be doing any low-risk or medium risk Casino or Bingo offers that come my way, although I’m prepared for a slight downturn in variance as I admit I got very lucky in my first week! My target for Week 2 is £350 profit.

Ps. You can follow my daily progress on Twitter.

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Matched Betting

OddsMonkey Challenge: £1,500 in 4 Weeks? Preview

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Hi guys! Neal here.

So, I decided to set myself a challenge to earn £1,500 in 4 weeks from Matched Betting with OddsMonkey – a matched betting service I’ve been using for just over a couple of months now.

I’ve used another matched betting service provider since I started, but after using OddsMonkey for my review I genuinely believe it is the best one out there for anybody new to matched betting because of its:

  • Low monthly and yearly subscription cost
  • The amount of awesome matched betting tools it offers means it is great value for money
  • They are a very reliable and reputable service having been in the matched betting industry since 2011

If you want to follow along on my challenge you can sign up for a free trial with OddsMonkey, by clicking the button below:[/vc_column_text][vc_btn title=”Get Your Free Trial with OddsMonkey” style=”3d” color=”warning” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-mouse-pointer” button_block=”true” add_icon=”true” link=”url:http%3A%2F%2Fwww.sportstradingtools.co.uk%2Foddsm||target:%20_blank|”][vc_column_text]

What’s My Background in Matched Betting?

I started matched betting around May 2014 so I’ve been at it a fair while and have made a lot of money from it. It has honestly been one of the most life-changing experiences i‘ve ever had. However, in June 2016 I started focusing my efforts on learning Sports Trading, and as the months went on I found myself less and less inclined to do any matched betting as I became obsessed with learning Sports Trading. (I’m a man and find it very hard to multitask, haha).

This meant that between pretty much November 2016 and now (Sept 2017) I stopped doing matched betting altogether. But now I have a reason to get back into it!

Why Am I Doing This Matched Betting Challenge?

I’m heading away to New Zealand in November and have a need to add to my savings before I land in the country. Whilst I know sports trading is going to take a while longer for me to become consistently profitable I thought I’d go back to matched betting for 4 weeks to make as much money as I can before I head off as it’s where I’m pretty much guaranteed consistent profits.

My Strategy

To be able to achieve £1,500 in the space of just 4 weeks (especially with so many sign ups already done and plenty of gubbings already handed to me) I’m going to have to have a strategy as to how to achieve this.

Here it is in all its (basic) glory:

My Bankroll

First up, I wanted to talk about my bank. I’ve settled on the idea that a £500 bank will be fine. Although this makes me a bit nervous as I’m used to having a much larger bankroll! This is why i‘ve outlined a weekly strategy that can be seen below because, quite simply, I’m going to have to put this bankroll to good use and use it in a strategic manner.

My Tactics and Weekly Strategies

For this challenge, I’ll be using Smarkets for their 2% commission. This will help me make a few pounds extra profit towards my £1,500 target due to the money saved in the 3% difference in commission between Betfair and Smarkets. Every little helps, right?

I’ve already signed up to Smarkets so their offer won’t be including in my sign-up profits, but if you’d like to follow along you can sign up to them and get £10 risk free, here:

Week 1: Bank Building – A Focus on Sign Ups

Target – £250 Profit

I’ve been at Matched Betting for over 3 years now and I’ve signed up to quite a few bookies. But there was a tonne I never done because I took advantage of the repeatedly good value in reload offers provided by the main ones like William Hill, Paddy Power, Bet365 and such.

Because of this I got lazy with doing sign ups, so I still have a load that I can do. I’ve estimated that the ones I have left are worth about £600 – so that still leaves me with £900 to make….

In the first couple of weeks I will be focusing on the smaller sign-up offers such as 188Bet’s Bet £10 get £20 in Free Bets, and 888Sport’s Bet £10, get £30 in Free bets as these will suit my bankroll. For example, I have never done 10Bet’s £200 Sign Up Bonus, but there’s no way I could tackle it in the first week with a £500 bank. I’ll have to wait until late in Week 3 to even think about attempting it as I’ll have to be confident I’ll have enough money in the bankroll to cover the potentially huge rollover.

