Daily Result: £799.84
Ah, that's better. Good day's result and puts me back into the green for the month after yesterday's loss. Always nice to get back into winning ways after a heavyish drop.
Made the profit on three events although I actually only traded the 2nd ODI between West Indies and England today. Picked up around £665 on that. Another £115 or so came from the existing green I had from the Roddick v Mathieu match from yesterday. And another £20 or so came from the Kiefer v Djokovic match that I'd left all green a few days ago. Had forgotten about that. And it shows just quite how much rain has interrupted this year's Wimbledon. Think I dipped into that on Sunday or Monday.
Was pleased with the ODI result. Back to winning ways on the cricket. The rain interruptions were a little annoying and cost me a little but on the whole I was happy with how I traded the match. I missed the start of the match but by the time I'd joined the West Indies were off to a good start and although the England price had drifted I was still surprised to see it so short. Seems to be a large weight of money pushing the England price down in these ODI and Twenty20 games and I opposed it today after weighing up the match situation.
I kept the stakes quite small to start with and just enjoyed the Chanderpaul innings. Class. Might have started slow but held the innings together, was on a strike rate of 87.7 by the time he made his century and over 95 by the time he was out for 116. His third wicket partnership of 175 with Samuels was an Edgbaston record and really set the game up for the Windies' victory. After some fantastic acceleration at the end of the innings England were left needing 279 to win. Just one run shy of Australia's record chase at the ground. Never really likely to be made but a goodish start, coupled with weather worries, saw some nice early market movement.
Anyway, the furniture I've been banging on about arrived. And now some of it is going back. Don't expect to pay what I've paid for an oak table that's been damaged and repaired before I get it. Shop was fine about it. Another 5 weeks for delivery though. :-( Sending one of the chairs back too. Everything else was fine though and it looks great.
Looking into tomorrow I've a busy day lined up. House to clean before Emma gets back from China early Friday (and after all the DIY that's a lot to do!), shopping to be done, the small matter of some proper work and, at some stage, I'm hoping to get a look in at the tennis, cricket and darts.
9 comments:
hi, what do you mean (new to this, normal financial futures)by the 'existing green' you had on roddick and the kiefer djokovic match that you'd left 'all green' a few days ago?
thanks
Hi anonymous> I mean I had traded part of each game a few days ago. I think literally one game in the Kiefer match and a set or so in the Roddick match. Both had been interrupted by rain though so rather than keep a check on when they would restart, and knowing I'd probably miss it through other commitments, I levelled my book out so I would win either result. eg. I had around £120 green on Roddick and was £0 on his opponent. Can't remember the exact details so will use rough guides here. Roddick was roughly 1.1. So I layed him at 1.1 for £100 which left me £110 green (profit) Roddick and £100 green his opponent whatever the result of the match.
I mentioned the Roddick position in the last paragraph of this post
As it is I did miss the resumption of the game but given the £100 win either way I wasn't too bothered.
thanks very much for reply, still not 100% what you mean tho ha ha.if you layed roddick and he won (which he did), wouldnt you have lost? or did he lose the set that you layed him?
I'll try again :-)
Let's say my book position was £120 green (in profit) on Roddick and £0 (no profit or liability on Mathieu)
From memory we were a set or so into the match. I doubted I would be able to catch the rest of it whenever it resumed. So I decided to get into the position where I would win whatever the result. (ie, going all green - from the colour Betfair uses to display a profitable position. It used to be black.)
Sticking to the example earlier let's say Roddick's price was 1.1.
I do lay him yes. And this does give me a liability yes. The key is the size of that liability. Laying Roddick at 1.1 for £100 will only cost me £10. Bear in mind 2.0 is evens in digital odds. So 1.1 is 1/10th of 1. A tenth of £100 is £10.
So with my £120 green on Roddick and £0 on Mathieu I layed Roddick at 1.1 for £100. This deducted £10 from my Roddick green leaving me with a £110 win if he won the match. That £100 I layed goes as a credit on the Mathieu side though. Meaning that whatever the outcome of the match I have won either £110 on Roddick, or £100 on Mathieu.
Hope this helps.
yes great i get it now i think, thanks for explaining. so it wasnt really a money making trade, just a 'one cancels the other' as you couldnt watch the rest of it.
thanks for that, one more thing, is it possible to take profit before the end of a tennis match, or football match? i know you can with financial futures but didnt know if it was the same with sport? how would you do it if so?
thank you again
jack
Kind of yes. I'd made the profit in the 30 minutes before hand. Roddick had started the match in the 1.3 range from memory. My profit had come from effectively selling him at 1.3 and buying him lower.
When the rain came I looked at my existing profit which was all on Roddick and simply decided to spread it evenly across the two players. This cost me £10 on the most likely result (A Roddick win) but meant I knew I'd make the £100 either way and didn't have to constantly monitor the weather.
Apologies if you already know this but if you have a Betfair account just open a market, select options, and tick the "Display what if" figure. This will then do all the maths for you and shows you a future position based on any trade you are considering.
No, you can't take the profit before the end of the match. All bets are settled at the end of an event. That is when profits are credited to your account. Any liabilities you are running with during the event are also deducted from your account balance during an event. There is no credit or gearing / leverage facility on Betfair.
It is however possible to ensure you will win whatever the result before the end of an event as we've discussed. You just have to wait to the end, and settlement, to get that money. Good luck.
thank you
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