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Financial Betting

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  • 01-06-2007 5:11pm
    #1
    DonJose
    Registered Users Posts: 3,470 ✭✭✭


    Now that the footy season is over I'm concentrating on the financials with PP. I've placed two bets this week on the FTSE and won a couple of grand. The odds are good for this kind of betting at 5/6 and you have a 50/50 chance of winning. Unlike betting on football which has possible 3 outcomes, financial betting only has 2 outcomes, up or down. Unlike roulette which has similar odds, you can watch the market and then decide how to place your bet. Anybody else into this type of betting.


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    #2
    zuutroy
    Registered Users Posts: 6,854 ✭✭✭zuutroy


    DonJose wrote:
    The odds are good for this kind of betting at 5/6 and you have a 50/50 chance of winning.

    That doesn't sound good at all. It's a negative expected value. Reminds me of the bet on bwin where you can bet on who's gonna tip off a football match. They offer 1.85 on both teams....Who in their right mind would do that.


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    #3
    Chucky the tree
    Closed Accounts Posts: 19,341 ✭✭✭✭Chucky the tree


    zuutroy wrote:
    They offer 1.85 on both teams....Who in their right mind would do that.




    DonJose?


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    #4
    chump
    Closed Accounts Posts: 3,807 ✭✭✭chump


    I'd imagine the prices less commission are better on betfair?
    Particularly if the bets are going to be 4 figure sums, even 3.


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    #5
    bullrunner
    Closed Accounts Posts: 383 ✭✭bullrunner


    DonJose wrote:
    you can watch the market and then decide how to place your bet. Anybody else into this type of betting.


    be careful with that...market can change in seconds and fall/rise ! You know what they say..."past performance is no indication of future performance" even if the past is only a couple of hours ago! :)


    When PP started this they had a slow price feed and got picked off a lot by people..but they copped on and got a live feed and are more difficult to beat !


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    #6
    Bernard Hopkins
    Closed Accounts Posts: 404 ✭✭Bernard Hopkins


    you need to have some extra knowledge to bet here in my opinion,....... or else you may as well flick a coin on which way to go,.........

    your bet should have some backround information to judge whether the price goes up or down in the future.

    5/6 - 5/6 ...... is actually only 1.83 - 1.83. which is pretty stingy on an "over/under" market. you should at least be looking at finding 10/11 - 10/11
    even at that price, the figures stand against you,.......

    there is really no sure oppurtunity to lay-off a bet here either., as the bar changes and the 5/6 prices almost always stay the same.

    a very good site to have open is "newsnow.co.uk" which will keep a constant stream of financial information ,... hopefully enabling you to have an edge over the paddy power compilers.

    but dont forget,.. the bookies are professional layers, that make ginormous profits from mugs,.... they have a team of highly trained personell who are all out to get the money out of your pocket and into their pocket.
    its hard to get one over on them aside from being "lucky".

    best wishes,
    B-hop xx


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    #7
    DonJose
    Registered Users Posts: 3,470 ✭✭✭DonJose


    Bernard Hopkins wrote:
    but dont forget,.. the bookies are professional layers, that make ginormous profits from mugs,.... they have a team of highly trained personell who are all out to get the money out of your pocket and into their pocket.
    its hard to get one over on them aside from being "lucky".

    If the market is flat then you might as well flip a coin, but you do have an advantage if you bet near the peak of a 30-50 point spike. The odds are than after a 30-50 point spike in the FTSE there will be a degree of profit taking. Thats what I look for and I found two decent spikes this week and won both times, I'd never bet on a flat market, just on spikes.


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