Understanding Sports Trading
When you think about traditional bookmaking, it has been around for more than a century. Punters have been placing many bets on sports since years ago. It was also in the 1900s when online gambling came into the picture, and as is often the case when it comes to technology, it paved the way for the creation of a new way of sports betting. During the 2000s, Betfair was born. This is a betting exchange that facilitated peer-to-peer betting. Because of it, today’s punters can now find some of the best trading platforms to earn a profit.
Through a trading platform, punters could take on the role of the bookmaker if they wanted to. They can set their own prices and wait for their selection to be matched. They also become sports traders. Sports traders are just like stock traders, but instead of buying and selling shares of a company, they instead sell bets on sporting events.
What is Sports Trading?
Sports trading revolves around “backing” and “laying” sports betting odds for a profit before the sporting event comes to an end. When you say backing, this is considered as betting while laying is bookmaking. The aim of sports traders is to lay low and back high. In this way, they can earn profit either in-play or even before the event.
- Do Your Research and Be knowledgeable – When it comes to trading, you must know about the sport and market you have chosen. This will give you an edge against the rest since you’ll know what will help you stay ahead of the curve. This can be being informed about team selection, head to head stats, and injury news, among others.
- Make Use of Back to Lay – This is one of the popular trading strategies, wherein you have to find a horse/team/player to back the price that will latterly fall for many reasons and then laying them at the new price so that you can guarantee a return despite the result. You can often use this in football markets and horse races.
- Laying the Draw – This trading strategy is convenient for sports that have three possible results. By laying the draw, you should pay attention to the price for a draw that is fluctuating based on the action on the pitch.
- Scalping – This strategy will require you to have a considerable bankroll to make price fluctuations and make the market work for you. It is trading minuscule odds movements. You need to have a keen mind if you want this strategy to be successful.
Whichever way you go on about your sports trading strategies, make sure that you know everything regarding the sport and market. You also need to find a trading platform for beginners, especially if you are just starting out.