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How much money can you make? Setting sensible targets

Now as we come towards the end of 2020, you may be tempted to reflect over the profit you have made over this last year. Some of you, you’ll be hoping that 2021 is a lot more hopeful and you’ll be thinking about how much can you make next year? Could it be £100,000? £1 million? £10 million?! What should be your actual target?

There is actually a very simple (and sensible!) answer for you which clearly defines exactly what your objective is and what targets you should set when you’re Betfair trading.

Why can some targets be bad?

One of the things that you need to be careful about when you’re trading, is setting targets. Earning money is obviously important and having a realistic target is a key aspect of what I look for when people approach me and need advice, because if somebody comes to me and says:

‘Right Peter, I need to make two hundred and fifty quid a day and I’ll be happy! How do I do that?’

If you’re saying this, then you’re looking at it the wrong way round! Trading itself isn’t something that lends itself particularly well to that method of operation. Yes, you can set a target, but setting a black and white arbitrary target at a top level isn’t the way to go. Trading, to a degree, works the other way around.

If you look at my long term P&L, what it tends to do is follow the sport cycle. By looking at it over the course of the year, January and February are quite quiet and then it begins to rise in March and then it peaks in the summer where it drops as we come out of the summer months. You see it follow the cycle of the sports that I’m trading throughout the year.

Of course, the cycle includes or doesn’t include one sport or another over the course of a year. So, your cycle will be slightly different to mine depending upon what you choose to trade and when you choose to trade it. My mantra is always to trade the most while the sun shines in the summer, there’s so much going on and that makes it’s perfectly possible to make good sums of money.

But I’m not expecting to do that in the winter because there are fewer events going around during that time of year so I’ll have fewer markets to trade and less trading strategies to deploy into them. So it is foolish to have a target that is the same in summer as it is in the winter because you’re very likely to do much less at certain times of the year and much more at other times of the year.

It makes no sense to be able to have a standard target and then just liberally disperse that across the year.

This even works for me if we go down to a weekly basis on pre race trading on the Betfair exchange. Most of the money that I make tends to occur towards the weekend because that’s when most of the sporting activity is on. It’s not always like that, because you do get little bumps and peaks at other times depending upon what you’re going to do, but generally, it is skewed towards the end of the week.

So even if I have a bad time at the start of the week, it doesn’t really matter because by the time the weekend comes, I’ve got plenty of opportunity to make it up. However, I don’t look at it like that! I don’t look at it as though I’m making up a certain amount of money. That’s just part of the cycle.

It’s useful that the week finishes on a Saturday for me. Early in the week, there’s a lot less opportunity and there is less money in the market. So it’s Mondays and Sundays that are the days I usually take off or do other things as it slowly peaks up until the weekend (typically on a Saturday like shown in the image above.)

Ultimately, the amount of profit that you make is dictated by the market and the underlying events within it. Now this is how you need to objectively look at what potential profit you have. Luckily for you, I’ve got a really simple way of doing that…

Focusing on the long term

If you look at my activity on the markets, one of the tricks that I have is that I’m trading many more markets now than I ever have done in the past. So when I first started on Betfair, I would basically go on the screen, place a position and then close the position out. That was pretty slow and laborious and meant that I couldn’t do that many markets. Then Bet Angel was born and it was possible to do a lot more with and much quicker within the market.

Bet Angel was released in it’s early stages in 2004

I was able to put additional trades through more markets and more frequently across a wider range of sports. As time has gone on, you’ve obviously seen Bet Angel progress and now we’ve got the opportunity to be able to automate as well. It’s great to be able to do that because it means that I can simultaneously participate in a range of markets while I’m actually trading another one.

So it’s perfectly possible to do all sorts of weird, wonderful and crazy things many times over in a whole range of markets!

The opportunity is bigger than it’s ever been

Thanks to Bet Angel and now Automation, necessarily the scope of my opportunity is much bigger than it ever was. So that’s one of the reasons that I perform so well overall is because I’ve got something going on pretty much 24/7 all of the time!

