Betfair Maverick

Introduction

Welcome to the Betfair Maverick course. This manual will give you all the tools and knowledge you will ever need to make a great second income from Betfair.

Over the course of the next 60 pages or so you will taught a completely new way of trading on Betfair that very few people will ever know about.

The course has been designed so that even a novice can pick it up and start almost immediately.

If you already have a good working knowledge of betting exchanges and trading then you will probably only want to skim read the first couple of modules of this guide and you will be familiar with a lot of the content.

However I wouldn't recommend skipping them altogether as you may find a snippet of information that will help you in your future trading endeavours.

In the first module I am going to explain all about betting exchanges and Betfair in particular.

I will also introduce the concept of trading on a betting exchange.

In the second module I will take you through the Betfair Maverick trading strategy that I have used to great success over the past couple of years.

Finally in the third module I will introduce you to software that will make a big impact on your trading habits as well as showing you how to trade even with a full time job.

Module One

This module is aimed more towards people who have little experience with betting exchanges.

If the notion of trading on a betting exchange is new to you then I would go through this section very thoroughly otherwise the principles in module 2 won't make much sense.

If you are well versed with trading on the betting exchanges I would still skim read this section as you may still find some information of value.

What are Betting Exchanges?

The advent of the betting exchange at the turn of the century has revolutionised the gambling industry.

A betting exchange is simply a platform that allows customers to exchange bets.

Unlike traditional betting where there is a bookmaker who sets the odds and punters who either take the offered odds or walk away, a betting exchange is simply a website where visitors can bet against other visitors on a range of events.

All bets on the exchange have been placed there by users who either want to place a bet in the normal way (back), or offer odds to other punters (lay).

Bets are matched between people with opposing views.

Just as ebay matches up buyers and sellers via the internet, betting exchanges' matches up customers who want to strike a wager.

A betting exchange is a fluid market, much like the stock market, which means that prices (e.g. bet odds) move up and down in real time.

This enables us to trade on the market and take a profit whatever the result.

You never know who you are betting against, your privacy and the confidentiality ofyour bets are maintained by a secure site.

To become a member you simply have to register a debit or credit card and placesome funds into your account.

Once you have done this you can start to use the account straight away.

There are a number of different betting exchanges out there but you do not need to bother signing up to all of them.

I would advise only joining the two biggest; Betfair (http://www.betfair.com) and Betdaq (http://www.betdaq.com).

These two exchanges should offer all the liquidity you will need to get your bets matched at decent prices.

Now of the two Betfair is the most popular by far and later on we are going to look at it in more detail.

But first let's talk about backing and laying in more detail.

Backing and laying

A ‘Back’ bet is a bet on something to happen – a horse to win a race, a football team to win, a person to be evicted from Big Brother etc.

It’s just like the bet you’d regularly place with a traditional bookmaker or tote, or even with your mates.

For example if you back a horse called My Fair Lady at odds of 5/1 for a £10 stake then you would get back £60. (£50 profit and your stake money back.)

If the horse lost you would lose your £10 stake.

A 'Lay' bet is a bet on something not to happen – a horse not to win a race, a team not to win a football match etc.

It might sound new, but you’ve probably been doing it unconsciously for years.

Have you ever had a bet with a mate? It might have been over a game of pool, or on a football match on TV.

Two opposing sides, two opposing opinions. He’s backing his team – if they win, he wins. If they lose, you win – you’ve effectively layed his bet by betting on something not to happen.

Lets get back to our My Fair Lady Example.

If you didn't think the horse would win you could place a lay bet at odds of 5/1 with the same £10 stake.

Now if the horse doesn't win you would win £10 however if the horse won you would have to pay out £50.

Usually when laying your potential liability is higher than your potential profit. This just means to be successful you have to have a higher strike rate.

Quick Guide To Odds

Just in case odds are new to you I will quickly go through them now.

Odds are referred to as the "price" for a horse in a race. The bookmakers set the prices according to what they believe is the horse's chance of winning.

The more likely they think a horse is to win, the "shorter" the horse's price will be. That is to say the smaller the return will be for a punter who backs the horse to win.

For example if a horse is priced at 4/1 then the bookie is saying that if that exact racewas run 5 times that horse would win it once.

Or to put it another way the horse has a 20% chance of winning.

In England the odds are usually present in fractions however on the betting exchanges the odds are in decimals so I will quickly run through the differences now.

British - Fractional Odds

The traditional British way is to describe the odds as a fraction e.g 5/1 or "Five toOne".

When the first figure is higher than the second it is called "odds against". Theamount won will be greater than the original stake.

For example if the odds offered were 5/1 then for every £1 staked you would win £5 profit.

When the first figure is smaller than the second it is called "odds on" and the amount of winnings will be smaller than the stake.

For example if the odds offered were 4/6 then for every £6 staked you would win £4.

Below is an example of an on-line race card using British Odds;

Betting Exchanges - Decimal Odds

Unlike the British fractions the betting exchanges deal in decimals.

The figure quoted is the return a punter receives (including the stake) based on a bet of 1 unit.

To transfer from British odds to European odds simply divide the first number by thesecond number and add 1.

So odds of 5/1 become 6 (5 ÷ 1 + 1 = 6)and odds of 4/6 become 1.67 (4 ÷ 6 + 1 = 1.67)

Below is an example of an on-line race card using European Odds;

Introduction To Betfair

Betfair is by far the biggest betting exchange and it is the one I personally use for trading.

If you haven't yet got an account then follow the instructions below to sign up and claim £20 for free.

How To Sign Up To BetFair and Make £20

Let’s get started. First of all visit BetFair here: www.BetFair.com

You will be taken to the BetFair Homepage. You’ll need to click the JOIN NOW or the OPEN AN ACCOUNT button at the top of the screen. Both take you to the same page:

This will take you to a signup page where you can enter all your details.

*IMPORTANT*

To claim your free £20 you must enter the code HKVKENPGW when it asks for you “Refer and Earn” Box like below:

Navigating The Betfair Screen

Click on the 'Sports' tab indicated below:

This will bring up a list of sports down the left hand side.

To access the horse racing either click on 'Horse Racing - Today's Card' or simply 'Horse Racing'.

The left column will then change to show the upcoming horse races in time order.

When you click on an individual race the race card will appear as below:

Now this may look confusing at first but once you understand it it will seem very straight forward.

The blue half represents the back bets and the pink half is the lay side.

The blue column represents the best odds we can get for backing the horses and the pink side shows us the best prices we can get for laying the horses.

The numbers in bold represents the odds and the lighter numbers underneath represent the amount of money available at that price.

