How to make a profit by trading Australian horse racing? Australian horse racing markets are different from British horse racing markets by a few characteristics. The most important one is – Turnover Charge. In essence, there is a special turnover charge applied on some tracks. The reason is different legislative in some Australian states so Betfair has to cover their costs by imposing a turnover charge on your bets.
If you were trading Australian horse racing markets without knowing this charge, you could end up with a huge loss as a result. Just avoid trading on tracks where the Turnover charge is applied and you will be fine.
Trading Australian Horse Racing Video Description:
- 0:11 – I’ve placed my Lay bets at the current bottom of the market. And it’s also on the round number @4.00, which often works as a strong support in the market.
- 0:17 – And I quickly take a 1 tick profit once my bets are matched.
- 0:21 – Repeating the process.
- 0:38 – The support level @4.00 seems to be strong, so I can increase my position.
- 1:21 – I think the market could bounce back down, so I’m trying to get some Back bets matched.
- 1:58 – The support level @4.00 worked perfectly in this market and I take the profit.
From what I have experienced on Australian markets, there is a huge hidden liquidity. Even if you see only a small stakes in the market, be sure there are people who are ready to match big amounts. Usually you can see this around support and resistance levels in the market. For example: The market is going down and it looks like it will continue its trend through a support level @3.00. But after the market breaks this level, big layers come into the scene and they don’t let the market go down anymore.