Cheltenham Trading Day 2: Fun Fun Fun

Constitution Hill’s jump at the last, a £400,000 bet on Energumene and walls of unmatched cash made day two interesting for sure…

I’d have liked a better result, but I can’t complain – the best days are yet to come.

The races between Cheltenham weren’t as fruitful today. Unlike yesterday, new traders appeared to have settled down (or read yesterday’s blog post!).

Fun Fun Fun

There were two highlights for me today. Firstly, the TV coverage of the Cheltenham Festival. I found it interesting to watch as they spoke bout big bets and speculation that the legendary Tony Bloom was having a gamble. When asked, he said he’d ‘had a few quid on’.

It’s great to see the course layers taking money and gambling actually being shown in a positive light for a change.

The second highlight waited all day to show itself in the ‘lucky last’. It was on the horse Fun Fun Fun, a Willie Mullins runner.

Market pressure showed it to be weak and, coming from the Mullins yard gave me extra faith. But the real opportunity came with timing…

The last race went off late, as do many at the festival. Those final minutes after post time the unmatched money calms down and the genuine flow of bets continues. It’s a great time to get fair-sized orders through the market quickly without having to compete against walls of cash that were there 5 minutes previous. Scalping this setup is ideal, be it directional or not.

If only standard racing had such turnover all year around. 

Things heat up from here on in with the final two days. Hopefully, a good few favourites oblige as this is often good for the marketplace. If there’s one takeaway from this update, it’s to make the most of the late money!

Related: Directional Scalping on Betfair: Low-Risk Trading Strategy?

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