As you can see the current favourite is Woody Waller. If you wanted to back him the best price you can get at the moment is 2.86 and if you wanted to lay him the best price you could get is 2.88.

Let's look at the favourite in more detail:

As I explained before the sums under the odds represent the amount of money available at those odds.

This is known as unmatched money. So the most we could back Woody Waller at odds of 2.86 is £217.

Now lets say we wanted to back him with a £300 stake. We could either take £217 at 2.86 and £83 at 2.84 or we could take £217 at 2.86 and leave an order for £83 at 2.86.

This would simply mean that the numbers would shift to the left. The best available odds to back with would now be 2.84 and the best available odds to lay with would be 2.86.

This is what we mean when we say Betfair is a dynamic market. Just like the stock market the prices are constantly changing.

If we click on the little graph symbol to the left of the horse's name the information box comes up like below:

This shows us what has happened the the price of this horse over the whole period

of betting.

As you can see the odds of Woody Waller started out at 4 and have now moved all the way down to 2.86.

It is this changing in price that enables us to trade on a horse and guarantee ourselves a profit whatever the result.

Introduction To Trading

Now that you understand Betfair and the principles behind backing and laying I will introduce the mechanics of trading.

As we have seen a betting exchange is a dynamic market with horses' odds moving all the time.

The principles of trading on Betfair are the same as the ones for trading on the stock market.

Essentially we are looking to buy low and sell high.

With horse racing this will involve placing BOTH a back AND a lay bet on an individual horse.

To profit we must have backed it at a higher prices than the lay bet we placed.

There are two ways of trading. We can either back first and lay second or lay first and back second.

It all depends on which way the price is moving. If the price is falling we would back first lay second and if the price was rising we would lay first and back second.

The best way to help you understand is by the way of a couple of hypothetical examples.

Lets say the horse My Fair Lady has odds of 6 on Betfair and we think the odds will go down.

We would place a back bet for, say, £100. This means if the horse wins we would win back £500 profit (and get our £100 stake money back) and we would lose £100 if the horse lost.

Now lets say a few minutes later the odds had fallen to 5. We would now place a lay bet of £100.

Taking this bet in isolation if the horse did lose its race we would win £100 and if it went onto win we would lose £400.

So we now have two individual bets:

Bet 1: Horse wins means we win £500 profitHorse loses means we lose £100

Bet 2: Horse wins means we lose £400Horse loses means we win £100 profit

As you can see whatever happens we will not lose money.

If the horse wins we will win £500 on our first bet and lose £400 on our second bet making an overall profit of £100.

If the horse loses we will lose £100 on our first bet and win £100 on our second bet breaking even over all.

Now lets change this example round slightly to see what we would do if we thought the price would rise rather than fall.

OK so the horse My Fair Lady has odds of 6 but this time we think the odds will rise.

So this time we would place a lay bet first for, say, £100. This means if the horse wins we would lose £500 and we would win £100 if the horse lost.

Now lets say a few minutes later the odds had risen to 7. We would now place a back bet of £100.

Taking this bet in isolation if the horse won its race we would win £600 profit (and get our £100 stake money back) and if it lost we would lose £100.

So we now have two individual bets:

Bet 1: Horse wins means we lose £500Horse loses means we win £100 profit

Bet 2: Horse wins means we win £600 profitHorse loses means we lose £100

As you can see whatever happens we will not lose money.

If the horse wins we will lose £500 on our first bet and win £600 on our second bet making an overall profit of £100.

If the horse loses we will win £100 on our first bet and lose £100 on our second bet

breaking even over all.

Remember if we think the odds will go up we lay first and back second and if we think the odds will go down we will back first and lay second.

Steamers and Drifters

The key to trading should now be obvious to you – being able to pick in which direction the odds are going to move.

Once you know how to do that then setting up trades becomes much easier.

One of the main mechanisms for being able to make that estimation is the ability to pick Steamers and Drifters. So what are they?

Steamers – Horses whose odds decrease.Drifters – Horses whose odds increase.

It’s important to note that we are talking about a clear trend over time here.

All horses odds will move up and down a little as people make bets and people match them, but the thing that differentiates a steamer or a drifter is that the move in a particular direction is consistent.

The importance of this should be obvious to you. If you know what direction a set of odds are going to move in and you can guess roughly the extent they will move then it should be easy to set up a winning trade.

Definitions of how much and how quickly a horses odds must change before it is considered a steamer or a drifter differ depending who you ask.

Some people will quote a 40-50% increase or decrease in the last hour before the race, others a percentage change from the starting odds, still others have their own measure based on betting points or changes in percentages.

All of these are valid in their own way, and what you consider a steamer or a drifter is something you will work out over time. For now just be content if you start to spot the patterns and predict the ongoing changes.

Steamers and Drifters are created by public opinion that, on the whole, is a very unscientific method of doing things.

But that same public opinion sets the odds too, so it shouldn’t be scorned too quickly.

Why Do The Odds Change?

Quite simply the odds change due to punters placing bets on a particular horse.

The more money backing a horse the shorter it's odds will go. This indicates that more people think it will win.

Furthermore the shorter the odds go on that horse the more punters will want to back it and the odds fall even further.

Punters will back a horse for a variety of reasons.

Maybe they have conducted some form analysis and believe the horse is the best in the race. Maybe a high profile tipster or racing commentator has picked the horse out as the likely winner. Or maybe the horse simply looks the best in the paddock.

'Risk Free Bet' v 'Greening-Up'

There are 2 different types of trading depending on how you want the profit shared out.

You can either stake accordingly so that you win money on one horse and break even on all the others (called a 'Risk Free Bet') or you can win the same amount on whichever horse wins the race (called a 'Greening-Up').

Our example earlier with My Fair Lady was an example of a 'Risk Free Bet'. Lets take another look at what we did:

Backed at 6 for £100 (Win £500 profit if it wins but lose £100 it it loses)Layed at 5 for £100 (Lose £400 if it wins but win £100 if it loses)

This meant that if the horse won we would win £100 profit (and get our £100 stake money back) and if the horse lost we would break even.

Essentially in this example we have had a free bet on My Fair Lady to win.

However there is still an element of gambling in this example because if the horse loses we don't win any money.

To be a true trader we want to guarantee a profit no matter the result.

To do this we have to alter the stake of a second bet accordingly.

Lets say instead of laying at odds of 5 with a stake of £100 we increased the stake to £120.

The first part of the bet would stay the same:

Backed at 6 for £100 (Win £500 profit if it wins but lose £100 it it loses)But now we lay at 5 with a stake of £120 (Lose £480 if it wins but win £120 if it loses.)