Even if I’m actively trading in front of my screen, I’ve got other versions of Bet Angel doing other stuff in other markets or even on the same market, but exploring a different strategy.

So that’s one of the tricks that I now have, which allows me to hit that number. It’s the ability to be able to do more things within it. However, that reduces your risk as well because if you think about it, your target isn’t to do one amazing £200 trade, you could actually do five smaller trades to get up to a decent number if you so wish.

That’s the crux of where we’re getting to here, because if you set an arbitrary target of £100 in any one particular day, you’re going to be limited to achieving that target by however many markets are involved in hitting that particular number.

What you need to do is stretch out your time scale and make it much bigger and longer, over wider time scales. So if you say to yourself that you just want to be profitable over the course of the week, if you only trade 5 markets, there’s a lot of pressure on for you to get those 5 right.

However, it’s perfectly possible you could trade hundreds in a week. Therefore, your target becomes a little bit more achievable because you lower your stakes down, which involves little less pressure on you.

It’s easier to actively trade with smaller amounts when you’re active in the market. You wont feel much pressure when you have a losing position or trade.

£1K short term target? Good or bad?

Let’s use an example, for this I’m going to use an arbitrary money, I don’t suggest you set this target, but it will help you gain perspective.

So our target for the week is £1k and I’m going to trade ‘x’ amount of markets. If you trade five markets and your target is £1000, you’re going to need to pull out a £200 trade without any losses to be able to hit that target.

That’s a bit of an ask, if I’m honest!

Now, if you say my target is £1k and I’m going to do it in a thousand markets, all of a sudden you collapse your objective and you’re not relying on one mega-trade. You basically say that on average you are making £1 each out of these markets, so I could be up to a £2 on one particular market, down £1 on another, up £5 and another £4, up £6, down £3 etc. That way you aim for a target that’s much more reasonable and manageable which is perfectly possible! Another benefit is that include and expect losses.

I have an automation strategy that I use and off the top of my head, I believe it’s probably made £60 or £70k. If you look at the way that it was achieved and the equity curve (an equity curve is looking at the cumulative P&L) of a particular strategy, what you see is it’s just a gradual climb over a very long period of time.

My equity curve on my automation strategy

The individual amounts that I win and lose on there are relatively small, so you see my trick that I’m pulling here is simple: I’m just doing a lot of them!

It’s a lot of money at the end of this particular total, but the actual amount of money that’s involved any one time in the risk that I’m taking and the amount that I’m yielding per market is actually pretty small. Of course, this runs parallel to all of the stuff that I’m doing manually in the market it just goes doing its business in the background. Then I can look at it at the end of the week go, ‘oh yeah, it has been a good week’!

However, the more markets I put into it, the more it will yield and the fewer markets I put into it then the less I will yield. By doing it over a very large number of markets, the actual overall objective is very achievable. So yes £1K can be a good target, but it shouldn’t be a short term target.

Setting achievable goals

So if I said to you, can you pull off a £200 trade at the next race, you may look very shocked at me and you may not be able to do that! But if I say to you your objective is to make £1 a trade, then obviously you think, ‘well, definitely I can achieve that!’

Now it can simply be a case of replicating this when going forward. If you look at it from a broad perspective over a year, say you wanted to make £100,000 a year.

You set a target of trading 50,000 markets. Therefore, if you do the math – £100k/50k = £2, £2 is the amount you would hope to make on average.

Obviously, this wouldn’t work out perfectly where you’ll win £2 in every market. In some markets, you’ll win £5 and on other markets, you lose three quid and it averages out +£2. So all of a sudden, you’re thinking, could I get £2 out of a market?

You see this is a much more reasonable target than trying to earn some stupendous amount out of the market which will probably be at a much higher risk. So when you set a target, that’s ultimately the way that you should be doing it. It’s like writing up a business plan of sorts!

You see that’s where I want to end up! It’s a much better way of looking at your risk and your money management and what you’re trading objective is. It is better than trying to meander your way through it. You could end up throwing money at it left, right and centre and then find yourself up against a target and then slipping backwards.

