Last year, Peter Webb (Bet Angel) used his trading tools to trade on all 28 of the festival races and won on every one. He did a video :
https://www.youtube.com/watch?v=ehUqgO0-K6Y
This is a pretty decent effort. Its not a billion to one chance . I would take 10/1 to do it (winning 5p or something), but his numbers were v strong, so he is obviously a great trader.
Betdaq generously announced a competition :
The basic rules were you had to trade on all 28 races and your net result would be multiplied by your net win percentage.
So, if u won $3k over the week and won on 14/28 races, it would have been $3k * 50% = $1500.
First prize 1k, 700 for 2nd, 300 for third.
I very rarely trade Cheltenham but this year was able to fit it in.
Competition strategy is important. I initially expected anyone making around $7k would be close to winning but as the week progressed, my idea of what would be needed fell.
My trading strategy was to try to limit losses, but if certain horses won, put myself into the frame.
During days 1-3, I was able to limit losers to just 1 a day and had some big swings in my favour.
By day 4, I felt I was v close to winning and though I had committed to not really trading Day 4, couldn't help myself when Apples Shakira was trading as low as 2.2. Beating this probably put me well over the top.
Here are my results for the 4 days ;
Day 1
All of this made my winnings for the competition
That got the job done.
Was pleased that Betdaq trading volumes were up .. we estimate by around 20% on the week, and Betfair fell by about 15%, year on year.
Matchbook also had very decent liquidity. It's encouraging, competition is gaining traction, especially at high profile events.
Edit : Have discovered 2nd and 3rd were low 1k profits .. which probably indicates bad Game Theory, by risking it all in the first race of Day 4.
Well done, well deserved.
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