How To Scalp Betfair Markets For Quick Profits
How to Scalp Betfair Markets for Quick Profits
The Betfair Exchange has provided a host of opportunities for individuals who prefer ‘trading’ to ‘betting.’ When you trade, you view the exchange similarly to the stock market. The odds of events continuously rise and fall. Successful traders know when to enter and exit a market for maximum profit and minimal loss.
The process of scalping has become extremely popular amongst traders of all experience levels. In theory, it is a simple process. The goal is to get in and out of trades as fast as possible with a view to making small profits each time. All you need is the market to move a couple of ‘ticks’ in your favour.
For example, you back a horse called Jon’s Dream at odds of 2.60 in the anticipation that his odds will quickly fall. As soon as you get the chance, you place a ‘lay’ bet at odds of 2.56 or 2.58 for a quick and ‘easy’ profit. The problem with scalping is that while it is definitely fast, it isn’t easy. In theory, you can make a small profit dozens of times a day. In practice, you need experience, skill, patience, and, most of all, SOFTWARE!
Proper scalping involves benefiting from a minimal price movement in your favour. Most scalpers are happy to take one or two ticks at a time.
Speed is of the essence.
You should not spend more than 15-20 seconds in any given trade.
Let’s say you are watching Manchester United versus Everton at Old Trafford. United are at odds of 1.84 to win the game and have started promisingly with several attempts on goal. If you notice that the odds on United winning are falling, you can place a £100 back bet on them at 1.84. Within seconds, their price is now 1.82 to back and 1.83 to lay. You now place a lay bet and ‘green up’ your book. You win £1 if United win, but also have a ‘cash out’ option of less than £1.
Moving onto racing and I chose a race to provide an example of scalping in practice.
I put a back bet of £10 a horse called Klopp to win at odds of 3.05. I then placed a lay bet on the same horse at odds of 3.00.
In this instance, my bet was matched within a few seconds. Now, I can make a profit of £0.16 or hope the horse wins and get £0.50, or nothing if he doesn’t win. As a scalper, the plan is to take the money. In this example, £0.16 doesn’t seem like much, but it is a 0.16% return on investment. A £100 bet would have yielded £1.60.
Your first task as a prospective scalper is to determine the right market for you. An increasing number of traders choose horse racing. The level of liquidity is exceptionally high, with prices rising and falling constantly. Knowledgeable scalpers love the last 10 minutes before a race when tens, or even hundreds, of thousands of pounds, are wagered.
However, you can choose any sport where the odds are likely to fluctuate rapidly. Tennis is a prime example, with prices changing depending on who wins a point. Other high scoring games include badminton, volleyball, and basketball.
You also need to decide if you plan to scalp in-play or pre-event. In-play scalping is riskier but offers a higher chance of reward. Scalpers don’t necessarily need in-depth knowledge of a sport, though it is beneficial. Above all else, you need software, or else you have no hope. Your scalping rivals are all using it, so you have no real option. Betfair Bot Manager and Geek’s Toy are two of the most popular choices.
Avoiding the Traps
Don’t walk into these traps:
- Chasing Profits: Successful scalpers take the money and run. Focus on getting 1-2 ticks at a time. If you get greedy, the market could move against you, and a small profit becomes a significant loss.
- No Specialisation: The best scalpers stick to one sport and one or two markets. Stick with markets that have high liquidity. If no one matches your bets, you won’t win!
- Silly Staking: Start with a modest bankroll and implement compounding. As you win more, your stakes can grow accordingly.
Even the best scalpers lose trades. When it happens to you, don’t force the action. Dust yourself off and move on.
Horse Racing Specific Strategies
Horse racing is prime territory for scalping. Here are some handy techniques to try.
Laying in Wait
This technique involves knowing where to enter the market. Check the chart beside the name of the horse and find a price where there isn’t much money in the market right now.
