Backing and laying on same exchange

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Backing and laying on same exchange
« on: August 22, 2018, 12:58:48 PM »

Hi all,
Newbie question...
I'm betting with points at the moment, practising before I open an account somewhere.
One thing I'm not too sure of is whether betting exchanges look favourably upon people placing back and lay bets on, for example, the same horse?
Specifically, are you supposed to back at a traditional bookie and lay on the exchange, or can you do it all on the same exchange?
I'm thinking of starting with Matchbook in a couple of months.
Thanks :-)
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Alfa1234
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Re: Backing and laying on same exchange
« Reply #1 on: August 22, 2018, 01:18:47 PM »

It's called trading and not a problem to do it on the same exchange.  If you win too much too long on Betfair, you'll get charged their "premium charge" though.
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Re: Backing and laying on same exchange
« Reply #2 on: August 22, 2018, 01:28:25 PM »

Thanks for the clarification.
Matchbook have instructions/explanation of trading on their site but the way they've worded it made me think the back betting should be done at a bookie's.

I can't get on Betfair from my country....;-)
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Alfa1234
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Re: Backing and laying on same exchange
« Reply #3 on: August 22, 2018, 02:18:02 PM »

Don't forget Matchbook charges commission on the stake (amount you back or lay) as well.  You don't just pay commission on what you win there.  This makes trading a lot less profitable.
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Re: Backing and laying on same exchange
« Reply #4 on: August 22, 2018, 04:34:55 PM »

That's right, thanks for the tip :-)
I was also looking at Orbit exchange but they're quite new I think so not sure if they're reliable.
Is there a huge difference between arbing and trading?
From what I've read arbing seems to be doing lots of bets at very minimal odds difference for small but risk-free gains. Trading is in principle the same right?
At the mo I'm concentrating on doing a limited amount of bets on bigger odds fluctuations, but I suppose everyone starts like that haha
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Re: Backing and laying on same exchange
« Reply #5 on: August 22, 2018, 04:57:38 PM »

Alfa, I read in another thread that you are also in Belgium ;-)
I would love to hear any betting exchange recommendations, if you don't mind me asking!
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Alfa1234
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Re: Backing and laying on same exchange
« Reply #6 on: August 22, 2018, 08:13:24 PM »

Arbing you place both bets immediately for instant profit, trading you wait for the odd to go your way to trade out for a profit.

In Belgium, we can only register for Matchbook...I recommend using an agent to access different exchanges or to get the Betfair odds.  The ones recommended in the forum are reliable and can give you access to Betfair odds through Orbitx and 9Wickets.  :)
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Re: Backing and laying on same exchange
« Reply #7 on: August 22, 2018, 09:20:40 PM »

That's great, thanks.
What a difference a couple of questions and answers on a forum can make  :)
Now I have more homework to do!
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dealer wins
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Re: Backing and laying on same exchange
« Reply #8 on: August 22, 2018, 10:02:03 PM »

To be able to make a profit trading/backing laying needs a very high skill level, if you are a beginner get proficient in arbing first, using soft books, then start arbing sharp books v exchanges.  If you master that you could possibly start trading, but however smart you think your bets are, there are smarter bots and players out there trust me!!
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Re: Backing and laying on same exchange
« Reply #9 on: August 22, 2018, 11:06:31 PM »

Thanks dealer, I hear what you're saying and it's probably the smart thing to do but I really don't fancy arbing, it would be something that I wouldn't enjoy.
I wouldn't like having to work really quickly placing loads of bets, and it seems very 'systematic' for want of a better word.
I actually like reading/analyzing horse racing and greyhound form, and so far finding a couple of horses per day that jump from say 8/1 to 15/1, or vice-versa, hasn't been a problem.
The greyhounds I just lay bet.
But hey ho, I've only been testing for a couple of months, not very long at all, maybe I will be forced to arb one day ;-)



 
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Re: Backing and laying on same exchange
« Reply #10 on: September 09, 2018, 04:21:02 PM »

@Alfa....I presume the betting agents you're referring to are Premium Tradings, Asianconnect and Bet-ibc? They're the ones I see on here.

I have another question(!), I'm trying to assess the liquidity of the greyhound markets. The only exchange I can see is Matchbook (because I haven't set up any accounts anywhere yet). Trouble is they only cover a very small portion of the greyhound meetings.
I can also see the markets on the Orbit exchange site but the numbers are 'static'. It refreshes every couple of minutes which is no use really, unkike Matchbook where you can see the market moving 'live' as it were.

Is the Orbit site different when you're logged in? Or when you go through an agent can you see the prices changing quickly? Or is there software available through which you can see the prices moving on different exchanges?
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Alfa1234
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Re: Backing and laying on same exchange
« Reply #11 on: September 09, 2018, 09:18:50 PM »

Never bet greyhounds in my life...simply ask one of the agents for a test account to check yourself.  Bet-IBC is not supported by the forum, you mean Betinasia. :)
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Re: Backing and laying on same exchange
« Reply #12 on: September 09, 2018, 10:58:29 PM »

I would say that Greyhounds is a very minor sport for betting and trading volume, and betfair would be essential to have to trade.

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Re: Backing and laying on same exchange
« Reply #13 on: September 12, 2018, 09:46:29 PM »

Thanks guys.

I do mean Betinasia, I found bet-ibc on Google....
A test account is probably what I need though I suspect liquidity is going to be a problem with my system.
Shame because it's surprising how good the odds are with only 6 dogs per race, and usually over a hundred races a day in UK!

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Re: Backing and laying on same exchange
« Reply #14 on: September 13, 2018, 02:14:53 PM »

Hi all,
Newbie question...
I'm betting with points at the moment, practising before I open an account somewhere.
One thing I'm not too sure of is whether betting exchanges look favourably upon people placing back and lay bets on, for example, the same horse?
Specifically, are you supposed to back at a traditional bookie and lay on the exchange, or can you do it all on the same exchange?
I'm thinking of starting with Matchbook in a couple of months.
Thanks :-)
Betting for points in training mode won’t teach you anything. It’s like learning to play poker with monopoly money. Use small stakes to learn. You’ll learn that in many cases you want be able to get prices you were able to get in t-mode even if liquidity is there, you'll bet against the real market with all the sharks, technical issues, etc and, most importantly, against your own fear of losing your real money. Good luck! 
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