I have been trading Betfair markets on and of for 5 years now. During this time i have been hopping from one strategy to another every other day. This is something, that professional Betfair traders do not encourage to do. Actually, I think, that this is the biggest obstacle to becoming a Professional trader yourself. Success in any profession, even sports trading comes from digging deep into details and not giving up easily.
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If I did not see results from the strategies that I used, I gave up and tried another. I did so almost every day. Please, do not follow my path! Better, choose one sport or even a market in some sport, for example over / under 2.5 goals market in football, and stick to it and never give up, until you start to see results. The results in sports trading should be measured in long term – the shortest term should be a month. Do not measure your results from one day. because there may and there will always be bad days in sports trading.
So, I allready metioned, that I was not so good at Betfair trading. In the image below, you can look at my trading stats (the ones that was imported into MyBetLog.com statistics service). As you can see, I was in red zone all the time, there was some improvement for some time, but then I started loosing again.
If you look at the total traded markets number, then you should figure out, that I have spent many many hours trading Betfair markets. The stakes, that I traded with, was quite low, because I did not manage to catch the feeling that I could use larger stakes.
Ok, but lets get back to the topic of this article. I would like to share the useful tools, that I used to create various Betfair trading strategies and track my results. Lets start with tracking of betting results.
MyBetLog.com free sports betting analytics service
I am bit of analytics geek, that is why I like to track everything I do, that was the case with my poor Betfair trading results also. To analyze my Betfair trading results I used a free tool called MyBetLog.com. It is totally free of charge, but it is probably the best sports betting analytics service available.
If you are trading on Betfair exchange, then it is really easy to import your trading results into this service. You have to download .xml file of your profit and loss statement and upload it to MyBetLog.com service by clicking on the green “Upload file now!” button.
What is MyBetLog?
MyBetLog is an automated analytics tool for sports betting and sports trading data. Mybetlog allows it users to track, share and analyze their sports betting or trading performance.
Lets look at some other features that are available on MyBetLog.com sports analytics service:
As I mentioned, you have to Simply upload your profit&loss data from Betfair and tool will do the rest! Currently the data from these sports are accepted: Horse Racing, Tennis, Football, Basketball, Darts, Snooker, Cricket and Greyhound racing.
Tag and Filter
If you are testing out different Betfair trading strategies, then this free tool is what are you looking for! You can tag every market for different betting or trading strategies, sources or any other information you would later want to use for data filtering! Go and check out for yourself, what works and what does not!
In this free service, you will be able to make notes about different teams, players or race tracks or anything else that is important to you! You can later compare 2 players or 2 teams. Check out notes and your performance graph before trading or betting again from any place and any computer!
Oddschecker’s Dutching Calculator
When I was creating my betting strategies, I always used Oddschecker Dutching Calculator. This free tool allows you to calculate how much money you need to bet on each market that you are planning to use. For example, If you are are planning to make your trade around over/under 2.5 market and use Correct score market as cover for losses in football game, then you can know how much you have to bet on each market by entering the odds. Otherwise, it would be pretty difficult task, if you are not PhD in math.
What is Dutching Calculator?
Oddschecker’s Dutching Calculator tells you how much to stake on each selection to ensure an equal profit no matter which one wins. Simply enter the price for each of your fancied selections (in decimal format) and your maximum total stake below.
In big fields, no matter what the sport, more often than not you’ll fancy two or more of the possibilities. Rather than pick one and kick yourself when the one you neglected obliges, it’s sensible to ‘Dutch’ and back them all – and you can get surprisingly good returns as long as the prices are big enough.
Flashscore live score service
Flashscore.com, is one of the few websites that I am using every day. I am a big sports fan and I use it to check the results of last night NBA and NHL games. But when I was developing various sports trading strategies, I used it to calculate possible outcomes of my strategies from past results. If I invented a new strategy, then I went to Flashscore and tested it on past results of full season of Bundesliga for example.
What is Flashscore?
Flashscore is one of the most popular Live Score service. You can get live scores from almost all sports and leagues in the world of sports. If you are football fan, then you can get latest football scores and results of previous fixtures from over 1000 football leagues, cups and tournaments ( for example, Premier League, Bundesliga and UEFA Champions League ). You can look ar league standing tables, goal scorers, video highlights, yellow and red cards, goal alerts and other football live score information live.
Really useful feature for Betfair trading is the sound notifications. You can follow your own livescore selections, inform yourself about final football results as well as football livescores. The football livescore service is real time, you don’t need to refresh it. A complete list of sports and the number of competitions (today’s results / all competitions) in each sport can be found in the Livescore section.
Goal Profits team stats
Team Stats is one of the greatest tools that is available to football trading. These stats are updated daily for 65 worldwide leagues that Goal Profits service covers. You probably will not be able to add all 65 leagues to your trading portfolio, but you will have a vast choice of leagues that you can trade on.
This tool is used for doing research and analyzing different factors of a football game quickly. It will allow you to gather statistics for plenty of matches, save your energy and time, access base trades for more accurate and detailed information.
Goal Profits team stats are available only to members of this trading community. You can try out Goal Profits service for 7 days for only one £1. As the member of Goal Profits service you will also get access to their trading community, Live chat and support from two of the best football traders in the world.
If you are interested in this service, be sure to read my review of this service: Goal Profits review.