Lay every event at 1.01

[deankenny]

I know it's a pretty noob thing to do but i want to lay every event at 1.01 as the market is created by betfair.

I have been through numerous amounts of bots and a few hundred quid later I still cannot find or work out how to get this done.

Any advice much appreciated whether I can do it on angel bot or similar and how I would go about this.

[kelpie]

I think there has to be a manual element. You have to select the markets in Guardian and then point your bot at them. But you can do this every few days, shouldn't be a drama

Would you not be better to wait for the markets to go in play?

You'll need to select markets carefully. I have heard of people making a profit on horses this way, probably tennis would work. Not cricket or rugby or soccer, my guess. You have to have a lot of data behind you to suck up 90 losses in a row before you win one.

Good luck

[LinusP]

Horses is profitable if you can be the guy who gets there first I believe this involves having a bot that works out the market id and placing the bet as soon as it opens.

[kelpie]

Horses is profitable if you can be the guy who gets there first I believe this involves having a bot that works out the market id and placing the bet as soon as it opens.

Learn something every day

And here was me thinking there were limitless mugs backing at 1.01

Could you not just get your bot to lay at 1.02 when the first tranche of 1.01 matches? I know you have to win every fifty markets or less but you're also buying near 1.01 touches only; just a thought...

[deankenny]

Thing is, which bot is that No one will say, which truly makes me believe how succesful it is when things are not shared.

[LinusP]

Could you not just get your bot to lay at 1.02 when the first tranche of 1.01 matches? I know you have to win every fifty markets or less but you're also buying near 1.01 touches only; just a thought...

Thats a good point, hadn't thought of that but speed will come into it then.

What do you mean by bot deankenny, it would have to be done by someone who can program, python, VB...

(Note there is already £900 at 1.01 on all the wolves horses for tomorrow)

[deankenny]

That's the thing, it's all about being first in queue and having a bot ready and fast enough to detect when markets are first available to whack the bets down straight away.

[gazuty]

I spent a lot of money to determine what is profitable over many many events for most amounts below 1.21. I did every single race for many months for real money.

I'll give you some free advice. 1.01 is not profitable - because you won't be the first in the queue at 1.01 or 1.02 or even 1.03. Although I have had the satisfaction of two matched at 1.01 on more than 1 occasion, it feels good but then it didn't happen often enough to be a positive long term winner for me.

You might be up at various times with 1.01 but don't be fooled.

That is my 2 cents worth.

[mugsgame]

The difference between 1.01 and 1.02 is huge in this game.
Getting matched at 1.01 in every event is not possible. It all works so well on paper, as many things do. This is a definite non starter for me.

[kelpie]

Just for clarity, i'd listen to gazuty and mugs here, I've never traded on 1.01 myself, I was just sharing ideas

1.01 does sound like a winner on paper but pants in practice

[herbie]

i dont think betfair will let anyone in first

[spreadbetting]

I wrote a bot years ago that continually searched for new events and placed 1.01's whilst also checking the current queue. Gave up on it as you need to be in first for it to be worthwhile and as far as I can remember there was always money in the queue. So either someone else was very fast or Betfair were populating the initial market. I was hitting the site every second so I'd assume some of those would hit as the market went up even if some were 1 second behind.

[gazuty]

So either someone else was very fast or Betfair were populating the initial market. I was hitting the site every second so I'd assume some of those would hit as the market went up even if some were 1 second behind.

Sometimes I was first, but mostly not. It's not betfair. Others are motivated with super fast bots and connections.

[kelpie]

Not being a 1.01er this is foreign territory for me, but out of interest, can I ask those who have trodden the 1.01 path

if lays at 1.01 are most likley (inevitably?) unprofitable is it nevertheless profitable to back at 1.05 (say) if already matched at 1.01?

ie, profit from the near chokes enough to cover the full chokes

[gazuty]

Not being a 1.01er this is foreign territory for me, but out of interest, can I ask those who have trodden the 1.01 path

if lays at 1.01 are most likley (inevitably?) unprofitable is it nevertheless profitable to back at 1.05 (say) if already matched at 1.01?

ie, profit from the near chokes enough to cover the full chokes

No. You are cutting too much from your profit base at 1.05. 2 maybe, not 1.05 IMHO (untested by me).

Some days were gold, absolute gold. But then there were months of draw downs, months. And the mental pain of loss meant I didn't complete the full year. I spent what might be considered serious money on my search for profit below 1.21.