Looking for someone to give me feedback

[JakubStefanik]

Hello ! first of all i am not native so i am sorry for sentences that dont make any sense

Last few days i have been working on my bot, but i am not sure if i am only lucky or i am on good path to create something. Basically it is laying current horses during play based on their position to favorite and few other parameters. Also i only pick certain types of markets which were perfoming well for me. In 3days in practise mode testing and changing few rules i was able to make around 300 pounds in profit with 10 pond lay stakes.(only in practise mode). If someone has time and is so nice to give me feedback what can i improve, for example to minimize risk or improve slightly profits, pm me and i can send you files so we can take a look together.

Thank you for your time, have a nice day and lucky hand!

[Jukebox]

Welcome Jakub and your English is clear enough for this forum.

Just a warning for you before you develop your bot too much.
There is a big difference between Practice Mode and Live Mode and its especially so in-play where the prices move very quickly, there can be big gaps and amounts you put out there can't be seen and taken by other traders and any amount you want to match will magically match against the smallest of money available at a particular tick.
All this will mean that a successful Bot in Practice Mode will be very different in Live. Use Practice to check it works how you intended but judge its profitability in Live with small real stakes.

[ANGELS15]

jukebox has made excellent points. I've never used practice mode but I do get the impression that it can be misleading, a bit like people playing fruit machines in 'demo' mode where in the 'demo' mode they will win more often.

Why not use small stakes in real mode as Jukebox suggests? Perhaps pick a few races at a time and use £2 stakes and test your theories over a few weeks.

One other thing from reading many other threads on practice mode, too much use of it can get your account suspended as you are effectively using Betfair's data for free without them gaining any commision from you.

Also it would appear from other threads again that Betfair no longer provide a phone helpline so if you were unfortunate enough to get your account suspended, you may struggle to get someone to help you. I believe they now expect customers to use their 'live chat' service.

[sionascaig]

Its a little bit unclear from your post whether you are placing £10 lay bets or £10 lay liability bets... If the former I'd change to "lay liability" bets & as someone else suggests think about using minimum stakes in live mode until you gain more confidence of your system.

Practise mode is great for testing that your automation behaves as you would expect but will not give a good indication of profitability...

Have fun...

[JakubStefanik]

Thank you for all your replays!
Today i am going to test markets one last time and tommorow i will try live mode on few markets with small stakes. I just have one more question, is there any chance to increase probability to get my lay bet matched ? For example creating rule to place second lay bet in worse/better price if first lay bet wasnt filled in ? not realy sure if it would work

[Headless Chuck]

Thank you for all your replays!
Today i am going to test markets one last time and tommorow i will try live mode on few markets with small stakes. I just have one more question, is there any chance to increase probability to get my lay bet matched ? For example creating rule to place second lay bet in worse/better price if first lay bet wasnt filled in ? not realy sure if it would work

I offer an initial price two ticks higher than current, using a VLOOKUP to a table of valid prices.

[Jukebox]

The bigger the price you offer the backer the more likely it is to be taken and Betfair will always match you at the best price available. So laying at Second Best Price (for you) is more likely to get you matched than laying at Best Price - and you will still get best price if it is still available. Take care though, in-play markets usually have lots of gaps in the prices available and the difference between Best Price and Second Best Price can be large.

[JakubStefanik]

Are those gaps so big even in high volume markets with big liquidity ? For example UK horses.

[Jukebox]

Are those gaps so big even in high volume markets with big liquidity ? For example UK horses.

Yes they can be, not many traders are looking for only one or two ticks in play because the risk is so high and offered money gets withdrawn quickly or grabbed as the race develops with everyone trying to be the quickest *- but you had best judge for yourself.

*Even you at this early stage are already looking to grab the money on offer before its snatched away and you miss your chance so imagine the seasoned traders you'll be up against.

[JakubStefanik]

That makes sense thank you all, i will keep you updated