Up until now I have been using Betfair for BACK to WIN and LAY to LOSE trading. It is possible, however, to use other Betting Exchanges and even traditional Bookmakers, to set up crosstrade situations.
Why would I wish to crosstrade?Odds disparity amongst the various betting facilities can often produce instant trading possibilities. It is often the case that the early bird can spot a favourable difference in odds, between sites, before the market settles down.
E.g.
· The BACK ODDS on Betfair may be higher than the LAY ODDS displayed on one of the
other Betting Exchanges.
· The BACK ODDS available with a traditional Bookmaker (they do not have LAY
ODDS) may be higher than the LAY ODDS displayed on a Betting Exchange.
I advise the use of a highspeed Internet connection at all times when trading, and this advice is even more pertinent when crosstrading. You must also familiarise yourself with the way each “account” you have operates. Speed is very important. Whilst placing a bet with one account, you may have missed the boat when you come to tradeoff on another.
Betting Exchanges you may wish to consider are:Betfair ( www.betfair.com ) Betdaq Racing (www.betdaq.co.uk) Sporting Options (www.sportingoptions.co.uk) IbetX (www.ibetx.com) My Bet Your Bet (www.mybetyourbet.com) Intrade (www.intrade.com) Trade Bet X (www.tradebetx.com) BetsOn (www.betsson.com)
You may also wish to use traditional Bookmakers for your BACK to WIN side of your trade:William Hill (www.williamhill.com) Ladbrokes (www.ladbrokes.com) Coral (www.coral.co.uk) Paddy Power (www.paddypower.com) Sporting Odds (www.sportingodds.com) Victor Chandler (www.victorchandler.com) When using a single Betting Exchange for your trading, keeping track of matched and unmatched bets is quite straightforward. When using Betfair, for example, a list of your bets can be viewed through my account>current bets.
However, if you are crosstrading, things can become a little cumbersome if you are keeping track of bets by flipping around the sites. In this instance you are advised to keep a list of your bets in a more methodical format, where you can quickly establish your trading position at any given time. You may wish to modify the spreadsheet in the chapter headedup TraderKeeper to list the various Betting Exchanges/Bookmakers used.