It can get messy! Remember: it’s best to have a definable pattern of behaviour.

I know how many markets I’m likely to trade next year and the interesting thing is the number of markets that I trade on average is actually accelerating at the moment. With all the work we’ve done with automation and semi-automation, especially with aspects like Servants, it is things like that which increases my capacity to trade.

An example of automation

Not only am I trading more markets, but I’m putting more trades through those markets. As a consequence, my account turnover and the profit continues to rise simply because of the large number of markets that I’m able to participate in.

You don’t have to go for those big, you know, glory seeking massive totals on any individual event. Your objective is a little bit more subtle than that.

£100,000 in a year is it possible?

Curiously, in my experiance, It’s easy to achieve bigger targets if you focus on small average profits over a large number number of markets, not setting a large target per race.

Now, If you’re looking at how much money you could possibly make it’s important to note that if you’re starting out to say you probably won’t make any money! Ultimately, what you’re looking to do if you’re trying to get to the stage where you earn a decent sum of money, is looking for a much broader objective.

You’re not saying I need to make a certain amount over this period of time, you’re prioritising the idea that you are going to trade ‘x’ many markets and therefore this is my overall objective. It makes life a lot simpler and easier to cope with. It also significantly reduces the amount of stress that you have when you’re actively trading.

Don’t look at your P&L

The other thing you can do is not look at your P&L, if you look at your P&L and you have a figure in mind that you’re attempting to achieve during a certain time period, then that tends to force you to pursue more aggressive strategies when it isn’t going well.

It may be that the market just isn’t in your favour at that moment in time. You just have to keep on ploughing on and doing the things that you know are right and eventually, it will turn around at the end of that longer period. It’s sometimes hard to stay patient, but it may take more than a week, a month for you to even out. Many a small loss can turn into a much bigger one if you are chasing a target.

Summary

If you want to know how much you could possibly trade and how much money you could make from that trading, I think that your objective really is not to set that arbitrary figure, but to look at the number of markets you’re trading and set your total trading goal from there.

So do you think 2021 will get you that big profit? Remember, don’t fraternise with your losses, it is your goal to end up positive overall on average. With that mindset, it will help you succeed and possibly reach that £100,000…or whatever your target is.

The post How much money can you make? Setting sensible targets appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Profit on a football match before it even starts

How would you like to win hundreds or even thousands of pounds by betting on a football match even before the match has started and regardless of who goes on to win?

This betting strategy is not your traditional type of betting, it’s a Betfair trading strategy that allows you to profit even before a ball has been kicked in a football match, regardless of who goes on to win that actual match!

Betfair football trading – Team news

This Betfair trading strategy is trading team news, there are many advantages to trading team news. Because it’s pre-off it’s easy to manage your risk as you can frame your upside and downside. In short you don’t have a freak goal bombing your potential profit.

I’ve got some lovely examples for you here from matches that had taken place over the last year or so. This blog will talk you through these examples so that you can understand exactly what your objective is, how you would go about it and how each of these examples is slightly different.

When in the year is the best opportunity to profit?

The time of year has an important impact on this particular strategy as we have this crazy period towards the end of the year in the domestic football season in the UK. Really this period starts picking up around mid-December due after teams begin playing in the European Champions League in early December. As we head towards the Christmas period, we get a very congested period of football matches where teams may be playing quite a large number of matches quite frequently.

Now, the problem we’ve got with that it that as teams get paid an awful lot to compete in the Premier League. So even if you’ve just qualified to play in the Premier League and have been promoted from a lower division, you’re probably going to get about £130 million worth of revenue.

The top teams obviously get more because they get more TV coverage and prize money, but it’s worth a huge amount of money.

What generally tends to happen around this time of year is when there’s a large number of fixtures close together the managers don’t want all of that same players out all of the time. So if the fixture list offers that opportunity or sometimes even if it doesn’t, they will rotate the squad to avoid injuries.

