Mark Iverson has been betting on Cricket full-time for over 10 years. Known in the Betfair Trading world as a professional he speaks about his experiences with Cricket, Betfair and how it’s impacted his life. Check it out, it’s an extremely insightful one…
Also see a recent upload here:
Timestamps
0:17 The order of discussion on this call
0:42 How Mark Iverson got started with full-time Cricket betting
2:15 When Mark went full-time betting and trading
3:01 Part-time trading experiences in the early stages
4:02 What trading in the early days of Betfair was like
4:31 The transition to betting for a living
6:26 Coping with the highs and lows
8:04 Relationships with family and betting for a living
8:41 Premium Charge and cricket on Betfair
11:50 How India liquidity has changed in Cricket
12:53 API-NG changes and their impact
13:53 How Betfair Sportsbook has changed Cricket trading
15:26 The dream killer
18:07 Dealing with outages on Betfair Exchange
22:22 How has Cricket changed your life
22:54 Questions and answers from followers
#Cricket #CricketTrading #Betfair
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This weeks interview is with Mark Iverson a Cricket betting and trading expert.
Link do Vídeo
Previous call with Smarkets CEO Jason Trost: https://youtu.be/3f80pBKThZU Check it out!
why is it on these gambler videos its all chat and patting each other on the back when us gamblers actually want to see these so called pros doing the bets and seeing how they pick their bets
There will be new enchange In crypto so finally betfair will have competitor so would be good for us
I wander if Mark uses bots like BF bot, Bet Angel when it gets to a point of hating watching all these games and burning yourself for being a slave of your chair
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Great interview. I love trading T20 cricket. The wild price swings make it perfect for traders.
Thanks for this, really great interview. I'll be watching the rest of your channel Caan, the best content I've seen, and I've watched loads on youtube. I'm glad you're being renumerated for your time.
Its called Betfair not TradeFair. Maybe they should change their name. I agree they should have a mechanism of some sort to help with regular Traders who get their paints pulled down when a outage happens on a more than regular basis.
Great vids these, really insightful in eveery aspect, esp in so far as how trading can effect/influence family life etc, real 'behind-the-scenes' stuff and great to get familiar with other full time pro traders of which I am not one – quite just yet!
Another great discussion and video Caan, really interesting and insightful from both yourself and Mark. Keep up the good work!
Great stuff Caan and Mark 👍🏻 regarding the PC, I don’t think betfair want traders any more, there was a time when they might have been good for liquidity but then BF realised it was emptying the machine they were scraping 5% from. As a newish trader it certainly does put me off going too far with it as you can easily see a point where it doesn’t look worthwhile, as Mark pointed out in the vid.
Great interview, I have always liked Mark, he speaks very candidly and also with a 'put yourself in their shoes' perspective. If Betfair does become untenable I'm sure he has a future in public speaking or similar, very engaging.
Any good strategies for cricket.
I've actually told my gf not to ask how much ive made as she was putting a "you were on for 3 hours & broke even?". Told her she shouldnt be able to tell if ive had a good or bad day I'm going through my process. The results from yesterday are irrelevant good or bad. Anytime I've thought about money I loose so ive tried to accept losses & wins with humility
Do you have someone from Betfair? I seen Conor Grant CEO of Flutter gave an interview to a gambling podcast but no real probing questions
Hi great video lads. Can anybody please explain the difference between the two premium charges please? I no there is one set at 20% for 100k profit customers but not sure what the criteria is for the higher bracket ???
Hi Caan. You keep on talking about premium charge on Betfair when traders become profitable. My question is what is seen as profitable? ie. Are you profitable when you have more £ in your Betfair account than what you have deposited or are you seen as profitable as soon as jy start withdrawing money from your Betfair account ?
I need a betting exchange in the usa is there anything to do
Brilliant video again love the interviews cannot wait for next one 👍👍👍👍👍👍👍
Some Fantastic content being made Cann keep it up. Like star sports quality without the bog standard presentation team.
mark is spot on , on the premium charge killer , i was living from betfair but not a huge winner , just a barelly on the winning line of the premium charge and they killed it , no point for me
Hahaha, outage on a feature race! Tsk tsk…Great discussion, two great traders, cheers.
Nice video and have read the vast majority of Mark's old blog so good to see this.
To be honest, I still struggle somewhat with the concept of an edge in trading live events where 1 moment can move the price massively.
Firstly, at any point in time in a live cricket match how can an individual possibly believe with any level of confidence that they have even a 1% edge on the market. To believe that, you'd have to believe that "your price" at that point in time was more accurate than the price currently available on the exchange which is surely the accumulation of many opinions and probably many highly sophisticated algorithms.
Secondly if we're trading based on an edge how does that work in practical terms?
Let's say we place a bet on Team A halfway through a cricket match at 1.50 as we believe we have an edge at that point in time. Team A then drifts to say 1.60 and we believe the edge is even larger so we bet again. Team A then loses a wicket and moves to 1.80 but now we believe the price should actually be 1.85 so the edge has gone and is actually now on the opposite side. Either we take a loss there, put a massive bet on the other side and increase our overall exposure or we sit on a position that we no longer believe to be "value" and hope. Looking at it the other way we could actually believe that the value on Team A is increasing as wickets fall (within reason) and we're now holding a position form an initial bet at 1.50 where 30 minutes later the price is sitting at say 2.50, we believe that the 2.50 is actually value at this particular point in time, but we're obviously racking up stupendous losses at this point so what would we do?
My more basic understanding of trading on a cricket match may be for example assuming that Team A won't go far below 1.20 in the first innings so if they hit 1.30 with quite a long way to go we can relatively safely lay that and then take a profit if/when the price bounces. So in essence we are looking at simply limiting losses and hoping for something in the live action to turn in our favour to provide a big upside. I wouldn't describe this as value trading since actually I would have no idea if the 1.30 we laid in this example was actually value at the time it was laid other than from the perspective that the downside was limited and a lot of the "heat" had been taken out of the price.
Sorry for the long winded comment but "value" as a trading concept on live sports has always baffled me. I do obviously understand the concept of value betting in general when talking in terms of placing straight win bets that would be seen through to the end of the event.
Really interesting show! Thank you 👏👌👍