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Betfair trading strategy – Dobbing

What is Dobbing?

Dobbing stands for double or bust and is one of a number of sports trading / betting strategies that you primarily use in-play. You place a trade before the off and ‘keep’ the closing position through the in-play period and that’s how most people do it.

You profit with dobbing because of the price movement between when you place the bet pre-off, to when odds get matched inplay. As something becomes more certain inplay or the time descreases to the end of an event, you profit from that differential.

Dobbing is a great strategy to use on horse racing, as you have many races and there is a nice mixture of pre-off and in-play liquidity. But it can be used by sports traders on pretty much any sport that has the correct characteristics.

It’s not that different from a normal trade on Betfair, but the nature of the way you deploy this sports betting strategy makes it really easy to understand what your objective is when you should use it and what would make this a profitable Betfair trading strategy.

So how do you do a dobbing trade?

How to prepare Dobbing on Bet Angel

We are going to use global settings here and offset with greening, meaning when we place a position in the market Bet Angel will offset it in a profitable position, but in a position that’s completely hedged across the entire market.

We’re not going to use tick’s on this occasion, but we are going to use a percentage and if we want to DOB we select an offset of 50%.

For this particular example we’re gonna use a fixed stake in. Before we move on, make sure you’ve got global settings on the ladder. To do this make sure the ‘cog’ icon on the ladder doesn’t not have a cross through it.

The global settings button is the blue cog button (above picture shows it on)

If we put the first bet into the market then Bet Angel will offset that particular bet by 50%. So in this example in the video, we’ve gone in at 3.10 and Bet Angel has offset the bet and you can see it’s a DOB position at 1.55. It’s going to double or bust on this particular occasion. So to carry this in play we need to keep this bet.

Keeping the bet means that it gets carried over from pre-off to in-play.

Trading Dobbing in-play

On the next image, we’ve rejoined this race just as the race has got underway.

At the moment we are heading in around 2.6 and towards that general direction. It’s only a 1m2f race, so it is ten furlongs and most of the activity tends to take place towards the end of a race.

So when a race starts, you can’t really read much into that, to be honest. We will just have to sit and wait until probably the last three furlongs to see if this order actually gets matched at this particular price.

As I watched the race in play Shankara was leading from the front and was reasonably well positioned at the six-furlong marker. So the market obviously liked where this horse is positioned as long as it doesn’t get boxed in as it comes around that last corner.

It’s looking fairly comfortable at the moment, however, it is too early to tell in this particular race. However, number five was getting jigged along a little bit and so the price has gone out for Shankara in response to that.

Now Shankara is in third at the moment and is going wide to attack down the outside with plenty of room.

And we’ve been matched! So we went in with a £10 stake, we offset it by 50%, Dobbing it (double or bust) and you can see that we’ve made a £10 profit regardless of who goes on to win this race.

Shankara looked like they were going to get it, but in fact i twas Falcon Cliffs that managed to hold on the far side rail while Shankara finished third as the race came to an end.

The Final results

So despite the fact that Shankar didn’t win, he managed to double our money. That is one way Dobbing can make you money, even when the favourite doesn’t win!

I hope this helped you understand how Dobbing can work and I hope this strategy works well for you.

The post Betfair trading strategy – Dobbing appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Customised Rankings – Sorted, with Bet Angel!

When trading any Betfair market the one thing you’ll always want to know, even if you don’t realise, it is the ranking (order) the selections are in.

By default selections in Bet Angel are ordered the same way as they are in Betfair, but many people also like to see and rank their selections in order of favouritism or maybe by stall draw or BSP. So its not uncommon to be able to do this in Betfair trading software.

Custom rankings in Bet Angel

With Bet Angel, you have the freedom to go much much further and rank your selections in just about any order you want by assigning them to a custom ranking list. You can have up to five of these.

These customized rankings can then be used throughout Bet Angel, for example you could trigger other rules on selections in a market using these rankings, or you can display selections on your one-click trading screen etc and then have them re-order (automatically or manually) or even display the rankings as numerical values in a custom column.

In the image below I’ve put the selections in a custom ranking list and ranked them by traded volume, I’ve then created a custom column to display these ranking using numerical values, this allows me to see which ones are out of sync for example with there current Betfair or favouritism order.

How to create your own customized ranking then display them on your one-click screen with numerical values is what I’ll be covering in this blog.