But even then, some managers don’t have the squads to be able to rotate much, so they put players out who can get injured and therefore it has an immediate impact on a fixture that’s about to happen. If odds go up a long way in advance it is possible that those odds are then going to shift and change according to what team is likely to be put out and what injuries within the squad at that particular moment in time.

Case Study 1: Liverpool v Everton – catching it early…

So our journey begins at the beginning of December when Liverpool were announced to play Everton in the FA Cup third round.

When that was announced, the market was put up on the Betfair betting exchange and I had a quick look at the market. When I saw that it was priced at 1.45 I immediately thought, well, this has to be worth a lay at 1.45.

So when you’re laying, you’re betting against something happening. By laying Liverpool at 1.45 I thought this was an excellent opportunity.

Had I gone mad? Of course, Liverpool are going to win against Everton at home! Liverpool had great form at that moment compared to Everton’s form

What I am really saying here was that this is a great trading position for me. By laying Liverpool at 1.45 it means as we get nearer to that particular date, 1.45 to beat Everton is most likely the price that you’d expect, maybe even be a little bit shorter in terms of the odds that were available.

I thought a lot was going to change by the time we actually got to the match, which was going to be played at the beginning of January in roughly about a month’s time.

Here is a bit of a long term trade here, but there were opportunities to profit from this all the way through to the start of the match.

So what we’ll do is we’ll park that for the moment and we will talk about other things that happened in between.

Case Study 2: West Ham v Leicester – watch who is playing…

The premier league 2020 this December also looks to be busy this year

As we go into that busy Christmas period, it gets pretty chaotic. There’s so many matches going on, so many different fixtures so its easy to understand that squads are going to be stretched. It’s going to be tough to really get things right at this particular moment in time. You have to think about whether you want a full strength team against somebody that’s at the bottom of the league, or do you save a few players back so they can play in a couple of days time in another more important match?

So lets look at a match played between West Ham and Leicester. When this market opened, Leicester were odds of 2 to beat West Ham. West Ham weren’t playing to their top form and Leicester was playing very well, meaning both teams were at opposite ends of the Premier League table.

Now, the interesting thing that happened here was the manager of Leicester, Brendan Rodgers, basically decided that he was going to rest some players. His view was that he would be able to beat this West Ham team even if they took out some of the key players within the Leicester team.

So when it actually came to the match itself, he did rest some players and in fact, he rested nine!

Now this was a bit of a surprise to the market. Even I didn’t figure out that he was going to rest!

Swapping out 9 of 11 players is a very significant change that you would expect to see. So as a consequence, the price absolutely rocked out at odds of 2. The market was saying that list had a 50% chance of winning, but because they had removed or changed over nine of their players, the odds absolutely shot out to reflect what the new probability of winning would be.

On in this particular occasion, the odds went out to roughly 3 like shown in the graphic below.

Basically the odds had shifted 17%, meaning the market was marking down Leicester’s chance by about 70%, given the wide number of team changes. That was a very big, significant move that happened over a very short period of time. Everybody was expecting a few changes – just not nine players, so the market had to respond as and in consequence of that.

So what money could you have made from this?

So if you’d laid Leicester at 2.00 with £100 and then backed them at 3.00 with £100 you’d roughly make £100 profit. Meaning you would have made back your entire stake on that particular trade.

Here you can see that there is a lot of potential there.

Case Study 3: Liverpool v Wolverhampton – Hectic Christmas fixtures can change the market

But if we look again over this particular period of time, bringing Liverpool back into the mix, Liverpool were scheduled to play wolves and a problem that wolves had is that they had just played Manchester City and they had won. So they’d gifted Liverpool a further lead in the title championship and then, lo and behold, they were actually playing Liverpool themselves away a few days later.

source: [x]

If you follow the press and you’re into football, listening and reading everything that comes up, you don’t have to sit there every day going through every single article. Instead you’ll pick up on stuff as it happens.

The Wolves manager was basically saying how ridiculous the whole schedule was and that it was almost inevitable that he was going to have to rest some players for the Liverpool match.