This means we would win £20 profit if the horse won and £20 profit if the horse lost.

This would be represented on Betfair by a green £20 next to each horse's name, hence the term 'Greening-Up'.

As you can see trading this way takes away any element of luck. We can simply take our profit from the race and move on.

What Can Go Wrong – And What To Do When It Does

Now it may not happen on your first trade, or your second or your third, but at some point things are going to move in the wrong direction.

With trading we are still gambling, but instead of gambling on a result we are gambling on a shift in the odds.

If the odds shift in the correct direction we are in a nice position to make a risk free trade and win regardless of how the event itself pans out.

If the odds don’t shift the right way then we can find ourselves in a nasty situation – holding a ticket with no trade in sight.

What do we do in this situation?

First of all, don’t panic.

There has probably been some point in your life where you simply gambled money on an outcome and that is exactly the same situation you were in.

The only thing that has changed is you now know that you could be in a no-lose situation, whereas before you bought a ticket and hoped you would win.

Let’s examine the three things that can go wrong when we attempt to set up a trade.

Number One – The Odds Stay The Same.

Trading is a bet on the odds moving in the direction you anticipate.

Sometimes the odds don’t move at all. There can be a number of reasons for this. There may be no new punters in the market. All the new punters may think the same way leaving the odds the same.

Number Two – The Odds May Change In the Wrong Direction.

It’s possible that the odds will go in completely the opposite direction from what you anticipate.

Again there are numerous reasons that this could occur from. Maybe the horse was fancied before the race but looked out of sorts in the paddock. Maybe there was a last minute change of jockey.

Number Three – The Odds Don’t move Far Enough

You may have got it right and the odds shift in the correct direction, but you need them to shift a certain amount before you can place your winning trade.

Your worst win must be big enough to cover all the money you spend on bets.

Any of the above three scenario’s could occur and leave you stuck with a single ticket for an event, unable to trade out.

Worse still there could be accentuating circumstances which make the movement of the odds irrelevant because they prevent you from betting.

With online gambling this most likely means a computer failure, power outage or telecommunications breakdown.

Regardless of the reason, being in a no-trade situation is not desirable – but it’s also not that uncommon.

This is where it’s important to remember that your first bet should be your ‘best guess’ anyway.

What do I mean by that? When you place your first bet, you should consider it like it would be your only bet – because it just may be.

If you think the most likely result will be a win then place a back bet. If you think the most likely event is a loss then place a lay bet first.

Will this protect you from losing in a no-trade situation? Of course not, but it puts you in the same boat as everyone else – backing the result you think most likely to happen.

When you are stuck without a trade there are two ways to go.

The first is to try and trade to minimize your potential losses, and the second is to sit on your ticket as you had backed the most likely option anyway.

Both have their problems.

If you sit on a ticket you are going all in. Either your bet is right – and you win, or it is wrong, and you lose. In some cases this is the best option, most notably when your result is almost a certainty. Trying to trade out for a smaller loss is something that you need to know well what you are doing to get away with. Experienced traders can make several trades and not only minimize the loss but also turn it into a small gain.

Let's go through this by way of an example with our hypothetical horse My Fair Lady.

Let's say her odds were 5 and we thought they were going to go down. So we place a back bet for £100. So if the horse wins we get £400 profit.

However lets say that the odds didn't go down but instead went up to 5.3 and we decide to trade out for a small loss.

We would place a lay bet for £100 at 5.3. This would mean if the horse wins we would have to pay out £430.

So taking both bets into account if the horse wins we would lose £30 and if the horse loses we would break even.

This will happen at some stage to one of your trades so prepare yourself for it. Don't beat yourself up over it, simple move onto the next race.

How to Place A Bet Under £2

There is a minimum bid of £2 on each bet that you place on Betfair.

For some people who want to test out a strategy that is a little high, particularly if they are making multiple bets.

Here is a priceless little trick that allows you to place bets for less than the minimum amount.

To begin with you are going to place a bet for the minimum amount at odds that no sane person is going to accept.

Here I am placing a bet for Queens Park Rangers to win the league at odds of 1000/1.

In other words, my £2 bet will earn me £2000 pounds if anyone is foolish enough to take it.

Unfortunately they won’t. But once the bet is placed and not backed we can modify it.

So we go to the My Bets button and modify our bet. We are going to change it to £2.01 because we want to place a £0.01 bet.

In order to prevent people jumping the queue the system doesn’t change our existing bet, but it creates a new bet for the balance.

So our original £2.00 bet stands, and there is now a new bet for £0.01.

Note the two different times under the bets.

Now we simply cancel the bet we don’t want by clicking on the red cross beside it and clicking submit and we are left with a single bet of £0.01:

The final stage is to modify that existing bets odds back to something that someone is likely to match.

In this case we choose the best odds currently matched and submit our new amount.

You’ll notice the Bet Status now indicates that our bet has been successfully matched.

We can now no longer make modifications to the amount. Our bet is live and should Rangers get up and win the league we are set to pocket £0.07 of profit.

Now that you understand the principles of trading on Betfair I am going to take you through the Betfair Maverick strategy.

With this strategy you will be able to predict the prices movements of the horses and put together successful trades.

Module 2

This is the most important module in the whole manual. The previous modules have simply been setting the scene, so to speak, but here's where it gets interesting.

In this module I'm going to give you an exact strategy for trading on Betfair which will result in long term profits.

Market Shift Trading v In-Play Trading

A successful trade depends on a shift in the odds and this can happen either across a period of time, before the event starts or during the event itself. I call the former market shift trading and the latter in-play trading.

We have already touched upon market shift trading earlier in this manual. With this type of trading you are closing your trade before the race even begins.

You will have identified a horse whose odds you think will change and you have traded accordingly. As we said before this price change could be down to any of a number of reasons.

In-play trading means you close (and sometimes even open) your trades whilst the event is still running.

This type of trading is most popular with football. For example you would often set up a position before the game kicks off and trade out of your position once a goal has been scored.

This type of trading isn't used as much with horse racing but this is to our advantage as it can be very profitable.

The Betfair Maverick strategy utilises this form of trading. We will open our trades before the race begins and trade out in-running.

In-Play Over Reactions

The secret to success of in-play trading is to capitalise on market over reactions.These over-reactions are what the bookies call “Muppet Mentality”.

Several times I have seen a horse's odds go as low as 1.01 only for it to lose.

Punters will overreact to a whole host of things during a race but the most common

one I have found is when a horse takes the lead.

