Betfair Loophole

Unless you’ve been living under a stone for the last couple of weeks you’ll have heard the story about the guy who has discovered a secret loophole in Betfair’s system that enables you to generate wealth at will. I’ve been bombarded with emails about this “completely new discovery”, so I’m sure you will have too.

I got my copy of this remarkable system the very first day it was released (along with about 1000 others so I understand) and my first impression of it was “surely, SURELY, no-one would have the cheek to release something so pitiful with such a fanfare of publicity”, but the betting system conveyor belt folks from Rochdale Rd, Manchester (I’m sure you know who they are) never seem to let quality control get in the way when there’s a buck to be made out of gullible punters.

The whole sales pitch for Betfair Loophole works along these lines….

What I am about to present to you is the massive loop-hole in Betfair that I have discovered and The System I have perfected to exploit it and generate staggering profits whether you’re a novice or a seasoned Betfair veteran.

…and an impressive sales pitch it is, but like so many of the products they release (on a near weekly basis) they quite obviously put more effort into their advertising spiel than they do with the systems themselves and this has got to be one of the worst examples of that I’ve seen yet.

It’s basically a laying/trading type system and the only new thing about it is that unlike most systems this one concentrates on greyhound racing instead of the more popular sports like horse racing and soccer. That alone should be enough to make the alarm bells ring, because there’s barely enough liquidity on the greyhound markets to warrant betting on them at the best of times, nevermind when 1000 or more people are all trying to get on similar selections.

To give you an idea of what I’m talking about here, the time is currently 13.37, the first greyhound race today is the 13.44 at Sheffield – in 7 minutes time – and do you know how much money has been matched so far? £191! That’s £191 matched between two people (there’s always a backer and a layer on Betfair) so the actual sum bet on this race so far is a mere £95.50.

Fill your boots, eh? That’s 9 and a half pence for every punter!

To make matters worse, the very first screengrab you see on their website shows you a market on Betfair where the account holder is guaranteed a profit of £475 no matter what the result, but get this… it’s for a cricket match… so in no way at all does this relate to the system itself!

There are other things I don’t like about Betfair Loophole, but these are big enough reasons to ensure that this system won’t work, so rather than wasting my time and your’s, I’ll simply say that you should ignore anyone who tries to tell you that there’s a loophole on Betfair.

My advice = save your cash!

Learn More About The Betfair Loophole…

Over at http://betangel-betfair-trader.blogspot.com there is a guy whose plan is to turn a £1000 starting bank into £100,000 this year, simply by trading on Betfair. Although he only started at the beginning of the year, the author, Pinsticker, is already well in profit and is around 12% of the way to his £100,000 target after only eight weeks!

The idea behind the blog is to show you that trading is possible, although not necessarily plain sailing, but with a bit of knowledge, the right tools, and a bit of patience, trading really can become a full time occupation and earn you a full time wage (a very substantial full time wage), all from the comfort of your own home.

Pinsticker fills the blog with screen shots of his Betfair account showing his weekly P&L and there is also one or two screen prints in there of some of the features of Bet Angel Pro which he uses to monitor the markets.

It really is a great little blog and it will be fascinating watching how he gets on with his challenge this year. From what I’ve seen, I don’t think he’ll have too much trouble achieving the £100,000, it may just take a little time.

So, if you fancy seeing what it’s really like to trade on Betfair for a living head on over to http://betangel-betfair-trader.blogspot.com to learn exactly how it’s done.

Ask any punter to name you a betting software product and chances are the words Bet Angel will be the first thing they mention. It’s no surprise really as it’s the most widely known of the betting software available on the market today, but there are other sophisticated trading programs out there to rival it nowadays and undoubtedly one of the best of these is an application called BetTrader.

The creator of BetTrader, Adam Todd, spent five years working as a ‘scalper’ making lots of short term trades on the 10 year German Government Bond Futures Contract and it was this knowledge he used to begin his Betfair trading activities. In the space of three years Adam turned a starting bank of just £200 into the best part of £100,000. Impressive by anyone’s standards!

During this time he set himself the challenge of developing a tool that would make his trading life easier and with the vast amount of knowledge he’d gained as a professional trader, he was perfectly placed to do it.