So with laser focus, I basically sat there with Bet Angel fired up and my finger over the lay button to see exactly what team wolves would actually put out.

As soon as I got information on the team, which I would often get from Twitter (side note: Twitter is generally the first place news like this appears) then I just hit the button again.

Now the Wolves put out a much weaker side than was expected and the price just popped up. So we’ve gone from this initial trade of Leicester playing West Ham and that huge move that we saw within the market there, to a much shorter time trade here.

I was basically waiting specifically for exactly what team would be put out. So when I knew that, I just went into the market and put a reasonable sum of money and performed that trade.

In fact, once hearing this information and my memory serves me correctly, I backed Liverpool and I laid wolves. I backed Liverpool because I was expecting the price of wolves to go out and therefore the price of Liverpool to come in. So it was just a quick opportunity to basically go into the market and grab a few ticks. So this trade was only, perhaps about seven ticks should on the ladder below.

You can see the move on the West Ham and Leicester match was absolutely massive. We’re looking at fundamentally the same thing from a slightly different angle.

The bigger the change in team sheet, the bigger the move that you’re going to get. Even small ones, can present opportunities, but you can have to use a bit more money.

You’ll see, on this particular occasion, I used a fair amount of money, but this is somewhat deceptive.

When you’re actively trading, you may not use all of that money in one go:

You may…

1. put one trade in and take it out and put another one in and take it out

or

2. just put it all in one go

So when you see large amounts in matched bets, it doesn’t necessarily mean that it’s just one trade. This is a fact you should always bear in mind as you can trade in a whole number of different ways.

Fundamentally, what we’re doing here back in Liverpool at a higher price, then laying them at a lower price and that would be a profit for us!

Now Liverpool did go on to win that match, although rather controversially, a VAR stepped in and basically disallowed a wolves equaliser, which would have made a bit of difference to the championship race.

Anyhow, we have two examples that show a very long term trade and an example showing a very short term trade.

Case Study 1: Liverpool v Everton – returning closer to kick off to more profit

Now if we return to the Liverpool v Everton match, as I mentioned at the start, we were looking at odds of about 1.45 when the fixture was announced which we looked back all the way in early December. When we started there wasn’t a huge amount of money within the market, but as the market developed and matured, then other people began to cotton on to the fact that we could be in a situation where the team was going to be a fair bit weaker than we would imagine.

So we saw a little bit of a drift from 1.45 out to 1.70. Then when we actually get to the day of the match, the price had drifted a little bit further to 2.25.

Showing the change of the price

The interesting thing about this was that it was impacted by two team sheets. This is why I’ve illustrated this, because it’s over a much longer time period, but also the actual trade itself had some sort of variation within it on the actual day itself.

Typically, you would wait until the team sheet is announced, which is about an hour beforehand, then it’s a case of who’s the fastest on the bottom to be able to get the trade in. Sometimes if the team is radically different, the market will take a little bit of time to discount the information. But if the team is a little bit different, then you have to be quick and jump in to take advantage of it at that particular moment in time.

Therefore, on the day of the actual match itself, we got to 2.25 and the interesting thing happened in this particular market…

You see the under 23 team were playing on the that same day and there were rumours swirling around that Liverpool wasn’t going to put out their full team at all – they were just going to stick out a bunch of youngsters.

The Liverpool under 23 team on that day

So the interesting thing about this particular trade is that on this day when the under 23 team was known the market certainly reacted to that. You see through a process of elimination, if they’re not playing in the under 23 team, then they’re probably going to be in the first team.

Now this was one of those rare situations where you actually get something like a double bubble. We were able to get in a low price very early on, the price started to adjust to the realistic expectation of a team that was likely to put out.

See, with all of the news coming from the Liverpool camp that they were going to rest a lot of players alongside knowing that we had the under 23 team playing on the same day, you sort of get a look in to what the team sheet could be. If they’re not in the under twenty three, then may have made it in to the first team!

