BlogRead the Latest News

 

Sky Bet, Flutter, Betfair – A goliath is created

On Tuesday the 5th of May a mammoth betting conglomerate was formally created. What will be the impact on the industry?

The merger of Flutter PLC, the owner of Paddy Power and Betfair, with the Stars Group, a Canadian operator that bought Sky bet in 2018, was proposed last year. It was cleared by the competition commission and formally ratified by on Tuesday.

To learn more about Flutter PLC and it’s background follow this link: –

https://www.flutter.com/investors

To learn more about Starts Group and it’s background follow this link: –

https://www.starsgroup.com/the-stars-group/financial-and-corporate-information

According to industry figures, published in the Racing Post, the combined revenue of the group will be £3.8bn. By combining certain operations the group estimate it will save them £140m in costs. But more importantly, they will become an absolutely massive gambling group with a far reach across multiple territories in the world.

Both sides have stated that they’re quite keen to see geographic expansion in the US and in other territories. So they are looking to cut costs, but also grow market share. The combined group will have a market share of about 38% in the U.K. and it’s a surprise to see the Competition Commission allowing a merger on this scale. Especially when you consider they’ve blocked many smaller mergers in different industries.

Are Bet365 worried?

The merger probably strikes fear into Bet365 the most. Last year, Bet365 announced revenue nearing £3 billion. So when you look at that against the combined Flutter group, you can see that they’re fairly close. This obviously a played a part in this merger, to get on par with somebody like Bet365.

From a strategic perspective, mergers are classic corporate games.

It’s a quick way of reaching scale. But I do question in the betting industry whether the scale is as important as you would think? A lot of the revenue that these companies are generated nowadays, as Bet365 has shown, online. Of course, in general terms, a website can be replicated across the world quite easily with relatively few staff and therefore becomes more of a marketing issue rather than one of scale.

Mergers and scale

Traditional companies tend to look at scales of economy to achieve a number of cost savings. But I’m just not sure that this is necessarily a strong case when you’re looking at something that’s run as a website?

Of course, the Flutter business is quite complicated now because they have a combination of Web sites, different brands and betting shops.

I would have thought it would have made more sense to create a giant betting company based around a brand of websites, rather than having bricks and mortar included into the mix as well. You do wonder what’s going to happen to betting shops over time, especially when they have fallen out of favour with the legislators. The ease and constant access to online gambling is so prevalent nowadays.

On the broader basis of mergers, I’ve always been a little bit sceptical, but that is because of my past experience working for merged companies. It’s about the only time in the world where one plus one equals one and a half.

As companies merge, they begin to find synergies and therefore start to strip out costs that are duplicated across organizations without particularly taking into account why some of these things are in place. They are often legacy issues that create additional structure within a company. Things happen to make sure that the company function and when you strip it out as things no longer function the way that they intend.

Again, this would be a little bit easier if you decided to have Web sites that would merge and achieve a greater reach through the brand. But when you have companies that are very different, it’s a little bit harder to make that work for you and cost savings never really come, but as management has committed to them, they try and make them work. Even if it makes no sense.

My experience of mergers

My experience with mergers in the past is that not only do you get a misalignment in terms of the way that companies function and sometimes that indirectly affects the way that the business is run. But also you tend to find that if you’re a small part of a larger organisation, then you tend to get forgotten. The corporate goal overrides any individual business sense that can occur within a division.

My experience of this was working for a niche of a larger business. I was brought in several times in my career to work with and promote a product line within a larger corporate. But the issue that I always faced was that the corporation wasn’t flexible enough or wouldn’t understand well enough exactly what I was trying to do. I always had to fit in around the corporation rather than fit in around the needs of the individual business within which I was working.

As a consequence, you were given an objective and target that were no longer able to reach because the larger corporation wouldn’t flex to your needs and those of your customers. But it was always the corporation that would win out. As a consequence, it was always a bit of an uphill struggle. I always argued for my own business unit, my own accountability for profit and loss, and the ability to make my own decisions.

But never got it in my ‘normal’ career. Which was more or less the reason I left a normal career.

