The bets are put into the market at the lay side price and the option to take the Betfair starting price is generally used to ensure the bets are always matched.
The user can also add weight to the 3 readings and final ratings by nominating a loading factor to each reading depending on their importance, as determined by the user.
Four choices from the most important reading to the least important reading are as follows – Highest, High, Average and Low. So if you think the last reading is more important in the market movements then you can weight this reading higher than the other readings to give more importance to the final selection criteria. The same can apply to the first market reading or middle market reading if you believe there are more important market indicators at that time period.
Generally 80% of the pool usually comes into the market in the last 10 minutes of betting. Readings are taken during the 3 snapshots and are weighted according to these settings and are formulated to form a final rating which helps determine the bet or bets in the selected markets.
You can select the number of horses to bet on that qualify from one horse upwards.
For Dutch betting, you can also select from 1 horse upwards.
You can select the bet type you require and your stake. At present the bot allows bets from 2 to 300 in your countries currency.
The stop profit, stop loss functions are now based on the bet amount, not the bankroll as in the version 1.5. They are now a multiple of the bet amount, not a percentage as before.
Race filters allow you to select which country you wish to bet on, along with the min and max number of runners in a race and the odds range your selections need to be within to qualify for a bet.
29 pre-installed systems are delivered with the bot and you can create an unlimited numbers of systems. The author will provide regularly new systems that suit the best the current period of the year.
Once your system is set and the day’s races are loaded then the bot looks for selections that meet your criteria. If more than one horse qualifies then the bet is always placed on the shortest priced runner within your price range.
For example, if you have 3 horses that qualify but you only have selected one horse to bet on, then the system will always bet on the closest runner to your minimum price requirement regardless of the rating. It may well be the lowest rated horse from the three qualifiers.
Scanning Times & Weighting
Scanning times are set to take snapshots of the betting market (in increments of minutes before the race start time). Typically 3 snapshots can be taken and the bot uses the difference between each horse’s price to formulate the final rating. The snapshots used in the rating configuration are time 7 to time 5, time 5 to time 3 and time 3 to time 1. You can reduce the number of readings to 2 or 1 by setting the same time in the scanning times. See below where in Australia I only use 2 scanning readings. You can put weighting into the ratings by selecting from the drop down box to select Highest, High, Average or Low. If you believe the last scan is the most important indicator in a race then you would select highest for this reading if not you have 3 other choices from high to low.
Scans 2, 4 and 6 are just scans to provide on screen updates of the race. If you are not sure how you should weight the rating for each scan, then simply set them all to highest.
Selection’s rating range
Typically experience tells us somewhere between 90 and 150 to be the optimum setting. After paper trading for a few weeks (which is what we recommend) you can examine your results and modify this value to best suit your system.
Minimum volume % of a selection
Here you can set a percentage of the amount of money that is traded on a horse before a bet is considered. You can set this to 0 to ignore this criteria if you wish. Money traded will differ greatly from the UK to Australia as will country to city meetings.
Minimum 1St Favourites back price Set the minimum odds the favourite needs to be before a bet in the race is considered. Mine is generally set at 2.40. So any race where the favourite is shorter than 2.40 the bot won’t place a bet.
Minimum 2nd Favourites back price Set the minimum odds for what the second favourite needs to be before a bet in the race is considered. Mine is generally set at 3.60. So any race where the second favourite is shorter than 3.60 the bot won’t place a bet.
If your system is aimed at betting on favourites that are market movers then you would probably have these two settings very low, even the same like 1.40.
By ticking the (Unless 1st favourite is the highest rating box), the bot will ignore the favourite rules if the favourite is the highest rating and will place a bet on the favourite only if all the other criteria matches. You should only tick this box really if your system is aimed at backing short priced runners.
Ignore favourite rule if the horse rating is greater than You can still back a horse that rates highly by ignoring the favourite rules and setting the minimum rating value here that the horse must be. I have this rule engaged at 150. If you want to ignore this rule altogether then don’t tick the box.
No bet if more than X horses are rated over X This rule stops bets being placed where the market is confused and too many horses rate highly. So as a guide I won’t auto bet in a race where more than 3 horses rate over 100. If you want to ignore this rule altogether then don’t tick the box.
Maximum number of selections/bet per race You can select the maximum number of qualifying horses you want to bet on in a race by entering a value from 1 upwards. If you want to ignore this rule altogether then don’t tick the box.
Dutching – Maximum Dutch back book % It is calculated by dividing, for each selection, 100 by the odds of the horse, then we add this result for each horse and we have the Dutch back book %. If this amount is higher than the maximum dutch back book % (“Max. Dutch back book %”) in the Settings, then there is no bet.eg. 3 selections (rating higher than the minimum rating):
The odds of the selections are: 2.4, 3.2 and 5.6:
We calculate like this: 100/2.4 + 100/3.2 + 100/5.6 = 41.66 + 31.25 + 17.85 = 90.76%
If the “Max Dutch back book%” was set to 75%, there is no bet.
Tick this box if you wish to use this feature and set the maximum %. I set this at 50% for Dutch betting.
Here you can set the minimum market volume traded in dollars that you want before the bot places a bet. You can also set the maximum market back book % so you don’t bet into poor value markets.
I generally set it to $1000 and 108% to somewhat bypass these rules. But if you only want to bet into strong value betting races only then you would probably set it to $100,000 in Australia and $500,000 in the UK and Ireland and 101% to 103% for both.
If you want to ignore this rule altogether then don’t tick the box.
Select your bet amount and type of bet from the two drop down boxes. Here you can select Dutch amounts to win or Dutch amounts to lose along with win, place and each way options. If you bet $20 and then select 40% Win and 60% Place then the bot will place $8 win bets and $12 place bets if all the criteria is met. If you select Dutch to lose, then the bot will place $20 worth of bets on the qualifying horses. If you select Dutch to win, then the bot will place a sufficient amount of money on each selection to try and win $20 on the race.
If you tick this box, then enter a number that will represent a multiple of your bet amount that will be used to calculate a value for the bot to stop betting when that amount of profit is reached. So if I am betting in $20 amounts and I enter 5 in the box, the bot will automatically stop when a profit exceeds $100 ($20 x 5).
If you tick this box, then enter a number that will represent a multiple of your bet amount that will be used to calculate a value for the bot to stop betting when that amount of loss is reached. So if I am betting in $20 amounts and I enter 5 in the box, the bot will automatically stop when a loss exceeds $100 ($20 x 5). If you tick the trailing stop loss, then the bot will always stop betting after the same amount is lost but it will follow any earlier profits before stopping. For example if you reach $80 profit early on and then have a bad run the trailing stop loss function will stop the bot betting if you get to -$20 ($80 minus $100 = a new stop loss value of -$20).
Here you can select what countries (Great Britain, Ireland, Australia, United States, South Africa, France, Singapore, Japan, Sweden and Unites Arab Emirates) and what race types (Flat, Jump, Trot/Pace) you wish to load for betting by ticking the boxes. You can select the minimum amount and maximum amount of runners you want in a race by using the drop down boxes. You can select the minimum and maximum odds for your bets by using the drop down boxes.
Always tick the option Convert to SP if unmatched bets are left before the market turns to in-play This will ensure all unmatched bets will converted to SP (starting price) odds and be matched.