I'VE SEEN IT ALL NOW.....A "NEW KIND" OF SPORTSBOOK

GOT A NEW POPUP JUST SAW, WHEN I WAS GETTING SCORES.....

TRADESPORTS.COM....NOT YOUR REGULAR SPORTSBOOK, U TRADE BETS WITH OTHER PLAYERS....U MAKE OFFERS OF LINES, AND THEY BET YOU OR VICE VERSA....PAY NO JUICE, YOU ARE JUST BETTING AGAINST OTHER PLAYERS....

ACTUALLY A KIND OF NEAT IDEA, IF YOU THOUGHT U WOULD EVER GET YOUR MONEY.....

bucs,

tradesports isnt actually "new".

i havent heard anything bad about them.

I MEANT NEW TO ME....I HAVE NEVER HEARD THE NAME BEFORE, WAS CHECKING SCORES AT SIA, AND WHEN I LEFT I GOT THAT POPUP......

JUST SOUNDED LIKE A WEIRD IDEA...I MEAN WHERE DO THEY MAKE THEIR MONEY AT....WITH NO JUICE.?

what does this newbee bucs know... been here one damn day....sheesh newbees.....OH shit I am a newbee to

trade sports is lots of fun actually. Ive only lost lost lost so I Cant say anything about payouts. But the wagers Im making against all of you are sure losing (in the 2nd Q today I played the NEts + 2 1/2 for example). And I lost a bunch on series price money on Colorado vs the Wild before the series started. Somebody lured me in at a good price to bet on Colorado, a price much better than I could find at any off shore sites. But ill be back for more soon! They have financial odds also on the DOW all day long. and other good stuff like weather bets, derby futures, entertainment. You can post your on money lines on the events listed and hope people will take you up on them.

Its a great out to get your middles and/or scalping because you can pick up a few contracts at very good numbers at times. But be fast because others are there to scalp or middle also!

isnt this the place where you can buy and sell teams like a stockmarket ?

SO HOW DOES THE MONEY WORK TRY?

U HAVE TO HAVE MONEY IN YOUR ACCOUNT, TO ACCEPT SOMEONE'S BET...?

I MEAN SAY U PUT UP THE CUBS +120....

GUY WANTS TO BET 100.00 ON THEM VS YOU, YOU WOULD HAVE TO HAVE AT LEAST 120.00 IN YOUR ACCOUNT TO ACCEPT WOULDNT YOU?

No, the minimum deposit is 25 USD and here's an example how it works: the contract is based on the buy/sell board from 0-100,http://www.tradesports.com/ click on trading demo. Tradesports is like a exchange broker with a small fee of 4 cents per buy/sell contract and expiry fee which is a total of 8 cents per contact but the good thing is that you don't have wait till the game is over to gain a profit or if losing then doing the opposite of your original buy/sell option to minimize the loss. It took me 2-3 games to figure out how this concept works.

So has anyone been trying this sportsbook and found much success? Any tips?

welcome to the RX grind it...good luck to you

agree- you can find good prices and that´s why I still with them.

note.
they take fees for all bets.up to 3% or something like that.extra-fees if you bet on both sides

be careful with your bets.I try to be careful myself

Bucsfan67:

I have used this model of bookmaking companies in the past. My game is different though: I play soccer, which is different than any American sport, due to the fact that in soccer you have 3-way betting. However, what I really wanna say is that in these sport exchanges you should conduct yourself as in a poker game (just a comparison). In poker you can go far with a shitty hand if you are smarter than your opponent and if you have $$$ to stay in the game long enough. Of all factors, $$$ is crucial; otherwise you'll find yourself being devoured by the punters who are backed up by large capitals in sport exchanges.

The profit of the company is based on volume. They merely perceive a % of the transaction for providing the players the platform to speculate with the prices. They don't really book, they function as monitors, basically.

I know of a few players that have way more experience than me in this field. Hopefully, they will stop by and chime in.

[This message was edited by Walk of Life on 05-06-03 at 04:15 PM.]

Confusing site.
Too figure the odds, need to hover over the 48 or 57 to see them, then you have to figure how may contracts, then how much someone has as the bid/offer so you aren't left with an open contract, I don't see their comission anywhere, so you need to track that seperately, and then there is the 4% (I think if you make a wager) and 8% (if you don't make a wager).