Paddy Power & Betfair merger

When Paddy Power merged with Betfair. They initiated a one account project where they decided to merge some of the infrastructure to run on the same system. The same thing happened with the Betfair website so that the architecture would flow through the organisation.

That creates problems in terms of how that is managed, but also in terms of the business priorities within each of those divisions, it’s very difficult to unravel something once you’ve started to tie it up in knots. You get unintended consequences as well and you can see this in some of the post-merger activity that has taken place with the Betfair exchange when Paddy Power merged with Betfair.

Betfair had a strong account presence in Canada, it was a sort of backdoor to the US market. When the merger between Betfair and Paddy Power occurred, it resulted in the exchange being pulled from the Canadian market. Paddy Power had incumbent business in the market and that meant it was cheaper and less controversial to bin the betting exchange.

No sooner had this merger completed than Betfair, on the exchange side, also pulled out of another couple of markets, most notably on this occasion Russia and Estonia. And this was no doubt due to existing commitments or situations that would not sit nicely within the larger corporate group.

Betting exchanges offer a better solution

Therefore, I always view mergers and the like slightly negatively, as it’s the same issue I face all those years ago.

A betting exchange is a betting exchange and should live and die by that fact. Chuck it into a corporate structure and you lose the disruptive effect and incentive to transform things. My view always has and always will be that betting exchanges are a great way of doing business in betting markets for punters and all parties.

I understand that they don’t serve some of the customers as well as they could do but there are plenty of solutions to that. It’s just that the industry has chosen not to pursue them!

People like to win, but not in the long term

Ultimately one thing that this has exposed is that people just like to have a bet and they like to win. There’s no concept of value or anything beyond that. I always knew that was the case, but nonetheless, I would have thought that one company or another would have risen to the challenge to show people why betting exchanges were much better.

You also address all those negative stories about the gambling industry related to being restricted, banned, failure to pay out and palpable errors. These are solved by betting exchanges, none of them should exist. Some of the negative connotations of betting, including things like money laundering, integrity. All of these things are very easy to manage and on a much better level with a betting exchange.

The best thing about the exchanges from a problem gambling perspective, it’s that is easier to manage and the tiny book overround means people lose less money on them than betting with a traditional sportsbook.

You always see people moaning about all of the problems related to the betting industry, but nobody turns around and says, you know what? Why don’t you use an exchange? If more people did that then maybe betting exchanges would gain the traction they deserve?

How will the industry evolve from here?

Now, I’m being slightly negative here, but the fact is betting exchanges are a better model and they are here to stay.

But I’ve always felt that there is the opportunity for somebody to really aggressively pursue the exchange model, as it’s never reached its full potential. I think it is ripe for a bit of investment and for somebody to really take the bull by the horns. But how that happens and with whom, I have no idea! Maybe the existing incumbents will surprise me?

I think you could view the merger as a necessary part of the evolution of the industry.

Some of the players out there are getting extremely big. Whether you loke them or not, Bet365 have done a fantastic job of growing organically. So much so, that companies are beginning to have to merge in order to reach the same levels that Bet365 have reached. Getting there organically just isn’t going to happen.

However, in terms of the Betfair exchange, it becomes a much smaller part of a much bigger wheel. I think geographic expansion, especially in key markets like the US is probably further from reach at the moment. All that we can hope for is that the focus and desire that the exchange deserves, which its founders gave it when it was born in the year 2000, is retained within the company somehow and put in the hands of capable individuals who can continue to grow the business.

Let’s hope that that is the case.

The post Sky Bet, Flutter, Betfair – A goliath is created appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Betfair premium charge – Explained – Part one

Check out this Youtube video which also discusses premium charges!

A common question that pops up regularly in support, the forum or my inbox, is about Betfair’s premium charge. It’s a charge than only appears in the online betting world on betting exchanges. It’s a bit of a weighty topic so I’ve broken it down into two posts. The first explores what it is, the second whether you have any fear of paying it.

There are a lot of people out there who discuss premium charges but are clearly not affected by it. So in these two articles, I aim to give it a bit more depth and explain its application.

