Here’s why we include betting exchanges and sports spread betting firms on the Good Money Guide.
We cover high-risk speculative products such as forex trading, CFDs and financial spread betting and personally, I love the racing. My favorite bets are going long winning distances on jump racing and shorting winning distances in flat racing sprints All investing comes with risk and if we’re honest the only real way to make money is to have a long term growth strategy and invest in profitable and established companies. Much like Warren Buffet says.
However, long term investing, whilst effective is also boring. What is fun is short term speculation.
If used appropriately, you should probably allocate less than 10% of your liquid net worth to high-risk speculation – or in other words – your fun money.
Anyway, why do we cover high-risk products like Forex trading and gambling? Well, my thoughts are that if you are going to do something risky, you should at least do it with the right people. Not some offshore bucket shop that will try and nick your money.
But, gambling on a betting exchange or through a sports spread betting firm is clearly not investing and you’ll probably lose all your money. It can be fun, but when the fun stops – stop – as we must say nowadays.
So, firstly if you are going to do it – these are the guys to do it with…
Secondly, there are so many absolutely appallingly bad comparison sites out there claiming to compare the best bookies – where in actual fact they are terrible.
Here are the only bookies we cover on Good Money Guide:
- Spreadex Sports – excellent coverage of all events and personal service. Superb all-round bookie
- Betfair – generally have the best odds and liquidity for backing and laying bets for sports trading
- Betdaq – as with Betfair they offer better odds, although second to Betfair, they do offer excellent additional markets.
- Smarkets – an up and coming betting exchange, they have some excellent visuals for sports trading
- Sporting Index – offer decent market if you are a sports spread betting trader
- Matchbook – one of the smaller betting exchanges that offer good US sports coverage
Also, even though it’s not technically gambling we cover BOTB where you can win a dream car – but as with gambling – you pays your money, you takes your chance…
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