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2017 Ashes Insight
For example, someone believing the $1.85 on Australia to win the first ashes test at the GABBA is a big price (it is) can make a bet on them winning the game. This bet lasts from the moment it is struck until the conclusion of the game.
A trader may believe that England’s top order is weak and would look to back Australia when they bowl.
They would take the price available before England’s innings and would only be involved in the market while England’s top 4-5 are batting. The idea being that if the trader is correct and England’s top order lose their wickets cheaply, Australia would be a significantly shorter price to win the match with England 3/30 (why do you Aussies put the score that way round!).
They would then ‘hedge’ their bet back at a shorter price to generate a profitable trade:
BACK $100 Australia $1.85 before they bowl
LAY $132 Australia $1.40 with England 3/30
Net position: (before commission)
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Betfair Cricket Live Rate
So irrespective of who wins from here the trader has made a profitable trade. From there they can go on to identify other scenarios in the match that they feel they can turn into profit and build up more profit on the game.
Of course, if the trader is wrong and England are 3/300, Australia will be a significantly higher price than $1.85 and they will have to decide if they will cut their trade for a loss or not. This is different to the bettor, because Australia could still win the test from England being 3/300 and the bettor doesn’t care what price any teams are during the game because they are just interested in the final result.
Trading becomes even more valuable in the shorter formats of the game, where taking on certain players with other players for very short time periods can result in significant profits.
Cricket Live Score
Take the BBL for example. If you have a weak bowler who you want to be against and two strong batsmen that you want to be with, you could back the batting team for just 6 balls. If the weak bowler gets ‘pumped’ around the ground, you will have made excellent profit and if he gets both batsmen out you will have lost significantly. This is The Game Within The Game.