BetTrader is one of the most popular Betfair betting and trading platforms available today and was actually the first of its kind to offer one click bet submission on all Betfair markets (not a lot of people know that). It was first developed in 2004, but Adam has not rested on his laurels because he has updated it year on year. The latest version has so many useful features that there’s no way I could list them all here, so I’ll give you a brief overview of my favourite functions:

• Once Click Bet Submission
• Live Updating Prices (to 100ths of a sec)
• Ladder Interface (as used in financial trading)
• Hedge Button
• View Multiple Tabbed Markets
• Price Direction Colour Flashes
• Live Hedged P/L

There are so many other cool things this software can do and many of Adam’s customers have actually gone from complete novice to trading guru in a matter of weeks!

I can almost hear you now…. “sounds great Craig, but how much is this gonna cost me to download?” Well, that’s where it gets even better. It will cost you nothing at all to download and start using the basic version.

Obviously, there are costs involved to use the full package, but even these are amongst the most competitive in the market. What Adam has decided to do is to charge you by the minute – much like a pay as you go mobile phone. You can choose from 200 – 2000 minutes and it will cost as little as £4.95 for the 200 minutes and unbelievably only £29.95 for 2000 minutes – that works out at around 1.5p per minute which is superb value for a product of this ability.

For those of you who are likely to use it most days there are other payment options too. You can buy months at a time, the cost for one month is only £39.95 for unlimited use up to £299.95 for 12 months of unlimited use. I really don’t think I can stress how much value Adam is offering here. He’s designed these pricing plans, not only to fit with everyone’s budget, but also with their trading style. If you can only bet at weekends for example, you might only need the 200 minutes, but if you plan to become a full-time trader, you can buy a full year of unlimited use. It’s a flexible pricing structure with an option that should be suitable for everyone.

Personally, I think BetTrader is more user friendly than the likes of Bet Angel Pro, which although a fantastic product, can be a little daunting – especially to those starting out. And if you are just starting out in the wonderful world of trading, BetTrader has something else to help you ‘bed in’…

The big time traders will be trading in units of £100, £200 even £500 and £1000 but when you’re just starting out, you won’t want to be doing that, so you can actually start testing your trades (or your own system ideas) using 1p stakes. Yup, you read that right – just 1 pence stakes! No more of this Betfair £2 minimum, you can learn your trading with the safest possible stakes. It really doesn’t get much better than this!

Actually, it does – for those of you new to trading, or even those just trying BetTrader for the first time, Adam has created a range of videos that show you very clearly how to use the software. There are so many videos that explain everything from simply placing a bet right the way through to some of the more complicated trading practices and literally everything in between.

I know Paul is a big fan of Bet Angel Pro, but personally I can’t praise BetTrader enough. So much thought has gone into this software that, for me, it’s a must-have piece of kit.

Click Here To Try BetTrader For FREE!

But do you know what the real truth of the matter is?

It’s all BOLLOCKS!

Yep, you heard that right. It’s a media fuelled attempt at public scaremongery and if you have any smarts about you, you’ll soon realise why the idea is so darn ludicrous.

You see, in a “recession” property prices flatten out, interest rates increase, the stock markets drop in value and we’re led to believe that we’re all far poorer than we were in the Golden Years that preceded the “crash”. The scary thing about it all isn’t the doom we’re all facing – it’s the fact that the majority of people in the Western World actually believe this media hype and then run about withdrawing their loot from the bank and hiding it under their mattresses!

Well, I’m NOT going to be participating in this “recession” and neither should you.

I’ll tell you why…. for every trader who is holding stock that suddenly loses its value, there’s another who has suddenly made a huge profit. For every homeowner who bought when the prices were high, there’s another who is looking for a property when it’s a buyer’s market. And for those of you who are sitting with cash in the bank, all that’s going to happen is this – the interest rates will go up and you’ll earn MORE money. That’s it, full stop.

So you can spend the next few years worrying about the bad, bad, bad situation we’re in, or you can give yourself a shake and do something to adapt to the current climate, improve your life and make yourself more money. If you slow down, someone else will speed up - that’s life!

The Betfair Blues

And that brings me to Betfair.

This is a website that’s fuelled by buyers and sellers. When a buyer loses, the seller wins. When a seller loses, the buyer wins. That’s how it works. But if you were to pay a visit to their message forum you would find thread after thread from disgruntled punters complaining that “this isn’t the time of year for betting”, “the jockey is a dud”, “the stewards should be shot” and “that race was a fix”. People losing their money everywhere, or so you would think if you read the forum.

