Hopefully a fun topic - what are your methods ?

[one cool dog]

There are clearly some very, very clever people here that use the software at a much better rate than I do. I am very much a small player so my rules for Betting Assistant are -

Set the Lay at 14.0
Back at 1.5 (I will hardly ever back unless I am trying to recover some of a lay position)

My set lay for every horse is £4.40 (This is because, three lays comfortably earns me over a tenner, and allows for Betfair commission. I want to try and win a minimum of £50 a week, so £10 a day)

I lay horses in-running and built a bank of about £440 by hook or by crook. My aim, simplistically, is to lay horses that have no chance of winning, or very little - I obviously cannot go laying at 1000.0 or even 100.0 due to my bank size. You need to be good at in-running analysis and I think I am not to bad. I do wait until the last moment, and is why I get matched at 14.0 quite a lot, because I try and do horses that are involved but are being pushed along. Clearly, some times, they still win and that can be what costs me the most.

However, I do have access to SIS and the quicker pics can enable me to pick up some mug money, or people just laying bets off. I was doing really well for ages and made about £1500 in three months clear profit, which is brilliant for me. The worst parts are losses and I spent my time recovering them a lot recently, through poor judgement, and get frustrated when I am not withdrawing funds, tending to chase losses through annoyance. I am at £220 at the mo so my error judgement has to be a lot less, and I find my 'boldness' has deserted me and I am not flying along as I once was.

I have a full-time job and am married, so winnings quickly get spent treating family and just affording things.


I really hope some others out there want to share their ideas, as I am a million miles away from being technical - well clever enough - to nick any ideas and mess there profits up – can use Excel but not to its full potential or anywhere near and have no idea about Visual Basic. I am hoping that, in a simplistic way that I can understand, maybe some here can swap ideas on how we can make more. If anyone can tell me how I can quickly minimise a loss, Id love to know, but it must be on betting assistant.

Are you all traders – it is something I have never got into and wonder how you can keep securing a profit with just market movements? Do you find it easy? Do win regular money without any real hindrances? What is the biggest pitfalls you have come up against? What has been the biggest and most costly error you have done – mine was trying to quickly lay a horse who missed the break while cash was up on the lay side, but after I clicked to send my lay up – with over ride odds was activated - and that annoying little delay kicked in, all the lay side had cleared and my 14.0 bet was matched at 14.0 and not something much shorter – needless to say it won!

I hope plenty will join in the spirit of this and I have been as candid as I can be. I am not a big player, but I do not think you need to be with the advantageous piece of software.

Lets all try and maximise our chances here and understand what we can do. I do appreciate some will not want to share and that is fine but id love this to be a well populated thread with people explaining how they use all the various software out there.

[The Gambling Monkey]

I'm surprised that with the SIS advantage you are not making more!

I have always held the view that those people with SIS must be raking it in. Would you say now that more people are betting wirelessly at the course and so now have taken the advantage away from SIS?

Due solely to Gary's programme I have learnt enough VBA to bet totally automatically. My strategy is based around Betfair's release of information regarding drifters and gambles. Some time ago they said that if you backed all horses that drift wildly in the 5 minutes before the start you come out winning and conversley if you laid all heavily gambled horses you would win. This is all in the long run as some days you will take a hit but overall you come out winning, not massively but winning nonetheless.

Good thread idea! I hope more people contribute.

[Dedes]

Hi!

I for once, hate horse racing. I'm always losing money. I prefer other sports, like soccer or tennis. And why do I lose money at horse? To start I'm not in the UK so no access to SIS, ATR, RUK. Nevertheless I've tried in-play beting but I think its to fast and to crazy: Odds jump around everywhere in those couple of minutes.

I haven't lost hopes of making some money on the horses so I try to be very careful. I've been trying some things and they've been working but with very small profits ( I use very small stakes too ). I just trade before the off, I choose the favourites because of the amounts of money available, and favourites not over odds of 4. I try to understand the movements of the odds and try to get myself on the right side. From time to time odds change to the direction I don't wish. If i'm quick and lucky I'm able to get out, if not I wait. Odds tend to come around a lot. If not, and only here, I wait for the in-play contest to try to get out because on in-play races odds jump a lot like I said before.

This is how I do it. But like I said I just trade horses once every two weeks. So, I'm not a very good trainer.

Nice topic and hope reading a lot of good ideas.

[one cool dog]

Hi, nice to see two answers already, let's hope for more.

