Do not try and compare your Betfair trading figures with others, they may well have started with a bigger bank, and their success has no influence or relevance on yours. Specialise in 1 sport and read and learn as much as you can. Understand how Betfair markets work, especially in the market you are trading on and in.

Get organised and be free of distractions. Never risk more than a small percentage of your overall funds or Betfair bank, the market can turn quickly, especially these days where big players and institutions can have a huge influence on the figures in front of you.

Listen to what the betting market is saying, you may have entered the market with conviction on a trade, however, if the market is signalling the opposite then take heed. Markets are efficient and all the information available is displayed via the prices.

Beware spoof money, this is money posted to lull you into believing that the selection is going to perform well or badly. Look at the average prices, and the highs and lows the selection has traded at. This will give you a snapshot of its Betfair trading range. Do not worry about losing, losses help you learn and teach you to be cautious.

If you are only risking a small percentage then your Betfair bank can handle this. Compare and contrast prices from all the Betfair selections, not just the 1 you are interested in.

You may have an event where plenty of selections are seeing support, you need to know this. Remember you are not looking for the winner, you are looking for a selection to move in your favour. Look at the worst-case scenario before you trade and have a Betfair exit strategy: Your internet connection may go down.

A horse may bolt to the start. A player may get injured in the warm-up. A manager may say we are putting out a weakened team. You need to know this as it will affect Betfair prices.

Enter the Betfair betting market when you are ready, in the sport or event that you have studied. If the market goes against you cut your losses, do not let losing trades run, there will be another trade along shortly.

Make sure your Betfair trades are: Small Wins Big Wins Small Losses Scratched You need to avoid big losses at all times. Imagine if you entered the market with the mindset of not losing as opposing to winning, would you be more cautious?

I suspect you would have that NO LOSE mindset at all times. Find your edge where you can profit from your research, and then enjoy winning on Betfair.

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You could be looking to trade pre-race horse racing or to do some football trading. But ultimately your role as a trader is to apply a strategy to a market, not to find some goose that lays fantastic golden eggs, because that is the hardest thing to do!

To find a generic strategy that works generically well in generic markets, applied to generic selections is just the hardest thing ever to do. You have to apply a strategy to a sports betting market, not look for a strategy full stop as the way to be able to make money.

If you have migrated to Betfair trading from matched betting, you will not be familiar with losses. But ultimately trading is getting a balance between profits and losses and you need to be able to afford to lose on occasions.

When trading execution can be an edge as well, what do we mean by that? So never forget that actually executing a trade can be an edge as well. The Betfair exchange is full of people trying to get an edge and profit, but if you want to profit in the long term you will need to beat others.

So remember to focus on how to do something as must as what you do. So being aware of that will help you, at the start. I know this is going to be disappointing for you, so one of the suggestions that I make to you is that you actually set up a trading bank, but you split that bank in half.

With half of that bank you play around, you get used to the trading process, you try a few things. However, in your mind you write off that money immediately, you split your bank in two.

Also, make sure you make full use of practice mode before you start with real money. This will help you learn how the markets work before you risk any real money. I also know at what point that trade will have gone wrong and therefore, I need to get rid of my position.

If something goes wrong, you can adjust your trading plan and take that forward with you to improve your trading. Also with a trading plan, you can practise on the execution of it without one. The way you think can be an edge as well, trading will force you to do all sorts of weird and wonderful things.

If you want an example of this, go into practice mode on Bet Angel trade a market and then actually go and flip and trade and live mode and just see how different your actions are when you actually have to use real money and bear real losses.

Working on that can also be an edge in your trading. Make sure you understand money management and your objective when trading, because if you fail to get that correctly, you will go bust.

So why not try automating some of your trading? Because that eliminates all of the emotional aspects of trading completely and it would give you a really firm base to work from. That will give you a great base to work from, even if you intend to manually trade.

Now, trading on Betfair and sports markets in general is similar, but not the same as trading in financial markets.

This is one of the things that catches people out on the trading sports markets and this is seasonality. Tennis matches are played on different surfaces over the course of the year.

You have the all weather flat season, you have the turf flat season, you have the jump season in horse racing, different incentives for football teams, different times of the year, different levels of fixture congestion etc.

Each sport has its own level of seasonality.