When a horse hits the front the in-play odds will fall like clockwork. This happens time and time again and presents excellent trading opportunities that 99% of punters miss.

Obviously the biggest shift in odds comes when a horse takes the lead at the end of the race but obviously this is impossible to predict. If it weren't people would be backing winners more often than not.

What we want to do is to predict which horse will lead from the beginning of the race. This allows us to get our trade in early and profit no matter which horses ends up winning.

The Betfair Maverick strategy in a nutshell is to find the horse in the field that is likely to head straight to the front once the race starts. We then back this horse before the race begins and lay it in-running, guaranteeing a profit.

To work out which horse will lead the race at the beginning we need to carry out pace analysis.

Pace Analysis

Pace analysis is very popular in the United States and is regarded as one of the most fundamental aspects of form study. However this side of the pond it is rarely taken into consideration.

Pace analysis is simply predicting how a race will be run and more importantly how each individual horse in the race will run.

Through pace analysis we can determine which horses are more likely to run at the front of the pack, which are likely to be in the middle and which are more likely to be held up at the back.

Already you should be seeing the potential trading opportunities.

If we can determine which horse will lead the race we can then take advantage of regular punters over-betting that horse in-running.

If you've ever watched athletics you will be aware that different athletes approach the same race in different ways.

Some runners tend to be blessed with speed and will happily sit in the middle of the pack till the last bend, where they will then simply try to out sprint the other competitors.

Other athletes are not blessed with a turn of speed and so will try to break the others by leading the race from the beginning.

Paula Radcliffe springs to mind here. She will always lead the race from the start and try to 'break' every other athlete until she's alone in the lead.

Now it may or may not surprise you to learn that horses are very similar in this respect to humans.

Some will prefer to take the early pace whilst others will prefer to sit back and wait. A good jockey will know the preference of his horse and race accordingly.

A classic example here is of Paul Nicholls's outstanding stable mates; Kauto Star and Denman.

Kauto Star is blessed with great natural speed and will usually wait for the last few furlongs in a race and simply out sprint the other horses.

Denman on the other hand is built for stamina and he takes the opposite approach. He will generally lead a race from the start and make himself the target to be overtaken.

How To Determine Pace

OK so now we know what we are looking for we now need to understand the how.

How do we know if a horse will run with a strong pace or not?

Luckily this is not going to involve complicated speed measurements and the Racing Post has done all the hard work for us.

The Racing Post logs the pattern of the race in their 'Comments In Running' section. This is a goldmine of information and from it we can make a good estimate as to how each horse will run.

I'll quickly run through how to check the 'Comments In Running'.

Firstly head over to the Racing Post website (http://www.racingpost.com). You do

not have to register to view the race cards but I would advise you to as there are some sections of the site to have to be logged in to see.

Once the main site has loaded up click on the 'Cards and Results' tab as indicated below:

This will bring up a list of the meetings and races for that day. Simply click on an individual race to see the race card.

Now click on an individual horse and its entire racing history will appear in a new window.

Simply hover your mouse over the 'Race Outcome' column and the comments in running for that race will appear like below:

We can see the comments in running for Over To You Bert in the race on 28th December are:

“pressed leading pair, under pressure from 3f out, weakened well over 1f out”

OK so now we know how to find the comments in running we need to understand exactly what they mean so we can use them to predict the race.

What Do The Comments In Running Mean?

The comments are usually divided into 3 or 4 sentences (depending on the length of the race and the amount of action) separated by commas.

The first sentence describes the very beginning of the race, the last sentence describes the very end of the race and any sentences in-between describe the action during the middle of the race.

For the Betfair Maverick strategy we are only interested in the first 2 sentences. Remember we want to trade out early so we are not interested in what happened at the end of the race.

The first sentence is the most important to us as it reveals exactly what happened from the off. However the second sentence also contains valuable data.

Obviously the longer the horse is leading the race the lower the odds will go and the more profitable our trade will be.

The beginning of the race is often where horses will jockey for position and so a horse running right to the front might not be a front runner at all but rather a horse (and jockey) just trying to get into a good position.

We don't want to try to trade on a horse which sprints to the front then settles into midfield.

So it is for this reason we take into account the first 2 sentences of the comments in running.

What we will do is use a points system that will illustrate to us which horses in the race will likely take the early lead.

The more points a horse has the more likely to is to be a pace setter.

When we look at the past comments we want to note down any horse that races either in the lead or at least close to the front.

I have divided the front of a horse race into the following 3 categories:

1. Pacemakers2. Lead groupers3. Second groupers

We will then assign each horse a pace score based on its previous three runs and this should give us an overall picture of how the race will run.

I believe 3 races to be an adequate number to study to evaluate pace.

If a horse hasn't run up with the pace in either of its last 3 runs then I find it highly unlikely that it will in its next race.

Furthermore to study more than 3 races would break the time constraints of the system. You don't want to spend hours carrying out pace analysis for a single race.

You will see that I have weighted the points system in favour of the most recent race. So that a horse making all in its last race will score more points than if it made all in its 3rd last race.

The points system is as follows:

Last Race Second Last Race Third Last Race

Pacesetters 8 5 3

Lead Groupers 5 3 2

Second Groupers 3 2 1

Remember we carry out this pace analysis for the first two sentences in the 'Comments In Running' only.

Once you have done your pace analysis for the race with these numbers it should give you a better idea of how the race is going to be run by each horse.

How To Apportion Points

As we said previously to apportion points we will look at the Racing Post's comments in running for the past three races.

The one problem to overcome here is that there is quite a varied style of language used to describe the action in a horse race.

Different commentators use different expressions to note essentially the same thing. So for this reason in the lists below I have included all the different types of expressions that can mean the same thing.

The First 'Comments In Running' Sentence

Lets have a look at these groups in a little more detail with regard to the first sentence.

1. Pacemakers – Pacemakers are the horses that set the pace for the race by leading out the rest of the field. A horse that has done this will get the following type of comments in the first sentence:

“Made all”“Made a lot of the running”“Made most”“Made virtually all”“Clear leader”“Early leader”“Disputed lead”“Led to halfway”“Quickly went clear” “Led early”“Led”

2. Lead Groupers – These horses are in the leading group and are just behind the leading horse. Their comments in the first sentence will be:

“Prominent”“Raced prominently”“Close up”“In contention”“Never far away”“In touch”“Up with the leaders”“Up with the pace”“Handily placed”“Handy”“Tracked front”“Tracked leader”“Pressed leader”“With leaders”

3. Second groupers – These horses are usually a length or two behind the lead. They are closer to the front than the back and there will be more horses behind them than in front:

“Chased front”“Chased leader”“Front rank”

If a horse is given any other comment then it means it was not near the front. Other frequent comments you will see are, “held up”, “mid division” and “started slowly”.

