Trading sports good online football casino can be a really profitable pastime and as more and more people get involved that implies just one thing… liquidity. With the invention of the betting exchange and also the rise and rise of the main one, Betfair, there is increasingly more money being traded on professional sports.

From horse racing to tennis and football to greyhound racing there are several markets to select from and specialize in. There are actually even markets for financials and politics.

In-play betting and also the ability to place “lay” bets have revolutionized our capability to benefit from these markets (for anyone not in the know a lay bet is betting that an event will not occur ie a horse will not win a race). Just watch any in-play tennis match and see how the odds move. Making sense of these patterns and developing successful strategies to make regular profit is the holy grail for many people.

The fundamental theory behind all this is that you need to back at a larger price than you lay. It really is the same as business all around the world, you buy a product at one price and you sell it at another, the real difference between the 2 being your net profit.

An example is I back a horse at 2/1 for Ł100. That is 3.00 in decimal odds. If it wins I win Ł200 and obtain my stake back. Prior to the start of the race the odds come down to 6/4 or 2.50. I then lay it for Ł100 and should the horse wins I have to pay out Ł150. The main difference between my back winnings and my lay liability is Ł50. Which is what I would win if this horse wins and if it does not, I lose nothing! A cost-free bet. The really neat trick is to “hedge” your winnings out so you win the same amount regardless of what horse wins. Within the above example I could lay the horse for Ł120 guaranteeing me a Ł20 profit.

The most obvious problem is exactly what happens in the event the odds rise? You’re left with a bet you can not sell or get rid of without losing at least some of your stake. This is where the difference between traders and gamblers comes in. A gambler takes risks so that you can possibly achieve a profit. A trader is happy to take a series of small losses safe in the knowledge that the wins will outweigh the losses.

There are many and varied approaches to trading although the most important thing is discipline. As soon as you fail to close a trade which has gone against you you are no longer trading but gambling. Sure, you might get away with it but when it goes wrong you will certainly lose a great deal more than you bargained for. The very best way to focus your thoughts and prevent the gambling tendency arising is to work to strict strategies with defined entry and exit points.