making money on betfair?

j2u

Hi im new enough to betfair and i think there are good ways of making money on it but i want to see what other people do with it.
for example in less than 5 days i was placing lay bets on favourites on the horses not to be placed and i was up from 55 euro to 336 euro.i was extremley pleased with this but in about two days my bank balance had dropped to nothing.i was not doing anything different but still lost all that money.needless to say i was pretty pissed.now i have come back from time to time ,like i got back to 196 euro but again lost it all ,i lost a big bulk on tonights match with taylor.i betted my bank balance on Phil taylor to win when he was 3 sets up,i thought it was a safe bet ,i was of course dreadfully wrong and an absolute idiot to make such a bet.but im wondering does anybody have a steady money making scheme with betfair?i tried some systems i bought on the net but not only are they a rip off they are useless.i was think of placing money on the football against anybody scoring a hat trick but i would have to place 1000 euro just to make a profit of 20 euro so i dont know how safe a bet this is.well any ideas>?

thewools

Thats just stupid...

Never risk so much money for such a return - eventually you will lose!!

I have bet larger amounts but never such a little return - eventually i got busted on a 1/10 shot but worked my bank back up soon after...

Dont DO IT!!!

adrian522

I quite like to lay the draw in the football, wait for the first goal, the odds on the draw should go out a a bit then back the draw,

at that point if it's a draw you make money and if not you lose nothing (if the stake on both bets were the same)

Just hope it's not 0-0.

bobnalong

Has to be the best for betting covers just about anything you can gamble, lower leagues in football in Finland for example.

I'm sorry but you're crazy were you even watching the darts they are not safe bets and bets that are about 1/5 are not worth the risk.

There's lots of betting sites where you can talk about whos injurerd, the weather etc etc if you're interestd in making money thats what you have to do.

You're crazy look at the Spurs game the other day when a hat - trick was scored. Instead of doing bets like that why dont you look up things like corners, card index (I do well in Italian league).

kincsem

It would help if you were an expert on a sport. There is no system that will bring steady returns. If there was a system, people would soon identify it, and the odds would fall and the profits disappear.

I have just downloaded my Betfair and Paddy Power bets from 2003 to 2007. I am going to analyse them in detail. I had 142 bets on PP for a profit of €8,734, and 2,260 bets on Betfair for a profit of €7,496. The reason for the large number of Betfair bets is (I guess) because I bet small amounts at big odds on a number of horses / golfers, and often lay the bets back at lower odds and take a profit. And I ask for big odds for small amounts of money. I'm going to spend time analysing my results, and then cut out the losing sports / type of bets.

Nearly all of my profit comes from a handful of bets -

2003 British Open. Thomas Bjorn each way at 100/1. He was 2nd.
2003 Royal Ascot. Choisir 25/1; Zafeen 10/1. Win singles, and a win double.
2003 Ireland manager. Brian Kerr at 16/1
2004 Greece at 139/1 Euro 2004 (I sold the bet).
2004 Justin Gatlin at 40/1 Olympic 100 metres.
2005 Footstepsinthesand at 19/2 2000 Guineas
2006 Sir Percy at 16/1+ English Derby
2006 Oscar Pereiro Sio at 179/1 Tour de France (he was 2nd but I sold 20% of the bet at 2/1)
2007 Retief Goosen backed at 250/1; 130; 120; 110; 95; 90; 80; 85 in the US Masters golf when eight shots behind the leader. Sold at 2.01/1 when he led with six holes to go. He finished second.
2007 Backed Silver Birch Grand National at 47/1.
2007 Backed Finsceal Beo at 2/1 English 1000 Guineas
2007 Backed Ronaldo at 21/1 to be 2006/7 Premiership top scorer, then backed Drogba to cover.
2007 Laid six horses to not place in the English Derby. The best of them finished 6th. I knew 12 furlongs was too far for them.
2007 Royal Ascot Indian Ink at 17/1 when it started to pour rain. She was suited to soft ground.
2007 Croatia to lead England at half time and full time at 19/1.

I had hundreds of losing bets. But if you back at big odds a few wins will put you in profit. Of course you must have a reason - backing big odds blindly is no use. Backing at below about 2/1 risks your stake for little return. If you have backed at higher odds, you can trade out on Betfair when the price drops, or back the only other likely winner. I could give you a reason why I backed all of the above winners (as I could give you a reason why I backed losers).

I like events that take a lot of time e.g. golf, marathons, cycling, football seasons, horse racing (antepost). You have time to back, and lay.

Backing against England is often profitable. I laid Paula Ratcliff in the 2004 Olympic marathon at 4/6. There was about 35 runners, but she was odds on. She was a large heavy athlete competing against five foot tall, 100 pound athletes, on a hilly course, in high temperatures.

badbrian

adrian522 wrote: »

I quite like to lay the draw in the football, wait for the first goal, the odds on the draw should go out a a bit then back the draw,

at that point if it's a draw you make money and if not you lose nothing (if the stake on both bets were the same)

Just hope it's not 0-0.

I've heard of this before. I can never see how this works.
Take last Sunday Derby vs Blackburn and City vs Liverpool. I can only see both as losers and they represented 20% of the Premiership games.
Apart from the 0-0 problem there's the problem of the weaker side scoring first. I imagine the odds of the draw Derby vs Blackburn last Sunday contracted when Derby scored first.

zuutroy

kincsem wrote: »

There is no system that will bring steady returns. If there was a system, people would soon identify it, and the odds would fall and the profits disappear.

I don't think this is really correct. If your system is well enough researched and implemented then they can work. Last year I trialed a system based on late goals in football matches in the top divisions of the 5 major leagues in Europe. I researched the likelihood of each team scoring or conceding a late goal based on past results and applied a scoring system which decided whether I would bet on that game or not.
If the game qualified, and the odds of either "no next goal" or "betting on the current score to be the final score" were greater than 1.2 after 88 minutes I would bet. BWIN has an up to the second clock for all of these games so it was easy to implement.
The system worked very well through ~150 trials and I had run 100euro up to 1500euro, but in my stupidity I kept it going towards the end of the season where things get crazy (spain killed me), and I included English playoff matches in it. I cashed out then for about 800 notes coz it was the end of the season and I didn't have the patience to do it again this year.

I'd recommend someone to give it a shot, just don't bet 20% of your bankroll eachtime like I did...the losses are just too painful when they happen!

EDIT: The lay the draw system is pants.