Any horse receiving these comments will obviously receive no points.

Now obviously the length of the race will impact on the comments in racing in a big way.

For example in a sprint, say 5 furlongs, its possible that all the horses will be given a comment from one of the 3 sections meaning they were up with the pace from the get go.

Obviously for longer races the number of horses contesting the lead will be fewer as the jockeys are happy to sit at the back or in the middle of the pack.

The Second 'Comments In Running' Sentence

Regarding the second sentence you'll have to decide whether the horse has gained places, lost paces or stayed in the same group.

You'll have to decide if the horse is in one of the front 3 groups and deserves a score or whether the horse is further back and doesn't deserve any points at all.

Obviously if the second sentence contains any of the phrases we looked at for the first sentence then it is easy to determine which group they are in and which score to give them.

However the second sentence may have slightly different language to the first. Three of the most common phrases are:

“Pushed along”“Ridden”“Headway”

If the comments are “pushed along” or “ridden” then this essentially means the horse stayed in the same category they were in for the first sentence.

So if they were in the front group for the first sentence then they are also in the front group for the second sentence and will score the same.

The phrase “headway” is slightly different. It means the horse has moved forwards since its position as denoted by the first sentence but it might not have moved enough for us to give it a higher score.

In this instance I would take a look at the third sentence and make a judgement based on that.

As you can see scoring for the second sentence is slightly more open to judgement than for the first sentence.

This all may sound slightly confusing at first so lets run through an example so you can see the points system in action:

This is the race card of a Novice's Hurdle at Musselburgh.

Let's start with the favourite, Don't Stop Me Now, and check out her last 3 races and the 'Comments In Running' for each one.

We are only interested in the first 2 sentences of each race so we are left with:

“led, pushed along and headed after 4 out”“made all, ridden approaching 2 out”

“led, ridden along and headed 4 out”

In the previous race (on the 29th of December) we can see that the horse “led” straight away and so scores 8 for this. The second sentence contains the phrase “pushed along” which means she retained the lead and for this would score another 8.

The second to last race (on the 28th of November) we can see that the horse “made all” initially which gives an initial pace score of 5. The second sentence contains the phrase “ridden” which means she retained the lead and for this would score another 5.

Finally in the third to last race (on the 31st of October) we can see that the horse “led” again straight away and so scored 3. The second sentence contains the phrase “ridden” which means she retained the lead and for this would score another 3.

These comments give us a very accurate picture of what happened in the races.

In fact this horse was leading the race in each of the 6 sentences and so would have scored the maximum 32 points.

We would now do this procedure for each of the horses in the race.

We then collate all this data in a table as below:

(Note the column 'Pace Score 1' shows the total pace scores of the first sentences of the last 3 runs and the column 'Pace Score 2' shows the total pace scores of the second sentences of the last 3 runs):

Horse Odds Pace Score 1

Pace Score 2 Total

Don't Stop Me Now 11/8 16 16 32

Elzahaan 5/1 8 8 16

Danzatrice 7/1 0 0 0

Just Posh 8/1 8 8 16

King's Maiden 8/1 5 5 10

Naturally Inspired 10/1 5 8 13

Lemon Drizzle 12/1 0 0 0

Wheyaye 16/1 10 6 16

Leith Walk 25/1 5 2 7

Bromley Bay 50/1 5 5 10

Pugnacity 50/1 7 7 14

Claresburn 100/1 5 9 14

Elsies Nook 100/1 8 0 8

Vallani 100/1 3 3 6

Putting all the data in one table makes it easier to compare scores and enables us to build up a quick picture of how we think the race will be run.

Don't Stop Me Now has by far the highest pace total out of all the horses (in fact it has double the pace score of its nearest rival) and it's safe to assume this horse will take the early lead.

That is not to say the favourite will definitely win, but we can assume she will at least take the lead from the beginning.

We would now back this horse before the race and aim to lay it in-running for a nice profit.

Lets just take a quick look at how the race panned out:

As expected our horse went straight to the front and held onto the lead for the

whole race.

The odds for this horse would have tumbled during the race and we could have traded out fr a nice profit.

*PLEASE NOTE*

We are traders rather than gamblers and so we always trade out of a race. In this example we could have held our back bet all the way around and made more money.

However I have found when trading that greed will always come back to haunt you more often than not.

So now we understand what comments to look for and what they mean let's move onto specific examples of this strategy in action.

The Betfair Maverick Strategy In Action

What we are on the lookout for is a race where one horse has a big pace advantage over it's rivals.

We can then assume that this horse will hit the front of the race unopposed and hold the lead long enough for the odds to fall and for us to take a profit.

In the next few pages I am going to run through several different examples of the Betfair Strategy in action.

All these examples come from the same day, Wednesday January 22nd. This is to show you that there are several opportunities every day to use this strategy.

If you are quite risk averse or are just starting out and want to “practice” trading then I would suggest using this strategy on short priced favourites with high pace scores.

If a horse has a high pace score and low odds then it has both the inclination and the ability to hit the front and stay there.

I would start with this type of horse for a couple of reasons.

Firstly and most importantly it has easily the highest strike rate. Like clockwork the favourite will take the lead early on and as the race progresses the odds will fall.

Secondly the favourite always has the most liquidity on Betfair in any race which makes it easier for us to get our bets on.

And finally we are sticking to the rule I mentioned in passing earlier. Our first bet is our “best guess”. By that I mean we are backing a favourite to win the race with the first bet so if we can't trade out we are not really in too bad a position.

This would be in contrast to backing an outsider before the race, as the outsider obviously has less chance of winning.

The example above with Don't Stop Me Now was a classic short priced favourite example.

We had a short priced favourite who had the maximum pace score possible (which was double that of the nearest rival).

This race certainly ticked all the boxes for this strategy and as expected Don't Stop Me Now made all from the off.

You won't always get a favourite that doubles the pace score of the nearest rival but this doesn't need to happen for this strategy to be successful.

For example if there is another horse that has a similar pace score to the favourite but is much lower down in the betting then this strategy will still work.

Let's look at an example of this:

Here the favourite is Harry Up and the Racing Post forecast price is 11/8. During the day the price of the favourite shortened to 4/7 and next horse in the betting was Godfrey Street at 4/1.