I'm sure it makes sense to some, maybe I'll watch it some tonight during the games and it will make more sense.

I have played at tradesports but found it too confusing. I am perfectly capable of making mistakes using a simple system never mind the one that they operate.

I prefer the betting exchanges such as Betfair and Betdaq to Tradesports as I find them easier to use. They operate on the same principle in that the company takes a small percentage of winnings of each transaction in order to make their profit.

This is just like betting Stock Options...

You can change the layout so it shows a regular line.. ie: +100 as compared to the number ie: 50.

The site was down for me tonight.. for a large amount of time.. 15+ mins during the Spurs game. Other than that the site is nice.. need to make it more user friendly I can agree with people on that.

They charge you a percentage on each trade... which is the juice. (.04 cents per trade or avg of 1.6%, so .08 total since you have to buy or sell your option back or 3.2% VIG) Say for example you had the Spurs tonight like -4.5 against the Mavs... This I for 50 which is +100... Which after the percentage you pay was much better than the -107 or whatever you could get at the other books.. Remember you pay when you buy or sell.. or when the contract expires.

So before halftime I sold mine for 56, which is (-127) for someone else. So I made the different of 6. I can't tell you how to do the math.. but think of it this way. If you have something that says Spurs -4.5 @ Mavs (Spurs to win by 4.5) then if you buy it @ say 50, you want your option to go up.. So you want it to hit 99. If you don't think the Spurs will win by 4.5 then you sell @ 50 and hope the price goes down to 1.

So later in the 2nd half I decided I would sell the Over 203.5 - The price was around 40... and then dropped to 35 quickly. I think my avg price I sold at was 36.5 - Remember when I sold this, I didn't think that the Over would happen. So I was betting against 203.5, so this means you sell. It didn't and I banked. Also, remember at any time I could of sold, meaning BOUGHT back shares to cover my sell. So if I was SOLD 100 shares at an avg of 36.5, and I wanted to cover my position during the game, I could of BOUGHT back 100 shares at say 26.5 - I would of had a profit because I was betting against the over.

It all depends on what the Bet is on. If it was under 203.5, then I would of been BOUGHT shares at 36.5, but in that case the price would of been the opposite, 63.5.

Also when you hit buy or sell, you can click how much is this going to cost me, and it will tell you. You do have to be quick. You can easily beat amatuers to the bone.

For example.. when there is 15 secs left and you are 9 pts off the over, and there is still a bet out there... someone is an idiot or they are just being cautious. Which means you might lay down $1k, to win $20, but its free money. Might be too right for some of you but it just goes to show you, if you are an avid player you will find a profit in everything.

Here is there conversion chart: https://www.tradesports.com/jsp/intrade/misc/odds_calc_body.jsp

Example:

You can "Bet On" or "Bet Against" any wager. For example, a $5"Bet On" a team at evens (+100) means you are betting 1 lot at $5. The exchange fee if this bet is matched and held till settlement will be 8 cents (4 cents trading fee + 4 cents settlement fee).

They have good tutorials on their site.

The main thing to remember is when you have a bet layed out, for example I will give you 1 right now which is on their site:

Contract B Qty Bid Ask A Qty Last Vol Chge
NBA.WEST.MAVERICKS 100 2 5 75 4 16.0k -4

The above means this, The Mavericks to win the Western Conference. Here is how the breakdown of the above works... The bid Quanity is 100, with the Bid at 2. The Ask is 5, and the ask Quanity is 75, with the last trade being at 4, and the volume is 16k and the Chge means it was at 8, today but the last trade was at 4, so you have a change of -4.

A bid of 2 is +4900 and Ask of 5 is +1900. This is for the Mavericks to win. Now I wouldn't bet that because the Spurs are going to win in my opinion. But, if you wanted to Bet against them winning, you would SELL, now you can place an ask of say 3 or 4, because right now the only person who is selling is selling at 2.

So if I go and put down 100 Quanity at 3 to SELL, here is what it tells me when I click "how much will this cost me?"

Here is what it says:
Margin Required:
USD 970.00
Fees if this order is filled:
USD 4.00
Your max profit on this order:
USD 30.00 (3 points)
Your max loss on this order:
USD 970.00 (97 points)

So basically you are betting $970 to win $30, paying $4 in fees. Now, remember this will double to $8. So basically you are betting $970 paying $8 to win $22.