SIS can be an advantage, but you still have to get your judgement right and it is not quite far ahead enough to be able to rake it in. Regional Irish meetings seem to have the most mug money available to hoover up via SIS, but as I said earlier, it still has to go right for you.

I timed Racetech versus SIS (which is the fastest satellite source of pictures) on Saturday and Racetech is almost a second faster than SIS, if not slightly more, and that is where people are making the money in-running. How they do it, I cannot see, because I am not aware of anyone being able to walk around the course with a laptop.

People often complain about photograph betting on Betfair, and someone again clearly knows a good few secs before the rest of the world who has won, as prices disappear before they are given on TV.

Give me Racetech pics, Gary's program and a bank, and I will make you a lot of money


Keeps the replies coming, even if they are very simplisitic.

[Ian]

There is nothing stopping you being at the racecourse and using a laptop. The majority of the bookies use them and some courses have set up wireless networks. You would still need to get a clear view of the race though.

[one cool dog]

Hi Ian

My understanding is that while bookies may have laptops, they are used for recording bets etc. I have never seen one ever used for an in-running senario, and I am not sure that is legal to do so by any bookmakers.

Also, I do attend a few meetings and I have yest to see a course that is set up for that situation - i.e. Joe Public able to bet on course with a computer. Where do you have experience of that, as it could be very interesting.

This thread has had quite a few views, but still only 5 replies. I hope some looking in while relent soon and spill the beans.

[Ian]

Nearly all oncourse bookmakers have access to the betting exchanges either on their laptops or are in contact with someone at home relaying the prices. You can also use a 3g card (eg Orange or Vodaphone) to access exchanges but this is slower than using the wireless network. I think the bookies pay a daily fee to use the network - around £15-20 - it uses the SIS satelite.

[one cool dog]

I was thinking about this today. Does anyone use a palmtop or something very small at a course and what kind of speed does a wireless connection give you there. I am on home broadband and am miles away from my socket, thus making it labourously slow and do not benefit from the full speed. I have no knowledge of a wireless connection speed.

I am not up with all the technology now but are there small computers, handheld, that can be taken to a course with a wireless connection that could use Gary's software?

Can anyone out there answer the above questions?

[Ian]

I use a laptop with an Orange 3g card on course. When you've got a decent connection its about the same as having dial up at home - perhaps a bit quicker but nothing like broadband. Gary's app does work Ok but you have to set the refresh to about 5 secs or else it's liable to freeze.

[one cool dog]

Fair play to you.

If you don't mind me asking, where do you set it up and what kind of strike rate do you have. I would guess that the dial-up speed would negate any advantage you have on the course which is a real shame. My SIS link would probably put me in front if you refresh at 5 secs.

[Ian]

I didn't mean to imply that I use the laptop for in-running betting - I don't, as I don't think I could read the race accurately enough. I just use it for general betting and getting an idea what prices the bookies should be going.

[SteelWeaver]

There are clearly some very, very clever people here that use the software at a much better rate than I do. I am very much a small player so my rules for Betting Assistant are -

Set the Lay at 14.0
Back at 1.5 (I will hardly ever back unless I am trying to recover some of a lay position)

My set lay for every horse is £4.40 (This is because, three lays comfortably earns me over a tenner, and allows for Betfair commission. I want to try and win a minimum of £50 a week, so £10 a day)

I've been doing something similar since yesterday, by triggered-laying the fourth horse in-running once the leader is under 2.0.
Only a single loss in 16 bets, I so I'm 6.5 points up in 2 days.... depending on the loosing frequencym it might turn out to be a losing strategy, but right now it's looking good.

[Meddler]

Unfortunately I can't help with the profiteering side of things - just look at my betfair account summary

But I started playing with the Betfair mobile software last week (handy for playing the football markets in the pub - no £20 minimum bets) and so far I really like it. Speed isn't a huge problem, occasional crashes are though (especially when trying to trade). As a first stab though it looks good.

This might help on-course (or sitting quietly in a betting shop )

[thunderfoot]

Not my strategy, but someone seems to be clearing the 'Pot' in about the last 5 seconds of a race.

Been doing some work on the Betfair data downloads and was surprised how often the odds of around 1.05 were 'cleared-out' in the last 5 seconds of a race. This is based on the recorded time in the 'Last Taken' column!!! The 'Last Taken' time shows the same quiet often, and is usually about 5 seconds before the end of the race and at around the 1.05 Odds level.

One damn good 'bot'!!!!