How To Trade Greyhounds on Betfair: An Easy Greyhound Trading Strategy…
Everyone wants easy money, right? Apparently not.
Knowing what to look at and, what to trust is often the hard part when watching a betting market. Greyhound markets are similar to horse racing in many ways. The main difference is betting volume and when the market comes alive.
Just recently televised coverage has gone through a few changes for the greyhound markets, meaning there’s a bit more interest. And MONEY!
With more money being matched on the races there’s always going to be some added opportunity. Having a look at the schedules on the racing post will help you find the best ones to trade.
I’ve had a little dabble this week of a morning by way of a change, the feel is a little different to past greyhound markets which are quite pleasing, although unfortunately, they’re still not as scalable as the horse racing. On a more positive note, there are nearly twice the amount of greyhound races each day.
Either way, for a couple of quid a race it can be easy money…
Approaching the markets like this will allow you to do the same, but make sure you stick to the criteria!
How To Trade Greyhounds On Betfair: Video Strategy
For anyone who’s not familiar with the concept of trading on Betfair, see the image below;
To achieve the £2.23 on each dog (before the start) there are two bets matched against each other.
Look at the matched bets on the right-hand side of the image.
Profit minus Liability = 2.24
Backers Stake minus Stake = 2.23 (there’s a penny difference as the software could not create an exactly even outcome, due to the odds increments.)
If you didn’t quite get the explanation above the image, here are the actual numbers:
Profit @ £61.60 minus Liability @ £59.36 = £2.24.
Backers Stake @ £24.23 minus Stake @ £22 = £2.23.
That makes sense, right?
Greyhounds Trading Strategy: The Method…
You’ll see I’ve taken this approach within the video above, but a simplistic way of describing the greyhounds trading strategy goes like this:
- Await market liquidity and activity (around 3 minutes before the official race time)
- Identify money falling into the betting market where there is bias in one direction
- Place advantageous back and lay bets well outside of the price so you have an early betting position
- Back, or lay, depending on Betfair momentum as the price nears your already positioned exit bet
Once one side of your greyhound trade is open, it’s then a question of assessing the market momentum in relation to the time before the start of the race. Is it continuing to develop in your favour?
If not, you need to cancel your position by hedging (even if it means a small loss). However, if things are going smoothly – wait for your exit to be matched.
Finally, any hedging or tidying up of your profit or loss position can be done afterwards. The best greyhound models on Betfair leave automated prices outside of the range and continuously do this. As explained in the video, it’s all about that final window of opportunity when liquidity comes.
Warning: The Downside
Quality is always better than quantity (meaning the races on offer).
So although there are thousands of greyhound races each month, you may want to be selective. For example, I find Swindon greyhound markets to be very bleak. There’s money within them, and some potential moves although nothing compared to the likes of Romford or Nottingham. The time of day comes into calculations as well.
Approaching a greyhound market in the wrong manner can end in disaster. Mainly because if you need to exit a position and there’s no money on offer, it’s going to hurt.
Risk management is always the first thing on my mind, which is why the daily horse racing markets are preferable to greyhounds. Learning how to trade the greyhounds markets is a game of patience. Pushing too hard can be painful.
Still confused? There’s also a longer explanation as to how Betfair trading works over HERE