Last Updated on February 27, 2013 by Sports Trading Life
There are different ways you can trade out of your position on Betfair and since we are dealing with Sports this can actually create opportunities that are unique to Sports Trading. Here are the different ways you can trade out on Betfair and this is worth having a think about if you are someone who usually opts for number one in this list.
Equal Profits Across Both Outcomes
This is the most standard way of trading out on Betfair. Betfair have even implemented this themselves in recent years with their “Cash Out” feature. This means you will be exiting your position for a guaranteed equal profit or loss on both or all outcomes.
The main advantage of this type of trading out is that it can save time and further decision making. Many traders simply want to take up a position, wait for what they need to happen and then exit the trade and be done with it. There is nothing wrong with this and it might free up your time and your bank for further trades but there are other options available to you which we will cover now that could lead to potentially bigger profits.
Here we have backed Hull with £100.
Hull take the lead and we equalise the same profit across all out comes. This is the most obvious way of trading out and is not much hard work at all since you can move on to your next task once this is complete.
However, if you are a little bit more creative then you can possibly make more profits as I will show below.
Another way to exit the trade is to simply back or lay the same stake on the same outcome. This will then give you a break even win on the other outcomes but a nice amount of green on the original outcome.
You might think it is not worth the risk of doing this since if that outcomes does not win then you have wasted your time however the potential for bigger profits does make this something you should definitely consider.
For example, here we have backed Nigeria to beat Mali @ 2.30 with £100.
Nigeria take an early lead in this match and we now have the option to “green up” and take a guaranteed £64.29 profit on all outcomes. However, you might decide that with Nigeria leading already and the result coming in then it is better to just leave a free bet on Nigeria with the potential for more profit. In this case, we will now make £90 if Nigeria win and £0 on any other result.
You might feel it is better to take a secured profit but in this match this is a potential extra 40% of profits which is not to be sniffed at. The final decision is, of course, up to you!
Skewed Profits on Both Outcomes
This is a way of trading out that not many newbies will ever consider and is usually reserved for those who are more advanced sports traders.
Instead of having an equal profit on both outcomes you will actually be leaving one outcome with significantly more profit then the rest. This way you will stand to make a bigger profit if that outcome does win, yet you will still at least make some profit if it does not win. This can be a great thing to do if you feel that one outcome has better value in it then the others.
For example, here is a recent match between Man City & Liverpool. It is early in the 2nd half and we have just backed Over 3.5 Goals @ 2.64 with £100.
Liverpool score to take the lead (1-2) and we have the opportunity to trade out of this match with a profit. However, since Man City rarely lose at home we feel there will be another goal in this match.
So instead of taking the equal profit on both sides we decide to weight it in favour of Over 3.5 Goals. In this case we stand to make £15 profit if it remains Under 3.5 Goals but we will make £60 if another goal is scored. This is opposed to taking a guaranteed profit of £37.15 regardless of the outcome and is a risk we feel is worth taking.
This way you are still making a profit on your trade but you are potentially squeezing more out of the markets by taking a chance with those profits.
At the end of the day, how you trade out really is up to you. However, the more extra profits you can potentially make all add up and increase your edge in the long run so this is important to consider.
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