Now that sounds bad... but that is just showing you one side.

If you wanted to BUY this, 100 shares at 3, here is what it would say:

Margin Required:
USD 20.00
Fees if this order is filled:
USD 4.00
Your max profit on this order:
USD 970.00 (97 points)
Your max loss on this order:
USD 30.00 (3 points)

So as you can see this is just the opposite, you are putting up $20 with $4 in fees for a max profit of $970, but you could lose $30 if it goes to 0, since you are buying it at 3.

This ends up at $20 paying $8 (total on a buy and a sell on 100 shares) to profit $968 after fees.

The best part about this if you normally place regular wagers say you take Mavericks +4.5 and wager $100 at -110, then say you realize there is no way in hell they are going to cover... You could buy the Spurs -4.5 and make money or break even on your losing Mavericks bet.

I just like that you have to think fast... be smart and you can close out a losing option without losing all of your money.

I hope I cleared this up for some... I have only been playing for about 5 days, but I really like this.. It's sorta like Betswwts.com P2P, but their site never took off.

One more thing, you can be your own bookie if you have 5 dimes with them.. not sure how it works, but I might do that in the future.. I think you get a lower VIG also.

This is more examples from their site:

Example: Take your profits early


Event NFL Chicago Bears at New England Patriots
Contract NFL.CHI-4.5@NEP (Bears to win by 5 or more points)

You bought 100 contracts of NFL.CHI-4.5@NEP before the game. The price was 50 (an evens bet that the Bears will win by 5 or more).

At the start of the 4th quarter the Bears are ahead 36 - 24. The price is trading around 80.

You know that the Patriots often make a come back in the 4th quarter, it's possible that Bears won't win by 5 or more points.

If you wait until the end of the game and the Bears are less than 5 points ahead then you lose your entire stake ($500 in this example).

However, if you play safe and sell your 100 contracts now, you will make a guaranteed profit of 30 points (buy at 50 sell at 80).
Total Profit = 100 contracts x 30 points x $0.10 = $300

Now you can relax and watch the remainder of the game, it doesn't matter who wins, you keep your $300 profit.



Example : Limit your losses


Event NFL Chicago Bears at New England Patriots
Contract NFL.CHI-4.5@NEP (Bears to win by 5 or more points)

You bought 100 contracts of NFL.CHI-4.5@NEP before the game at a price of 50.
(an evens bet that the Bears will win by 5 or more).

At the start of the 4th quarter the Patriots are ahead 24 - 20.
The price is now trading around 30 (it's unlikely that the Bears will win by 5 or more: a 30% chance)

If you wait for the final result and Chicago are still behind then you lose your entire stake ($500).
Total Loss = 100 contracts x 50 points x $0.10 = $500

If you cut your losses now and sell, you will limit your loss to 20 points (buy at 50 sell at 30).
Total Loss = 100 contracts x 20 points x $0.10 = $200

Instead of a $500 loss you only lose $200.


Example : Taking an opposing view


Event NFL Chicago Bears at New England Patriots
Contract NFL.CHI-4.5@NEP (Bears to win by 5 or more points)

During the 2nd quarter the price for the Bears to win by 5 or more points is 40 (a 3/2 bet).

If you think that the Bears will NOT win by 5 or more points you can sell the NFL.CHI-4.5@NEP contract.

You do not need to buy before you can sell. This is called selling short.


If you are familiar with sports books, then you can think of selling as making the book.

By selling at 40 you are accepting bets that the Bears will win by 5 or more points. You are taking the bookmakers side of a 3/2 bet.

When you go to a traditional bookmaker they might offer odds on each team to win the Super Bowl, on TradeSports they would be selling each team to win.


An alternative way to look at selling a 0-100 contract is that you are backing the reverse outcome.

Example :
Event MLB Arizona Diamondbacks v Colorado Rockies
Contract MLB.ARIvCOL.COL (Colorado Rockies to win)
Current Price 20

Buying at 20 would be a 4/1 bet on the Rockies to win.

Selling at 20 would be equivalent to buying the Diamondbacks to win at 80.
i.e. selling at 20 would be equivalent to a 1/4 bet on the Diamondbacks to win.