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Comments ( 9 )

• Stefan

  8.8.2020 13:09:11

  There is no need for any programming if your strategy can be executed by setting pre-built bfexplorer bots:

  http://bfexplorer.net/Products/Feature/23#My%20betfair%20bots

  If your bot strategy needs programming up to 30 – 60 minutes of my time, then I do such bespoke bot scripts for free. On the forum you can find a lot of such scripts:

  http://bfexplorer.net/Articles/ByTag?tag=Case%20Study

  And of course for more complicated bot strategies you must pay for my work, it starts from 150 GBP, what represents 5 hours of my work.

• dnx444

  8.8.2020 15:42:12

  Thanks for the reply. I noticed that the lay the favourite one isnt on the list, where would I be able to find that?

• Stefan

  8.8.2020 17:05:28

  There are maybe zillions of different betfair strategies one could execute, but it does not mean that for any such betfair strategy you need dedicated bot, program executing such strategy.

  Just think about it what does it mean lay favourite?

  We know that lay bet will be placed.

  We know that the lay bet must be placed on the favourite.

  Bfexplorer offers general bot named “Place Bet”.

  What such bot can do, just by judging from its name?

  Well, of course it can place bet, set by parameter: BetType.

  In our case we need to set this parameter to Lay.

  We need to place such bet on the favourite, so setting the parameter SortSelectionsBy to “Last Price Traded” will sort market selections by price/odds, the favourite will have index 1, the second favourite 2, and so on.

  As we are instructing the “Place Bet” bot to do what we want in our strategy, what is missing?

  Of course the selection on which the lay bet will be placed, and the parameter to set is: ExecuteOnSelection. As the favourite has index 1, we set the parameter ExecuteOnSelection to 1.

  And that is all we need. Of course all bfexplorer bots where the above parameters make sense, so BetType, SortSelectionsBy and ExecuteOnSelection have such parameters.

  Now we can save the bot settings naming it: “Place lay bet on favourite”. Naming the bot settings and saving it, adds the bot to the list of “My Strategies / Bots to Execute”, and such bot settings become general use for any case we need to lay favourite on the market.

  Of course bfexplorer bots offers a lot of different parameters, each of them just from naming suggests for what they can be used, and there is parameter description provided as well, so just read the screen.

  The above bot settings does not define any entry criteria, so if your strategy have any such criteria you can set them on Entry Criteria of the bot settings dialog.

  When I mentioned “general bot settings” or “action bot” settings I mention in many blog posts, then even if your strategy is super complicated trigger, or machine learning algorithm triggering bet placing, then any time in such complicated strategy you need just simple “Place Bet” bot.

  Well yes, I said simple “Place Bet” bot, but it actually is not so simple program, as it manages bet placing and updating not matched bets when odds moves and odds are still in allowed odds range to place a bet, or cancel unmatched bet when bet placing is not allowed at in-play, the parameter: AllowPlacingBetInPlay, and so on.

• dnx444

  9.8.2020 6:59:36

  Thank you for that info. Its starting to make sense now. So how would I do it so once the target profit is reached the bot will stop?

  I've looked at the Execute Till Target Profit bot, but can not see an option for it to place a lay bet? Would this be the right one to use?

• Stefan

  9.8.2020 7:58:42

  You must clearly express your intention.

  Is your profit target meant to be generated by closing bet position on one market, so trading?

  Or is it your target profit generated by continues betting or trading on more markets?

  You instruct bots to automate your strategy by setting bot parameters, or just by putting more bots in continue execution. Just a common sense dictates that computers do not think yet, only execute set of exact instructions. You do not declare exact instructions yet from your description.

• dnx444

  9.8.2020 13:52:36

  So this is how I would like it to perform. It will be completed on horse racing and grey hounds. Ideally it will be perfromed on single race meetings. So it will start at race 1, with a lay bet on the favourite -00:00:30 to jump time. A predetermined stake will be set eg $10, which will be the target profit as thats how the lay bet works. If the the bet wins, target profit will be achieved and bot will be executed with a profit of $10. If the bet loses, the next bet will be placed on the favourite in race 2 as a lay, again -00:00:30 to jump time. The stake will be $10 plus the liability of the first bet in race 1 and then so on, if it wins it stops and if it loses the liability of race 2 will be added on to the $10 stake and will contine until the $10 profit has been achieved. Also unsure if there is a possibility to include the betfair commission into all of that as well. Hope this makes sense

• Stefan

  9.8.2020 20:14:46

  Yes, you can execute this strategy using “Place Bet” bot, and “Execute Till Target Profit” bot, create two bot settings using “Execute Till Target Profit” and name them differently, because it is clear that this bot must check your results, and it creates result service/s by assigning them name of the bot to distinguish among different result market queues.

  To execute your strategy in full automated mode use the tool: “Bot Executor”.

• dnx444

  12.8.2020 5:12:23

  I think of got it running successfully. Is it possible to run multiple of these bots at the same? like one on each race meeting?

• Stefan

  12.8.2020 11:02:15

  Yes, you can do so. Always create “Execute Till Target Profit” settings with unique name for each strategy you will execute.