From my experience, and many others, these are 3 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.
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.
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.
Caan Berry’s Pre-Race Trading Guide
As a professional trader since 2011, and as someone who documented his early struggles online through his blog, Caan has built up a strong reputation as a great go-to resource for anybody just starting out. His Pre-Race Trading Guide provides all the essential information newcomers need to know.
This is a perfect start if you just want to focus on trading the horses pre-off on Betfair, it covers all of the basics in terms of trading set-up, psychology, market dynamics, software and market participants. I found this incredibly useful as it filled in many of the gaps in my knowledge that I hadn’t even discovered even after a few months of my journey beginning.
Have you read any of these – if so, what did you make of them? Comment below!