Betfair (bots) (1 Viewer)
- Thread starter Nick
- Start date
dutchman
Well-Known Member
I dabbled in it once. Found myself inadvertently laying odds of 1000/1 on an outsider. Fortunately for me it didn't win. Got out before I lost too much money.
Call me cynical but I suspect all those 'experts' who claim to have made money laying odds at Betfair are being paid by the company to promote its business.
Call me cynical but I suspect all those 'experts' who claim to have made money laying odds at Betfair are being paid by the company to promote its business.
R
RB1992
Guest
I've been laying 0-0s for a while now, more for fun than anything. I'm probably a few hundred quid up over a few months, so nothing major.
If anyone on here is yet to sign up to most online bookmakers; look into matched betting. Guaranteed profit and fairly easy to do. Also, use Smarkets as your lay platform, only 2% commission (to Betfair's 5%).
If anyone on here is yet to sign up to most online bookmakers; look into matched betting. Guaranteed profit and fairly easy to do. Also, use Smarkets as your lay platform, only 2% commission (to Betfair's 5%).
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RB1992
Guest
I started matched betting a couple of weeks ago using the (very) few online bookmakers I'm not already signed up to and made a few hundred quid. It probably takes 1-2 hours out of your day to do. Perfect if, like me, you tend to do as little as possible at work. Quite interesting trying to find the closest back/lay odds as well, so doesn't really feel like a chore.
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RB1992
Guest
I've never really looked into it, but I'd guess it's an automated software, where say you deposit £500.00 into your Betfair account and it will automatically back/lay certain events at prices to guarantee you a profit. For example, backing Stoke pre-match yesterday at odds of 2.2, laying Stoke when they scored for 1.5 and guaranteeing yourself a few quid profit. Obviously there's a lot of risk to it.
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RB1992
Guest
I've plucked those odds out of thin air btw ^
Nick
Administrator
Yeah, it looks like it has one built in to lay draws so I have that running.
Don't actually understand what it is doing.
Deposit £500? Just put a tenner in and will be doing 50p bets until it goes!
Pessimist!!
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RB1992
Guest
Had it running today, got brave and put it on real money.
I am up 28p after about 200 bets.
Saving up for a chomp from the shop
Can you see what sort of sports/markets the bot was betting on and whether it was backing/laying?
Nick
Administrator
Yeah, it was doing mostly horses and it is backing and laying and then trying to get a small difference by the looks of it so you dont lose too much, but then you dont win too much either.
So it backs / lays and then the odds difference is where the loss or profit is.
That was one of the built in strategies, there are a few more but they are preset to like £150 so I have steered clear.
mrtrench
Well-Known Member
I used to do this for about 3 years - laying and betting and picking up the spread. I focused on League Winner in the Championship and Leagues 1 and 2 because I discovered that on Saturday afternoons the market became less liquid and every club who won shortened significantly and then later lengthened again. I started with £25 and built it up to over £2,000. HOWEVER, my wife got pissed off with me checking my position frequently and I cashed out. Money can be made there.
mrtrench
Well-Known Member
Wouldn't do the horses - it's over too quickly and you don't get time to hedge a position.
Nick
Administrator
Did you do it manually or with a bot?
duffer
Well-Known Member
I've spent quite a bit of time trading on betfair, mostly on the immediate pre-race horse markets using a tool called Bet Angel. That's got some built in tools for creating bots using your own strategies and tied into Excel, but I've never entirely trusted them because it can expose you to a big risk if you get it wrong (esp. on the lay side). It also does all of the calculations and placements for hedging, which is key when you're trading into a fast moving market (literally jumping around by the second). Mr Trench clearly had a calmer, more ordered method.
I've never made any great amount of money out of it, but then I've never lost too much either. If you haven't got a genuine exit strategy though, especially for when things go against you (and they will), then in truth you're not really trading, you're gambling - and that can be a slippery slope! In truth, I'd say that even trading is gambling, it's just a slightly more considered form.
Bet Angel does come with a practice mode, using the real markets fwiw. If you think you've got a good system you could use it to test. I should say that I don't work for them, and there are other tools out there, 'Geeks Toy' is another one...
I've never made any great amount of money out of it, but then I've never lost too much either. If you haven't got a genuine exit strategy though, especially for when things go against you (and they will), then in truth you're not really trading, you're gambling - and that can be a slippery slope! In truth, I'd say that even trading is gambling, it's just a slightly more considered form.
Bet Angel does come with a practice mode, using the real markets fwiw. If you think you've got a good system you could use it to test. I should say that I don't work for them, and there are other tools out there, 'Geeks Toy' is another one...
dutchman
Well-Known Member
How much did you have to risk to win that 28p, hypothetically, assuming everything had gone wrong?
mrtrench
Well-Known Member
Manually.
Nick
Administrator
Ah, that would need serious time going into it to study
Nick
Administrator
I've spent quite a bit of time trading on betfair, mostly on the immediate pre-race horse markets using a tool called Bet Angel. That's got some built in tools for creating bots using your own strategies and tied into Excel, but I've never entirely trusted them because it can expose you to a big risk if you get it wrong (esp. on the lay side). It also does all of the calculations and placements for hedging, which is key when you're trading into a fast moving market (literally jumping around by the second). Mr Trench clearly had a calmer, more ordered method.
I've never made any great amount of money out of it, but then I've never lost too much either. If you haven't got a genuine exit strategy though, especially for when things go against you (and they will), then in truth you're not really trading, you're gambling - and that can be a slippery slope! In truth, I'd say that even trading is gambling, it's just a slightly more considered form.
Bet Angel does come with a practice mode, using the real markets fwiw. If you think you've got a good system you could use it to test. I should say that I don't work for them, and there are other tools out there, 'Geeks Toy' is another one...
That's the same sort of thing.
The strategy at the minute looks a bit complex so I probably couldn't say what it is doing. I only tend to lose money it seems if it can't Match a bet in time before it cancels. It looks like it is putting on a lay and a back, although it is only really making a few p profit / loss each time but with the odd £2 here or there which it makes back.
I do see it as gambling still, and won't be putting my house on it any time soon. I had it in simulation mode but went crazy with the 50p bets and will probably sit with it for a week and not actually make anything at all but not lose anything.
duffer
Well-Known Member
Yep, fwiw mate I don't really bother with Tipsters. The best ones, imho, probably get paid by the papers for it. Over a year, there usually isn't one of them who turns a profit...
http://www.besttipping.com/betdaqtipcheck/?action=allcompare&time=360&amount=10
We'll_live_and_die
Moderator
Where do we find and how do we use the Bots Nick?
Nick
Administrator
I was just trying this demo:
https://www.bfbotmanager.com/
On that note, I left one running overnight and it now has me down to £3 off a tenner
Will see if it can claw it's way back up again.
We'll_live_and_die
Moderator
£30 a month. Surely it's not worth it unless you're putting in a few grand
We'll_live_and_die
Moderator
So you pay £30 a month to lose 3/4ths of your money.
Nick
Administrator
Well if you pay that you would probably do more testing and analysis before rather than just chucking a tenner in like I did!