Let's take a look at the pace scores of each horse:

Horse SP Pace 1 Pace 2 Pace Total

Harry Up 4/7 13 13 26

Godfrey Street 4/1 6 13 19

Desperate Dan 17/2 0 0 0

First Trim 10/1 1 0 1

Dodaa 14/1 13 13 26

So Sublime 150/1 3 3 6

We can see here that the short-priced favourite has the joint highest pace score in the race.

The other horse with the joint highest pace score, Dodaa, is a 14/1 outsider.

Now we would expect Dodaa to contest the lead with Harry Up but this will not affect the odds on the favourite too much.

You see we are relying on the over reactions of other punters to make our trades and the fact that a 14/1 outsider is contesting the lead will not concern them.

What they will over react to is Harry Up either contesting or taking the lead outright.

Looking at the rest of the pace scores we would expect Godfrey Street to be behind the front two and to make a bit of a charge as the race progresses. His first pace score is only 6 so we wouldn't expect him to hit the front early.

Let's take a look how the race panned out:

As we can see our pace scores were a very accurate prediction of what happened.

Harry Up led from the off and was closely followed by Dodaa, with Godfrey Street a little further back. All the others, as our pace analysis suggested, started slowly.

Once again this race offered an excellent opportunity to trade on the favourite in-running.

So far the examples have only traded on odds-on favourites with pace.

Whilst this is my favourite strategy due to the high strike rate we can also trade on

other horses as well.

For example if you have a favourite with a low pace score and another relatively low priced horse (usually a second or third favourite) with a high pace score then we can trade on the horse with high pace.

If the low priced second or third favourite takes the lead and the favourite is held up other punters watching the race will often over react and put money on the lead horse.

Let's go through an example of such a race:

OK lets take a look at the pace scores for the horses in this race:

Horse SP Pace Score 1 Pace Score 2 Pace Total

Heathcliff 2/1 10 2 12

Fair Question 2/1 15 15 30

Honour High 11/2 9 2 11

Caipiroska 7/1 0 0 0

Afasonic 14/1 0 2 2

Deep Reflection 14/1 8 5 13

Helm 40/1 0 0 0

Here we can see that Fair Question has a massive pace lead over it's rivals.

It started out as third favourite but slowly the odds came down and it was declared a joint favourite on SP but began 2nd favourite on Betfair.

With such a pace score advantage over its rivals we would expect Fair Question to take the early lead.

Let's see how the race panned out:

As we expected Fair question led the race from the off. However unlike our previous two examples it did not go on to win the race.

But as we are traders this does not matter to us as we would have taken our profit while we could.

Let me show you what happened on Betfair during the race.

The screenshot below shows the odds seconds before the race began:

Our horse has started as second favourite with odds of 3.15. The next screenshot is taken just after the race has started.

As you can see over £30,000 has been placed on this race since it started (in less than a minute) and most of it has gone on Fair Question (as it has gone straight into the lead) and as such the odds have narrowed to 2.92.

As the race goes on and our horse continues to lead the odds narrow further:

In the screen shot below we can see that over £100,000 has been placed in-running . Most of this has gone on Fair Question as it still leads the race and the odds have narrowed even further:

Our horse leads to the 8th fence but then makes a jumping error and the odds change to reflect this:

Our horse soon weakens and the odds begin to rise quickly:

This should give you a good idea of what happens on Betfair during a race.

This race offered a great opportunity of trading on Fair Question. But you have to remember we are traders not gamblers. We always want to make our guaranteed profit and move on.

With that example our horse was a very close second favourite on Betfair but if you find a horse with great pace that has slightly higher odds don't be scared to trade with it.

Let's look at another example, this time of a third favourite with slightly higher odds:

Let's check out the pace scores:

Horse Starting Price Pace Score 1 Pace Score 2 Pace Total

Oscar Jack 11/8 0 2 2

Whitewater Dash 7/2 0 0 0

Ballyboley 4/1 14 11 25

Rudivale 9/2 0 0 0

Nelson 11/1 7 3 10

Major Euro 28/1 5 2 7

Hero Again 33/1 0 0 0 So this time we have a short priced favourite with a very low pace score. But we also have a third favourite with a massive pace score advantage over its rivals.

In this race we would expect Balleyboley to take the early lead followed by Nelson. We would also expect Oscar Jack to make a charge at some point due to his low

price.

Please note in races like this it is vital to trade out early. As the race has a short priced favourite we can expect him to make a challenge at some point and pass our horse.

We want to have traded out before this happens.

Lets take a look at the result:

Unexpectedly our horse went on to win the race.

However what was expected was that he would take the early lead and he duly did. He lost the lead after the second fence but regained it later in the race and went on to win.

For me the ideal time to have traded out would have been when this horse first took the lead. We could have gone in and taken our profit very quickly.

Lets look at the race as it occurred on Betfair.

As the race began our horse was third in the betting:

Our horse heads straight for the lead and about £100,000 is immediately place in-running (mostly on our horse) causing the odds to fall dramatically:

This would have been the time to trade out.

In the next screenshot our horse has lost the lead to Nelson and the price has risen slightly:

As you can see the odds for our horse have risen slightly to 4.2. Note also that the odds of Nelson the outsider have also shrunk dramatically.

Our horse rallies approaching the 6th and takes over the lead again and the odds tumble once more:

Our horse remains in the lead and the odds lower all the way to the finish.

In races like this when there is a dramatic fall in odds straight away it is imperative to trade out as quickly as possible. Take the profit while you can and then move on.

Lets have a look at another example:

Now let's check out the pace analysis for this race:

Horse SP Pace Score 1 Pace Score 2 Pace Total

Formidable Guest 100/30F 0 0 0

Fandango Boy 7/2 1 1 2

Mambo Sun 5/1 10 10 20

Pelham Crescent 8/1 6 1 7

Alexander Guru 8/1 3 3 6

Royal Choir 12/1 3 3 6

Maidanni 12/1 6 6 12

Kings Topic 14/1 8 2 10

Magic Warrior 16/1 5 5 10

Debdene Bank 20/1 6 6 12

Buscador 25/1 5 16 21

Watchmaker 25/1 8 7 15

Straight away we notice that the first 2 in the betting have very poor pace scores. We would expect these horses to start the race in midfield or at the back.

Buscador has the highest pace score but is a 25/1 outsider. We also notice that just behind that is Mambo Sun who is a 5/1 shot.

We would expect these two horses to head straight to the front and as Buscador is a 25/1 outsider it shouldn't have too much affect on Mambo Sun, whose odds we can expect to narrow.

Let's see the result:

As our pace analysis predicted Buscador took an early lead but did not have the ability to keep it for very long.

