Help

[Guest gazza271]

Hi Folks, Am venturing in here from the poker forum;) and need some help, Having never placed bets before i have found the pricely sum of £14.50 in my Betfair account, I know i got a tenner from a poker tournament and not got a clue where the rest has come from. What do i bet on ? Horses,Football etc I am a complete novice and have not got a clue as to types of bets etc, anyone point me in the right direction or give any advice ? Not even sure if this is in the right thread,If not mods plsease feel free to move it Ta:ok Gazza

[GaF]

Re: Help You could always use it in the Betfair Poker Room!! This uses the same account as the betting side. If you want to bet - then I would say bet on what you know - where you feel you have a "competitive advantage" over others. If you don't know anything about the horses, then not a good idea to gamble on the nags .... When I gamble I try and look for value. There's a famous saying in Poker - "Any 2 cards can win" - well I look at gambling in the same way - any result is possible - Take the FA Cup tie - Burton Albion v Man Utd - we all know that Man Utd are dead certs!! But that does not necessarily mean Man Utd are a good bet. Indeed it is possible Burton will thrash Man Utd 5-0!! What you need to do is look at the odds for an event - ALL of the odds and consider where the market is underestimating the chances of an event happening - that is where you want to get on and back a result - where the probability of an event happening is greater than the implied probability through the odds being offered. Again it's similar to the situation in Poker where you are on a Flush draw. If you have a 30% chance of making the nuts, which will win you the hand, and you have to put $5 into a $30 pot, then you have the pot odds to make the call, even though there is a 70% chance that you will lose the hand. You are playing value, which should in the long term make you a winner. Talking type of bets - the important distinction on Betfair is the Back (be a punter) or Lay (be a bookie) options - best way of learning this is to use the Betfair site that uses Play Money to experiment - http://www.playbetfair.com/