There are many ways to trade football on Betfair. From laying the draw to backing the favourite, we are used to many different methods. Some are more profitable than others. Some are more risky than others.
The main thing is to find a set of methods that you like, and which prove consistently profitable for you over time, and stick to these methods making yourself an expert in them.
We generally follow the Betfair trading methods employed by most professional traders, with a few tweaks to suit our own trading style and risk appetite. We often have the livescore alerts open all day, especially in the evening time as this is when Betfair trading is at its best, when many international football games are being played.
We also do pre match trading such as scalping and bookmaking, this is a very lucrative method for those who dont like the risks associated with in play betting. It is more sedate and calm, but can net a decent monthly return on any bank. It does however involve betting the whole bank which seems scary at first but it really isn’t, after all the match is not in play so there is no likelihood of a sudden game changing event like a goal, gulp!
Having said that, team news and anouncements can make a sudden change to the betting odds before a match kicks off, so even when scalping or bookmaking you have to be alert to the ladders and watch them constantly. We use Bet Angel for our trading software, and having used every betfair trading software out there, there is just nothing as good as Bet Angel.
Trading on Betfair is possible with various sports, from tennis to horse racing, football to golf and snooker. It is all about finding a niche within the betfair trading arena which suits you, and which you have a bit of knowledge in. Once you start betfair trading you can be sure your knowledge of your chosen sports will blossom and expand exponentially.
It is very easy to make a decent profit when trading on betfair. I have known people who make £10,000 per month doing this. One friend of mine made between £9000 and £11,000 every month for a year (even outside football season!) and then took a year out to travel the world, and has recently returned home to repeat the process again! I would not call this the ideal approach, as the markets change quite a lot over the course of a year, and taking a year out might cause you to miss out on something significant, so trading will seem quite difficult and foreign on your return, but hey, it works for him so good luck to him!
Good luck with all your betfair trades!