Our pick Mambo Sun didn't actually take the lead at any point but 'chased leaders' and was in the group just behind the front runner. As we expected the first 2 in the betting we “held up”.

Let's see how this race unfolded on Betfair.

This is how it looked soon after the race had started:

Our horse Mambo Sun is still third favourite but even though it hasn't taken the lead its odds have still come in from a Betfair starting price of 6 to 5.2.

The first two in the betting have seen their odds increase slowly as they are both “held up” according to the comments in running.

Let's take a look at little further on:

The odds on our horse have fallen again to 4.9 as our horse is still just behind the leader.

Note also the odds of the rank outsider Buscador. Our pace analysis suggested this horse would lead and as it has done so its odds have fallen from a starting price of 25/1 to just 15.

Let's move on a little further:

Our horse's odds have now fallen to 3.35 as he is still just behind the two leaders Formidable Guest and Watchmaker.

The odds didn't go much lower as our horse could not catch the leader so now would have been the perfect time to trade out for a nice profit.

This example has shown us a couple of things. Firstly that our horse doesn't have to lead to present us with a trading opportunity.

This is important as it lessens our risk significantly. Obviously if this trading method relied only on our horse leading the risk factor would be high.

However even just being in the lead group will affect the horses' odds in running and will give us an opportunity to profit.

Secondly we have seen that even a rank outsider's odds will fall if it takes the lead. Now I haven't endorsed trading on outsiders as I feel it's too risky for several reasons:

1. It would involve us placing the wrong bet first. That is to say we are placing a

back bet on an outsider first which is basically backing an unlikely outcome.2. The horse is an outsider for a reason, which means it may not have the ability

to lead the race even if this is its usual tactic.3. There is not a huge amount of liquidity on the outsiders in horse races which

means trading is difficult.4. The outsider really has to take the lead to see any drop in odds. We saw just

that Mambo Sun's odds dropped without even taking the lead but this does not happen with horses with high odds.

Nevertheless, the fact that Buscador's odds did drop quite significantly perfectly illustrates this trading method.

Even a 25/1 rank outsider's odds will decrease in running if it takes the lead at the beginning of the race.

Which means if you can find horses likely to take the lead with shorter prices using the methods I have shown you then you can use it to profit handsomely.

Subjectives

As you've probably realised by now the Betfair Maverick method of trading is somewhat subjective.

This is deliberate on my part.

A good trading strategy has to be flexible so that it can be adapted and fine tuned by the punter who's using it.

Some punters have a higher appetite for risk than others and will utilise this method accordingly.

Let's take this chance to look at some of the subjective aspects of this trading methodology that you'll have to take a decision on.

Profit Percentage

You'll have to decide yourself how much profit you'd like to make per trade (as a percentage of your original stake).

If you pick a low percentage you'll have lots of little wins, so a high strike rate but a smaller return on investment.

On the other hand a higher percentage will mean fewer wins but a higher return on investment.

I can't really tell you what to bet here. But I will give you a range that I would advise you to stick to.

I would stick between a profit of 5% and 20% of your original stake.

It's probably best to start at 5% and see how you go from there.

Some of you will want to stick with this but others will want to increase the risk as time goes by.

Each approach is fine. Do what suits you best.

Race Distances

You'll probably have already have guessed that the shorter the distance the higher risk this strategy is.

In a 5 furlong sprint if the horse you're trading on doesn't have a good start you'll almost always lose your trade.

I only trade on 5 and 6 furlong races when I have a solid bet.

But again this all depends on how much risk you are willing to take on.

When you start off I would recommend trading on 1m+ races. This will ease you into the method in a relatively low risk manner.

After you have familiarised yourself with the method you can then decide whether you want to trade at higher risk distances.

Pace Points Totals

Again this comes down to risk.

Some of you will only want to trade on a horse if it has a massive pace points advantage over the other horses in the race.

When you first start off you will want to play it safe, say only trading on horses with a pace score of over 20 and the nearest other pace score in the race being 10.

As you go on though you'll get a feel for the method and come up with your own plan.

Horse's Odds

Obviously if you focus on trading on favourites then you'll have a higher strike rate than if you focused on outsiders.

However you'll also have a smaller ROI.

When starting off I would recommend only trading on horses 6/1 and under.

Once you get used to it you can experiment with longer priced horses.

Remember though,there is less liquidity on the outsiders so if the trade goes wrong it will be harder to trade out of your position.

All these different nuances come down to risk.

Start off my playing it safe and only when you have the methodology down should you begin taking more risks.

UPDATE

I have recently come across a website that carries out its own pace analysis and at the time of writing it is free.

The website is: www.patternform.co.uk

To find the pace analysis section click on the Patternform Cards link.

Next choose the meeting you want and the individual race.

In the top right hand corner click on the link “Pace”.

Here you will see a pace figure for every horse in the race based on it's last ten runs.

This resource will speed up the time it takes to find trading examples as it gives you an at-a-glance look at the race.

I would use this as an initial starting point and then you can delve deeper by looking at the in-running comments yourself to make a final decision.

Now that I've taken you through the method and some examples I'll take you through some pieces of software that will enable you to boost your profits significantly.

Module 4

The two equally important stages of trading are 1). Setting up the trade by predicting a change in odds and 2). Closing the trade in a timely manner.

Now we've identified strategies to take care of the first stage so now lets move onto the second.

Closing a stage in a timely manner is just as important as setting up the trade. If you don't have a system in place to complete the trade then you might as well not have set it up in the first place.

By 'system' I am talking about software. If you were contemplating trading with just using the normal Betfair interface then let me save you the trouble.

Quite simply it cannot be done.

The odds can change in a matter of seconds and you need to be able to close your trade with one click of the mouse.

There are numerous pieces of software out there that can do all of this for you, ranging from the expensive to the free.

I'm going to take you through a few of them now.

Betfair Rapid

The best place to start is with Betfair's own tool called Betfair Rapid.

This is free and can be downloaded using the link below:

http://promo.betfair.com/rapid

There's no point in me doing user guide here as this can all be found at the above link, instead I'll go through a couple of the features that are helpful to us traders.

The two main features that interest us are the rapid price updates (up to 5 per second) and single-click betting.

Getting rapid price updates when trading in-running is very important. You need to see the odds change instantly and you don't want to have to keep pressing the refresh button.

Single click betting is also a must so we can place bets instantly with one click on the mouse.

Below is a sample screenshot using the Betfair Rapid program:

As you can see there are a few slight differences to the usual Betfair interface.

