Just thought I'd share a few things that people should know before they jump into trading tennis. I'm not going to detail strategies in this posting, my intention is to post a few noteworthy things to consider... consider these the equivalent of tennis trading health warnings.
If you are used to trading horse racing or similar, then you need to be prepared for the fast paced nature of the game. (We are talking about trading the match during it happens.)
Unlike pre-race horse racing markets, the movement of the odds is going to encompass the full range of possibilities, from 1.01 (1/100) to 1000 (999/1). I'ts not uncommon for a short odds favourite to drift out several times or indeed go on to lose.
The odds are going to be volatile. It's easy to get on the wrong side of things quickly if you don't know what you are doing.
Get used to cancelling those bets! You post up a bet before a point is played, the player you are backing loses the point - cancel it very quickly! Otherwise your bet will be pinched off the screen faster than you can blink. Why does this happen -
- The point was lost and this, no matter how small a factor it seems to you, affects the probability of winning the match and hence the price.
- There are people that make a living (not me) by "hoovering" up out of date bets on players as they lose the point.
- They do this by either having a faster satelite feed, by being courtside or in a location where it is being shown on terrestrial tv - debate is rife about which of these it is. All you need to concern yourself with is making sure you are not giving them free money by being slow to react.
- There is absolutely nothing wrong with cancelling your bet on every point - remember you want a bet that's good for you, not one that's going to feed someone else's family after every single point.
Get to know the players, their strengths and weakness and their personality. Watch body language.
Look at the scoring system, notice how it works and notice how it affects the probabilities of each player winning, this is important.
The surface they are playing on is important, the players cope differently with the different types - clay, grass, synthetic, hard, indoor and outdoor.
As with any market, be warned you are up against some people that do this for a living. They have very quick reactions, they are very good at reading the game and knowing the probabilities. It's a big market, and it attracts the big players because of that.