Getting Started

No matter how you intend to use your custom rankings, the first few steps of the process is always the same – you need to put the selections in a custom ranking order.

To do this we need to create a simple rule using Guardians Rules Editor. Once we open that the rule type we need for this is called ‘Update the Rankings of Selections’.

The rule has been set to always be armed and to trigger unlimited times and rearm after every refresh, so as soon as its applied to a market it will begin ranking selections in the order your about to tell it and you’ll always have the most up to date order, there after.

Of course you might want something slightly different, for example you may want the ranking storing just once as the market goes in-play, or to update every several minutes after it goes in-play so you’d set this part to whatever suits your needs.

Options on Ranking Selections

When creating your own custom ranking you have the following list of options of how you want to rank your selections.

At first glance, this may not appear that groundbreaking by Bet Angel”s standards. But most of these are just the commonly used ranking methods you might want to quickly use, the real power and flexibility of this feature comes when ranking selections by a ‘Stored Value’, but I’ll leave that for another blog.

For now, we’re just going to keep it simple and use one of the pre-set options here to rank selections by volume in descending order (highest volume first), and these are going to be assigned to the ‘Custom Ranking 1’.

NB; Remember you can create up to five customized ranking and assign them to ‘Custom Rankings 1 to 5’

Before I go any further, just to give you a taste of what it means to rank selections by a Stored Value, it means you can make use any of the extensive lists of stored value options and then rank your selections in that order, take a look at the image below for a full list of all the information you can Store as a Value – then use to rank your selections.

And it doesn’t stop there, as you can also see you can use values stored in History Lists, which means you could if you wished rank your selections based on historical information, so you might want columns that show the selections order by lowest traded price an hour ago, 60secs ago, 30 secs ago, 5secs ago In short you can create custom columns and display the rank of selections and if required sort there order using any of the information shown in the images above from the present time to any past historical intervals you want – but that’s for another blog.

Creating a Custom Ranking

Back to this example, on the Parameters tab we have selected the ‘Custom Ranking 1’ as the list we’ll be assigning the ranking to and we’re ranking by volume in descending order.

and basically that’s the rule created to update the ranking how we want them done, next we need to add some rules to assign a numerical value to each selection based on their current order.

Adding Numerical Values


For this part, we need to add a ‘Set/Modify Stored Value’ rule to the automation file. I’ve also set this rule to always be armed with an unlimited amount of triggers and trigger every refresh so it too will also always have the most up to date information.

The rule has also been applied to rank 1 in custom Ranking 1 (ie, as the first rule triggers and updates the custom ranking 1 list, this rule will trigger on whichever selection is currently ranked 1 in that list, meaning the selection with the greatest traded volume).

Next we need to use the Stored Value tab, here I’ve created a Stored Value (shared) to store a value which I’ve named ‘order’ with an entered amount of 1

By using a (shared’)stored value it means this value can be used throughout other area’s of Bet Angel, ie, on the one-click screen, by other rules etc

Adding Additional Rules

We now need to repeat that step and create a rule for each selection, the quickest way is to select the rule you’ve just made then click the ‘Duplicate’ icon to create a perfect copy of that rule.

Then just make the minor edits to the rule name, the selection its applied to and on the Stored Value tab change the amount entered to 2

Then keep repeating that until you have a rule for each selection or as many as you are likely to need.

Saving the Rules File

Once you’ve created a rule for each selection you can save the rules file and give it a name of your choice, I’ve called this one ‘Custom Ranking Values’

That’s the rules file finished, it can now be applied to all your markets in Guardian. You can also run it as a Safety Servant as described in this post from the Bet Angel forum so it begins triggering and ranking the orders of the selections as soon as you open a market on your trading screen.

Creating the Custom Column

We now need to create a custom column to display the ‘Entered Amounts’ from the Stored Values rules we’ve just created.

If you’ve never created a Custom Column before this post from the Bet Angel forum will explain the process in full detail, but all we are doing here is entering the name of the Stored Value (shared) from the rules file we’ve just created into the custom column editor.

When you open the Custom Column Editor we need to either select an existing Custom Column profile to edit or click the ‘New’ button to create a new profile to begin editing.

Then choose a name for the custom column (this will be what appears in your column header on your one click screen), for this I’ve chosen to call the column ‘Volume Rank’.

