bet in play bot help

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master4eva
Posts: 4
Joined: Tue Feb 20, 2018 1:47 am

hello i was wondering if somone could help me i would like to create a bot in play which will place a back bet of £10 on the first horse to trade at odds of 1.80 in play.
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gazuty
Posts: 2192
Joined: Sun Jun 26, 2011 11:03 am

master4eva wrote:
Tue Aug 10, 2021 6:48 am
hello i was wondering if somone could help me i would like to create a bot in play which will place a back bet of £10 on the first horse to trade at odds of 1.80 in play.
Have a look at this viewtopic.php?p=96559#p96559 and do the reverse.

As a strategy, I'll wave at you as I pass the poor house. That bet will definitely be matched if the horse goes on to lose. The bet may be matched if the horse goes on to win. You will need an amazing strike rate - good luck.

While I'm at it - have a read of the guidance - viewtopic.php?p=265873#p265873

Write down this stategy in your google doc and diary you are keeping. See what happens. If it is loser, don't just consign it to the dust bin, write down that it is a loser and why it turned out to be a loser - form your own views about why it turned out to be a loser. If it is a winner, you keep it, but you right down why it is a winner and you keep going.
master4eva
Posts: 4
Joined: Tue Feb 20, 2018 1:47 am

thank you for your reply and help i will have a look at the links you sent, what happend was i have been watching the aus horse racing over right in-play and almost every time the first horse went short in price in play (1.50) it went on to win the race, so i was thinking if i could have a bot which only placed a bet once them odds were reached i could maybe make a profit but i guess the problem would be getting matched as the priced would go pasted my entry point to fast in play?
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ShaunWhite
Posts: 6941
Joined: Sat Sep 03, 2016 3:42 am

Try to switch your thinking round. It's an exchange so rather than looking for an opportunity to bet, look for opportunities where those who are betting (backing or laying) are losing to you. 95% of people who try Betfair go on to be long term losers so think about what's making them losers and how you could capitalise on that.
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ShaunWhite
Posts: 6941
Joined: Sat Sep 03, 2016 3:42 am

...liquidity in Aus in-running markets is so low that all the time and effort you put into it might not actually make you much money. Your profits generally will be edge * stake * opportunity. Even with a good edge and lots of Aus racing, if you can't turnover enough cash it's not going to make much money especially given the higher Aus commission rates.
master4eva
Posts: 4
Joined: Tue Feb 20, 2018 1:47 am

ShaunWhite wrote:
Tue Aug 10, 2021 2:43 pm
...liquidity in Aus in-running markets is so low that all the time and effort you put into it might not actually make you much money. Your profits generally will be edge * stake * opportunity. Even with a good edge and lots of Aus racing, if you can't turnover enough cash it's not going to make much money especially given the higher Aus commission rates.
yes what you say is very true, the rates on the aus markets at some courses are sky high!! and liquidity very low its a shame because there is so much racing, i wonder if one day we could have a shared pool with everyone?
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ShaunWhite
Posts: 6941
Joined: Sat Sep 03, 2016 3:42 am

master4eva wrote:
Wed Oct 13, 2021 10:06 pm
I wonder if one day we could have a shared pool with everyone?
It's weak because in-running betting isn't allowed in Aus.
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goat68
Posts: 1442
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

ShaunWhite wrote:
Tue Aug 10, 2021 2:38 pm
Try to switch your thinking round. It's an exchange so rather than looking for an opportunity to bet, look for opportunities where those who are betting (backing or laying) are losing to you. 95% of people who try Betfair go on to be long term losers so think about what's making them losers and how you could capitalise on that.
So logically switching it around, laying if under 1.8 sounds plausible, and one of my early aus bots did that as it showed longer term profit, probably due to this sort of thinking...
However, although being better than backing, it suffered long term as the market goes through phases when horses all seem to win, and the heavy net affect of aus commission meant it was also long term net loser, just not quite as bad as backing was!
So back you lose, lay you lose,...what's the answer nobody knows (except for 5%!)
Anbell
Posts: 1211
Joined: Fri Apr 05, 2019 2:31 am

ShaunWhite wrote:
Thu Oct 14, 2021 12:54 am
master4eva wrote:
Wed Oct 13, 2021 10:06 pm
I wonder if one day we could have a shared pool with everyone?
It's weak because in-running betting isn't allowed in Aus.
This is not true
Anbell
Posts: 1211
Joined: Fri Apr 05, 2019 2:31 am

goat68 wrote:
Thu Oct 14, 2021 7:50 am
So back you lose, lay you lose,...what's the answer nobody knows (except for 5%!)
OF COURSE this is true. I'm surprised that you haven't internalized this already.

If it was that easy everyone would be doing it, and the 5% would be the 95%.

And how does that make sense?
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