Sports Spread Betting (Final)
I have been following Sports Spread betting, an excellent spread betting tipping service that costs ÂŁ25 per month.
The service itself is quite simple, you get an email late morning containing the bets for that day.
This leads to Caveat One. Like betting Exchanges, there are several suppliers but Betfair has the market; in sports spread betting, there are several suppliers but SportingIndex is effectively the player here. This means tens of people putting bets on, with one supplier, within minutes of Max’s email and the suggested price can disappear very quickly. In my blogs I have always recorded the price I got, often this differed from the price in the email. Therefore, I do have to also warn that because you may get different prices your experience could be different from mine.
It would be remiss of me to say that sometimes the price recovers, and Max does recommend the sort of price to take if suggested price has gone. Sometimes I even got a better price!
Caveat Two: before I get to the result, I must point out that spread betting is wholly different from bookmaker betting. Folks with a ForEx background will recognise you have a buy price, a sell price. Each bet has a stop loss to limit the losses.
I posted this blog in reply to a question some weeks ago, I hope it may be of use here:
The following is for illustrative purposes only and is not a recommendation on bank size or risk.
Bank size is a difficult question to answer as it depends on you and your attitude to risk. Spread betting isn’t like traditional betting, you don’t just slap a tenner on the counter knowing that, if the bet loses, you can only lose that tenner, but you also know the odds and therefore what your returns will be if the bet wins. Therefore, the traditional advice of using a 100-point bank (or thereabouts) doesn’t really work.
Yesterday’s 3 bets had stop-losses of 100, 150 and 200, so even at 10p per point (the stakes I am using because I am only betting to track results) I had £45 at risk; or 45% of my account to put it another way. You have to ask yourself whether you would be comfortable with 45% of a £1,000 bank at risk to use £1 bets. What would be your reaction if you lost 50% of your bank in one day (possible but not probable)? Does 25% risked of £2,000 sound better? That is using a £2,000 bank for £1 per point. Over 90% of a £500 bank risked for £1 per point doesn’t feel comfortable to me. You have to work out what level of risk you are comfortable with.
Perhaps the best advice I can offer if you go down this route is to use a ÂŁ1,000 bank (but ONLY if you can afford that, adjust this bank to suit you) and start with, say, 25p per point. If you are comfortable with that slowly increase the stakes to either ÂŁ1 per point or stop at the point where the risk has become uncomfortable. Â If you are new to spread betting, start small, get used to the setup before using serious amounts of money My initial bank was just ÂŁ50! 10p bets with compounding and ratchet has taken my bank to ÂŁ145 (+290%).
The trial ended up 853 points. Now because spread betting isn’t like bookie betting, I am not going to apply the unusual £10 per point, so £853 at £1 per point. Even taking £75 (75 points) off for subscriptions this is a very handsome profit. Below is the weekly balance Manhattan.
No surprise, this is approved.
You can get Sports Spread Betting HERE.
Hi
How is the stop loss for each trade worked out?
I have spoken to Max previously and he advices to let each trade run its course threw to the end of each Match/Race etc without any stop loss.
Cheers Andy
Hi Andy,
SportingIndex automatically apply the stoploss when you place the bet. For example, “Distances 1-3” has a 150 point stop and “Completed Passes” is usually 200. These are shown on the betslip as you enter your stakes and are not adjustable.
Arthur
Thanks Aurther
Is that the same for all the spread betting companies?or just Sporting Index?
Thanks again
Andy
Cant say for sure as I haven’t used other companies for some years. I’d be surprised if it was different with other companies though.
Thanks again Aurther.
Did you have any or see any future problems with account restrictions,by using the same company?
Andy
Not heard of restrictions, but possible I suppose. No business like this is going to make unlimited payouts and go bust. However, a bit like an Exchange, the company is offering bets on both sides, so their overall liability is manageable so it may take longer before you see account restrictions. There are other Sports Spread betting companies out there, so you could spread (no pun intended) your bets around.
Arthur