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Exchange Betting. Betfair Tips an Nigel Skinner Blog Content Manager Football Manager Expert and Political Betting Specialist across Exchange and Spread Betting Sites. My Betfair History It's around 15 years since I joined Betfair, and to be frank it's not all been a bed of roses, there have been plenty of thorns since I thought I would pass on some of what I have gleaned from this 15 year Betfair tenure, and hopefully guide those who are just starting out.

I have made plenty of mistakes on the Betfair exchange until I found out how to use the Betfair exchange. After 15 years on Betfair you can imagine I have watched hundreds of betting exchange markets and you would be right.

Everyone Makes Mistakes You will make plenty of poor decisions on a betting exchange. Market watching can be tedious but it's something that needs to be done if you are going to risk your money and ultimately win on Betfair. Remember this is a Betfair tips guide to using the Exchange and not the Betfair Sportsbook.

The Betfair Exchange Trading Guidelines Every time you watch a Betfair Exchange market you are banking that information in your brain, that gleaned information can help you in the future. Do not think of it as wasted time.

Do not think you need to trade every Betfair betting market, only trade markets you fully understand, and have followed over a period of time. Do not try and compare your Betfair trading figures with others, they may well have started with a bigger bank, and their success has no influence or relevance on yours.

Specialise in 1 sport and read and learn as much as you can. Understand how Betfair markets work, especially in the market you are trading on and in. Get organised and be free of distractions.

Never risk more than a small percentage of your overall funds or Betfair bank, the market can turn quickly, especially these days where big players and institutions can have a huge influence on the figures in front of you. Listen to what the betting market is saying, you may have entered the market with conviction on a trade, however, if the market is signalling the opposite then take heed.

Markets are efficient and all the information available is displayed via the prices. Beware spoof money, this is money posted to lull you into believing that the selection is going to perform well or badly.

Look at the average prices, and the highs and lows the selection has traded at. This will give you a snapshot of its Betfair trading range. Do not worry about losing, losses help you learn and teach you to be cautious. If you are only risking a small percentage then your Betfair bank can handle this.

Compare and contrast prices from all the Betfair selections, not just the 1 you are interested in. As a consequence, people tend to focus on one particular strategy.

There are many ways to trade in sport trading markets. You could be looking to trade pre-race horse racing or to do some football trading. But ultimately your role as a trader is to apply a strategy to a market, not to find some goose that lays fantastic golden eggs, because that is the hardest thing to do!

To find a generic strategy that works generically well in generic markets, applied to generic selections is just the hardest thing ever to do.

You have to apply a strategy to a sports betting market, not look for a strategy full stop as the way to be able to make money.

If you have migrated to Betfair trading from matched betting, you will not be familiar with losses. But ultimately trading is getting a balance between profits and losses and you need to be able to afford to lose on occasions.

When trading execution can be an edge as well, what do we mean by that? So never forget that actually executing a trade can be an edge as well. The Betfair exchange is full of people trying to get an edge and profit, but if you want to profit in the long term you will need to beat others.

So remember to focus on how to do something as must as what you do. So being aware of that will help you, at the start. I know this is going to be disappointing for you, so one of the suggestions that I make to you is that you actually set up a trading bank, but you split that bank in half.

With half of that bank you play around, you get used to the trading process, you try a few things. However, in your mind you write off that money immediately, you split your bank in two.

Also, make sure you make full use of practice mode before you start with real money. This will help you learn how the markets work before you risk any real money. I also know at what point that trade will have gone wrong and therefore, I need to get rid of my position.

If something goes wrong, you can adjust your trading plan and take that forward with you to improve your trading. Also with a trading plan, you can practise on the execution of it without one. The way you think can be an edge as well, trading will force you to do all sorts of weird and wonderful things.

If you want an example of this, go into practice mode on Bet Angel trade a market and then actually go and flip and trade and live mode and just see how different your actions are when you actually have to use real money and bear real losses.

Working on that can also be an edge in your trading. Make sure you understand money management and your objective when trading, because if you fail to get that correctly, you will go bust. So why not try automating some of your trading?

Because that eliminates all of the emotional aspects of trading completely and it would give you a really firm base to work from. That will give you a great base to work from, even if you intend to manually trade.

Now, trading on Betfair and sports markets in general is similar, but not the same as trading in financial markets. This is one of the things that catches people out on the trading sports markets and this is seasonality. Tennis matches are played on different surfaces over the course of the year.

You have the all weather flat season, you have the turf flat season, you have the jump season in horse racing, different incentives for football teams, different times of the year, different levels of fixture congestion etc.