In this video, I talk about the key differences between betting and trading.
I often see people talking about betting strategies, but then say they are trading. Some Betfair trading strategies look suspiciously like betting to me as well.
Having been somebody that actual bets and trades for a living the line between the two is clearly defined.
But generally, there seems to be quite a fog of confusion about what is actually a betting strategy and what is a Betfair trading strategy.
For me, there is a clear definition. Betting strategies tend to be heavily influenced by the actual outcome of the event, tend to stake only once and have a high return relative to stake.
If you are Betfair trading, your profit would tend to be outcome independent and your stake will be high compared to your return, and you can perform the trade more than one to recycle your money through the market.
Even then, I would insert other caveats because long term success when trading will all be about being the underlying 'natural' strike rate in the market.
#betting #betfairtrading #gambling