You can see a full list of the sign ups I’ve already done at the bottom of this post. I’ve also provided a list of the bookies I’m already gubbed by and won’t be able to use for sports offers (although some still allow me to do casino offers).

Week 2 – More Bank Building Through Sign Ups and Introduction of Casino Reload Offers

Target – £350 Profit

This will be more of the same as the first week – doing more sign ups. However, I may start introducing Casino reload offers if any come my way either through being sent promotional emails or if I spot any on the OddsMonkey daily calendar.

Throughout this challenge, I will only be focusing on low-risk and medium-risk offers as this is not the time or place to be trying to ride out the huge variance that comes with high-risk casino offers in a 4-week challenge.

Week 3 – Continued Bank Building, Introduction of Casino Sign Up Offers and Bingo Sign Up Offers, Plus Continuation of Casino Reload Offers

Target – £450 Profit

By this time, I’ll be able to take on some of the larger value sign ups that I have left to do, plus the ones which are a little more difficult due to the rollover wagering requirements stipulated in their T&C’s (for example, Royal Panda’s £100 sign up offer of which the OddsMonkey instructions for can be seen below).[/vc_column_text][vc_row_inner][vc_column_inner][vc_single_image image=”2586″ img_size=”medium” add_caption=”yes” alignment=”center” style=”vc_box_border” onclick=”link_image”][/vc_column_inner][/vc_row_inner][vc_column_text]Week 4 – Completion of Big Value Sign Ups, Continuation of Casino and Bingo Reload Offers and Introduction of Acca Offers

Target – £450 Profit

By this stage, this is where compounding will have hopefully worked its magic and my bankroll should be around the £1500 mark (Consisting of the £500 bankroll and the roughly £1,000 profit I’ll have hopefully have made).

This would allow me to take on the high value sign up offers such as 10Bet’s £200 deposit bonus. I will also continue doing the casino and bingo reload offers whilst also tackling a few Acca Offers (of which I’ve never done too much of before!)

The Rules

Finally, I want to lay down some rules as to what I’m allowed to and not allowed to do. I want to make it clear that I will not be doing offers multiple times through what is known as multi-accounting/gnoming. Because if I was, and I had a large enough bank I’d probably be able to make £1,500 in just over a week.

  • The challenge will run from today (Friday 8th of September until Sunday 8th of October)
  • £500 Bankroll where I cannot overstretch my liability (I have a way of being able to ensure I can make the most of this and I’ll be sharing this tip with you in Week 1’s post)
  • Can only use offers that I find on OddsMonkey’s website or forum
  • No Skrill
  • Must include a variety of offers – Accas, Casino, Sign Ups and Bingo
  • Finally, NO MULTI-ACCOUNTING/GNOMING. I will not be doing any offer more than ONE time with any bookmaker
[/vc_column_text][vc_btn title=”Get Your Free Trial with OddsMonkey” style=”3d” color=”warning” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-mouse-pointer” button_block=”true” add_icon=”true” link=”url:http%3A%2F%2Fwww.sportstradingtools.co.uk%2Foddsm||target:%20_blank|”][vc_row_inner][vc_column_inner width=”1/2″][vc_column_text]Bookies I’ve Already Signed Up To:

  • Coral
  • Betfred
  • Ladbrokes
  • Pokerstars/Betstars
  • Skybet
  • Stan James
  • Sun Bets
  • William Hill
  • Genting
  • Paddy Power
  • Bet365
  • Bwin
  • Grosvenor
  • Smarkets
  • Betdaq
  • Virgin
  • Gala Casino
  • Betway
  • Betsafe
  • BetVictor
[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_column_text]Bookies I’m Gubbed By:

  • Ladbrokes (Just sports)
  • Skybet (Fully gubbed)
  • William Hill (Just sports)
  • Betfair (Just sports)
  • Bet365 (Just sports..I think, rarely used their casino stuff)
  • BetVictor (Fully gubbed)
  • Stan James (Just sports)
  • Paddy Power (Just sports)
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text]Right then, let’s get cracking!

Ps. You can follow my daily progress on Twitter. 

Weekly Blogs:

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