I am about 15% down on the first 4 months of 2010.
No great surprise as the volumes on horse racing markets have fallen and it is no wonder with the Tories squeezing the man in the street from every angle.
With IR XM this means another little trick has gone the way of the Betfair P&L.
I see I made 17% of my profit from Australian horse racing and 19% from Betdaq.
How is everyone else doing?
First third of year review
I'm pretty much level year on year but that masks the fact that there are new things I am doing this year that I wasn't before, so if you strip those out it's a net decline. I think it's clear that XM has had a subtle but noticable effect on racing as it's transferred cash out of peoples pockets and into Betfair's, so that's probably not a +ve factor in the market!
Jan to April 2011: Done much better than 2010 (I'm using considerably higher stakes than last year and trade both manual and auto (So difficult to compare really?)
These last three days have been very difficult IMO in running. Betfair have either changed the algorithm slightly (although not sure how they could>?)..or someone is trying to manipulate the in-play (Difficult but not Impossible?).
I've been recording some of the markets today and that last race (Bath 17:10) was a very good example. The horse "Out of the storm" traded at massive odds (>900) and then dropped to 5's just before the finish. They must have had big liabilities had that one come in?
I've noticed that they have been burned a couple of times this week..but it's just a matter of time!
Anyway I digress! Hope the rest of the year is good for you all!
Regards
Peter
These last three days have been very difficult IMO in running. Betfair have either changed the algorithm slightly (although not sure how they could>?)..or someone is trying to manipulate the in-play (Difficult but not Impossible?).
I've been recording some of the markets today and that last race (Bath 17:10) was a very good example. The horse "Out of the storm" traded at massive odds (>900) and then dropped to 5's just before the finish. They must have had big liabilities had that one come in?
I've noticed that they have been burned a couple of times this week..but it's just a matter of time!
Anyway I digress! Hope the rest of the year is good for you all!
Regards
Peter
Ive had a slowish start to the year about the same profits made as last year, but i have upped my stakes considerably since then,
def some very odd things going on some betfair markets whether it's just lower liquidity or the cross matching effect i don't know, but times are a changing that is for sure since this time last year.
This bank holiday weekend has been very very odd not much money kicking about at all and when you having to wait ages to exit a correct score bet on one of the biggest games of the season (Man u v Arsenal) you start to wonder whats happening.
Maybe some people just have better things to do on a weekend i don't know
def some very odd things going on some betfair markets whether it's just lower liquidity or the cross matching effect i don't know, but times are a changing that is for sure since this time last year.
This bank holiday weekend has been very very odd not much money kicking about at all and when you having to wait ages to exit a correct score bet on one of the biggest games of the season (Man u v Arsenal) you start to wonder whats happening.
Maybe some people just have better things to do on a weekend i don't know
I'll say one thing for betfair, ever since their new terms and conditions came into effect I haven't seen the great manipulator chuck 20k on both sides, not that the markets are now totally manipulation free of course, but at least that is a positive. I'm finding the markets pretty sweet at the moment after a drab first couple of months to the year, maybe next year I'll be smart enough to stick to my word and just take them off