Ever since the emergence of Betfair in the early 2000s, the lure of its unlimited betting has been a great attraction for punters.
Previously with the bookies, there was always the possibility of having your accounts closed if you were a winner.
But Betfair came along and changed all that. They allowed you to bet against other punters and didn’t care if you won or lost – they make commission regardless.
Indeed, their early slogan was “we welcome winners,” playing on the big USP they had over the traditional bookmakers.
With the potential to make as much money as you wanted, there were also a multitude of other possibilities with Betfair. Suddenly you could trade the sports markets like people had traded the financial markets for years, buying and selling in various markets to lock in a profit, regardless of the outcome of the event.
Countless systems and strategies have been developed to try and capitalise on these opportunities, bringing an almost mind-boggling choice to the punter.
Weight-of-money (WOM) trading, hedging, lay the draw, bots, software and all manner of schemes were dreamt up to try and cash on the promised riches of Betfair.
It can be a little overwhelming to make sense of all these systems and separate the wheat from the chaff as it were.
Which of these systems actually works? How much money could you actually make? And what kind of bank size do you need?
In an effort to navigate these vastly complex waters and find answers to the questions, we embarked on extensive testing of as many of these Betfair systems as we could.
So, with a good few years under our belt now, are we able to answer the question of how to make money on Betfair?
Below is our list of the best ways to make some cash from Betfair.
How to Make Money on Betfair – Top 5 Ways
1. Betfair Scalper
The beauty of the Betfair markets is that you can approach them like a trader would approach the stockmarket.
There is so much liquidity in certain markets and so much movement in odds, that with the right tools at your disposal and the right know-how, you can operate as an expert trader without having to predict who is going to win an event. The art of skimming off profits from small movements in odds is called “scalping” and it is a tried and trusted method used by traders across the world on various platforms.
Knowing how to scalp successfully is another thing however. This is where our top recommended system for Betfair comes in – appropriately known as “Betfair Scalper.”
It is essentially a training tool showing you exactly how to scalp the horse racing markets to regularly and consistently skim small profits. It contains over 10 hours of training videos and is for everyone from complete novices up to experienced traders.
We tested Betfair Scalper for over three months and made 9.2 points profit in that time, with nine out of ten of our trading days finishing with profit. The scalping is remarkably simple to do and once you have got the hang of it, it will become almost automatic.
Although the amounts you will make per trade are small, repeated over and over again they will gradually add up and before long you may well have accumulated very decent profits.
Overall Betfair Scalper is an excellent product for making some money on Betfair.
2. Goal Profits
The most popular to sport on Betfair, as you would expect, is football (or soccer to our American cousins). For those of you that love the beautiful game, there are almost non-stop matches to trade on Betfair, all day and each day of the week.
So it is no surprise that a multitude of trading strategies have been developed for football on Betfair. Goal Profits is a package of over 30 trading systems, covering a range of approaches and styles of trading to show you how to make money on Betfair.
It has won a number of awards as the top trading system on Betfair and has a huge legion of fans. The Goal Profits system includes a comprehensive training package, including videos and guides, as well as a forum to follow the live trades of the professionals.
There are some members who even claim to be trading full time based on the strategies in Goal Profits, which is pretty impressive stuff. Now obviously we can’t verify that for sure, but given the level of support there is for the Goal Profits outfit, it doesn’t too outlandish a claim.
It it worth noting that their trading strategies are enhanced by a huge database of stats they have created that covers leagues from all over the world. These stats give a value rating for a range of markets, giving you guidance on which ones to trade. For example, if there is value in the over 2.5 goals market, it may be advisable to trade some of their strategies that involve high scoring games.
Ultimately if you want to make money on Betfair then using a tried and trusted strategy like Goal Profits, with a wealth of support and a large community of members will probably give you a better of chance of succeeding than just going it alone.
3. Exponential Bet
Exponential Bet is a suite of trading systems and it has recently developed some very exciting software that allows you to automatically copy their trades on Betfair.
So in essence you can copy the trades of a professional without having to spend hours in front of your computer or studying complex guides and charts to try and find suitable trades. Everything is done for you on the cloud, so you don’t even need to have your computer running all day or worry about it crashing!
They primarily focus on the horse racing markets and specialise in Dutch betting, where they have an excellent long-term record and did very well during our live trial, making 33 points profit. Their previous systems made over 600% profit which is extremely impressive.
More recently they have moved into the football markets and soon will be releasing some auto-trading tools for that too.
If you are looking for some great strategies to show you how to make money on Betfair, then Exponential Bet is a very solid option.
4. Betfair Renegade
Betfair Renegade is a betting system for use on football matches on Betfair.
It uses a clever piece of software to find value in football markets with live data. It is very simple to operate – just open the software and it displays all the potential value bets available currently. Each has a rating, based on how much value the software calculates there is in the particular selection. You are advised to only bet on those with a rating above 10, but of course you could go below this if you wanted more selections and were happy to accept a lower edge over the market.
We ran a live six month trial of Betfair Renegade, during which time it made 233 points of profit. This was achieved with a return on investment of 14%, which is very good for football betting, where you normally find that anything approaching 10% is impressive.
Betfair Renegade is currently only available on a limited basis as part of the Profit Maximiser matched betting package, which we have reviewed separately and given a 5 star rating to and is the number one betting product we have reviewed so far.
So before signing up to Profit Maximiser, it is worth contacting the owner Mike Cruickshank at email@example.com to check if Betfair Renegade is currently available as he limits the number of copies sold.
But if you are able to get your hands on, it is well worth doing so.
5. Pre-Match Trading
You might not think that trading markets on Betfair before the match starts would be a very lucrative strategy.
However, a system developed by the same team behind the Football Trading Alerts above does exactly that.
Often the markets in football matches are in a state of flux before the game starts, with related markets moving in and out of sync. When they move out of sync, there is an opportunity to pounce and make some cash.
What Pre-Match Trading does is use software to analyse all the market data and pick out odds that are out of line with what they should be, taking into account all the other markets for that match. So if you take into account all the over/under markets, match odds, number of goals etc, there should be pre-defined odds for what the correct scores should be.
But this doesn’t always happen, so you can be left with odds that are higher (or lower) than they should be. Our live trial of Pre-Match Trading showed that is was consistently able to identify when this happened, thus allowing you to execute a profitable before a game has even kicked off. So you don’t need to even find out who wins the match, just enjoy the profits you have already taken.
The amount you win on each trade tends to be small, but doing this early and often can quickly build up over the course of a month to a decent tax-free second income.
It is an imaginative approach and clearly an untapped market, as we haven’t seen this approach tried anywhere else. Worth adding to your betting portfolio to make some cash out of Betfair.
The question of how to make money on Betfair is not an easy one to answer. Although the exchange welcomes winners and won’t close your account down for being in profit, it is still very tough to find a winning strategy that gives you an edge over the thousands of other punters out there.
However, the good news is that there are some systems you can use that have proven profitable under live trial conditions here at Honest Betting Reviews.
These systems listed above are all for use on Betfair, so you don’t have to worry about having bookie accounts.
They all rely in one way of another on computing software to find their value, which is the way that things are clearly going with betting and trading these days.
If you want to start making a consistent profit from Betfair, then we can highly recommend each of these systems listed above.
As always with your betting, please bet responsibly and only gamble with money you can afford to lose.