Exploring BetPro Exchange’s Options Chain: An Advanced User’s Manual

BetPro Exchange recently launched options trading on their platform, allowing traders to utilize options strategies to bet on sporting events. Options add an exciting new dimension for advanced users looking to manage risk, leverage bets, and implement complex strategies based on their market outlook. This guide will explore BetPro’s full range of options functionality to help seasoned traders get the most value from these new tools.

Understanding Options Contracts

Options contracts on BetPro Exchange give you the right, but not the obligation, to “exercise” the option to place a bet at a predefined price on a sporting event within a set timeframe. Two main types of option contracts are offered:

Calls – Allows you to bet on an event at the predefined “strike” price if the market price goes above that level before expiration. Useful for speculating on rising odds.

Puts – Allow you to sell an event at the strike price if the market price falls below that level before expiry. Enables betting against falling odds.

The agreed strike price and expiration date are locked in when buying/selling the contract. This defines risk upfront when executing more complex options strategies.

Navigating BetPro’s Options Dashboard

BetPro provides a dedicated options dashboard alongside regular betting pages for each event. Here you can view all available option variants and execute trades quickly.

Key elements include:

  • Options Filter – Customize option chain views by expiration date, % probability filters and other variables.
  • Greeks – Live calculations of Delta, Gamma, Theta etc. for each contract to judge sensitivities.
  • Strategy Builder – Construct advanced multi-leg strategies like spreads, straddles and combos. Provides risk metrics.
  • Alerts – Set price alerts for underlying event odds or Greeks to monitor.

Between the dashboard and betting page, all information required for informed options decisions is surfaced clearly.

Executing Your First Options Trade

Buying call/put contracts to speculate on event odds shifts is a good starting point for novice options traders. We’ll walk through an example trade start-to-finish:

  1. Navigate to Australian Open Mens Singles > 2023 Winner market
  2. Open options dashboard from top navigation
  3. Use filters to show all call/put variant available
  4. Select desired expiry date & strike price from options chain
  5. Enter intended stake and buy option contract
  6. Watch marked-to-market P&L adjust with underlying winner odds

Once familiar with basic calls and puts, consider more advanced strategies like spreads and straddles. We’ll explore those methodologies more below.

Options Trading Strategies for Positive Expected Value

The real advantage options offer is opening up multiple new avenues to find positive expected value on sports markets. Strategies include:

  1. Back-to-Lay Arbitrage – Lock-in risk-free profit upfront by executing appropriate options or multi-leg strategies.
  2. Hedging – Use options to reduce or eliminate downside risk from future events for current open positions.
  3. Speculating Around Events – Buy/sell volatility spikes leading up to major events through short-term options trades.
  4. Spread Trading – Take advantage of differential pricing across options chain using bull/bear put/call spreads.
  5. Odds Trigger Strategies – Structure trigger bets that only become active if certain odds thresholds are hit.

The strategy builder tool mentioned earlier makes constructing and analyzing these trades simple. Let’s take a closer look at that now.

Utilizing the Strategy Builder for Complex Trades

BetPro Exchange’s options Strategy Builder interface enables easy construction of advanced multi-leg options trades by visual drag-and-drop. Some key benefits:

  • Visually builds strategy legs from scratch to desired risk profile
  • Displays theoretical and marked-to-market P&L graphs for strategy
  • Calculates Greeks in real-time for whole strategy position
  • Allows underlying filters like probability range to update dynamically
  • Shows margin impact from strategy across portfolio

The tool separates leg-by-leg construction from risk analysis for streamlined workflows. Building multi-contract positions is simplified drastically here compared to placing each leg manually.

Let’s walk through creating a simple bear put spread using the visual interface:

  1. Navigate to Strategy Builder module
  2. Select “Bear Put Spread” strategy template
  3. Drag-and-drop legs from library into layout
  4. Customize legs by choosing desired options
  5. Review risk graphs and Greek metrics
  6. Execute strategy order straight from module

Use strategy templates as jumping off points for your own custom variants. The builder allows tweaking each component or adding new legs easily thanks to the intuitive layout.

Managing Risk Appropriately When Trading Options

While options offer more ways to potentially profit, the additional leverage inherent with derivatives also amplifies risk if traded irresponsibly. Some tips:

  • Measure Total Portfolio Exposure – Calculate margin impact to avoid over-concentration.
  • Set Stop Losses Strictly – Use stops on options trades and be quick with profit takes when volatility shifts.
  • Trade Smaller Sizes – When testing new strategies, scale position sizes appropriately to limit capital loss.
  • Hedge Downside if Required – Consider protective puts or other defensive options trades to counterbalance bullish speculations when needed.

Stay disciplined regardless of how promising a new options strategy appears backtested or optimized in a simulator. Only risk capital you can afford to lose as early losses are often incurred mastering these advanced techniques.


In closing, hopefully this guide gave you a firm grasp of the range tools now accessible through BetPro Exchange’s refreshed options module. When utilized properly, options enable savvy traders to capture profits from sports betting markets thought unavailable using only conventional fixed odds.

Approach learning these methodologies with patience and appropriate safeguards against overextending risk. Over time, options trading skills develop to unlock this market’s full potential.

Frequently Asked Questions

  1. What are the minimum trading sizes for options contracts?

Most options have a minimum trading size of £1 or £10 stake per contract. Illiquid long dated or deep out-the-money variants may have higher minimums.

  1. Is it possible to automatically exercise my option if profitable at expiry?

Yes, enabling the “Auto-Exercise” toggle when placing trades will automatically trigger contract exercise if in-the-money at expiry.

  1. How much margin is required to trade options strategies?

Margin varies based on portfolio exposure and net Greeks of total options positions. Typically 20-50% margin utilization is required.

  1. Can I trade options via BetPro’s mobile apps too?

Their iOS and Android apps have the same options functionality as desktop. All strategies can be executed and monitored on mobile.

  1. How late can options be traded before expiry?

Options will generally trade until 2 hours prior to the associated sporting event start time. Illiquid, long-dated options may see declines in underlying liquidity further out however.

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