Cheltenham Festival: Tips for profitable trading on the Betfair Exchange

• How to trade on the Betfair Exchange at Cheltenham Part Two

• Peter reveals why you can profit without picking winners

• Read how Peter won on every race at the 2024 Cheltenham Festival

• Check out our 2025 Cheltenham Festival HUB

• Get a completely free bet every day of the Cheltenham Festival with Betfair

• Gamble responsibly with Betfair during the 2025 Cheltenham Festival

In a previous article, I explained how I'd managed to win when betting on every race at the Cheltenham Festival. Naturally, people are intrigued by that and how it was achieved.

The good thing is that everything I've learned and shared about Betfair trading is publicly available. There's also a whole community on the Bet Angel forum where like-minded traders share their experiences, so you're never alone in your learning journey.

Effective trading is all about understanding the market's characteristics and making sure you're prepared when those opportunities arise.

So, what sort of thing are we looking for at Cheltenham?

How to trade competitive Cheltenham handicap markets

When I look at competitive handicaps, the odds usually stick within a narrow price range. There is so much uncertainty in these races that the odds generally don't move that far in either direction from the early to the late market.

The key is not to expect large price movements. In these markets, I use a strategy of trading for small gains. As the odds move up or down slightly, I aim for small profits as frequently as I can. I stop the trade if the market breaks out of the current range.

Most people in the Betfair trading community recognise this as scalping, which involves taking advantage of small price movements in the odds.

How to trade shorter price markets

When trading in shorter-priced markets, I adjust my approach. When you get a favourite at around evens, the market tends to have a broader range of traded odds on the Exchange. The market is also more opinionated.

These markets are not suitable for nipping in and out with quick trades. They have a tendency to trend. Backers or layers emerge at these prices and tend to have an opinion on whether the favourite is the right price or not, and the prices will move to reflect that.

You need to analyse the money being matched and look for clues about which direction the market will take. If you see money backing the favourite, you can look to make a profit by backing it at a higher price and laying it off at a lower price.

Understanding how people are betting is key with these types of markets. You follow that trend, but trade out to lock in a profit before the race has started.

Why watching races makes all the difference

How people are betting can help you profit from activity on the Betfair Exchange. But how to anticipate that?

Sometimes, it is self-evident. On Gold Cup day in 2022, Vauban got the Friday off to a good start for Willie Mullins. Therefore, in the next race, the Mullins horse State Man started to receive some backing.

State Man went on to win, and that meant the betting market turned its attention to the next race and the next Mullins horse, Minella Cocooner.

Opening at 12.523/2, its odds started to crash in. Mullins would go on to land a five-timer on this day, and each runner was backed off the boards each time.

Remember that your job when trading for Betfair isn't to determine the correct price or if the market is being logical. It's just to anticipate what it's about to do.

That was very easy to do in this case, and I got a great result on the day just by following people backing the Mullins horses.

Betfair trading needn't be complicated

The beauty of Betfair trading is that you can secure a profit before the race starts. By focusing on market trends and actively managing your position, you remove the reliance on the actual race outcome - your profits come from market movement, not from picking winners.

Trading successfully isn't about making complex predictions. Instead, it is about recognising patterns, understanding market psychology, and reacting quickly to opportunities. Some strategies can work for you whether you're new to trading or an experienced bettor.

With Bet Angel, you can access powerful tools to analyse market behaviour, automate strategies, and execute trades efficiently. The right tools give you an edge over others, allowing you to act precisely and confidently.

If you're ready to start trading smarter, download the Bet Angel free trial today and take your first step into the world of profitable Betfair trading.

Now read Cheltenham Festival: How I won on every single race in 2024