Upon that news being announced, the price shot out and then eventually the full team sheet comes out where people can confirm what they know. This makes the prices peak even more, moving out towards 4. Remarkably looking back at this trade to where we started, the market opened at 1.45 where it was generally trading around that price before gradually drifting out.

But imagine if you laid Liverpool at 1.50, going slightly above where the market opened, and then you traded out at 4, you would have made about £1600 fully hedged across the entire market.

So the £1000 would have turned into over £1600 through the course of that entire trade!

See the interesting thing is, whenever you look at this and I’m giving you the best case scenario here, if you had spotted it early, got in early and you had a £1K to use, that would be your best return.

However, all the way through this you can see there were various points where there were opportunities to make money. Even when the team she was announced, the market just surged away. You could have probably even backed it at 4 and waited for the market to settle back down because that even looked a little bit over the top. If you were trading at live you would have seen the market run away very quickly and there seemed to be a whiff of panic within the market which then gradually settled down.

Whichever way you traded it, there were just opportunities all over this market! Whether you got in at the beginning, got in on the under 23 news, got in on the drift that was occurring as people began to realise what the situation was or on the actual release of the team sheet, you could have done a lot of damage there.

So how often do these kind of opportunities arrive?

Liverpool were the Premier League Champion ‘s for 2019/2020

These opportunities do come around quite frequently and they tend to come about when there are a lot of injuries or when there’s a fixture congestion of some sort. You may also catch them during cup competitions, when teams are less likely to field their stronger side. There are opportunities like this plastered all over the market!

The way that we exploit them is ahead of any particular team news that will put a position in the market, most of the examples I’ve given you here are laying it at a certain price and then backing it at a higher price.

You can even get Bet Angel to monitor the markets for you as well, and that will tell you what type of activity is going on there. For example, when you look at some of these markets and the price starts to move, that will necessarily drag a lot of money through the market and Bet Angel can spot that and alert you even if you’re not looking at that particular market.

Check out the forum linked here for more information on how Bet Angel can help alert you: https://www.betangel.com/forum/viewtopic.php?t=16754

These are fairly simple trades to understand and to gather how they were created. Even though it is very simple to understand, what you’re looking for it is ultimately very profitable. There’s no better feeling to have made a profit (and hopefully a substantial one!) before the match has even kicked off.

That’s one of the absolute beauties of trading on Betfair which is something that you just can’t do with a traditional bookmaker. You’re just stuck with whatever price you get, but by using this particular method and keeping an eye on how the markets work, you’re presented with some absolutely fantastic opportunities.

I hope this is helpful as we begin to enter the busy football period in the UK and let me know below if you have achieved any great trade pre-match in the past!

The post Profit on a football match before it even starts appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Betfair account closed, suspended or restricted?

When you open a Betfair betting exchange account, one of the great advantages of betting on the Betfair exchange is that they won’t close your account if you are a winner. I’m a long term winner over a large number of years and can confirm that this is a perfectly acceptable outcome on a betting exchange. Phew!

But there are reasons why your account may be legitimately restricted. Unfortunately, most of the Betfair help desk staff won’t understand these issues or discuss them properly on the live chat. So I thought it was worth documenting them for anybody affected.

If you find yourself locked out of your Betfair account, have a read of this blog post, but also visit our forum where you can get help from people who can immediately advise you. If you are worried about your account being restricted or closed, reading the following advice should re-assure you about what you should do to avoid this scenario.

So let us find out the reasons why your account may be restricted and what you can do to avoid it or get your account re-opened or reinstated.

How do I know my account is closed or suspended?

The first you may know that your account has been suspended or closed is via an email or when you try to login with your username and password to your account. At this point, you may be notified that you have either done something wrong, or something is wrong with your account.

Probably your first port of call will be with Betfair customer service and this will resolve certain issues concerning the suspension of user accounts, but not all. If your account suspension is towards the bottom of this list, your standard support person will only get a message and not be able to remedy your issue. You will hit a brick wall.

