Frequently Asked Questions

Last Updated 2nd October 2008:

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Tell us a little about yourself?
Well, I’m 31 years old and I live in South Wales. My history with gambling started a long time ago though. When I was very young I had a condition with my hip that stopped me from going to school. The only person available to look after me was my Grandfather so every afternoon he’d push my wheelchair to the betting shop where we’d end up fighting the smoke to try and pick some winners. My parents didn’t mind until I started to back at school - every morning I’d scan the daily paper to read the horses form and give my tips for the day. They stopped the paper soon after but that was it – I was hooked.
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Where did you get the idea for your site?
I’ve run my own website (aptly named markiverson.com) for sometime and my blog has become an extension of that as it’s much easier to publish anything I want to say.
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Do you have other sites? Was/is this your first?
Back in 2003 I started a website called whisperexchange.com. The idea was to put people with inside information in touch with each other quickly. The truth was it became too big to quick. I had over 500 subscribers to my daily newsletter in no time and I didn’t have the time or technology to take it further. Tipexchange.co.uk now provide a service similar to what I had in mind for my site.
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What was your inspiration for starting your blog/website?
I had two main aims – the first was to diarise what I was doing so that I could learn from my mistakes and the second was to try and be an inspiration to the people out there who feel you need money to make money. Matt from Punt.com left a comment on my blog at the start of 2007 which I’ve remembered ever since – he said “big things are possible from small beginnings".
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When you first started your blog/website what was your experience like?
I found out quickly that writing a blog is not easy – it’s tough to be factual and entertaining! I think this is why quite a few blogs stop posting after a couple of months.
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Is Betfair your primary job or do you also work elsewhere?
No, I also work as a Project Manager. Fortunately, it's only for 3 days a week so I can also trade part time.
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How long has your site been 'live'?
My website has been going about four years and my blog is coming up to it’s 2nd birthday in December 2008.
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How much time do you spend on Betfair on average a day?
It all depends on the event I’m trading but on average about 2-4 hours whenever I'm involved with an event.
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What's your background in the markets you try to make a profit in?
Cricket and Rugby Union are my two most successful sports – I’m a position taker and try not to rely too much on the speed of my Internet connection so both of these sports tick my boxes. All of my knowledge has come from studying the sport which is something In think most punters fail to do.
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Would you describe yourself as a Betting Exchange Trader, a Punter or anything else?
Up until two years ago I was a punter but now I’m most definitely a trader.
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Over the time you have been betting, would you say you have won more that you lost?
Yes I have, but previous to the last couple of years I've never been up a significant amount - before I started trading I would clear a few hundred pounds a year profit.
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Do you use both exchanges?
Yep, I have an account with both Betdaq and Betfair.
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Do you use trading software to place your bets?
Oh yes, Bet Angel is a terrific piece of software and I’d recommend anybody serious about trading to use it. Not using software allows others a huge advantage but you’ve got to take time to learn how to use it.
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Do you use any Betting Bots and which ones would you advise using?
No, I’ve tried making my own but haven’t come up with anything worth using yet.
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What is the most costly lesson you have ever made when either betting or trading?
My first trial with trading was about 3 years ago when I was still a punter. I played around on the horses before the start of a race and ended up letting the trade go 'in running' which was a big mistake. Two minutes later I couldn’t get out of the trade and ended up losing £400. Nicola was sleeping on the sofa at the time and she wasn’t to impressed when she woke up!
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Any favourite trades? Why?
West Indies v Bangladesh in the 2007 Twenty20 Cricket World Cup stands out. I love trading Twenty20 and this match ended with my biggest individual win since I started trading - £652.99.
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What would you say to anyone who is just starting to bet or trade?
Be patient, specialise in a handful of sports to begin with and learn about risk and money management. For me, managing risk is the key.
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