Life on the punt… Trading betting exchanges

Yep, definitely some opportunities. I sense you know a LOT more about the topic than me, but I gather if ya “doing it right” it’s as tediously boring as stocks and so forth are. By that I mean success is from seeking a good value for money on every wager. So it’s NOT about who you think will win. It’s also NOT about going for the longshot that pays out a motza. It’s about whatever has a reasonable chance but with which you are getting better odds from bookie than are justified (according to your own fallible assessment).

So extremely tedious – all about money management. Never betting more than 2% (cos theres no stop loss in this game ie your stake = your risk).

Churning through lots of bets but choosing high value (odds being offered better than the nag or whatever truly deserves) bets every time – will give you a positive expectancy over time. Also constantly hunting for best odds can give edge.

It’s counterintuitive – the usual social punter either bets for his (or more rarely her) favourite NRL team or whatever, or the one they think will win. Or worst of all the favourite paying $1.05.

What do ya do when you get the likes of a Winx in its last few races? If it lost it would be a punter bloodbath because people would presumably be willing to stake so much because payout % so low on such a favourite when it wins. But then it’s Winx, right? It can’t lose! Well it’s history now. But it could’ve been otherwise.

VALUE and money management. Probably quite a few who wagered on ALP victory learnt the hard way (excluding those who got the early payout by a headline hunting bookie).