Therefore, we will list not only the most common reasons for suspension, but also the paths you can follow to remedy them. Especially when you get stuck at Betfair customer services.

Betfair account suspension – Easy to solve

Account pending password change

If you get this message when you try to log into your Betfair account via some API software, this means that your account has been locked because of a failed login. This is easily resolved by attempting to log into your account directly on the Betfair web site.

If you try this and it fails, a password recovery process will start. This will use the information you have previously supplied in your account. If that fails, you would then need to contact Betfair customer services to re-validate.

Self-Exclusion

In some cases, you may have chosen to have a period of temporary or permanent self-exclusion. For the temporary self-exclusion, it is possible to have the account reactivated by contacting Betfair customer service providers. However, if it is a permanent self-exclusion, it is not possible to have the account reactivated. This is permanent and will not be reversed under any circumstances.

If one gambling company merges with another, then it’s not impossible they will try to combine operations. If you have excluded yourself from a connected company, you may find the database matches your exclusion as well and your account defaults to exclusion.

Account verfication

One of the reasons why a Betfair account may be shut down temporarily is that there might be some issues verifying the account. There is an entire section on the Betfair account page when you log in which tells you exactly how to verify your account and what is required to do so. If you are stuck, the Betfair help desk can get involved to nudge the process along.

If you fail to verify your account you will be unable to withdraw any funds and your account is likely to be suspended without notice. So make sure you make the effort to get verified. It’s a pretty simple process and should be the first thing you do when you sign up.

Betfair account suspension – Complex issues

When we talk about more complex issues, these are issues where a quick chat to Betfair customer support is unlikely to resolve your problems and you will end up talking to Betfair at a much more elevated level.

Some are a bit more complex than others, but some there is a clear and obvious process to get the account reviewed.

The account owner and user are different

This is linked to the ‘account verification’ process. If there is a situation where there is ‘reasonable’ suspicion that the owner of the account is not the same as the person running or using the account. Betfair will suspend the account and start an investigation.

There are many reasons why this is clamped down on, one will follow this paragraph. But this is incorporated in their terms and conditions so be aware that you could be in technical breach of terms if this is what you are doing.

Premium Charge Avoidance

This is linked to the previous reason. You may think that a ‘neat’ way to avoid the Betfair premium charge is to simply trade on somebody else’s account. This is what some people ‘claim’ to do. But from personal experience, I can tell you that if you are a moderately sized trader then Betfair with obviously see your profits drop dramatically, only for some random person to suddenly become a brilliant trader. It’s a bit of a dead giveaway that you are using somebody else’s account to avoid paying premium charges.

Your account will be suspended pending an investigation and you will likely forfeit your balance to make up any unpaid premium charge. You have been warned, read the thread on the forum if you want to see this happen in real life.

There is no process to appeal this and you will contacted, probably by the pricing team, at Betfair.

Suspected Money Laundering

Betfair and other betting companies are legally obliged by the governemnt and regulators to be red hot on money laundering.

Most bookmakers have very advanced fraud preventions systems which are also geared to spot unusual activity. So if you are thinking of swapping money between accounts by taking advantage of thin markets, watch out! It doesn’t mean you will definitely see your account shut, but it will almost certainly get flagged in a few milliseconds.

You may also send up a flag if you deposit and withdraw money too many times in a short while and other such similar activities. Account reviews in these sorts of circumstances can be long-winded and tough to prove, but if you are innocent then that will shine through.

However it can take a lot of effort to prove exactly what you were doing, so it’s better to avoid any sort of activity that could fall into that trap. But all genuine cases get resolved in my experience.

Account closed due to a commerical profile usage

This issue requires a more in-depth explanation as it can occur due to overuse of practice mode. Why will be explained towards the end of this section. But let us explain what a ‘commerical usage profile’ is.

Betfair considers it’s data and your bets, propertiety information owned by them and they want to protect this. Betfair doesn’t want to share its (your) pricing of its markets to any competitors, as this may confer a business advantage. After all, betting exchange markets are more efficient and often better priced than a traditional bookmaker.