The first post also focuses on the history and origin of the premium charge and whether a ‘special deal’ on commission on Betfair is actually so ‘special’. The second will narrow in on whether you would actually ever qualify to pay it. It’s a complex topic, but one that requires some in-depth discussion.

What is The Betfair Premium Charge?

For those who want a basic definition of premium charge, it is a charge that’s levied on ‘elite’ participants weekly profit on the Betfair exchange. I use those words very carefully because lots of people have reacted negatively to premium charge, but in fact, it only affects a small number of people. This is because there are three hurdles you need to jump over to attract the charge. When multiplied together each component reduces your chance of being affected.

There are several hurdles to overcome, such as your commission generated, total charges and what you have earned over the lifetime of your account. But we will cover the next blog post. If you don’t see the label, ‘Premium charge’ in your account section, then you are not near it and don’t have to pay.

Betfair Charges

As somebody who joined Betfair right at the start, I qualified to pay the premium charge when it was first introduced in 2008. It was set at 20% of net profits and I received confirmation of the charge by email. No phone call or explanation, just a generic email appeared into my inbox. It was probably not the best way to communicate that to affected customers!

The, then independent Paddy Power, thought it would be funny to highlight just what impact this would have on punters using an exchange. Probably the main objective was to confuse punters and, ironically, put them off using an exchange. Betfair decided to counter with ‘clarification’ to their customer database. It laid out how few people would actually pay it, but the negative damage was already done and competitors feasted on it.

Then it went pretty quiet for a period thereafter, but it returned with vengeance in 2011 when Betfair increased the charge again the most successful customers.

Through my journey of understanding the premium charge, my objective was to fully understand the reasons behind it and several coincidences have occurred that have allowed me to get a really deep understanding of why it’s in place, the people it affects and how many of them are impacted by this charge.

Why does the premium charge exist?

Instead of focusing more on the history or the emotive side of the charge, we’re going to look at the summary of reasons why it is said that the charge exists. To have an understanding of why the charge is is enforced you have to explore the structural issue that is apparent because of the way that exchanges work.

It’s easy to slip into the mode of saying that the premium charge was introduced for commercial reasons. It not doubt would have a very beneficial effect on the bottom line of anybody introducing it, but lets dig deeper.

When exchanges were first created they were designed to be better places for gamblers to work, but when people started trading on exchanges. It created a structural imbalance in terms of the way that the market works. Therefore, if you want to understand the reasons put forward by all exchanges, that is the main reason. I’ve seen the numbers and there is an imbalance, it also exists at bookmakers.

Interestingly, other exchanges such as Matchbook and Smarkets have modified their terms and conditions to allow a charge like this to be in place. They held off for a long time but the fact it’s become a standard term implies there is a structural issue beyond what I can explain in this one blog post.

Overall the charge only applies to a small section of the ecosystem within the exchange. I’m not going to be an apologist for it because I obviously have paid significant sums of it! But we will leave that for another discussion in the future.

Trader vs Gambler commission – Who is better off?

The best way to look at premium charge and why it exists is to look at the traditional gambler and to look at a trader. However, it is not as black and white as it seems, as more often then not special deals are also thrown in the mix. In reality, when looking into the true structure of what the special deals are, it reveals the difference between gambling and trading and it also reveals that it is not actually much different from paying the premium charge.

Using spreadsheet examples I will guide you through how the charge exists, how it’s balanced and what it looks like if you apply a special deal. This is in a simplified form and the actual calculation will be slightly different. This could be on any market such as horse racing, the underlying market is not important when doing this calculation.

So, first of all, I have set the commission to exactly the same, 5% which highlighted in the image below*. Betfair naturally has a base rate commission that varies. But for this example, we are keeping it simple with 5%. I’m not going to attempt to discuss the an implied commission, I’m not going to look in-depth at the specifics and variations within the calculations as we’re just going to have a plain vanilla look at how all of this works.

To begin, we have to understand that the base rate is what you pay when you actively bet or trade in a market on an exchange. In my example I am comparing the gambler, shown in the left-hand column and the trader on the right, to display how the charge affects both users.

