As the sound bite from the Sky Sports Cricket Coverage goes.. “We dont like Cricket… We LOVE it” and yesterday i was certainly loving it! Which makes a change!
Cricket isn’t high on the list of my favourite sports to watch, mainly due to the length of time that the matches take to finish. I like to get involved in the T20 matches when possible, but normally one day internationals or test series matches are something I stay away from.
The profit from this screenshot might not seem like much compared to some of the big hitters which enter this market however I am personally very pleased with my afternoons work. I am the first to admit that my knowledge of the game of cricket is very limited and trading one day internationals isn’t something I have done much before either. However, I had a spare afternoon on Saturday with not much else to do and I thought I would give it a go with some low stakes.
So how did you do it?
Well, the main reason I am proud of that profit is because the stakes I was using were so small! During the afternoon, I never once had a liability higher then £20. My cricket trading strategy was the old classic “Buy Low, Sell high” and simply involved laying England whenever they went lower then 1.20. Obviously, with a view to greening up when their price rose again. Main reason being that it was clear that England’s price had been pushed too low, too soon.
Englands starting price was 1.70 and they had hit 1.20 halfway through their own innings! The markets are very efficient and England were rightly strong favourites at that stage however this doesn’t mean that their price wont still trade higher later in the contest and that’s exactly what us traders are looking for.
England went on to win the match, however there was one point during the contest where they had traded as low as 1.03 only to rise as high as 1.99! Look at the chart below and you will see just how many low-laying opportunities there were on this Betfair market.
I will certainly look to get involved with trading more of the Cricket matches over the Summer. The slow pace actually suited me as you have more time to make decisions which is crucial when you are a sports trader.
With millions getting turned over on these markets in every match, I wouldn’t mind a piece of that action!
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You really have to see it to believe it!