What most of these people fail to realise, and probably don’t even contemplate, is that while they’re busily letting off steam about the latest addition to their long list of excuses of why they did their dough again, someone else is sitting back with a large glass of wine and congratulating themselves on a damn good day. And some of these guys are doing it every day!

For every loser, there’s a winner on Betfair – it’s as simple as that.

When you think it through properly, a lot of these people are living in an ongoing “recession” and to a large extent it’s one they’ve created for themselves. Sure, things do happen that are outwith your control from time to time, but if you find yourself always blaming outside elements for your consistent failure on Betfair, then it’s time to change your tactics and learn to adapt.

The way to do that is this:

Working The Betfair Marketplace

The majority of punters land on planet Betfair after using more traditional means of placing their bets. They know how to back, but laying is a new phenomenon and many see it as the Golden Goose, because “hey, I’ve been backing losers for years, so this will be easy!”, but nothing could be further from the truth. Betfair is practically a 0% market, meaning that there is no significant edge at the odds for backers or layers, and while many people have huge runs of luck with lay bets, when the winners do come they have a tendency to burst your bank in some style.

So, until you have….

• A better than average understanding of the form book.
• Solid experience of how to spot contenders with weak profiles.
• The ability to take regular large losses on the chin.
• And a substantial operating bank.

….I wouldn’t even think about jumping straight in as a layer.

There are a lot of very good laying systems and guides available these days, some of which we’ll be reviewing on this website, but whatever you do, please don’t attempt to go it alone.

A much better option – and the method every long-term successful Betfair customer I’ve ever met uses – is to buy and sell prices in much the same way as they do on the stockmarket. What this involves is backing when the odds are high and laying off lower, or vice-versa, and locking in a guaranteed risk-free profit for yourself… often before the event has even started!

I’m sure many of you will have heard of this before, so it might not be a revolutionary idea for you, but for every person I know who has mastered the art of trading there must be another hundred or more who have failed. And the reason for that is quite simple. You must have…

• A proper understanding of how it all works.
• The right kind of tools to do the job correctly.

That’s it, in a nutshell. Trading is a real business, a very lucrative one at that, and you wouldn’t start any other kind of business without thoroughly researching the market, or arming yourself with the equipment to do the job right, so don’t think that trading is any different.

Here is what I’d recommend to help you get started today:

Easy Trader Professional

This is a huge 200+ page course that teaches you everything you need to know to set up and operate your own betting exchange trading business. It covers everything from the basics right through to the advanced strategies that big money Betfair traders use to extract spectacular profits from the exchanges. It’s one of the best courses I’ve seen and very thorough.

Bet Angel Professional

This is THE trading software the professionals use. It’s moulded on similar applications that exist for trading financial markets on the stock market and it comes equipped with a powerful suite of tools for making a living on the betting exchanges. Earlier this week I came across a special offer that allows you to try the full package absolutely free, so you can test it without risk.

If you want to beat the “recession” and create a better life for yourself and your family, then starting a career as a professional betting exchange trader is one of the most fulfilling, easily-operated and profitable businesses you could ever be involved in.

I do it every day and I’d highly recommend it….

Just recently Craig and I attended one of their regional training courses (something you should try and attend when you can) and when it came to the Q&A session at the end of the day most of the people in the room were looking somewhat perplexed, but we got right into it and started hitting the guys with question after question about what plans they had for their website.

One of the things we found particularly interesting was that they plan to get more and more involved in the multiples market, much in the same way as a traditional bookmaker. You can already place doubles, trebles and accumulators on soccer matches, but it hadn’t really occurred to me before that they would even consider this for the horse racing markets. However, that’s the direction they’re moving in apparently.

I always thought that the problem with this would be that you’re betting against other people, not with Betfair directly, so the layer would have to price up your Saturday Yankee themselves, but if you click on the “multiples” link on their site menu you’ll see that this isn’t the case. Betfair have apparently set up a separate company who will handle the multiple bets, so this is pretty much the same as if you were betting with a traditional bookmaker.

(You’ll also notice that the odds that are available on the multiple markets for soccer are lower than those available on the main exchange site for singles, but that’s another story….)