In days gone by, bookmakers would price their own markets. But in order to not get caught by people arbing, or just a gamble in general. All prices in the industry tend to converge and betting exchanges are a key part of that mix. You can bet more on an exchange, so it tends to lead the price action.

Betfair charges commercial organisations large fees to access its data. Therefore if you create an account and just read data from markets and never place a bet, it will look suspiciously like you are just harvesting or relaying data. Therefore your account will be limited so that it fails to function correctly.

This can happen if you use Bet Angel in a practice mode and never place a bet. Betfair has no idea you are in practice mode, so as far as they are concerned you are probably harvesting data. Restricted data or refreshing also occurs if you have no funds in your account.

It’s easy to avoid falling into this trap, as all you need to do is fund your account so you are positively indentified and then make sure you place real bets or Betfair trades on a regular basis.

If your account is restricted in this manner check out this forum thread for how to appeal a restriction – https://forum.betangel.com/viewtopic.php?t=15692

Betfair Account closed on business grounds

This problem is very similar to the previous issue but is slightly more nuanced as it’s more based around your activity against the amount it can generate for Betfair.

Like all businesses, Betfair is, err… a business and if you hammer the exchange, like refreshing it frequently and placing few bets there is little incentive for Betfair to service your account. If they allowed people to hammer the exchange without any revenue, losses would soon rack up and they would go out of business. Nobody wants that!

Before you panic, Betfair don’t close accounts like this lightly, they are only looking at real outliers.

For example, we were recently following a case of a user who accidentally racked up millions of refreshes on top of their usual activity and had his account suspended. But on review, it was fairly obvious what had happened and all was well and good again.

Using streaming on Bet Angel will significantly minimise any chance of this happening. Also using the many features within Bet Angel’s Guardian tool will help you manage your activity and market searching in a carefully controlled manner. Curiously, the Betfair website is much less efficient and more likely, when used with software, to generate a lot of activity while not immediately generating any revenue for Betfair.

The appeal process to this is the same as listed here.

Summary

Betting exchanges are the only place in the betting world where you account will not be closed if you are a consistent winner. I opened my account 20 years ago, have been very succesful and still enjoy the many advantages of betting exchanges.

However, there are a number of regulatory hurdles that all betting companies have to adhere to so make sure you are aware of this and fullfil your obligation to be compliant.

Betfair is also a business, and while they can be a bit heavy-handed and clumsy at times, our experience is if you have your account accidentally closed or limited, then it’s very likely this will be reversed. Our discussions with them indicate the number of accounts affected is very small in comparison to the total user base and truly errant closures are often reversed.

But to achieve that, you may need to go beyond the helpdesk as they will not be aware or have the authority to look any deeper.

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Bet Angel – Betfair trading software – How to buy

Buying a serial number

If you wish to use Bet Angel, you will need to purchase a serial number. Buying a serial number means that when you next log into Bet Angel you can register the serial number to extend your access to either Bet Angel – Trader edition or Bet Angel – Professional.

Registering a serial number

Once you have a serial number, simply start up Bet Angel and register the serial number during the log in process. If you have validated your email on Bet Angel, it will automatically look up and apply any serial numbers that are within one month of your renewal date.

If you are within one month of renewing your subscription to Bet Angel, registering a serial number will simply add it to your existing term, meaning that you do not have to wait for your existing term to expire.

How to purchase a serial number

Purchasing a serial number to register on Bet Angel is easy, just click on the links below and complete the purchase process and you will be sent a serial number.

Bet Angel costs much less than you would think, with Bet Angel Trader starting at only £5 per month and Bet Angel Professional £12.50 a month.

Bet Angel Professional

5 days – BUY NOW – 99p per day

60 days – BUY NOW – £20 per month

365 days – BUY NOW – £12.50 per month

Bet Angel Trader

30 Days – BUY NOW – £6.00 per month

365 Days – BUY NOW – £5.00 per month

The post Bet Angel – Betfair trading software – How to buy appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.