For the ‘Action’ select ‘Display a Shared Stored Value’ and then enter the name ‘order’ (or whatever name you gave the Stored Value when creating the rules for the selections above).

Viewing the Custom Rankings

Once you’ve done that you can save the profile and return to your one click screen.

To display the custom column, you need to select the custom column profile you’ve just created (ie, ‘Custom Rankings’), finally, you need to enable the column you’ve created, to do this click the icon that looks like a calendar and tick the box next to the column you’ve just created. In this case it’s the one named ‘volume rank’ or whatever you choose to call it.

Once your custom column is displayed you can re-save your one-click screen layout by clicking the ‘disc/save’ icon to the right of the calendar icon.


You are now ready go – remember just add your days markets to Guardian and apply the rules file or run it as a safety servant and when you open a market on your one-click screen you’ll see the newly created custom column displaying the numerical ranking of selections by volume.

Sorting the Ranking Order

Remember although the numerical values will show the ranking by volume (or whatever you’ve chosen to rank them by) you can click on any of the column headers and Bet Angel will also sort the order the selections in real time.

Advanced Custom Ranking

As I touched on at the start of this blog I’ll follow up this example up shortly with another blog showing how you can use the Stored Values and History Lists to unleash even more custom rankings and either display them or trigger other rules using those rankings.

The post Customised Rankings – Sorted, with Bet Angel! appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

In-play confusion netted a Betfair trader £10,000

So if you’re trading on pretty much any sport, one of the pieces of advice that I would give you is simple: read the rules!

Why?

Because if you don’t, you could fall into a number of traps. It’s also important to understand what governs the settlement of a market within an individual sport as well. If you do that, then you’ll probably be able to spot a few opportunities where the market makes a mistake…

On one such occasion that happened recently, a Bet Angel user made £10,000 in just one horse race in just a few minutes!

Now in this instance this was mainly down to a misinterpretation of the rules, so let’s look at exactly what he did to make an incredible trade.

So what are market rules and what do they do?

On a betting exchange the market rules are there to govern, they have to be fair to both sides of the book (backers and layers.) It’s not like a traditional bookmaking set up where if you do something crazy, the bookmaker can adjust it or make a commercial decision on whether the interpretation of the rules or the market were correct.

Betting exchange’s are hard and fast because they need to balance out both sides. If you’ve backed something and it favours a layer you wouldn’t feel too happy, so ultimately there’s a set of rules in place that determine and governs exactly how a market will be settled and exactly what the market is.

However, there have been instances where people have completely misinterpreted the rules. The most recent was the next U.S. president market where people were betting on something that simply couldn’t happen according to the rules. Funnily enough this even happened twice!

Check out this video if you’d like to learn more! https://youtu.be/bjf1HpxigdQ

Read the rules!

So one of the messages that I’ve got for you today is: always read the rules, understand completely the market that you’re active in and what the rules mean for the way the market’s going to be settled or how things could change.

Now most of the time, that’s pretty clear and if you get a bit of experience in a market, you’ll begin to understand exactly what that scenario is and how it could influence the outcome of things.

For example on horse racing, it’s fairly standard if you’re trading but there are situations where if you perform one strategy or another that could radically affect the way that the market is settled, depending upon what is goes on.

In racing there are at least two markets over the course of the year that are very high profile which are initially created as false markets. Even I’ve fallen into that trap when I first started out, everybody does it so I don’t feel too aggrieved if you fall into the same trap every now and again.

No harm in being cautious.

Now generally for the day to day stuff, things are pretty obvious, neat and tidy, but there are situations where unusual things can happen. If you see an opportunity that’s too good to be true, then you can always pop onto the forum and ask for advice and somebody will correct you fairly quickly if they think you’re making a mistake.

There’s no harm in asking because there is no such thing as a stupid question. I’ve fallen into traps and in the past and I’m sure anybody that’s new to this game may also fall into trap. By and large, you can basically be rest assured that most markets are fairly clear and plain. It’s just the odd exception that occurs sometimes catches people out.

If you want to know what the rules are and each underlying market, then you can do that. Go to the Betfair website, click on the ‘i’ icon, and that will bring up a set of rules.

Click on the grey ‘i’ button to bring up the rules

So what happened to allow him to bag £10k?

