For years the majority of bets on UK horse racing have been settled at Starting Price (SP). These odds are determined by the on-course bookmakers and represent prices available in the betting ring at the time the race started. Data explored in this work were captured from 1st of January 2016 to 17th of May 2016 for all GB WIN Horse Racing markets (total of 204 GB of data processing). Best found Strategy agent shows promising 83% Return on Investment (ROI) during simulated historical validation period of one month (15th of April 2016 to 16th of May 2016).
WHAT IS THEAPP DIRECTORY?Enhance your Exchange experience by using an App. Get up and running by following these five easy steps:. 1 Find out what Apps do by reading our learning articles. 2 Search for the best App for you by using the filters or search bar.
3 Learn more about the features and benefits and check the community rating. Many Apps offer a free trial – try before you buy. 4 Download the App from the vendor’s site by clicking the ‘Download’ button. 5 Use your Betfair account credentials to log on to the App.
Your vendor will provide guidance and support on getting up and running on the App.
In the right hands, Betfair charts can be incredibly powerful tools when used for reading the markets. Whilst no chart can predict the future, they can give us a great overview of what's already happened without needing any fancy software.Over time after trading a large amount of markets, you'll notice it's possible to start to noticing chart patterns that occur fairly regularly. They are rarely 'textbook' examples as every market is different, but they frequently have resemblances to previous markets.Don't worry if you've no idea what all those lines and numbers mean, I'll explain that now.Betfair Charts ExplainedThe PriceThe first thing (and sometimes only thing) people look at is the big red line going across the chart. You don't need to be a wizard to figure out what it means but for those who are unsure, it's a plot of the odds over time.
You can see in the example below that the price started around odds of 5.50 and finished up just above 2.50.As with the rest of the exchange, prices are displayed in decimal format.VolumeThe grey lines you see at the bottom of the chart indicate volume. Using the chart below as an example, we can see that the biggest matched bets have been around £4000. It's important to remember that volume doesn't take into account orders that have not been matched. If that were the case, volume lines would be all over the place as people place and cancel bets.Time StampCurrently there is no time stamp on charts provided by Betfair. If you're looking at a chart 30 seconds before a race, you'll often find that the right half of the chart is actually just a plot of 10 minutes before the off. The left half will represent the time from when the market is opened (usually a day before a race), to 10 mins before the off. This is just a rule of thumb.
If you want to trade using a chart with a time stamp, there are plenty of 3rd party programs that can provide that for you (found in the apps directory).Typically, you'll find that volume picks up 5-10 minutes before a race. This is when most traders are active in the markets as there is so much liquidity available. It's impossible to know exactly who is contributing to the rush of volume, but it would make sense that on-course bookmakers are laying off their positions and racing fans are placing their bets before it's too late.Putting The Charts To UseNow you know how they work, it's time to figure out how you should work with them.It's firstly worth remembering that Charts cannot predict the future. If they could, it'd be easy. They can only give an indication of what has happened in the past. Whilst we can look at historical data to help us make assumptions about the future, we should never rely on them as they are frequently misleading.You should always be considering multiple factors before placing a trade. Charts can only tell you so much (historical price and volume).
Without falling victim of information overload, you may want to consider what's happening on the video stream, orders in the queue, time before the off and other pieces of information before making a trade.Reading too much into early price moves can also be a dangerous move to make. Due to a lack of liquidity and market information, prices can be a little volatile when they are first opened. You should take the beginning of any chart with a pinch of salt or ignore it completely.Support & ResistanceSupport and resistance points are a common occurrence in sports markets.
In a nutshell, it just means that the market will frequently support or resist certain odds movements.An example of this would be if a horse is at odds of 4.50 and is attracting a lot of back bets. Typically, there will be some amount of support at odds of 4.0 as this is a crossover point, causing the market to stall.
If the backers are strong enough, the price will eventually push through the support level and go on to challenge other areas of support.Resistance is just the opposite. A resistance point is a point in the market that the price struggles to go beyond.Once you understand support and resistance, you'll start to see it more and more. Next time you're looking at a Betfair chart, try and point out areas of support and resistance. These are often crossover points or round numbers that bookmakers like to use. Being aware of common support and resistance points can be a good help when deciding entry and exit points.Avoid Tunnel VisionA single chart can only tell you so much.Sports markets are unique in that each outcome (winning horse, winning football team etc.) correlates in some way with another. It isn't always this obvious but as a rule of thumb, if something goes up, something must come down.It's easy to become obsessed with one particular chart, especially if it's showing some classic pattern or is steaming in. However, doing so can be dangerous as you lose focus of the bigger picture.
You should keep an eye on charts of other horses even if you aren't trading them. Doing so can give you clues as to what might happen elsewhere.Now you should have a good understanding of Betfair charts, how to use them and how not to use them. They are just one of many sources of information you should be considering before making a trade. Use them to your advantage but don't let them rule your opinion.See a Betfair Chart explanation via.You may also be interested in.For a selection of Betting Apps for please see the.