* (Want to see this demonstration through video format? – follow this link https://youtu.be/1tNBvPJHfjg)

In this example we have traded eight markets or we bet on eight markets in total. Now the gambler is going to win or lose large amounts of money, that’s the basics of gambling! The difference between gambling and trading is if you put a hundred down you want to win 100 back but you could lose 100, however when you’re trading putting the 100 down could win 10 or you could lose 10.

Equally, if you’ve got no discipline you could win 10 and then lose a hundred, but in all intents and purposes, when you’re trading you’re going to win a percentage of your bank.

So you can see highlighted in the image below that the gambler wins £110 pound on the first market that they actively bet on, then they lose 100 on the next. Then they win £110 and they lose 100, win 100, 110 lose etc.. So overall in all of these eight markets that they’ve been active on they’ve won £440, but they lost 400 leaving them with a net profit of £40.

Gambler example

Comparatively, the trader has also made £40, but of course they’re working in a different manner than traditional gambling. Trading is gambling, it’s just doing it a different way. If you look at the highlighted area in the image below you can see that rather than winning 110 and then losing 100 we are saying that when they win they win £12.50 because they’re trading the price movement (gambling on the price movement), not gambling on the outright result.

Trader example

So you can see here that when they win they win much less, but generally their strike rate will be higher. For the gambler, the strike rate is 50/50. They’re winning and they’re losing in roughly equal rates but they’re winning slightly more than they’re losing and that’s how they’re making their profit. The strike rate for a trader will always be much higher.

The offset strike rate for the trader is at 80% and four times out five they’ve won £12.50. However, the last trade goes through and they mess it up loosing £10. We’ve got four lots of £12.50, making £50 falling to £40 after their loss of £10 on the last market. This is pretty much what gambling and trading will look like on a betting exchange.

Why Betfair trading is better than gambling

This is why trading is such a great way of participating in gambling markets.

The amount of commission that you pay on your overall trade is based upon your net profits and not based upon your stake plus the return. Unlike what happens when you’re gambling, the commission when Betfair trading is on the amount of profit that you make in that particular market at that moment in time. That’s why trading has been so brilliant because you only pay if you profit, whereas in gambling you’re paying on open-ended risk.

So they’ve both made £40 in very different ways. They’re both realistic simulations of how either style works. However, you can basically see that they’ve ended up with a profit of £40.

So let’s look at the commission that was charged with using a base rate of 5%. You can see that the commission has added up to £22, meaning 5% of £110 pounds is £5.50 which occurred four times sub-totalling £22. After commission that £40 turns into £18 of profit, the gambler has lost most of their profit in commission which that goes to the house (effectively the betting exchange.)

The highlight shows the effect of commission and how this differs for gamblers and traders

In comparison, if we look at the trader who had also made £40 over this period and we have also paid five per cent commission. However, you can see that this just adds up to £2.50. So we retain most of the profit within the market, making trading much more efficient in terms of squeezing a profit out of a market – higher strike rate, lower commission.

So we’ve examined the strike rates here and we already know that the net profit is £40 on each, but this is where everything begins to diverge…

Why Gambling tends to lead to more losses

The commission that was paid by the person that was gambling is effectively 55% of their total return. More than half of the amount of money that they made through being able to make decent selections, has ended up in the pockets of the exchange. However when you’re actively trading, obviously your commission is much lower so you can see in the image below that we’ve ended up with a commission of 6.25%.

Gamblers on a betting exchange pay much more commission than a profitable trader. Most money in any market is lost in frictional costs, another word for charges. Gamblers pay much higher costs than a trader and therefore their edge needs to be very wide to cover these costs. A trader can work on wafer-thin margins.

Highlighted is the over commission % of each profit

We’ve only paid £2.50 on £40 displaying a significant mismatch between the two. This is why from a betting or sportsbook perspective, gamblers are welcomed with open arms. This is generally because they tend to lose money or pay very high rates of commission with respect to their total return. If you look at traders the amount of commission that they paid is quite small in comparison to the amount that’s generated by your traditional gambler.

Where does the premium charge come in?

