Guys, this is something I am interested in but don't know how to go about it. I know a lot of people will like to learn about this biz thereby increasing liquidity and the potential to make money from the change of Odds without being affected by the match outcome ...


To kick it off I have some questions that are important to every noob out there:

1. Do betfair, betdaq, matchbook and co. (ie betting exchanges) accept Nigerians?

2. What could be the difficulties in account opening, deposit and especially withdrawal in these exchanges?

3.How do you trade odds? Is it that you back an outcome and when the odds change in your favour you simply click "cash out" and you have profit? Or is there a special platform within those sites for odds trading?

4. Is there a site where you can bet and forget just like what binary trading sites do for Forex trading?

These are vital questions that need answers for a newbie like myself. I would be grateful if an experienced trader would lend me (and other people who need this) insight.
Waiting eagerly in anticipation for your response.