I've been dabbling with Betfair recently and looking for arbitrage opportunities etc. I've managed to "lock in" profit on several football matches and the weekend's golf. Only managed a couple of quid here and there, but it's all profit.

Does anyone else use these seriously or semi-seriously and have any tips on bankroll management, laying systems, good markets for arbritage, hedging etc.

I'm only using a small bank at the moment and probably have a high risk of ruin, but I'm still learning.

Not much help to you but I am also interested.

I think for arbritage betting you need an immense bankroll.

A good arb will usually return around 3% tops (higher return ones will come around but not that frequently) so unless you are betting £1000's a time it's barely worth bothering.

An interesting bet I read about recently was that 1 bookie was offering 6-1 that Australia would score less than 250 against Scotland. This was just throwing EV at you since clearly if Scotland had batted 1st they would have made under 250 and Australia would have scores 1 more so I guess you were getting 6-1 on a 2-1 shot.

Also I saw couple weeks ago (This opportunity may still exist) a arb along the lines of 1 English bookmaker offering 5/4 that Mourinho is in charge at the beginning of next season (Aug-Sep) and 1 offering 5/4 that he isn't in charge by December. Clearly here an investment of 8 units guarantees you a return of 9 units and with some overlap.
However say you have a limited bankroll and put aside £1000 for this to gain £125 over several months you would probably be better off playing poker with it.

I've mainly been looking for changing markets and laying low, backing high. I'm a big football fan so I feel that I can predict how a game is going and like I said I've been successful in the few games I've traded on.

I'd also read in a betting mag that it is good value to lay Tiger Woods in golf tournaments because he is always such a short priced favorite so you have little liability if he wins, but can lock in profit if he has a bad round and his odds shoot up. I watched the market and it was up and down virtually shot by shot. I backed and layed him several times and locked in a few quid.

I know it could just be beginners luck, but wondered how many people actually make regular money on Betfair.

I've also been monitoring a football laying system that I heard about. It is very low risk, but the reward seems low as well compared to the time you have to spend on it. You basically law the draw and back 0-0 to cover your liability. As soon as a goal gos in the odds for the draw shoot up and you can then back it to lock in a small profit. Thing is you have to be totally on the ball to react as soon as a goal is scored.

It's just a bit of fun at the moment to see if can build a bank on there.

Nice bet

I'll let you know how this laying the draw system goes. I've done a bit more research on it and it seems that best games to do it on are those with closely matched teams (low initial draw odds = low liability). Also the time of the first goal matters as well. If the first goal is scored in the 1st minute, then the odds for the draw don't change much - it ends up being break even. However if the goal is scored in 80th minute the odds for the draw go through the roof and you can lock in profit easily.

I've paper tested it on a few games and it seems to work, I'm gonna try it this weekend on some internationals.

I know - I can't believe how bad England are. I even layed them on Betfair with 30 minutes left!!!

I'm a Boro fan, so I knew exactly what to expect from McClaren. Always cagey from the start (against any opposition) and hopes to nick a goal then sit on the lead. Very defensively minded and very dull to watch.

Originally Posted by placidcasual345

edit: btw meldon, i wasn't too impressed with the album dude! bit slow!

No worries mate, I've got quite in to it and just thought it may be your type of thing. I'm still enjoying the SFA's though. Guerilla is getting a lot of plays.