Each way Bet Automation

[Emtaxx]

Hi all, hope you've all had a good weekend.

I've created a few bots now and its going okay.

I now want to tone down the risks a little and create another bot, with the function of an 'Each Way Bet' a win bet and a place bet.

Is this something which is possible to do?

Is there an option to select each way bet or would I have to create a few rules to get this to work.

Thanks you

Em

[Emtaxx]

Just got back home from work and I've had a look.

Not an option for an Each way Bet in general for the rules.

Any chance this could be added in?

Thanks
Em

[Emtaxx]

Hi all,

I've answered my own question here. FYI for anyone else wanting to know or do similar strategies, upload the PLACE markets

and then should all be good to go, fingers crossed we get some steady low risk cash flow!

[Anbell]

Hi all,

I've answered my own question here. FYI for anyone else wanting to know or do similar strategies, upload the PLACE markets

and then should all be good to go, fingers crossed we get some steady low risk cash flow!

Good luck.

A couple of things: 1) Each way is a specific technical thing that is different to place plus win. 2) Backing things with lower prices doesnt mean that the risk is lower.

[Emtaxx]

Ah yes after doing some research it looks like the Each way bet is the 'win' plus the 'place' bet

So I'm essentially creating an each way bet anyway. The lower odds does not mean is less risk correct, Maybe you're missing the point of the 'Place' bet?

Its when the horse finishes Place or wins depending on what type of race it is (how many horses are on track dependant on how many 'places' are given), it can be beneficial to suit a certain strategy you're after

Em

[Emtaxx]

Hi all I've had some issues with trialling this last week, but I'd like to develop this bot to where I need to.

Does anyone know how I can apply my Win bet bot to then also place a back bet on the place market on the same runner when the Win bot fires.

I've had a look lastnight but wasn't sure what would work and also tried using the bet angel AI which is pretty good tbf, however still not as specific as required to answer my questions.

Thanks in advance

[jamesedwards]

Hi all I've had some issues with trialling this last week, but I'd like to develop this bot to where I need to.

Does anyone know how I can apply my Win bet bot to then also place a back bet on the place market on the same runner when the Win bot fires.

I've had a look lastnight but wasn't sure what would work and also tried using the bet angel AI which is pretty good tbf, however still not as specific as required to answer my questions.

Thanks in advance

You save a stored value at event level on a rule applied to the win market, then use that to trigger a trade in a separate rule applied to the place market.

[Emtaxx]

Thanks James I'll have a look when I finish work. I'm feb up of back win bets coming second place.. and thought surely there's some profit to be had here... Not sure.

I'm sure someone else does a similar thing and could tell me there is value in placed bets. Its just a safe guarding strategy. Wont create massive wins but steady income

[jamesedwards]

Thanks James I'll have a look when I finish work. I'm feb up of back win bets coming second place.. and thought surely there's some profit to be had here... Not sure.

I'm sure someone else does a similar thing and could tell me there is value in placed bets. Its just a safe guarding strategy. Wont create massive wins but steady income

Beware, unless you have reason to believe you have a +EV expectation on the place bet then you'll just be throwing good money after bad.

[Emtaxx]

Yeah I believe I would have +, its what my bots are based off anyway, I just need to look at the place markets compared to wins and see if they follow one another in their trends some what. But needs further eye balling

[ShaunWhite]

There isn't always the incentive for a good horse to pick up peanuts in place money, finishing down the field can result in a lower handicap rating and less weigh next time out. Or if it's beaten they might not be pushing it too hard for no good reason. Place prices aren't straightforward.

I agree with James, it's hard enough to find any value on one market let alone trying to do it in two. Don't put too much emphasis on what you've seen in a handful of races, humans suffer badly from recentism, rather than being able to judge the course of events over hundereds or thousands of races.