India vs Eng - 1st ODI (Fri 11 Jan 2013)

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NileVentures
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Hi all,

I just wanted to share the charts from the first ODI between India and England. In total £28m went through the match odds market and as you can see from the charts, there was a lot of opportunity for some big swing trades during the match.

I like the scenario of India chasing a large total because you can bet against the sentiment of a nation - they just refuse to believe they will not win.

We all know cricket is a religion in India and they love to gamble. Does anyone know if large numbers of India punters use Betfair?

NiLE
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LeTiss
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Cricket is a tremendous trading sport. I've been enjoying working on the Aussie Big Bash, massive liquidity and some cracking swings
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NileVentures
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Hi LeTiss,
I was watching the game Live on Sky today and I was certain that the markets were moving way before a wicket was taken on the TV. In fact, it got to the stage where I could predict a wicket taking ball by looking at the swing on BetFair before the ball was bowled on TV.

How do you swing trade in such a market?
Golfer
Posts: 137
Joined: Fri Nov 04, 2011 10:45 pm

The Sky feed is always behind the market but its even slower than usual because the comms team isn't in India so that adds an extra couple of seconds onto the delay.

Apparently the Indian bookmakers are a big player in the cricket markets.
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gazuty
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@NileVentures I think you'll find everyone in India glued to their radio.

And an increasing number of ipads and laptops front running at the games themselves.

I was taken aback at the massive liquidity in the Big Bash markets. I could speculate about where and why that liquidity exists but I shan't.
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NileVentures
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gazuty wrote:@NileVentures I could speculate about where and why that liquidity exists but I shan't.
Now c'mon Gazuty, this is no place to be coy - speculate away.
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LeTiss
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I've been pushing through some large numbers on The Big Bash when they are having a break between innings. It's not false money, or any kind of manipulation. There is simply massive liquidity on cricket, and I agree that it's primarily driven by Indian markets
Photon
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I met couple of guys (asian) as part of Betfair hospitality at Ascot and basically they would put through large orders on instruction and on behalf of clients based in India and Dubai region.

This correlates to the fact that there is a large illegal betting operations that run throughout India, as gambling is illegal, underground bookies take bets and balance their books by getting their offset from Delhi based central bookies, who are then I believe, balance their books from Betfair as well as other off the record bookies.

Cricket also tend to attract high level of matching in-play rather than betting prior to the match and that again conforms to expectation as people tend to bet at every turn of the match and probably bookies have enough margin as not necessarily having a need to balance it before the start.

Having said that I haven’t seen those guys or similar at any other event so I’m not sure whether it’s an ongoing operation or involve only in certain events. In the hindsight its pity I didn’t pry on their operation too much as cricket markets do involve large sums and would’ve gain greater insight.
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gazuty
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Yep
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