04 Head-to-Head markets : HID Betfair Education

Introduction

Wed, 19 Mar 2008 11:16:18 +0000

The beauty of Betfair is that there is such a wide variety of markets. Horse races can have more than 20 runners, whereas sports like basketball or tennis come down to just two options in the match odds or handicap markets. Some markets will trade millions, others just a few thousand. Profits can be made of all of them, but you have to treat different markets accordingly.

Look on both sides for value

Wed, 19 Mar 2008 11:05:38 +0000

First thing you need to understand is how they markets operate - what makes them different from markets with many more options? Head-to-head markets can also be called binary markets, meaning they could just as easily be listed as 'Will Player X win? Yes/No'. So in theory, the back price of one selection should equate to the same price laying the opponent.

Those who look for more, get more

Wed, 19 Mar 2008 10:47:30 +0000

So in both cases in the illustrated example in the previous article, laying provides a better price. It doesn't always work that way, it's just that most Betfair customers stick to what they know - only betting on something to happen (backing) and only taking what they can see on the screen.

Patience is a virtue

Wed, 19 Mar 2008 10:45:34 +0000

When trading a market, if the largest bet size on the screen is only £50, putting up an offer of £500 will most likely scare punters away, or draw in small punters with £2 offers just in front of you - capitalising on your knowledge, because obviously the big money means you've done your homework.