Betfair Official Blog

Betting on Binaries

After triumphing on the spreads, our ingénue now turns to binaries...

Today's Lesson Learnt: Binary Betting is like tossing a coin. Only more exciting, and without the queen's involvement.

After triumphantly slaying the world of spreads last week with a massive £45 win, I am now going to take the short trip to the Tradefair Binaries home page and see if I can turn my money into, well more money. Its only a short journey, but I pack a hip-flask of ginger beer and some jam sandwiches for the way, just in case.

First on my itinerary is learning how binaries work and how to use them. It looks very much like Betfair but the back and lay seem to have changed their names! Like Prince. Or Heather Mills-McCartney. So I am now 'buying' or 'selling' - well that makes more sense since I am a proper trader now. It all appears pretty simple, even for someone like me who failed their PE GSCE because they couldn't spell it.

Anyway, time is money as the founder of Rolex used to say, and I've got £45 to invest. After having a slight altercation with Brent Crude Oil a couple of weeks ago, I've decided to stay well-clear of anything so abstract. Besides, where do these jokers get their prices? I walked into Morrisons the other day and snapped up some vegetable oil for 98p a litre. Instead, I'm going to get involved in the old FTSE.

The 11-12 am price to buy is 63.2% So that means there is a much bigger chance of it going up and a lower chance of it going down. Easy! Well I like tossing coins and if going up is heads and down is tails, then it would appear that there is a 63.2 % chance if it landing on heads. This coin seems as weighted as Vanessa Feltz. I opt for the no-brainer and call heads!

I have a 40 minute wait till to see what side the coin has landed. Up it is!!!! A nice profit for my troubles - which was actually no trouble for me at all. I'm not even going to be troubled by the tax man!

Nothing wrong with that
x Mickey