The important thing for us to note is in the top right hand corner where it says 'Single Click (ON)'.

This means our bets will be placed with one click of the mouse, which is essential for placing our bets in-running.

You type in your 'Default Back Stake' and your 'Default Lay Stake' in the boxes provided.

For example if you wanted to trade with £10 stakes you would type in 10 in both boxes. Now if you wanted to place a back bet on the favourite, Woodcote, you would simply click your mouse button on the 1.9 back odds square.

You bet is now placed at odds of 1.9 for £10.

Now if the odds narrowed in running to say 1.8 on the lay side you would simply click that square and a lay bet would automatically be placed for £10.

In this theoretical example your position would be as follows:

Woodcote wins you win £1 profit (£19 profit on back bet minus £18 loss on lay bet)Woodcote loses you would break even (£10 profit on lay bet minus £10 loss on back bet)

The above scenario is a 'Risk Free Bet' situation that I spoke about earlier. However I always like to 'Green-Up' and guarantee myself a profit and this is very difficult with Betfair Rapid.

As I explained earlier for us to green-up we need to stake more on our lay bet than our back bet.

To do this you would have to work out your lay stake for a variety of odds before the race began and this just isn't feasible.

So whilst Betfair Rapid has its benefits over the usual Betfair interface there are much better pieces of software out there.

BetAngel Basic

This is another free software tool and in my opinion is much superior to Betfair Rapid.

Again I'm not going to go into all the features of the software as there are plenty of videos on the BetAngel site that will do a better job than I can.

Like Betfair Rapid it features one-click betting and fast refresh rates but most importantly in addition to this is also features a 'greening up' function.

This feature allows you to spread your profit over any horse in the race with the click of a button, which is a must for us traders.

We don't have to work out any stakes or liability ourselves, simply click the button and BetAngel Basic does the rest.

The screenshot below shows the betangel basic interface:

As you can see it is quite a bit different to the regular Betfair screen.

Here you would put your back and lay stakes on the right hand side of the screen and simply clicking on any of the odds in the two centre columns will automatically place your bet.

However it is the column of green squares next to the horse's name that interests us.

Lets say you had traded on the favourite, Look Of Eagles, with equal back and lay stakes (giving you a profit if it won but only breaking even if it lost).

You would now simply click, on the green square next to Look Of Eagles and the software will automatically green up your position so you would win the same amount on every horse.

This software should be the starting point for all traders. It gives you a chance to get used to trading with a relatively simple interface and all without paying a penny.

If you are serious about trading then I would advise you to start here. You can download it by following the link below:

www.betterbetpublishing.com/BetAngel.htm

Then simply click on the 'The Software' tab and then select Betangel Basic.

Bet Angel Professional

So far the software we have covered has been free but if you want to take your trading to the next level then you are going to have to part with some cash.

Bet Angel Professional is the daddy of all the trading tools, but this is represented in its price.

Prices start at £4.99 for 24 hours of access, but the longer you sign up for the better the savings and one year of access is a reasonable £149.99.

Now there are far, far too many features of this software for me to go into here. If you head over to the site, (http://www.betterbetpublishing.com/BetAngel.htm), you can read through them all and watch videos.

However there are a couple of features that I will explain as they allow you to trade even when not at the computer.

If you work a day job and still want to trade on Betfair then these are the functions that will allow you to do this.

They are called offsetting and trailing stops.

An offset simply means you are accepting a set level of profit before you want the software to automatically trade you out of your position.

You will set the offset at a certain number of ticks and when this is reached the software will trade out for you.

Note: A tick simply represents the number of odds movements.

Odds lower than 2 move in increments of 0.01. Odds between prices 2 and 3 move in increments of 0.02.Odds between prices 3 and 4 move in increments of 0.05. Odds between prices 4 and 6 move in increments of 0.1. Odds between prices 6 and 10 move in increments of 0.2. Odds between prices 10 and 20 move in increments of 0.5.

For example if you back a horse at 3.8 and you enable offsetting at 10 ticks then the software will automatically place a lay bet when the price has moved 10 ticks downwards.

10 ticks lower than 3.8 is 3.3 (3.75, 3.7, 3.65, 3.6, 3.55, 3.5, 3.45, 3.4, 3.35, 3.3)

This means you can set a trade up in the morning and whilst at work the software will take a profit for you (providing the price moves in the direction you predicted).

Now this might seem a little risky which is where the second feature, the trailing stop, comes into play.

Trailing stops are similar but act when the price moves in the opposite direction to the one you want.

You also set his as a number of ticks and the stop fires in when the price has risen by this number of ticks.

Back to our example. Let's say you have set the trailing stop at 5 ticks. This means after you have placed your back bet at 3.8 you are willing to let the price increase by 5 ticks before the software trades you out.

5 ticks above 3.8 is 4.1 (3.85, 3.9, 3.95, 4, 4.1).

So if the price moved upwards straight away the software would place a lay bet at 4.1 and you would make a small loss.

However if the price moved down one tick from 3.8 to 3.75 then the trailing stop would also move down by one tick to 4. So if the price rose again the software would now trade out at 4 rather than 4.1.

It is quite possible for the price to move down so far that the stop loss becomes a lower value than your original back bet and you are guaranteed profit.

These 2 features are like gold dust and even if you are trading in front of the computer I would enable the trailing loss.

This will simply act as an extra bit of insurance should you either get a bit greedy or simply fail to notice a change in price movement.

As I said before there are loads and loads of features for this software but I just wanted to go through the ones that will help with the Betfair Maverick strategy.

I can almost guarantee you that using this software correctly will make you more money over the year than the £149.99 cost.

Final Thoughts

You've now got all the tools and knowledge at your disposal to make a great second income from trading on Betfair.

You've got a trading strategy that I have not seen mentioned elsewhere and as such you will be one step ahead of the other punters trying to make some extra money on the betting exchanges.

The reason I like this strategy so much is for a couple of reasons:

It's a logical way to profit from the over reactions of other punters. You're not simply trying to play the markets and siphon off a quick profit like other trading strategies.

It is a clear strategy that utilises the compulsive and greedy nature of other Betfair punters.

Secondly the research for a days trading can be done the evening before, which means on the day you simply have to open and close the trades.

After you have done your research you will know exactly which races and which horses you will be trading on and you can plan your day around them.

There's no need to spend all day staring at the computer screen.

Furthermore if you have a nine to five job you can use software to place your trades for you. You'll know exactly which horses to trade on and exactly what should happen to the price.

That's all from me. Goodbye and good luck.

See you on Betfair.

Kris JackmanBetterBet Publishing