Bots vs Humans
Skynet is my nickname for "Betfair Bot" 
I find it appropriate since it's very hard to defeat the bastard.
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rinconpaul
- Posts: 112
- Joined: Wed Dec 03, 2014 10:39 pm
Bots can't be beaten for ruthless application of a set of rules, formulated by a human.
My bot will make 4 times as much as me, applying those rules, without fear or emotion getting in the way.
My bot will make 4 times as much as me, applying those rules, without fear or emotion getting in the way.
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hockey_nut
- Posts: 4
- Joined: Wed Sep 16, 2015 10:25 pm
I find bots directed by humans do best.
What do I mean by this?
Human does the handicapping and comes up with a set of cutoff prices for all tracks, races, horses of interest that he wants to back or lay.
Bot goes to work to read market prices and try and get best price across all tracks of interest that are running.
Be careful what tools you use to read prices and cross in the market. If Betfair feels they look similar to something someone else is using, they may link your accounts and accuse you of having a "single strategy" with others. Suspect this is what happened to my friend who was independently handicapping horse racing for a while, took a break, and got an email that Betfair was seizing more than 30k from his idle account that they decided to link with 2 others.
What do I mean by this?
Human does the handicapping and comes up with a set of cutoff prices for all tracks, races, horses of interest that he wants to back or lay.
Bot goes to work to read market prices and try and get best price across all tracks of interest that are running.
Be careful what tools you use to read prices and cross in the market. If Betfair feels they look similar to something someone else is using, they may link your accounts and accuse you of having a "single strategy" with others. Suspect this is what happened to my friend who was independently handicapping horse racing for a while, took a break, and got an email that Betfair was seizing more than 30k from his idle account that they decided to link with 2 others.
This is why you only keep an "irrelevant" bank on your Betfair account, the necessary optimum/minimum amount that you need for work. The rest should be regularly withdrawn because your money is not 100% safe in Betfair's hands. If anything happens to that money there is nobody to blame but yourself.
Bottom line, Betfair has the right to come up with any random reason whatsoever to take your money and there is absolutely nothing you can do about it. On top of that you need to worry about their security as well, 2-step authentication helps but it's not the flawless security system that everyone seems to think it is.
Bottom line, Betfair has the right to come up with any random reason whatsoever to take your money and there is absolutely nothing you can do about it. On top of that you need to worry about their security as well, 2-step authentication helps but it's not the flawless security system that everyone seems to think it is.
hockey_Nut you might be interested to know that whilst chess software capeable of fitting in a i-phone can beat even the best grand master its been shown that a human chess player working in conjunction with chess software will beat a computer by its self.
Well if you're around the same age as me, no doubt you would have tried to crack the Rubiks cube when you were younger!
Ive put it in this section as an analogy as to why I like automated systems V manual trading; enough said!
http://www.bbc.co.uk/newsround/35436827
Ive put it in this section as an analogy as to why I like automated systems V manual trading; enough said!
http://www.bbc.co.uk/newsround/35436827