Betfair bots – How to choose one from many

Posted by on May 7, 2011 in Betfair bots

Nowadays there are plenty of betting software and bots for Betfair. Only official Betfair listing contains around 20 different software providers and some sell more than one betting bot. For a novice who is looking for a good and producing software it might be very hard to choose the best Betfair bot. So what one should look for if he wants to make a right decision?

First of all, you should consider what is your purpose of using a betting bot. If you wish to trade on Betfair you may need a trading bot. If your goal is to automate a betting system you may consider using a staking plan software. If you are a member of a tipster website you must look for a bot which supports your betting system requirements.

Let’s talk about Betfair trading bots. It’s a software which makes profit “backing” and “laying” selections on Betfair markets, usually in horse racing. You earn from difference between layed and backed prices. Because horse racing markets on Betfair are very volatile (especially inplay), it’s common that prices move up and down just like on a regular stock market. You can set up rules to trade automatically, for example when prices reach some point. If you are going to trade, look for Betfair bots which have stop loss, greening up features, as well as ladder interface, plus a kind of loss recovery system.

Now, how to choose a bot for betting system. The common feature for these betting bots is ability to load Betfair markets as a list of preselected bets. Usually it’s possible to choose what races you want to load. For example, you can load only UK or Australian races, select course name, distance, class, etc. Also such betting software has a list of staking plans. Level stakes, Fibonacci, Maria, recovery, bookies bank just to name few. Another feature is conditional betting. In such Betfair bot you can set a betting criteria. It can be minimum and maximum odds, number of runners in a race, matched volume, difference in odds between favorites and many others. The bot will bet only when all conditions are met.

Of course, take into account the price for betting bot. Most vendors are selling their Betfair software on subscription basis. But there are some bots for one off payment as well. Try to contact support, check that they reply quickly, make sure they will be there if you need a help.