Essential tools and resources for sports traders
This post is a summary of tools and resources that can help you improve as a sports trader.
TOOLS
ODDSPORTAL
Oddsportal is a free service that allows you to compare the odds offered by different bookmakers in one place. They also have a surebet (arbitrage) and some other nice to have tools.
FLASHSCORE
Flashscore is another free service that is great for keeping track of the score on the trades that you have placed and for checking the results. They also have an app and if you create a user, you can get notifications whenever there is a goal in a game you want to follow.
ODDS CONVERTERS
Using an odds converter enables you to quickly see the relationship between decimal, American, fraction odds and implied probability.
BROKERAGES
Betting brokerages enables you to place trades at the sharp bookmaker’s with one account. It reduces the hassle of managing multiple accounts in addition to increasing the speed with which you are able to execute trades. At Trademate we are currently using Sportmarket as a brokerage to perform our betting in at the sharp bookmakers. Other brokerages include AsianConnect and PremiumTradings.
RESOURCES
PINNACLE’S BLOG
In addition to being one of the bookmaker’s with the highest liquidity and payout rate, Pinnacle has some great educational content on a range of topics that are important for sports traders. We have included some of our favorites below:
CONCEPTS
- How betting odds and the bookmaker’s margin work
- More on the bookmaker’s margin
- Opening vs closing odds and market efficiency.
- Expected value in sports betting
- Standard Deviation
- Wisdom of the Crowds applied to betting
- Favorite-Longshot bias
- How often does the lead change in a match
- Different bet types explained
- Bettingexpert: How to calculate an Asian Handicap
STRATEGY
- How to hedge a bet for guaranteed profit
- Pinnacle and market movements
- The importance of evaluating your performance versus the closing line
- Are you getting better odds on a draw no bet or by betting on both home and away?
- Betting Asian handicap lines vs laying on exchanges
PSYCHOLOGY
DEVELOPING PREDICTION MODELS
- Building a betting model
- Using the Poisson Distribution to create an expected goals model in football
- Creating an expected goals model with limited data
NEWS
Tony Bloom and Starlizzard — One of the world’s most profitable sports traders.
FIVETHIRTYEIGHT
A stats centered blog run by Nate Silver that covers American sports. Nate is known for his predictions on Baseball and past US elections.
TRADINGEUROPE
Trademate’s youtube channel where we trade live in the European market and discuss key topics in sports trading.
TRADEMATE SLACK COMMUNITY
If you are not already a member, join our community on Slack to discuss betting. Just ask for an invite.
Finally, don’t forget to check out the other articles at our content center.
For more tips and strategies check out the Trademate blog.
Written by: Marius Norheim, CEO of Trademate Sports
