About

Just a quick heads up as to what this site is all about. In a nutshell, I have set myself a goal of learning how to trade the pre-race horse racing markets on Betfair. Initially I had set out to learn how to trade stocks and shares, Forex, Cryptocurrency, that kind of thing. The only problem with that is, you need a fairly big bank to make anything worthwhile. With Betfair, I discovered that you can make much more from a smaller investment. The only downside is, you also have a much lower ceiling of how much you can make. But that’s not an issue really, I’m not looking to be making tens of thousands a day. A couple of hundred is my target. Betfair has a much lower barrier to entry, less commissions unless you’re making big bucks, and much easier to set up and get money in and out of the market. Day trading in the more traditional way, you can enter a trade, sell even when the price goes up, and still come out with a loss after commissions and the cost the broker imparts for placing the opening and closing trades. So, Betfair it is.

I know absolutely nothing about horse racing. I don’t really care for it to be honest. Which is exactly why I chose horse racing. With other sports, you mostly have to know something about the game you’re trading. For example if you where trading the over/unders markets in football, you’re going to have to know more than a little about the game, both teams, maybe some statistics, to make an informed decision about if a goal is going to be scored, and maybe even in what half that’s expected to happen. Or even time segment. Not the case with pre-race horse racing. The prices move around much like the stock market, where supply meets demand in terms of where the backers meet the layers. It’s based on pure speculation and crowd psychology. At least that’s what I’m led to believe up to this point. Obviously peoples opinions on which horse they think is going to win is going to inform where their money goes, but all that should be plain to see by observing money flow, without having to know anything about the horse, the jockey, the trainer, the track, the weather, etc. And I guess that’s what I intend to find out along the course of my journey. Having said that, I am open to the possibility that some horse racing knowledge might actually be helpful. If so, I’m sure I will pick things up as I spend time in the markets and watching the minutes leading up to the horse race on screen. At the time of writing this I’m an absolute beginner so I have it all to learn bar the absolute basics which I have took the time to learn of course before being able to trade. As I pick things up, I will write about it and hopefully someone may find it helpful.

Anyway, I’m trying to keep this short so I’ll leave it there. In a sentence, a blog about my journey trying to learn how to trade the pre-race horse racing markets on Betfair. Lets get after it!