MONEY MAKING POKER TIPS
Money making guide to poker and other online ventures
Betfair is the biggest bet exchange, it allows gamblers to bet at odds set and requested by other punters rather than by a bookmarker. Members can make both 'Back' bets (normal bets on a selection to win) and 'Lay' bets (bets on the opposite side of the Back, against the selection), thereby eliminating the traditional bookmaker.
You will need a Betfair account to make money from Befair trading. For detailed info on how it works and online bonus of £25 click the banner to the left
The idea of Befair trading is to try and “lock in” profit where you make money regardless of the outcome. You can bet on any sport or event but the best one is horse racing because there are plenty of them every day and lots of people betting on them.
The basic idea is to back at higher odds that you lay at ie. if you back £100 at 3 (2 to 1) and lay £150 at 2 (evens) you will profit if the horse wins or not – if the horse wins you will win £200 from the back minus £150 from the lay net profit risk free of £50. Id the horse doesnt win you would make £150 from the lay minus £100 from the back; £50 net profit- win £50 whatever happens.
You can try and work out which horse will increase/decrease in odds manually or as I do use a great program which can do it for you, which taps directly into the Betfair interface which makes the refresh much quicker, its called bet-ie and has made me £’000’s in only a couple of months. It has loads of different features all designed for making money on Betfair
- LEARNING MODE - This is an area that is designed to duplicate the live market, the only thing that is not exact is the liquidity in the marketplace, the odds available are the actual live odds and when a function is selected you can see your exact position. If your a new Betfair user this is an ideal way to learn how the markets operate. We recommend practicing the setups in the Learning mode and when you are happy move on to small stakes. Or maybe you have spotted a strategy of your own and would like to test it before risking capital on the technique, no problem Bet-IE records your position from the live market.
- DUTCHING-When we Dutch we select a group of strongly fancied runners and create our own "book" on these runners, we discard the remaining runners from our calculations and Bet-IE even points out the most likely winners for you of every event! Then you have the ability to Lay Dutch, Place Dutch, Reverse Dutch, aim at a Fixed Stake, aim at a Fixed Profit, Individually enhance our Back Dutch selections or maybe use the unique Ratings and Ratios available only to Bet-IE users to create unique Ratio Dutches
- HEDGING - A technique used in the bookmaking industry to offset large liabilities on runners and now in a couple of clicks of the mouse Bet-IE can enter hedges from your specified data and enable you to take advantage of a very profitable technique especially for in play events
- TRADING - Based around the city principles of trading, Betfair offers you the chance to create these "trades" by offering two opposing sets of odds on the same markets. When money is placed on an event it can force the odds to move one way or another, we can trade on the outcome of the price movement, not the outcome of the event. Bet-IE can even prompt you as to the likely direction of the odds movement and don't forget if your new to this technique you can practice first using the Learning Mode
- TRIGGER BETS - If you are an In Play backer or Layer this devilishly clever function will work wonders for you. Take a position about an event, Back or Lay and specify the odds you want to accept and the stake, then leave Bet-IE to monitor the market and fire a bet in as the odds move to your requirements
- LAYING - We have a number of Lay functions available, we have a Lay Dutcher, we have the three Lay All features, Option 1 is order a Lay for multiple runners at a set price and stake, Option 2 is laying a single or group of horses to a set Liability and finally Option 3 gives us the ability to Lay a single or group of horses and specify an individual liability on each horse
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