For example, we see that Cold Harbour was last matched at 6.60. The horse’s price is fluctuating, according to the chart. However, there is only £23 waiting to be matched at 6.80. If you believe that Cold Harbour’s price will rise and then fall, you can place £100 at 6.80. That way, your money is at the front of the queue. Your bet stays unmatched until Cold Harbour’s price goes to 6.80.
If and when the price goes to 6.60, you can see if there is money getting eaten up. If it does, you can lay at 6.60, and the bet will likely get matched. Once the odds go to 6.60, your back bet should be quickly filled, and you now have a risk-free bet on Cold Harbour or a cash-out opportunity. If the odds don’t fall in line, and your stakes don’t get matched, cancel them, and wait for another chance.
If the lay bet gets matched but not the back bet, cash out for a small loss ASAP.
When you gain enough experience, you will see that horse odds trade between upper and lower levels. For example, you may find that Cold Harbour’s odds drop to 6.2 and go back up to 7.00 regularly. When the price bounces from the high end, it is called resistance. When it happens on the low end, it is called support.
On occasion, a horse’s price will flip between support and resistance levels for a minute or two. This is a prime opportunity for scalpers as they can back and lay accordingly for fast profits.
The ‘trend is your friend’ in trading. ‘Trending’ is when the low reversal points get even lower, and the high reversal points get higher. Savvy traders can jump in and profit when they see a trend moving in a specific direction.
Football Specific Strategies
Even in play, football markets don’t move as quickly as horse racing does in the final few races before the off. However, there are a few techniques worth considering.
The market often overreacts after a goal is scored. In this situation, you can find opportunities to scalp when a price comes in too far. For example, Newcastle is playing Southampton. The odds for over 2.5 goals are 1.90, and the price for over 3.50 goals is 3.5. Newcastle gets a goal in the eighth minute. Suddenly, the over 3.5 goals price comes into 1.70.
You know that the over 3.5 market is now essentially the over 2.5 market. With so little time played, it is reasonable to suggest that over 3.5 goals will nudge towards 1.80 or thereabouts once the market settles down. You can lay at 1.71 (if available) and cash out when the price rises to 1.80.
This isn’t one for those with an aversion to risk. A goal at any time costs you the full stake. You can scalp on any scoreline, and some traders like to roll the dice on 0-0 after a few minutes when the game settles. It can take a couple of minutes for the price to drop, so it is up to you to decide if the risk is worth it.
Experienced scalpers claim that 2-0 and 3-0 scorelines to the pre-match home favourites are among the best scores to scalp before kick-off.
Half-Time or Full-Time Goals in the Last 10 minutes
During the last 10 minutes before half-time or full-time, the odds of goals tend to fluctuate quicker than earlier in the game. You have the chance to get in and out in a minute for a couple of ticks profit here.
Final Thoughts on Scalping
Remember, scalping is all about speed, timing, and software! I advise you to begin with tiny stakes to get used to the process. Otherwise, you leave yourself open to costly mistakes. Imagine you scalped using a £100 stake and lost it all. You would need 25+ successful trades in a row to break even!
In general, you can achieve 20-30 successful scalps a day. Even at £2 or £3 profit a time, you can earn £50+ in a day. Those who do it full-time often aim for £200+. Professionals can often stake up to £500 or even £1,000 a time!
Jon is the Founder and Chief Tipster at Football Advisor and Predictoloy. He started life as data analyst in the digital marketing field before find his true calling in the world of Football and Horse Racing Betting.
Jon has been sharing his professional expertise since 2009 and specialises in using objective data analysis and subjective experience of betting built up over more than a decade of professional betting.
In 2014, Jon also launched (and continues to run) the trusted Football Advisor service service which provides a variety of football and horse racing betting models and portfolios. A few years later, Jon launched the Predictology platform which is the worlds first betting system builder and analyser covering a wealth of football betting related statistics covering more than 200,000 matches.
Jon has also lent his knowledge and expertise to several of the trusted Premium Services offered by the respected Secret Betting Club, including Football Lay Profits. Racing Bet Profits and, most recently, Racing Lay Profits.