I recently had a conversation with the BetInfo24 guys and they were very kind and asked me to do some guest blog posts which introduce a couple of really quick an easy ways for people to get used to Betfair and looking into stats, so today I have got a quick and easy way to get started on the horse racing trading and hopefully some parameters to help people follow it…
About ten minutes before the off check to see if there is a clear favorite up to the odds of 4.0, it has to be one point lower than the next horse e.g. if the horse which is second favorite it 3.5 then the favorite must be 2.5.
You are now about 7/8 minutes before the off which is the perfect time because the money will start to come flooding in, now click the graph of the favorite horse, if the horse is getting heavily backed and the right hand side of the graph and only that side of the graph because that is the recent activity, if the graph is moving downward so this indicates to BACK this horse the price will then keep dropping and you can steal a few ticks. If the horse is going upward then you LAY this horse.
There are 3 BACK prices and 3 LAY prices in a row opposite the name of the favorite horse on the Betfair Exchange market. The BACK line displays the prices the punters are willing to LAY the horse at to the amounts of money shown. The LAY line displays the prices the punters are willing to BACK the horse at for the amounts of money shown. The WOM (weight of money) represents the total of all 3 amounts on the BACK line added together compared to the total of all 3 amounts of money on the LAY line. If there is a greater total amount of money on the BACK line then more punters want to LAY the horse than back it. This results in the horse’s odds drifting. If there is a greater total amount of money on the LAY line then more punters want to BACK the horse than LAY it. This results in the horse’s odds shortening.
The bigger the difference in the WOM on one side over the other the greater the likelihood of a price movement for the horse. If the total amounts of money on the BACK line and the LAY line are fairly equal then the horse’s odds are not likely to move in either direction.
When the odds on Betfair are below 3.0 the price movements are in degrees of .02
Eg 2.5 – 2.52 – 2.54
When the odds on Betfair are 3.0 or above the price movements are in degrees of .05
Eg 3.0 – 3.05 – 3.1
Hopefully this might help some newer traders get started in the markets as I know it can be very tricky to start when you want to Betfair trade! Any questions leave a comment below