While it’s been around for over a decade, trading has only recently started to gain traction in the sports betting world.
For those that don’t know what sports trading is, professional trader, Caan Berry, explains:
“Sports trading is just like stock trading. Instead of buying and selling shares of company, we buy and sell bets on sporting events. The real beauty of sports trading is that we don’t care who wins or loses the event. Just if the price moves. Because of this, we don’t have to pick winners to be a winner.
A stock traders main aim is to buy low and sell high. The principles are exactly the same in sports, but we lay low and back high. Making a profit, regardless of the result.”
Having only recently started to dabble in it myself using Bet Angel’s practice feature, I hadn’t completed a real trade until today.
It wasn’t planned, either.
On a day with only four games on the slate, pickings in the NBA were slim.
Not one to regularly shy away from potential profit, I looked to Betfair’s NBA Prediction Model for inspiration to find a significant edge on the Clippers money line.
Liking the look of it at $1.93, I backed it ever so slightly.
The Clippers got off to a flier. By the end of the first quarter, they were up 40-21 with their lay price all the way down to $1.15.
As they came out for the second quarter and again started strong, the chance for me to complete my first ever trade stared me right in the face.
Not at the level where I can quickly do the math to determine how much I needed lay to get out with a profit, I quickly found a betting exchange arbitrage and hedging calculator.
After punching in the numbers of my back bet and the current lay price, I was able to figure the lay stake required to walk away with a tidy 69% profit before the game even reached halftime.
In the end, it’s lucky I got out when I did.
The Clippers proceeded to capitulate in the second half to lose 125-118.
That in itself is a lesson learned.
Despite the bet looking like a sure-thing with odds dropping to as low as $1.10, you’re better to exit and leave with the profit than let the bet run in-play.
It’s something that every sports trading content creator has preached in the three or four months I’ve been researching the industry.
While I didn’t enter the market with the intention to trade, the practice certainly helps. The process is simple and will only get easier as the trades pile up.
Still some time away from taking up sports trading regularly, it’s comforting to know the first attempt was a success.
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