I don't get it

[Euler]

I’ve always found it interesting how many people who bet don’t really get the wider opportunity that’s in front of them with Betting exchanges.

It’s not just trading either. Even at a basic level, things like price, value, and timing seem to be overlooked. Some people still don’t understand that getting the right price matters more than picking winners, or that markets move and you can take advantage of that. And it still amazes me how many people don’t really understand a lay bet, or don’t even realise that laying exists as an option.

A lot of people still seem to be stuck in a very traditional bookmaker mindset. Pick something, back it, hope it wins, move on to the next one. That approach ignores so much.

I’ve had a Betfair account for 25 years now and have been full time for most of that. Exchanges are easily the best betting platform ever created.

Why don't people get it?

[ODPaul82]

I think as its so indoctrinated into peoples heads is that's the approach they have to take.
I cannot remember for the life of me when I saw an advert for an exchange

There's the massive opportunity with trading in that you can recycle over & over as well which isn't an opportunity that old fashioned backing lets you do.

That being said I will do set & forget with dutching correct score but only if model says yes it's value vs price

[jamesedwards]

For the recreational punter the Betfair UI is complicated and daunting when compared to the simplicity and flexibility of a user friendly traditional platform such as Bet365. Plus they have to sit and wait for their bet to get fully matched. For a few extra % winnings in their eyes the juice isn't worth the squeeze. And that's even if they know Betfair Exchange exists.

[Crazyskier]

I’ve always found it interesting how many people who bet don’t really get the wider opportunity that’s in front of them with Betting exchanges.

It’s not just trading either. Even at a basic level, things like price, value, and timing seem to be overlooked. Some people still don’t understand that getting the right price matters more than picking winners, or that markets move and you can take advantage of that. And it still amazes me how many people don’t really understand a lay bet, or don’t even realise that laying exists as an option.

A lot of people still seem to be stuck in a very traditional bookmaker mindset. Pick something, back it, hope it wins, move on to the next one. That approach ignores so much.

I’ve had a Betfair account for 25 years now and have been full time for most of that. Exchanges are easily the best betting platform ever created.

Why don't people get it?

I have had several conversations along these lines, and now accept that the 'buzz' of a gamble, placing a bet and watching the outcome, is far more exciting (to many) than a scientific approach around price and timing and value.

I've given up trying to persuade people and now gracefully accept their 'bet and hope' bit of fun.

CS

[Goobs]

I’ve always found it interesting how many people who bet don’t really get the wider opportunity that’s in front of them with Betting exchanges.

It’s not just trading either. Even at a basic level, things like price, value, and timing seem to be overlooked. Some people still don’t understand that getting the right price matters more than picking winners, or that markets move and you can take advantage of that. And it still amazes me how many people don’t really understand a lay bet, or don’t even realise that laying exists as an option.

A lot of people still seem to be stuck in a very traditional bookmaker mindset. Pick something, back it, hope it wins, move on to the next one. That approach ignores so much.

I’ve had a Betfair account for 25 years now and have been full time for most of that. Exchanges are easily the best betting platform ever created.

Why don't people get it?

Well what is it that we arent getting? I've watched so many of your videos on YouTube, I'm quite frankly sick of hearing your voice, and yet none of those several hundred hours of video have materialised into anything remotely profitable... I just can't find a single approch that works.....

[Goobs]

I cant even make £5 a day, nothing but loss loss loss day after day..........yet this guy Sam "has a go" and makes £44k in his first year?

https://www.youtube.com/shorts/RYHXliv_cTs

I just don't see how there is such a gulf in between winners and losers and seemily nothing in between, I only want to make about £500/m I shouldn't be this hard!?

[jamesedwards]

I cant even make £5 a day, nothing but loss loss loss day after day..........yet this guy Sam "has a go" and makes £44k in his first year?

https://www.youtube.com/shorts/RYHXliv_cTs

I just don't see how there is such a gulf in between winners and losers and seemily nothing in between, I only want to make about £500/m I shouldn't be this hard!?

If these results are real (quite possible) then it's because Sam is using drone footage, probably has a good set-up, and is good at race reading.

[Euler]

I just don't see how there is such a gulf in between winners and losers and seemily nothing in between, I only want to make about £500/m I shouldn't be this hard!?

In my experience of teaching others, it's often your own psychology that gets in the way.

I was terrible at trading short term on financials, but by the time I started Betfair trading, I'd got rid of all my bad habits.

[weemac]

Why don't people get it?

I think most people simply don't care. From energy providers to car insurance, from phone contracts to supermarket shopping, people just go with what they know and what they've always done and believed. I watch people put groceries in their baskets and 90% just grab the branded/overpriced item they know and move on, whereas I'm comparing the ingredients and price per 100 grams.

TV adverts show that people value brand and emotion above price and value in everyday life, so I see no reason to expect their betting habits to be any different.

[Goobs]

I just don't see how there is such a gulf in between winners and losers and seemily nothing in between, I only want to make about £500/m I shouldn't be this hard!?

In my experience of teaching others, it's often your own psychology that gets in the way.

I was terrible at trading short term on financials, but by the time I started Betfair trading, I'd got rid of all my bad habits.

But I was the total opposite, I made a career trading financial markets, and cant make a penny doing this, I just cant work it out, its driving me mad!

I think the lack of liquidity is something that messes with me, I can put a stop in at X price but that doesnt mean it'll be filled, at times its like trading on some random Chinese crypto exchange...

[Euler]

Just think of yourself as a market maker.

[Goobs]

Trust me i'm trying to, I'm trying to get filled at favourable prices (4.0 to 2.0), to keep my liability in check but I keep getting trapped in bad trades, the market then moves so fast in the closing stages of the race that greeing up or trying to trade out of your position just seems like random buttom mashing!

I'm pretty close to giving up really, I feel like I've wasted two years just playing some kind of random game....

[jamesedwards]

I just don't see how there is such a gulf in between winners and losers and seemily nothing in between, I only want to make about £500/m I shouldn't be this hard!?

In my experience of teaching others, it's often your own psychology that gets in the way.

I was terrible at trading short term on financials, but by the time I started Betfair trading, I'd got rid of all my bad habits.

But I was the total opposite, I made a career trading financial markets, and cant make a penny doing this, I just cant work it out, its driving me mad!

I think the lack of liquidity is somthing that messes with me, I can put a stop in at X price but that doesnt mean it'll be filled, at times its like trading on some random Chinese crypto exchange...

We all have bad days when seemingly nothing goes right.

z388.jpg

[Goobs]

Sure we do..... but i've had about 600 of them! Yours is just part of your own trading variance, i'd be happy to have a few down days like that if i were making £40k a year!

[Euler]

Trust me i'm trying to, I'm trying to get filled at favourable prices (4.0 to 2.0), to keep my liability in check but I keep getting trapped in bad trades, the market then moves so fast in the closing stages of the race that greeing up or trying to trade out of your position just seems like random buttom mashing!

I'm pretty close to giving up really, I feel like I've wasted two years just playing some kind of random game....

Trying to trade in-play?