So the premium charge was introduced to restore the imbalance between these two types of users. It was more or less an attempt to align business models if the positioning is to be believed. If we top up the premium charge on the trading side of things up to 40% then there would be an additional charge of £13.50 on top of the amount of commission that has been paid already.

The premium charge impact on a trader

Now if we modify this and change the rates to 20% then you can still see that even if the trader’s paying a premium charge at 20% there’s still a massive gap between that and the person that is actively gambling. But it’s a bit nearer.

The premium charge impact on a trader at 20%

This is a structural gap that occurs within the betting exchange markets. Looking in retrospect, when the exchanges were created, they probably didn’t expect people to actively trade. If they would have figured out exactly how everything would develop from there, they may have put a slightly different charging structure in place straight away.

The difference between paying a commission on a bet and the amount of money that you could possibly earn through betting is vastly different from the amount that you would make through trading on those actual bets.

Obviously, there was a commercial opportunity for the exchanges on the small number of people affected. But ultimately, whether you like it or not, the betting exchange model does suffer from a structural imbalance.

Special Deals or not so special?

Earlier on in this article, I mentioned special deals. There has been some discussion around people getting ‘special deals’, but whether a deal is ‘special’ or not all depends upon what your strike rate is! If you win and lose a lot relatively frequently, then your overall commission that you pay is going to be quite high in comparison to the amount of profit that you make.

So how would a special deal work? Let’s say that you’re paying premium charge and you’re paying at it a fair old whack. You’re on a 40% commission rate band and someone from Betfair comes along and says:

“I’ll tell you what, we’re going to fix your commission at 7 %. So you can have 7% on every single correct trade/bet that you put through the market, but we’ll drop your premium charge completely, all you’ll do is pay a higher level of base rate in commission! “

– figurative betfair!

Let’s suppose that 7% in instead of 5% and we assume that the strike rate remains the same for the gambler/trader that is taking advantage of this particular deal. Can you see that the amount of commission that the gambler is paying against the amount of profit that they make absolutely skyrockets.

The impact of the ‘special deal’

So if they were 5%, the standard base rate in the previous examples, you can see them paying 55%. If we dropped them to 4% they’re paying 44%, but if we bumped them up to 6% they’re suddenly paying an absolute fortune of 66%.

It’s not really applicable to the trader because their commission rate is going to already be low meaning that will be topped up by premium charge. However, if somebody has a high rate of commission that they’re paying already at a fixed deal of 6% for an example, paying a premium charge of 40% sounds like an absolutely fantastic deal, but it’s not…

Why? It’s all about the strike rates!

A fixed-rate for those who have a lower strike rate is a poor deal. If your strike rate is on a higher scale than a fixed rate deal is excellent! But sadly the evidence proves that the likelihood of you getting a fixed rate is generally only for those with low strike rates. For example, if I was offered I fix rate I’d probably take it due to the structure of my account, but it is dependant on strike rates.

So if you don’t understand what the premium charge is and would like more detail or some of the discussion around it, don’t worry about that because I will cover in a future blog post! This blog post is really for people who have some sort of a vague understanding of premium charge, but want to understand why it’s in place. I hope it gave you some more context on this subject.

In the next article, we will look at whether you ever could fall into its grasp.

The post Betfair premium charge – Explained – Part one appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

It’s easy to automate your Betfair trading

We receive a lot of requests on how to create rules using our Betfair Automation feature. So let’s talk through a step-by-step process of creating your first betting bot!

Betfair automation for every market and trading strategy

Whatever your Betfair trading strategy, it’s really simple to create a whole range of Betfair bots. Whichever market you are sports trading, you can improve it by using automation to lock in a profit or execute a Betfair trading or betting strategy to perfection!

Automation can cover many different sports on the Betfair exchange. You are not limited to just trading horse racing, we have a forum packed full of templates and examples that you can download and use straight away. View all of them on the forum – https://www.betangel.com/forum/viewforum.php?f=43

Whether you are into trading Tennis, football matches or any type of traditional sports betting. There is likely to be a piece of automation we have already created for you. You use these to see how we have automated trading across a variety of sports and scenarios. But to start with you really need to understand the simple process of creating a basic piece of automation.

