Sports Traders Health Check

1. You are new to sports trading and someone offers you inside information for a price. Do you:

Say "That sounds cool, when can I have it?"

Tell them you'll think about it

Say "Call me back in about a year"

Ask for more information and a fact sheet

Say "I've got broadband thanks and don't want to switch so sod off"

2. Someone on the forum says the odds or price of a horse/football team or any other sporting event is about to move from 2/1 - 4/1 and it's time to get in quick. Do you:

Wait for it to move up then buy

Get in quick before it goes up

Ignore the post and move on

Lay it

Research it properly then decide

3. You've been to a free sports trading seminar and now they want you to pay £3,000 for a weekend one. Do you:

Say thanks, but its way too much

Write out the cheque immediately

Negotiate the price down

Use the £3,000 to trade the sports markets instead

Ask around to see if anyone else did the seminar and was it worthwhile for the money

4. You're new to sports trading. Do you

Buy a "guaranteed winning system" and use it

Learn about the craft slowly and surely

Back or Lay loads of different sporting events - spread the risk

Get stuck into the betting exchanges using leverage

Buy into tips from papers

5. When researching a sporting event is it best to look at it from the point of view of:

David Beckham

Davina Mccall

Frankie dettori

Jade Goody

James Coombs-Prole

6. What's the best clue a sports commodities price is about to change?

Good Volume is coming in

A warning is issued such as an injury, a change in rider etc...

Tipped by a paper or magazine

The conditions for a particular sports commodity look great

A Bookie is Backing or Laying a sporting event

7. One of the great things about trading the Sports Markets are the many great opportunities every day of the year a sports trader has, but which part of the year presents the most opportunities?

Just before Christmas

Just before Easter

On your birthday

Summer time

Grand National

8. You decide you want to Lay a sports commodity. What are you looking for in making the decision to Lay a particular sporting event?

A warning is issued such as an injury, a change in rider etc...

The outlook is not great

Their performance lately has been poor

It's gone up a lot and it's time it came back a bit

They are on fire

9. You want to Back a sport commodity but there is a gap between the current Back and Lay price. Do you:

Use some sports trading software to request a price or odd

Back it anyway

Wait for the gap to narrow before entering the market

Check the history to see if the gap is usually smaller

Forget it and move on

10. The price of you sport commodity is shortening rapidly. Do you:

Hide behind the sofa

Wait and see if it's a market correction

Only sell if it hits your stop

Have a cup of tea and toast

Get out pronto

11. If you Lay a Horse at Odds of 1.87 with £100, what is your liability?

£100

£87

£187

£113

12. If you Back a Tennis Player at 2.4 with £100 and that player goes onto win, then how much profit would you make?

£140

£100

£240

£24

13. A price of 4 on Betfair is equivalent to traditional odds of?

4/1

3/1

1/4

1/3

14. To trade for a profit, you need to:

Back high, Lay Low

Lay high, Back Low

15. If the favourites horse’s price is drifting in the 10 minutes before a race, you should:

Do nothing

Back that horse

Lay that horse

Lay the second favourite

16. The benefits of ‘Greening up’ or Hedging are:

You lock in profits regardless of the outcome of the event

It enables you to continually recycle your stake to maximise profits

You can make your profit before the event even starts

All of the above

17. In a ranging market, the best trading strategy to follow is:

Do nothing

Swing Trading

Scalping

Always Lay

18. If you use a stake of £100 and back at a price of 1.75 and the price drops to 1.56, if you greened up at that price what profit would you make?

£56.00

£19.00

£12.17

£37.00

19. What does the acronym WOM mean?

Winning on Momentum

Weight of Money

Will Offer More

20. In a tennis match Federer v Nadal, if you can back Federer at 1.4, what price should you be able to back Nadal at?

1.6

3.5

3.0

It depends on the liquidity in the market

21. Which of the scenarios below would you choose?

If the market goes your way, you win £100 but if it doesn’t you lose £100, the chances of it going your way are 49%.

Regardless of what happens you win £10 using a £100 stake

If the market goes your way, you win £200 but if it goes against you, you lose £50, chance of it going against you are 77%.

Using £100 stake, you will make a £12 profit if the market goes your way but you will make nothing/lose nothing if it doesn’t.

22. Which of the scenarios below would you choose?

Make consistent but small profits eg 10% of your stake

Lose most days but have the odd big win which makes you slightly profitable over the long term.