As far as I’m aware, the full multiples system for horse racing is still some way off, but if you visit their “Labs” section (click on “Extras”, then “Betfair Labs”) you can now access something they call the “Race Card Accumulator” and what this does is allow you to select runners from any race on today’s card and place them into accumulator bets.

Here is what the application looks like:

Now, I’m not normally one for fancy bets like this, but what I think it might prove useful for is place only accumulator bets. We’ve been operating one system for a while now that regularly racks up sequences into double figures on the place market – the longest to date has actually been 27 consecutive wins – so the benefits in that kind of situation are obvious.

Here is the link if you want to check it out for yourself….

Betfair’s Race Card Accumulator

I’m not for one second going to suggest that you should abandon your current backing, laying or trading activities in preference for multiple betting, but this is an interesting move by Betfair and it might well open up further opportunities for us in the near future. I’ll keep you informed if I learn anything new, or if I hit the jackpot with one of those place only accumulators….

One of the reasons Betfair has become so popular is due to the flexibility it gives to the average punter. Prior to Betfair, punters could only place bets with traditional bookies who priced up events and took bets from Joe Public. Then Betfair arrived and turned the tables giving Joe Public the chance to take those bets himself (lay), and also set his own odds. It’s even possible to price up a whole race (although unlikely you’ll get it priced entirely in your favour). The other attraction of Betfair is that prices tend to be higher than those offered by traditional bookies and this has obvious benefits to the backer.

Betfair claims to offer, on average, 20% better prices than traditional bookies and, for the most part, this holds some water. However, there are plenty instances when backing a selection on Betfair isn’t the cash cow they’d have you believe. Much of Betfair’s income is generated by them charging you a commission on your winning bets – a sort of thank you to them for acting as the middle man between backers and layers. The maximum you will pay on most markets is 5% and with regular bet placing you will be rewarded a discount on this rate.

What people fail to take into consideration when backing on Betfair, is just what effect this 5% will have on their actual winnings. For example, if you were to back a 2/1 horse at a traditional bookie for £50, your winnings (should the horse win) would be £100. At the same odds on Betfair, your winnings would only be £95 (assuming full 5% comm.) Ah, but remember Betfair’s odds are around 20% higher so I’m 15% better off – or am I?? If you look at almost any Betfair market, you’ll often see that the favourite is trading nowhere near 20% higher than the traditional bookies, in fact, more often than not, the first two or three in the betting will be much closer to standard SP than you might expect.

To prove this point I picked the first race from Bangor on Friday (08/02/08) which clearly shows both the favourite and 3rd favourite have lost any price advantage the punter has over the bookie. Even more so, the last race from Bangor on Friday showed the on-course SP as 3.75 and Betfair’s SP at 3.20….think about that for a minute….for that £50 stake with a traditional bookie you’ll have £187.50 placed back into your mitt (£137.50 winnings plus your £50 stake), however, place that same £50 with Betfair and you’ll only get £160 back! But, I’ve even more bad news for you – that £160 is now subject to Betfair’s cut, so you’re only actually going to get back £154.50. Thats a difference of £33! You have effectively just thrown away £33.00!

Now, I’m not for a second suggesting that this will happen with every favourite. In fact on many of them you will be better off backing on Betfair, however, to make the most from your betting, you must be prepared to shop around for the best prices, and never ever assume that Betfair is automatically the best site to place your wager.

So, next time you’re about to put your money where your mouth is – bear that £33 in mind. It could be the difference between a profit and a loss on any given day!

The Perfect Primer For Trading On The Betting Exchanges

Getting to grips with using Betfair can be a bit daunting at first if your only experience of placing a bet before has been in a traditional bookmaker’s shop, or even on one of the online bookmaker sites. Everything about Betfair is different to what you’ll have been used to and even the terminology can take a while to understand when you’re new to it. However, help is now at hand…

Gavin Mountford, the guy behind LayTheOdds, has put together a FREE 58 page betting exchange training course and for a free guide I’ve got to say that it isn’t too bad at all. He covers all of the basics to get you started on Betfair as quickly as possible, but he also explains different types of betting and trading techniques for you to use on the exchanges too.

Here’s a quick itinerary of what’s covered in the course:

I’m not going to suggest to you that this is the “be all and end all” of successful betting exchange trading, but it’s a worthwhile read if you’re new to the game – and of course, the price is right - so you’ve got nothing to lose and everything to gain by downloading your copy.

You Can Download Your Copy Here!