Creating your first piece of Betfair automation

To create some automated betting or trading you initially need to decide exactly what you want to achieve. You would then give Bet Angel a series of rules to follow to automate what you want to do.

The creation of a rule is a fairly simple process provided you apply basic logic to it. We always advise clients to write down their requirements in logical statements describing the process. You must bear in mind the software cannot make decisions for itself, you must instruct it exactly what to do and then it will act.

The possibilities are endless but let’s start with a simple request to back a single runner in some horse races if it trades at a pre-set low price in running.

Our simple logic statements would be: –

  • Back a single horse
  • The price must be 1.86
  • The race must be in play
  • Only back once

Open Bet Angel Professional and log in as normal. Then open Guardian by clicking the ‘G’ icon on the upper top right of Bet Angel.

Select the markets you want. In the screenshot below you can see I have all the win markets loaded for today, the start of Royal Ascot! I have already highlighted the first Ascot race.

image003

In the next screenshot, you can see I have highlighted the Automation tab and the “Create a new rules file for the selected market”

image005

When I click to create a new rule the following dialogue box will appear: –

image007

This is where we create a new rule. It is a blank canvas and we can be as simple or as complex as we want. In this case, we are creating a simple rule to back one horse only, in running, at a pre-set price. You can set the price according to your requirements, in this example I will use 1.86

The first thing is to name our rule which is “Back in play at 1.86”

The rule type is also simple “Place a back bet”

The next step is to instruct Bet Angel on the time you require the bet to be placed. We want an in-play bet so we set the time to Arm trigger at 00:00:10 until 00:10:00. A little bit of information on these times. The first one is 10 seconds which allows the market to settle after it has started.

There can be a lot of volatility at the start of a race and this could mean a false trigger of our bet. The next time is 10 minutes which means it will stay active for that time. This is a coverall setting and will work on most races except for the Grand National type race.

Next, we must inform Bet Angel how many times we want to place a bet. In our requirements, we only want one bet placed so we set “Allow rule to trigger 1 time”

The next step informs Bet Angel which horse to back. Our requirement is to back the horse which trades at 1.86 first.

A word of caution. Some races will have a horse which starts at or lower than 1.86 so this rule will not work. However, the software allows us to apply the rule to races of our choice so we can eliminate races where the price is already below our desired level. So which horse do we back and how will Bet Angel know.

This is simple and we use the model provided by Betfair namely “in position 1 (sorted in order of favouritism). How does this work? Betfair will sort the order by the price of the respective horses. If a horse drifts in price it will drop down the positions and if it shortens it will move up the list with the shortest-priced horse being in Position 1.

This rule is only relative to in play with the idea being the low priced horse will win. This is not always true but it’s the premise of this rule. The screenshot below shows the first part of our setup: –

image009

Next, we move to parameters where we inform Bet Angel about the stake and where to place the bet. There are custom prices available from the drop-down list as shown in the next screenshot. For our rule, we select Best market price which means if higher than 1.86 is available the software will try and match it. For this example the stake is set to £10, you can amend this to suit your requirements.

image011

For this rule, we will use a fixed stake of £10 as described above and we will not require any Global Settings applied. We leave these blank.

image013

Bet Angel now knows we want to place an in play bet at 1.86. It also knows the rule must not trigger until 10 seconds after the race turns in-play and it must monitor the in-play market for 10 minutes.

Now we must add some conditions to the bet so it triggers correctly. The key part of automation is that the trigger will only fire if the conditions are met. You can add any conditions you want and in this case, we need just two.

The first one stipulates the market must be in play. The second stipulates the price must trade at a certain level. In this example, it must trade at 1.86 or below. We click on “New”: –

image015

The first condition is “The market is in play”: –

image017

The second stipulates the price and the horse. We will use Betfair Order again because the shortest-priced horse will always occupy Position 1. The next part informs Bet Angel the selection’s back price must be less than 1.87 (our required price is 1.86)

image019

That is it, we have created our rule! We now click Apply then close. At this point, we will be given warning notice. Click “Yes” and name your rule.

image021

This will now be stored in Guardian and you can select it from the drop-down list. You can then apply it to the races of your choice. You can apply it to all the markets or just one, or different rules to different markets.

image022

Bet Angel will now start cycling through these markets and execute your rules when they are met. If you wish us the ‘Automatically switch markets’ function in the ‘markets’ area of Guardian to get Bet Angel to switch to each market at the appropriate time before the start of the race.

