What is Betfair Tennis Trading?
Betfair is a betting exchange. A betting exchange is where traders can place bets against other traders. It is not a traditional bookmaker.
On a betting exchange traders can bet on a player winning. They can also bet against the player winning. This is called a lay bet.
Each player has a price that moves up or down depending on what is happening in the match. This is similar to the stock exchange except that rather than the price changing in response to hundreds of different world events the exchange price moves simply in response to what is happening on court.
By anticipating how the match will progress and therefore how the price will move it is possible to place bets at different prices that result in the trader having profit on both players. A common aim is to have no potential loss regardless of the outcome of the match.
Often the trader will leave themselves with a “free bet” which means they win or lose nothing if one player wins and make a profit if the other player wins.
The main difference between trading and betting is that in betting you make your selection of which player you think will win and leave the bet to run until the match is over. In trading we can change or manage our trades during the match.
Once the trader is experienced in managing trades during the match, trading is much less risky than traditional straight betting.
Why Choose Tennis for Trading on Betfair?
When you first find Betfair and the idea of trading the first thing everyone does is to research which sports are best to trade, right? Of course not! People start off trying to trade on sports they know something about. That is why football is the biggest sport that is bet on or traded on Betfair. Football offers a great variety of markets and anyone with an interest in the sport is likely to find a market they feel comfortable with whether it is match odds, over 2.5 goals or any of the many other options.
When I started on Betfair it was an article by Adam Todd who created Racing Traders that caught my interest and he was trading the horses pre race so that is what I started with. The markets on a weekend were not quite as liquid as during the week so I looked around for other options. Lay the draw on football matches was something that seemed popular but after a short time it was clear that it was all about match selection. I also didn’t like the fact that the market suspended for significant events during the match.
I was interested in the possibilities that trading offered but I wanted something that I could have a little more control over. I felt that football was more like gambling for me. I enjoyed playing most sports but tennis was always a favourite.
Having checked out the Betfair markets there seemed to be tennis matches on every day. There was plenty of money in the tennis markets compared to most other sports so this was the sport I started to research.
Tennis seemed much more manageable. There were a lot more significant events in a tennis match compared to football and no irritating market suspensions.
How do you make money trading tennis on Betfair?
We make money by either backing a player at a high price and laying them when their price moves lower or by laying a player at a low price and backing them when their price moves higher.
With experience we can have a profit on both players so we don’t care who wins!
Do I need trading software such as the Geeks Toy, Bet Angel or BetTrader?
If you had asked me a couple of years ago I would have said that software was essential. As Betfair have improved their website then it is possible to use it to trade. However it has to be said that trading software makes things a LOT easier. You don’t have to pay a lot as tennis trading only requires basic features.
Do I need to spend hours in front of the computer?
Tennis matches can be long. Some traders are obsessed with the idea that they have to trade the whole match. That just isn’t the case. I will often be involved in a match for just a few games. I will have profit on both players so I don’t care who wins.
Is the Trading Guide available in pdf format?
The Guide comes as a password protected website. I do it this way as I am constantly updating the guide and I want to make sure you are using the most up to date version.
Researching tennis matches looks complicated. Do I get help with that?
I put a lot of work into researching the matches before I trade them. Once you have a method of researching them it doesn’t take long. I can help you with this. If you struggle with the research I also have a Trading Tips email service. I research all the day’s matches and email my trading notes to you each day.
Do I need a large trading bank?
While you are learning the system I recommend using very small stakes so you do not need a large bank. You can start with £100.
If I have a bank of £2000 how much can I earn from tennis trading?
This is a very common question. Your ability to profit from the tennis markets is not decided by how much money you have. It depends on how consistently you can use the strategies in the Trading Guide. Initially you should concentrate on achieving that consistency with small stakes. You WILL make mistakes so I makes sense not to let them cost much. Putting the work in with small stakes will help you once you start to SLOWLY increase stake size.
Once you have put the work in to build consistency there is a lot of money to be made. The tennis season runs from January to the end of November so there are plenty of matches during the season and there will be anything from 1 to 5 main tour tournaments on per week.