Hope you all had a nice Christmas and new year! On a personal note, I got engaged over the holidays and celebrated by eating my body weight in chocolate.
Markets act strange in the festive period…
Right off the bat, I noticed that sports markets are a very different place over the festive period. Lower leagues in particular often had very little liquidity which made trading fairly difficult.
New years day horse racing was madness, partly due to bookies offers from the likes of SkyBet, William Hill etc. This resulted in every man and his dog wanting to lay different horses so prices were all over the place. Martin Futter at Betfair Trading Community very nicely pointed out that the Smarkets market for the 13:20 Cheltenham race had been 98% overround for a considerable amount of time.
(This meant that you could lay every horse at current odds and come out with a guaranteed profit)
I acted strange over the festive period…