Sports trading involves using a betting exchange to buy and sell odds with the aim of generating a profit
You can begin trading by opening account with a betting exchange.
The most popular and well-known betting exchange is Betfair. However, Betdaq, Matchbook and Smarkets each have their own advantages and charge lower commission fees.
Check out: Top Betting Exchanges.
There are several advantages to using betting exchanges over traditional bookmakers, such as:
- Consistently better odds
- The ability to request prices, and to trade in and out of bets
- Professionals are welcomes, meaning accounts aren’t limited.
- Software and tools are compatible, making scalability possible.
That said, there are some advantages to using bookmakers which I’ve listed in the article: Why Use Bookmakers?
Sports trading requires practice, skill, patience, strategy, and technology. It’s not something you can become successful at over night.
Some of the methods experienced traders use are as follows:
If you’re starting out, I recommend reading the article: The Biggest Challenges For Betfair Traders.
There are two types of software products you can use to improve your approach to trading on the betting exchanges:
- Tools: for a semi-automated approach, which essentially speeds up manual bet placement. I recommend Bet Trader.
- Bots: for an automated approach, which executes strategies according to the parameters you set. I recommend BF Bot Manager.
The majority of trading tools and bots are designed especially for use on the Betfair exchange. However products are constantly being built/upgraded to incorporate other exchanges, such as Matchbook.