Hello everyone, I'm pretty new in this world but for last few months I am looking on exchange and I'm interested in trading on the exchange. I don't like gambling but betting is different, I'm more interested in that "sure bets". I've found something interesting and I think that I can make some profit, but, I need someone experienced to tell me the advantages and disadvantages. I will explain what I think.
I use geeks toy and looking at bet365 pre-race prices. On every race I see odd on bet365 on some horse is 4.5(back bet) and the same horse I can lay on Betfair via geeks toy at price of 2.4(lay bet). Using matched bet calculator on team profit site I see that if I place 10eur on bet365 and lay on Betfair 19.15eur I will have a profit of 8.19eur. In case that I pick a favourite horse who will probably win, I will win at bet365 and if that continues they will limit me fast, so I pick a non-favourite horse and make a profit on exchange and lose at bet365. Everybody happy, bet365 won 10 eur, Betfair has 5% commission on winning and I have a small profit of 8.19eur. If I repeat this few times a day I will make for e.g. 30eur a day and it's good for me since I'm new in this.
What do you think about it? will it work for long term (I'm talking about bets of 10 20 eur per race)? Can someone who has experience with trading/betting give me some advice in which way to go and on what to look. It will be very helpful for me
I use geeks toy and looking at bet365 pre-race prices. On every race I see odd on bet365 on some horse is 4.5(back bet) and the same horse I can lay on Betfair via geeks toy at price of 2.4(lay bet). Using matched bet calculator on team profit site I see that if I place 10eur on bet365 and lay on Betfair 19.15eur I will have a profit of 8.19eur. In case that I pick a favourite horse who will probably win, I will win at bet365 and if that continues they will limit me fast, so I pick a non-favourite horse and make a profit on exchange and lose at bet365. Everybody happy, bet365 won 10 eur, Betfair has 5% commission on winning and I have a small profit of 8.19eur. If I repeat this few times a day I will make for e.g. 30eur a day and it's good for me since I'm new in this.
What do you think about it? will it work for long term (I'm talking about bets of 10 20 eur per race)? Can someone who has experience with trading/betting give me some advice in which way to go and on what to look. It will be very helpful for me