When should you spread bet?
There are often occasions when we have a real strong view and that is usually the best time to spread bet. Whether you punt on cricket, football, rugby or darts… if you think the industry has got it wrong then a spread bet is the only route. However, in e
11-Feb-2009
There are often occasions when we have a real strong view and that is usually the best time to spread bet. Whether you punt on cricket, football, rugby or darts… if you think the industry has got it wrong then a spread bet is the only route. However, in equal measure, there are also times that you should hold fire and wait until you show your cards. Here are some golden rules…
1) Know your worst case loss before you bet
Some markets are volatile and you must always ask yourself a question; what is the worst I can do? Plan for the worst and if you would not be prepared to lose that much in a betting shop then lower your stake.
Some markets are volatile and you must always ask yourself a question; what is the worst I can do? Plan for the worst and if you would not be prepared to lose that much in a betting shop then lower your stake.
2) Wait on the weather
It sounds obvious, but I've seem so many punters dive in on player performances or individual batsman test runs before they've seen the weather. It really is suicide to bet on markets like these the day before without knowing the conditions.
It sounds obvious, but I've seem so many punters dive in on player performances or individual batsman test runs before they've seen the weather. It really is suicide to bet on markets like these the day before without knowing the conditions.
3) Don't spread bet for the sake of it
Don't have a spread bet for the sake of having a bet; those bets often turn out to be the most expensive! One very successful punter once told me that the key to his success was his own self belief. In his eyes, confidence should determine stake sizes and ultimately any decisions on whether to trade. "One who has lost confidence can lose nothing more", he once reminded me.
Don't have a spread bet for the sake of having a bet; those bets often turn out to be the most expensive! One very successful punter once told me that the key to his success was his own self belief. In his eyes, confidence should determine stake sizes and ultimately any decisions on whether to trade. "One who has lost confidence can lose nothing more", he once reminded me.
4) Don't be afraid to close
It's very tempting to close a trade that's going well early for a profit and leave one running that's going badly in the hope that things will get better. Try and do the opposite and cut your losses when you can. Jump ship before it sinks.
It's very tempting to close a trade that's going well early for a profit and leave one running that's going badly in the hope that things will get better. Try and do the opposite and cut your losses when you can. Jump ship before it sinks.
5) Don't bet without research
It's no secret that Sporting Index makes more from reactionary trades during a match or tournament than on the long term markets which have been available beforehand for punters to scrutinize. There are so many statistics available online that you can do as much research as any market-maker and in some cases more.
It's no secret that Sporting Index makes more from reactionary trades during a match or tournament than on the long term markets which have been available beforehand for punters to scrutinize. There are so many statistics available online that you can do as much research as any market-maker and in some cases more.
6) Make your own prices before trading
Do your research first and then make your own prices afterwards. Only then should you look at what the spread firms are offering and see whether you and they have genuine differences of opinion. It's often too tempting to do it in reverse and end up clouding your own original view.
Do your research first and then make your own prices afterwards. Only then should you look at what the spread firms are offering and see whether you and they have genuine differences of opinion. It's often too tempting to do it in reverse and end up clouding your own original view.
7) Target long term specials
You've definitely got more of a chance, with plenty of research of course, if you focus on the more unusual markets. The trader will be less confident in pricing up something that he or his firm have never traded before.
You've definitely got more of a chance, with plenty of research of course, if you focus on the more unusual markets. The trader will be less confident in pricing up something that he or his firm have never traded before.
8) Be aware of changes in the game, e.g. new ball, substitutions, etc…
There is always a danger of being sucked in to buy a batsman or his team runs in a test match when he is knocking it all over the shop. Just be aware when that new ball is due, it might just be a few overs away and can change the whole match.
There is always a danger of being sucked in to buy a batsman or his team runs in a test match when he is knocking it all over the shop. Just be aware when that new ball is due, it might just be a few overs away and can change the whole match.