You see the interesting thing is sometimes the actual rules of the sport can determine something really unusual. This was a situation that occurred fairly recently at Fontwell where something unusual happened.

Now if you were smart, then you would actually be able to take advantage of that and indeed, one Bet Angel user did, making an awful lot of money very quickly. He achieved this simply because he knew exactly what the rules of the underlying sport meant for what he could see on the screen. In fact, it was actually highlighted somewhat as the market unfolded as well.

In order to understand what he did and how the rules influence the settlement of the market which created this opportunity, let’s actually examine what happened in that race.

Hurdle Hardship!

In this particular race, as the horses were coming around to meet one of the hurdles, one of the horses clipped the top of the hurdle and had to be pulled up.

So the jockey decided to pull up the horse and dismounted on the course where they decided to attend to the horse immediately at that particular section of the course.

Now, of course that created an obstacle and the horses were going to be coming back round to meet that hurdle again on the next loop of the course. So they took measures to try and alert the jockeys to exactly what was going on which caused a moment of confusion.

So what we’re looking at here is a jumps race and as the name suggests, they have to clear all obstacles to be able to win the race legitimately. Obviously, what happened on this particular occasion was that all but one of the horses actually cleared the obstacle.

There was a certainly amount of confusion, but the interesting thing was that the jockey on the horse that actually jumped the hurdle came out and said:

Now, the interesting thing was that the commentator picked up on this almost immediately and indicated that it looked like all of the horses that missed it weren’t going to actually qualify to win the race. In fact, the only horse that would technically win the race was the one that actually jumped that hurdle.

So all of the horses carried on around the course as though nothing had happened and the race was run in the same manner in which you would typically expect.

Of course, the funny situation that we had here was that the horse that crossed the line first wasn’t actually the winner because the only winner of the race would actually be the horse that had finished and crossed all those obstacles. The interesting thing about this race was as the winner went across the line and the market was suspended, you could still back the actual winner of the race (the horse that wasn’t disqualified) at a fairly good price.

You could also back the horse that finished first as well. This created a lot of confusion in the market and one really astute Bet Angel user understood what had happened and had picked the right horse. He knew the rules of the market, they understood the rules of the underlying sport itself and took full advantage of this opportunity.

Profiting from the opportunity

So somewhat ironically, I wasn’t able to profit from this! As you know, I tend to do pre-off racing predominantly. I do some in-play stuff and a lot of that is automated because my main focus is on looking at the next opportunity that’s coming around the corner. However, I always have the racing on in the background so that I could tell that something unusual was happening.

Now this Bet Angel customer got in contact with me to say, did you see what happened to Fontwell? It was then that I figured out that something unusual happened and he sent me his P&L.

The unusual thing about the screenshot is that he obviously had to be decisive and take action. So as the horses were coming towards the finish line, something really unusual was happening and that was that the price on the horse that was in the lead that crossed the line first was shortening.

Now of course, the horse that was way back of the field was the only horse that had actually managed to successfully clear all the hurdles. So therefore, all of the other horses would be disqualified and even as that crossed the line, it was still available to back a fairly decent amounts.

There are several reasons for this, one of them is cross matching and various other things. There were lots of people on course that either misinterpreted, didn’t see what they’ve done or didn’t understand the rules.

Nonetheless, you could basically still back the horse that was the official winner, even though it was much further down the field and there was still money available at fairly decent odds when the the imagined winner crossed the line.

So what this Bet Angel customer did was they just took as much money as he could on that horse after it was declared the winner. Now it did get a little bit of press coverage, but ultimately it was one of those strange events that occurred that had all of the right components to it.

There was something unusual that happened, there was a little bit of confusion and therefore that just tipped the jockeys minds in the wrong direction. Ultimately, jockeys can get banned for making these sort of mistakes and that’s how the racing authorities try and clamp down on these errors.

Of course events like these still happen simply because of a confluence of coincidences that leads people into these areas. You can’t completely stamp it out because sometimes fate just dictates and a little bit of confusion sets in a strange set of situations occurs and that’s the way that things turn out.

However, the moral of the story is, if you’re aware of all of those rules and you’re sharp enough, then there’s no reason why you couldn’t take advantage in these situations. That is exactly what this Bet Angel customer did on this occasion and it allowed him to profit well!

The post In-play confusion netted a Betfair trader £10,000 appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.

