The first race of Formula 1 this season is Bahrain Grand Prix and Vettel will be starting from the pole position right in front of the two Ferrari’s. Formula 1 is a fascinating sport to be trading in Betfair for a change besides football or horse racing. Since each race consists of a 3-day event, there is plenty of time to trade the odds. At this time the odds pretty much reflect the qualification results with Sebastian Vettel posing as the favorite driver for the win tomorrow. What do the line graphs say though?
Vettel’s Betfair odds experienced an uptrend from 7.0 up to 10.0 but due to the qualification outcome the odds dropped to 3.00 in a snap. Not much to make out from this graph.
On the contrary, Betfair trading on Alonso’s odds did offer an opportunity for profitable trading when the support level at 4.00 was overcome and the Betfair trader could make some money by backing at 3.90 and laying at around 3.30 after the bottom fail. If however we are talking of a greedy trader, he would let it ride in case the resistance level broke at 3.00, but unfortunately for him the odds didn’t do that. Eventually he could have escaped with a small loss or win, but that would have been a really stressful situation.
Massa’s Betfair graph could have trapped an inexperienced trader by showing indication of an uptrend in the beginning. Although the line graph does include a top fail, quite a few traders would not exit their positions there. I can’t really blame them, but not exiting and entering in the other way when a downtrend was forming in the Betfair graph, would simply be suicidal. Winning in Betfair trading does not necessarily mean complicating charting and graphs, just simple trading analysis. Here, the trader should have backed at around 8.0 and now could safely trade out at 5.50 winning from a good odds movement.
The other drivers’ Betfair graphs may offer chances for Betfair trading, but the problem is liquidity. Liquidity is an issue in special betting markets at Betfair and I suggest you stay out of competitors or sporting events that don’t attract a lot of attention. You could easily be trapped and cannot get out due to lack of money available to be matched.
I hope you all did good up to now at the Formula 1 Betfair trading and good luck if you are live trading tomorrow’s race in Bahrain Grand Prix.
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Jim Makos
Jim Makos has been a professional gambler since 2003 when he first played Blackjack at the local casino. During the following years he developed online betting systems and became an expert in sports trading at the betting exchanges, mainly by scalping the betting odds at horse racing markets. He has also been a casual online poker player and shares his experience in his personal gambling blog. Forex and stock trading fascinates him and he is testing trading strategies based on technical analysis applied to financial charts. Follow him on Twitter - Find him on Facebook.
