Here are some of the effective tips to help you excel in your betfair betting.

Tip 1: Know your trade

Know your trade!!! Study the market you are going to trade and stick with it until you completely master it. For example, If You are specialise in Football Trading, do not move onto Horse Racing before You make consistent profits from the Football market. From experience, I find that if I diversify too early, I end up making more mistakes and find it harder to focus. Every market is different so I think it is a good idea to devote all your effort into one market to master it before you jump into another. Sport Betting in Betfair is a game of skills. So master it. Don't be " jack of all trades, master of none"

Tip 2: Write down your plan and stick to your plan - Paper trading First.

Write down your trading strategy and stick to it. You must be able to justify why you backed a particular team at a certain price and why you lay it at a certain price. It reduces confusion and costly mistakes. Stick to you plan and do paper trading first. Firstly, it can reduce your betting risk, secondly , practice makes your strategy perfect. Thereafter, put your first dollars on the games, and monitor your outcomes closely.

Tip 3 Do not be emotionally involved

Do not be too greedy when you have have a winning streak. When you are on winning streak, don't get greedy and remember to keep your winning. When you are on losing streak, do not chase the losing stakes. Chasing your losing streaks will have you emotionally involved in the games, and a heated mind will not provide you with good judgment.

Tip 4 : Use e-Wallet To Transfer Your Fund

One of the important techniques is using e-wallet to fund your betting account. One of the e-wallets I personally used is moneybookers. It allows me to withdraw winnings frequently or every/week so that the money left with the amount that I need to trade. It will give me the psychological effect of starting back at the bottom again at the start of every week. It also prevents me from losing more than what's in my Betfair account and preserve my winnings.

Eric Smith is a professional player on betfair and he has taught many friends and peers to make money on betting exchange, particularly on betfair. He cares very much about his readers who are reading this. Click to visit his website http://www.winningbetfair.com to find what he can do for you. The Effective Techniques he used and has made him $10,391 in 47 days with small stakes.