Bet Angel’s communication tool – A hidden gem

Where to find it

Fire up Bet Angel and in amongst an amazing range of settings, you will find the communcations tool.

To locate it click the spanner in the middle of the main trading screen and up pops all the settings you can modify in Bet Angel in there you will find it undr the communcations tab.

At first, this all looks a bit bamboozling. But inside this tool is the key to optimising how Bet Angel communicates with Betfair. It’s been a feature that has been in Bet Angel for a large number of years and it’s often overlooked but is a key feature.

The concept

The key concept of this tool is to get the fastest, slickest and most optimised connection to Betfair via the Betfair API specifically for your needs. But its roots are much deeper, they go back to when Betfair trading software was invented and the tool itself is also a reflection on how often we update the software.

Before the Betfair API

Back when Bet Angel was born there was no API on Betfair and no Betfair trading software. Back then Bet Angel would mimic the actions of a web user, just a lot faster. This was a problem for Betfair as every request made to their servers received a response and soon an arms race developed to call their servers faster and faster.

This was unsustainable, so Betfair createed API access to their servers so that they could manage the number of calls and how those calls were made to the Betfair servers.

Bet Angel connection modes

This meant you could use the API if you wish, the website (via Bet Angel), or a combination of the two. This level of customisation and connection tuning has never left the product since, though access through any other way than the API was effectively banned by Betfair when each update of the website made it harder and eventually impossible to connect via that method.

This lead to a major innovation on Bet Angel. We wanted to encourage the use of the API, but also wanted to make sure people had access to the ‘NON-API’ mode while the transition took place. We quickly realised that while some things ran well on the API some other things didn’t so we started to offer the ‘connection mode’ concept of connecting to Betfair.

Connection modes are no longer available, but when Betfair released API NG that allowed us to create a new tool with significantly more control over how you could connect to Betfair. This was further supplemented when Betfair released their latest streaming technology which we also quickly adopted.

Bet Angel Communications tool

The Bet Angel communcations tool is designed to let you tweak your connection to Betfair in a number of ways. Over the years each time Betfair update their API, we update Bet Angel and the communciations tool is included in that.

For a full release shedule check out the this area of the forum.

As with our old concept of connections modes, the communications tool lets you mix and match what you want from a connection. Bet Angel allows you to connect to Betfair using either API NG where you ‘poll’ prices from Betfair or you can use their latest streaming technology so prices are ‘pushed’ to you.

Either way, you can tweak many differing aspects of the way Bet Angel communicates with Betfair. This is best learnt by looking at each individual aspect. See the graphic at the end of this article to see where to locate each of these features.

  1. The Dynamic connection tuner dictates how Bet Angel will act on the information returned from Betfair. If you have low latency, high-speed connection then the tuner can be pulled to the left to the lowest number possible to optimise how Bet Angel manages data from Betfair. You know you have ‘tightened’ it too much if price updates stall. Putting to a higher number will make Bet Angel more tolerant.
  2. Use exchange streaming, lets you determine if you want to use the Betfair stream or the conventional API NG ‘polling’ to retrieve key information. On Bet Angel, you can choose either so if there is a problem with streaming you can instantly switch to polling and continue trading. Polling retrieves information, whereas streaming pushes information to you. Polling is restricted to calling Betfair ‘only’ five times a second, there are no such limits on streaming as the data is pushed to you. There are advantages and disadvantages to both.
  3. You can choose to get Bet Angel to calculate your profit and loss locally. This can shave a few calls to Betfair and speed up things a little but is only recommend for markets where you have small numbers of trades.
  4. All functions of Bet Angel that communicate with Betfair can be modified, so you can speed up or stop communications that you feel are important or not. Some are not applicable when streaming and are greyed out.
  5. Connection smoothing changes how Bet Angel displays any data. It’s difficult to describe in a non-technical manner how it behaves but the name more or less explains it’s function.

Constantly updated

Hopefully this article gives you a few pointers as to how you can further optimise Bet Angel to take advantage of the engineering that lays underneath the software. It’s something that we constantly work on and everything Betfair tweak something, we review it and tweak Bet Angel.

We fell this is important as, in a competitive market, every edge counts.

It’s a process that started way back before Betfair had an API and continues until this day.

The post Bet Angel’s communication tool – A hidden gem appeared first on Betfair trading blog | Expert advice from Professional Betfair trade.