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The first step is to get a good idea of how the favourite’s price moves in the last 10 minutes before the Off:

Day 1:

Log into Betbubbles about 10 minutes before the first UK horserace is about to start and open that race in the main display window, selecting the Ladder interface.

The Favourite horse in the race will be displayed in the first ladder on the left. The favourite has the lowest price of all the runners in the race and is where the majority of the money will be traded in this race.

As a scalper you are looking for volatility and liquidity and the favourite provides this better than any other horse in the race.

As the race gets closer to the start time you will see that more and more money starts being bet on the favourite and that it’s price will start to move about more.

The advantage of viewing the price on a ladder format is that you can see the price moving literally up and down as it trades allowing you to more easily visualize what is happening.

As you don’t know anything about this horse at all (Knowing nothing is an advantage) your job from this point on is to stare at this price until the countdown clock starts flashing at zero. Don’t trade.

If you have only ever seen Betfair prices on the Betfair website then prepare yourself! Viewing prices in real time you will realize that Betfair is an extremely active exchange that behaves just like any other financial exchange. The favourite’s price can get extremely busy, especially as race time approaches. Spend today adapting to how Betfair really is and don’t start betting or trading for the sake of it.

As you watch the price moving up and down try to visualize exactly what is happening and why it is moving up and down the way it is. Watch the effect that large bids (amounts wanting to Lay) and Offers (amounts wanting to Back) have on the price and how quickly those large offers get matched, cancelled or moved.

Watch how the bids and offers at each price build up and reduce in size while moving up and down, changing from bid to offered and vice versa.

Keep watching and observing until the race is about to start and the countdown clock is flashing at zero. Then right click on the market tab at the top of the page to close the race. In the left hand menu click on the next race, starting in 10 minutes time, which will then display in the main window.

Select the Ladder interface and watch the favourite’s price moving up and down in the ladder like you did in the previous race. Don’t trade or place any bets.

Repeat the above process throughout the whole race card without doing any trading. If you place any bets and start trying to trade you will spend the time hoping that your trades win instead of accurately observing how the prices move at different price levels and volume levels.

There are about 20 races each day so by the time you have finished you will have watched about 200 minutes of price action on every favourite. You won’t have wasted your time doing random bets and will have a better idea of how prices move without being distracted by your own profit and loss figures.

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