And that’s it, your automation is complete

All you need to start this process is a Betfair account and a copy of Bet Angel professional. You can take out a free trial of Bet Angel by clicking here if you don’t have a copy. Automation works in practice mode, so you don’t have to worry about making mistakes as you can work on your automation risk-free while you are learning.

 

The post It’s easy to automate your Betfair trading appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Automate a whole day’s trading in 10 easy steps!

Automating your Betfair trading

When I first started trading on Betfair I was generally a manual trader, but I was keen to create a much more flexible trading platform for the Betfair exchange.

So when Bet Angel was launched I asked for our development team to put in Excel Compatability so I could link to a spreadsheet. Using a spreadsheet I could easily do some simple automated betting and trading, but I still needed to learn to write VBA code to do more complex automated trading. This meant you still needed some skills that were not in the hands of everybody.

Bet Angel launches advanced automation

Therefore in 2011, we added a completely new advanced automation feature. The key concept of this feature was to bring the power of creating your own Betfair bot or just some simple Betfair automation into the hands of many.

No longer did you need to learn any coding skills or complex protocols, the ability to semi-automatically or fully automate your Betfair trading was completely in your hands via a simple click and select method. Each step was carefully broken down in clear and concise steps with intuitive drop-down menus. It’s also structured around the process of trading a sport, not coding a piece of logic!

To help Betfair traders that wish to automate some or all of their trading, we have also created a vast range of automation templates that our customers can use to either put into the market directly or to tweak and modify to suit their own needs. This dramatically speeds up the time it takes to go from an idea to putting a Betfair trading strategy to use in the market.

Here is a quick guide on how to put one of those files to use.

10 easy steps to automating your Betfair trading

With Bet Angel’s advanced automation, it’s so easy that anyone can do it, and the purpose of this thread is to show just how easy it really is to get started and fully Automate a whole days trading activity in just 10 easy steps.

Step 1
Download any of the hundreds of ready-made example files from the shared files section on this forum http://www.betangel.com/forum/viewforum.php?f=43 by clicking on the .BAF file attachment found at the end of the 1st post of each thread. 

Step 2
Log into Bet Angel (I would advise doing so in practice mode, to begin with) 


Step 3 
After logging into Bet Angel click the green ‘G’ icon to open Guardian

Step 4 
Set your refresh rate as appropriate on the main Guardian banner. In the UK you will be able to set this to 20ms, but you may want to slow this down if you are overseas and not using a VPS.

Step 5
Tick the ‘Show Sidebar’ box

Step 6 
Click ‘Add’ to add all the days racing markets to Guardian or if you wish to trade some different sports see this thread on how to search for those markets – http://www.betangel.com/forum/viewtopic … 47&t=13289

Step 7 
Select the ‘Automation’ tab at the top of guardian 

Step 8 
Click ‘Import a rules file’ and browse your computer for the automation file you downloaded in step 1

Step 9 
Select the rule file from the dropdown list 

Step 10 
Click ‘Apply rule to all markets’

Now sit back while Bet Angel does the rest for you.

Of course, you can pick and choose the markets you wish to apply automation to and you can apply different automation files to each market. Also, once you’re familiar with the process of downloading and using the example files the next step I’d recommended is that you look at editing/modifying them to put your own unique spin on them.

Additional resources

If you want to view all the available automation file you can import and use on Bet Angel, visit this area of the forum: –

https://www.betangel.com/forum/viewforum.php?f=43

If you want to explore each of the features that are in the automation individually, then visit the user guide: –

https://www.betangel.com/user-guide/advanced_automation/

If you want to learn how to use all features of Bet Angel and learn something interesting about the markets, visit the Academy: –

https://online.betangelacademy.com

The post Automate a whole day’s trading in 10 easy steps! appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.